What you should know about renting your house out part 1
If you let your property, the tenancy will normally be an assured shorthold tenancy (AST). With an AST, you have guarantees and rights, for example:
- you can get your property back after six months provided any fixed-term agreement has ended and you have given your tenant two months’ notice to leave the property
- you can charge a market rent
- you can end a tenancy at any time if your tenants don’t pay the rent, behave anti-socially or damage the property, including within the first six months or initial fixed term if the tenancy agreement provides for this
You should agree with your tenant how long the tenancy will last and write it into the tenancy agreement before they move in. You can agree to a set period – known as a ‘fixed term’ – or you can leave it open-ended.
A tenancy agreement is a written or verbal contract between a landlord and a tenant setting out the terms and conditions of a rental agreement. You should try to have a written agreement ready before a tenancy begins. You can use a verbal agreement but they offer no proof if disputes need to be settled.