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This is for use in three situations:-
In all the above cases as the tenancy is not an assured tenancy you can take a deposit without having to pay it into the Government’s tenancy deposit scheme.
To end this tenancy you do not need to give a Section 21 or Section 8 Notice. It is a common law tenancy. As it starts the fixed term tenancy the tenant can stay there until the end of the fixed term. Thereafter it becomes a monthly tenancy. You will need to give a notice to quit to end the tenancy.
NB: Previously, this agreement could also be used where the rent exceeded £25,000 per annum. However, the maximum rent level for an assured tenancy is raised to £100,000 effective from 1st October 2010. After that date all tenancies where the rent is between £25,001 and £100,000 automatically becomes assured tenancies whenever they were created. The provision is retrospective. They become assured shorthold tenancies automatically so long as the tenancy first commenced after the 28th February 1997. The RLA therefore no longer provide an agreement for this situation.
Is this the correct Tenancy Agreement for you? Read the RLA Guide to Tenancy Agreements.