Long or Short Let Property

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Long or Short Let Property?

When you first let a property you need to decide on what terms and for how long you want to let the property.

If you are not living in the property, a property is usually let as a full assured tenancy or as an assured shorthold tenancy.

Assured tenancy

A long or full assured tenancy typically allows the tenant to stay as long as he/she wants whereas a short or assured shorthold tenancy allows you to get the property back at the end of the agreed term (or within six months if there has been a breach of the tenancy agreement by the tenant).

If you are new to letting, you may prefer to start with a shorthold tenancy because you can, if necessary, repossess your home after the agreed period. And, you will also find that for this reason, most lenders prefer a shorthold tenancy. You can always extend an assured shorthold tenancy for another agreed fixed period at the end of the initial term or you can decide to allow the tenancy to continue as a periodic tenancy for as long as you want.

Even though a full assured tenancy gives the tenant more security there are circumstances in which you will be able to get your property back because the law is there to protect you from a bad tenant. A court can order repossession on a number of mandatory and discretionary grounds.

Information about assured and assured shorthold tenancies is available from the Office of the Deputy Prime Minister or you can go along to your local Citizens Advice Bureau for help and advice. Or take a moment to complete our Quick Enquiry Form and we will arrange for someone to contact you.