An Assured Shorthold Tenancy Agreement is a legal agreement in writing that sets out the rights and responsibilities of both landlord and tenant. It will contain details such as the length of the agreement, the rent payable, and what is and isn’t allowed in the property, such as pets.
At the end of the agreed fixed term if the tenant stays on with the Landlord’s consent, and the tenancy agreement is not renewed, it then becomes what is known as a Statutory Periodic Assured Shorthold Tenancy Agreement.
ASSURED STATUTORY PERIODIC SHORTHOLD TENANCY AGREEMENT The terms of the original assured shorthold tenancy agreement apply and are automatically renewed each “period” (normally each month). The landlord and the tenant both have the additional right to end the tenancy at any time by giving the required amount of notice.
CONTRACTUAL PERIODIC TENANCY This is when an Assured Shorthold tenancy is created with no initial fixed term. The tenancy runs on indefinitely until either the Landlord or the Tenant gives the required notice to the other. During a statutory or contractual periodic tenancy the landlord can normally increase the rent each year.
NON-HOUSING ACT 1988 TENANCY This type of agreement is less common and only applies:
During a statutory or contractual periodic tenancy the landlord can normally increase the rent each year.
Regardless of which status your agreement is in (fixed term or periodic), the landlord still has to give two months notice to the tenant and can’t obtain possession (before 6 months of the tenancy agreement has elapsed) other than by satisfying certain of the prescribed grounds.
The following link may be useful www.gov.uk/private-renting-tenancy-agreements/overview