Assured Shorthold Tenancy?
As of 6th April 2007 the Housing Act requires all deposits for Assured Shorthold Tenancies to be registered and held with a Tenancy Deposit Scheme. Within 14 days of receiving the deposits, all Landlords must give their Tenants the name and contact details of the Scheme where they put the deposit together with information how to apply for the deposit release at the end of the tenancy. This is also a type of tenancy where the Landlord has the right to repossess the property at the end of the term but not earlier than 6 months.
But how do you know as Tenant or Landlord if your agreement is an Assured Shorthold Tenancy?
The best thing to do is read your Tenancy Agreement. In most cases the type of tenancy is written in the agreement.
AST agreement only applies if:
the property is rented privately
the Landlord doesn't live in the property
the property is the Tenant’s main accommodation
the rent is not free and it is not less than £250 a year (or less than £1,000 in London) and no more than £100,000 a year
Exclusions – tenancies are not Assured Shorthold Tenancies if:
it is a holiday let
the Landlord is a local authority
the Tenant is a company