What Landlords Need To Know About Tenancy Agreements

When the Renters’ Rights’ Bill comes into force, there will be some important changes that landlords will need to know about tenancy agreements. That’s what our conveyancers in Peterborough look at in this blog post.

One example is existing tenancies. For example, for existing tenancies, they will need to become periodic. Any fixed term tenancy leases will cease to apply. In addition, a fixed term tenancy agreement bought in after the act commences, will have no legal effect.

New rulings for tenancy agreements mean that landlords must give a rent period. In most cases, these periods will be paid per calendar month. Any attempt by a landlord to create a period longer than this will have no legal bearing.

Any new tenancy agreements will need to include the necessary information to allow landlords to use the new and / or amended grounds for possession. These must be given to the tenant, by the landlord, before the tenancy is entered into. This means that tenants should be given a copy of their tenancy agreement in advance. This will give them time to consider the agreement and sign it before the tenancy commences.

As an experienced landlord you will know that many of the standard and current tenancy agreement terms will remain. However, there are some changes to tenancy agreements that landlords need to know. For example, there will be no end date. This is because there are no longer fixed terms. Instead, a tenancy agreement will have a start date and a period of tenancy. The period of tenancy will usually be monthly.

The most important thing that landlords need to know about tenancy agreements is that shorthold tenancy agreements relating to rent reviews and rent payable in advance will no longer have effect. This is the same for clauses stating how and when tenants can serve a notice to end the tenancy.

If landlords so not provide a written statement, which must include the prescribed terms or purport, or if they let a property on a fixed term, they may be liable for a financial penalty. This can be up to £7,000.

If you are a landlord in Peterborough and you want to make sure your tenancy agreements are legal and in order, call our conveyancers now. We will happily review and recommend your tenancy agreements to protect you, as a landlord, and your properties.