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.
Renters’ Rights Bill
The Renters' Rights Bill is expected to come into force in summer 2025, making the most significant changes to the private rented sector in over 30 years.
Amongst other things, the Bill will -
• Abolish Section 21;
• Change the type of tenancy you can offer;
• Introduce a new Decent Homes Standard to the PRS;
• Change advertising practices; and
• Significantly strengthen local authority enforcement powers.
The advice and resources on this page will be outdated once the Bill comes into force. The NRLA is currently preparing a suite of replacement guides and documents to help you manage the transition smoothly.
For further information on the passage of the Bill and its details, please see our dedicated campaigns hub