The Assured Shorthold Tenancy Agreement (AST) is one of the many possible ways to lease a property. This form of agreement has become a popular choice for property owners and tenants alike. This is because AST can provide legal rights to both parties and give them flexibility on the terms at which the possession of [...]
The Assured Shorthold Tenancy Agreement (AST) is one of the many possible ways to lease a property. This form of agreement has become a popular choice for property owners and tenants alike. This is because AST can provide legal rights to both parties and give them flexibility on the terms at which the possession of the property would shuttle from one party to the other. AST has long been around, and it had been increasingly preferred since the late 1990’s.
AST requires the tenant to be an individual, rather than a represented party or company. The property should also be rented separately, as a form of accommodation. The rented property should also become the main residence of the tenant. AST provides the tenant a minimum stay of six months. In any case, it is up to the agreeing individuals to determine the fixed duration of the lease. Tenancies for minors could be a little trouble for landowners. The best way to get a suitable agreement is to have legally aged guardian or parent to hold the Shorthold Tenancy Agreements in trust wherein the agreement will eventually pass on to the trustee (the minor) when the legal age of 18 is reached.
Although it is coined as “Shorthold”, it does not necessarily mean that the tenancy itself should be particularly brief. Both participating parties are given assurances. That is, it assures that the tenant has a rightful stay at the property, and the owner is granted the legal right to repossess the property in proper course.
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