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If you have requested your tenant to pay a deposit and are letting the property out on an assured shorthold tenancy basis, you must place your tenants' deposit in a tenancy deposit (TDP) scheme which applies to all assured shorthold tenancies that start after 6th April 2007.
Bridleway Cottage brings in PS700 per calendar month on an is Assured Shorthold Tenancy.
A If your landlord doesn't give you notice, or you don't sign a new tenancy agreement, your tenancy automatically becomes a periodic assured shorthold tenancy, also known as a rolling agreement.
A Your son will have signed an assured shorthold tenancy agreement with his tenants, which generally has a minimum six-month term.
These will explain the tenancy's new status as an Assured Shorthold Tenancy, and when it will take effect.
However, this isn't a sector for buy-to-let because that means an assured shorthold tenancy, usually lasting six months or a year.
There are different types of tenancies such as assured shorthold, assured and regulated or protected - but most landlords favour an assured shorthold tenancy because it entitles them to take back the property after six months.
But Fool property expert Donna Werbner warned: "They actually offer an Assured Shorthold tenancy which lasts for only six to twelve months.