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Which Tenancy Agreement Should I Consider?

When it comes to renting out a room in your own home, there are a number of options available. Ideally, you should make the tenant sign a lodger agreement. When renting a room out in shared accommodation that you are not living in or a place where tenants have their own room with communal areas, the most appropriate type of agreement whould be a short hold tenancy agreement or AST for short.

What is a Lodges Agreement and do I need Insurance?

This should not be confused with an AST, they are very different in a number of ways. In the eyes of the law a lodgers agreement is known as a license agreement. The reason for this is because if you are renting a room out in your own home, legally that means that the lodger does not have exclusive occupation of the property.

What are the similarities between AST’s and Lodgers Agreements?

There are some similarities between AST’s and lodgers agreements in as much as the principle of the relationship isvery similar. There is no need for the landlord to take a deposit from the tenant as long as you share the same property as the lodger. If you do have to evict a lodger there is no need for a court order to evict them as you are technically sharing the same property. By law, you are not required to have any insurance that protects the lodger; if you have your own contents insurance this will cover the lodgers possessions too.

Is there a difference between AST Agreements ?

An Assured Tenancy Agreement means that the person who has signed the documentation has an assured short hold tenancy which will then apply to the room they are renting. This means that landlords are legally bound by the rules and hae a set of regulations that they are obliged to follow. These include things such as the statutory maintenance of properties and the requirement to register any deposit with the correct authorized tenancy deposit schemes.

Are there any otehr Rules and Regulations ?

There are other rules you must follow and adhere too, for example, you are not able evict the tenant unless you follow the correct procedure and provide them with notice. From there you can take legal proceedings by obtaining a court order for the possession of the property.

If you rent an entire a property to one or more persons who all sign the same tenancy agreement, an AST is not the right type of agreement. The correct policy would be an ordinary AST agreement, if you are considering an agreement of this type there are plenty of places to find them; the internet has to be one of the best.

Does a lodger agreement apply if I do not share any living accommodation with the tenant ?

The main difference is that when it comes to sharing a property with the occupier is that they do not have official tenancy. Technically, this applies to the legal rights and regulations too. When somebody rents a property with a tenancy agreement they have far more rights than if they did not have one. There are ways of stopping your lodger acquiring proper tenancy of the property, for example, if you were to clean their room this would be a way of the acquiring tenancy.

 

When looking for landlord insurance there are many ways you can go about getting a good deal, searching the internet is usually you best bet with the most competitive deals found here.

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