Lettings Direct - Letting Agents, Property Management Specialists and Buy to Let Experts.
A tenancy agreement is a legal document between the Landlord and Tenant for the rental of a property and initially is for a fixed term, usually 6 months - such an agreement is what is known as an "Assured Short-hold Tenancy".
The tenancy agreement should be in the names of all tenants residing in the property over the age of 18.
At the end of a tenancy agreement, there are usually 3 options:
a) The tenancy is extended for another fixed period (6 or 12 months)
b) The tenancy reverts to a Periodical Tenancy Agreement, which is a month by month agreement
c) Either the Tenant or Landlord decide to terminate the agreement
To terminate a tenancy agreement, the Tenant must give a minimum of one months notice, but not to terminate during the fixed term period.
This is usually by negotiation with the Landlord and if there is agreement, then the Tenant would usually be expected to pay any costs that the Landlord would incur in finding a new tenant and the Tenant would be responsible for all rent payments up to the time when the new tenant moves into the property.
The Landlord can not terminate the tenancy early under normal conduct from the Tenant. However, should the tenant not pay the rent or is in breech of the tenancy agreement, then the Landlord may follow the appropriate action and issue a notice via the Courts to terminate the tenancy