Thursday, 23 Oct 2014

Assured Shorthold Tenancy Landlords Beware!!

Assured Shorthold Tenancy Landlords Beware!!

 

Most residential landlords will be aware of the requirements when taking a rent deposit to register the deposit with an authorised scheme and serve prescribed information on the tenants. They will also be aware that when the fixed term (usually 6 or 12 months) comes to an end a statutory tenancy comes into being on the same terms as the written tenancy, terminable by the Landlord on 2 months’ notice.
What landlords might not realise is that the statutory tenancy is a new tenancy and therefore the prescribed information needs to be served again. There is debate as to whether re-registration is also required, although most commentators believe not.
A failure to serve the notice could result in financial penalties (up to three times the amount of the deposit) and an inability to serve the notice to quit.
If you are a residential landlord and would like further details please feel free to call Martin or one of our team of property solicitors.

Martin Wood
Senior Partner, Head of Property
Tel: 01535 613 670

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