Tenancy agreements and deposits

A tenancy agreement, also known as a rental agreement, is a legal contract between a landlord and tenant. It should clearly outline the responsibilities and obligations of each party, ensuring that everyone understands their role. A tenancy can be for a week, month or a fixed term.

What should be in a tenancy agreement?

There are important details that should be included in a tenancy agreement, such as annual rent, rent deposits, deposit protection, letting agent information, rules for the tenant, additional charges, joint tenancy, the landlord’s responsibilities and end of tenancy conditions.

Rent Deposits

As a landlord, you have the right to request a deposit from your tenant before renting out a property.  The deposit provides security but must be returned to the tenant at the end of the lease, providing that the terms set out in the tenancy agreement have been met.  All deposits must be held in a government approved tenancy deposit scheme, and the scheme’s details must be provided to the tenant within 30 days of receiving the deposit payment.

Ending a tenancy

If your tenant wants to leave the property before the letting period is over, they must give notice.  The tenancy agreement should state the required notice period if either party needs to terminate the tenancy early.  If your tenant wishes to end the contract early, they are responsible for paying rent for the entire fixed term tenancy unless a ‘break’ clause is included in the agreement.

Changing a tenancy agreement

The terms of a tenancy agreement can be changed by both the landlord and the tenant, but the changes must be agreed by both parties and must be legally binding.

How we can help

If you are considering creating a tenancy agreement, it is important to seek advice from experienced solicitors who understand the complex laws surrounding tenancy.  This will ensure that your agreement is robust and safeguards your interests.

Our experienced property team can provide expert advice regarding tenancy agreements and deposits for both tenants and landlords.  Whether you are considering an assured shorthold tenancy, fixed term or joint tenancy, call our team today on 01926 491181.