UK Landlord Forum / Life

I have drawn up a standard Tenancy Agreement (unfurnished) for my new rented property for a fixed term of 12 months.  My Agent has said that it is wrong and should be a PS Common Law Tenancy Agreement, because the annual rental income exceeds £25,000. They are also claiming that a deposit need not be committed to a deposit protection scheme in this type of agreement. Are able to enlighten me?

Hey Sellg,

Your agent is wrong, on both accounts. If your rental income exceeds 50k per annum, then it should be a Common Law Tenancy Agreement. The threshold used to be 25k, but not anymore.

The deposit NEEDS to be deposited by law, for all assured shorthold tenancies!

The this is that you may the owner of the property on lease arrangements, and part of the rental agreement, as long as they will not conflict with the law. You and your boss have certain rights and responsibilities under the law. A tenancy agreement over both you and your landlord gives legal rights, but less than your legal rights you can not.