Aug 10
10
High Rent Residential Tenancies – Landlords Beware
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Source: Grant Saw Solicitors
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The new law, the Assured Tenancies (Amendment) (England) Order 2010 which comes into force on 1 October 2010 is retrospective in that on that day any tenancy whose rent is more than £25,000.00 and less than £100,000.00 will be converted from an unregulated tenancy to an AST. Landlords who have entered into agreements on the basis that tenancies would not be ASTs will after 1 October find that they are.
The new law, the Assured Tenancies (Amendment) (England) Order 2010 which comes into force on 1 October 2010 is retrospective in that on that day any tenancy whose rent is more than £25,000.00 and less than £100,000.00 will be converted from an unregulated tenancy to an AST. Landlords who have entered into agreements on the basis that tenancies would not be ASTs will after 1 October find that they are.
There is an additional trap for high rent tenancies which commenced before February 1997 and which may now be afforded an even higher level of protection and which may as a result be difficult to repossess at all. …
Read the whole article HERE
