You have three types of tenancy/contract:
- Assured Shorthold Tenancy (AST) – this is a tenancy taken out by a private individual where the annual rent does not exceed £100,000.00. This is the main type of tenancy used in Central London and is protected by the Housing Act 1988 (as amended by the Housing Act 1996).
- Company Tenancy – this is where a Company has opted to be the Tenant and the tenancy is bound by Contract Law and not the Housing Act 1988.
- Common Law Contractual Tenancy – this is where a private individual takes the tenancy upon themselves and the annual rent exceeds £100,000.00. This type of contract falls outside of the Housing Act 1988 and is bound by the terms contained within the agreement itself.
To learn more about the Housing Act of 1988 please see: http://www.legislation.gov.uk/ukpga/1988/50/contents