Common law tenancy agreement with service charge
This is a tenancy agreement under common law for letting any high value property where the rent exceeds £100,000 a year and so disqualifies it from being an assured shorthold.
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- Guidance notes included
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What this document does
This document creates a tenancy agreement for any residential property where the rent is more than £100,000 a year.
This is the amount that disqualifies it from being able to be let under the more frequently used assured shorthold tenancy arrangement. If the rent is under this threshold, use an AST instead.
This agreement includes full provision for a service charge: what services are included, how the charge is to be calculated, basis of accounts and more. It also includes a guarantor.
Every let requires different terms. We give you a menu of over 40 items of control provisions (covenants) to protect your property as you would like. You can select what you want and easily delete the rest. Of course, you can also choose to keep in or take out standard terms such as a provision for guarantor and provision to use a separate managing agent.
Extensive drafting notes explain each point and how to edit the document.
Here are some of the most important provisions in this agreement:
- Guarantor: we advise that this is essential
- Provision for you to use an agent (perhaps you are the agent)
- Rent deposit provisions (not controlled by statute law)
- Landlord's access: to view or show prospective lenders or buyers;
- Menu of over 40 tenant's covenants setting out what tenant can and cannot do
- Draft form of inventory (provided in the document, with explanatory notes on how to use)
- Full service charge provision
We also offer a simpler agreement for where the tenant is a company.
This document was written by a solicitor for Net Lawman. It complies with current English law.
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