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A rental agreement is a contract of rental, usually written, between the owner of a property and a renter who desires to have temporary possession of the property; it is distinguished from a lease, which is more typically for a fixed term. [1] As a minimum, the agreement identifies the parties, the property, the term of the rental, and the ...
The assured shorthold tenancy (AST) is the default legal category of residential tenancy in England and Wales.It is a form of assured tenancy with limited security of tenure, which was introduced by the Housing Act 1988 [n 1] and saw an important default provision and a widening of its definition made by the Housing Act 1996.
For a short assured tenancy a formal notice (AT5) must be served prior to the start of the tenancy and the tenant is only given limited security of tenure. The landlord can seek possession of the premises on a number of grounds established in the Housing (Scotland) Act 1988, and once the agreement reached its end (the 'ish' date).
A residential lease must include the parties, the premises (the address or relevant space), and the term of the lease. The lease term can be indefinite but must be stipulated as such in the document. Typically, leases will also include the price of rent per month or per term, but this is not legally required. A commercial lease must include ...
Short-term rental (STR) describes furnished self-contained apartments or houses that are rented for short periods of time. [1] They are usually seen as an alternative to hotels . "Short stay" rentals are an offshoot of the corporate housing market, [ 2 ] and are also offered by private owners and investors via online platforms such as Airbnb .
If the tenancy is a fixed-term tenancy, it may be ended either by the effluxion of time [n 3] automatically expiring, with no need to serve any notice, at the end of the fixed term [9] or, if the tenancy agreement gives the landlord a power to end the tenancy, by the landlord exercising that power.
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