High Value Tenancy Agreement
What type of tenancy does this agreement create?
If your tenants pay more than £100,000 per annum then you cannot have an assured or assured shorthold tenancy agreement. Instead you will have a non-assured tenancy agreement.
Non-assured tenancy agreements operate differently from assured or assured shorthold tenancies in a number of important ways. For example, the deposit does not need to be protected in a government scheme, repossession will usually start by serving a notice to quit instead of a Section 21 or Section 8 notice, and the tenant fee ban does not apply to these type of tenancies.
This agreement has been drafted with this in mind. It also includes additional protections to ensure that the value of the property you rent is not diminished during the tenant's stay in the property.