Assured and Assured Shorthold Tenancies

A new letting by a landlord who is not living in the same house as his tenant will normally be either an assured tenancy or an assured shorthold tenancy. An assured tenancy will generally allow the tenant to stay for as long as he wants. An assured shorthold tenancy will allow the landlord to take the property back at the end of the agreed term.

Whether they let on an assured or an assured shorthold tenancy, landlords can now charge tenants a market rent. So you need not fear that you will be forced to let at an unrealistically low rent. There are one or two rules, to prevent overcharging, but broadly speaking the rent you agree with your tenant is the rent he must pay.

It used to be difficult to get your property back when you wanted to. Now it is possible to let property for the length of time which you find convenient and be absolutely certain that you can get it back. This type of letting is called an assured shorthold.