As a landlord, one of the most critical documents you need is an up-to-date assured shorthold tenancy agreement (AST). An AST outlines the terms and conditions of a tenancy and is legally binding, protecting both you and your tenants.
It is essential to ensure that your tenancy agreement is up to date with the latest regulations. This is especially important if you have not updated your agreement in the last few years, as laws and requirements are continually changing.
Here are some key things to keep in mind when drafting an up-to-date AST:
1. Format: Your AST should be clear and easy to read. Use a standard font, size, and spacing to make it reader-friendly. Break up long paragraphs into bullet points or sections to make it easier to understand.
2. Clauses to Include: Your AST should include essential clauses such as the rent amount, the length of the tenancy, and any conditions for ending the tenancy. You should also include clauses on who is responsible for repairs and maintenance, what will happen if the rent is not paid, and any restrictions on the use of the property.
3. Legal Requirements: Your AST should comply with all relevant legal requirements, such as the tenant fees ban and the tenancy deposit protection scheme. Ensure that all legal obligations are clearly stated in the agreement.
4. Changes to Legislation: Keep in mind that legislation can change at any time. This means that you will need to stay up to date with changes to tenancy laws and regulations, and update your AST accordingly.
5. Seek Professional Help: Drafting a legally binding agreement can be a complicated and time-consuming process, especially if you are not familiar with the legal requirements. Consider seeking professional help from a solicitor or property management company to ensure that your AST is accurate and up to date.
Overall, an up-to-date AST is essential for any landlord. It protects both you and your tenants and ensures that the tenancy runs smoothly. Always keep your agreement up to date with changes in legislation and seek professional help when needed to ensure that your AST is legally compliant.