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As a landlord, it is advisable that any tenancy agreement is in writing in order to protect both your interests and your tenants' interests. There is no legal requirement for a tenancy agreement to be in writing; however, if a tenant has exclusive possession of a property and pay a rent a tenancy agreement has been created.
A tenancy agreement can help:
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Prevent disputes during the tenancy over what was agreed
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A well drafted agreement will help protect the landlord's interests
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You may experience difficulties in evicting a tenant if you are unable to produce a tenancy agreement particularly where using accelerated possession procedure - link to eviction page
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Will specify the rental amount
Drafting a tenancy agreement is a skilled jpb and it is not advisable to attempt this without seeking legal advice. If property will be let through a letting agency then a tenancy agreement is usually provided as part of the service. However, tenancy agreements can be bought from a legal stationer or from any good high street stationers.
Types of tenancy
Assured Shorthold Tenancy agreements
The most common type of tenancy agreement that are used by private landlords are assured short-hold tenancies (ASTs). An assured shorthold tenancy can be for any term, however, it is usually for a minimum period of 6 months. The benefits of using an AST are that a landlord can recover possession of the property as long as the fixed term has expired. If a property is subject to a mortgage, most mortgage lenders will insist that any tenancy is an assured shorthold tenancy.
Assured tenancies
It is unusual for a private landlord to use this type of tenancy. A tenancy will only become an assured if it is stated that it is an assured tenancy. Landlords should only use an assured tenancy if they are certain that they will not wish to recover possession of the property and wish their tenants to have a greater security of tenure.