As a landlord, it is important to safeguard your investment property and ensure that it remains profitable for you. One way to protect your investment is by including an agreement to exclude security of tenure in your lease. This will allow you to regain possession of the property without any legal battles if the need arises.
In the UK, security of tenure is a legal right granted to tenants, which gives them the right to remain in the property for an extended period of time. This means that landlords cannot simply evict tenants without following the proper legal procedure. However, if you include an agreement to exclude security of tenure in the lease, you are essentially waiving the tenants` right to security of tenure.
The agreement to exclude security of tenure is a warning notice that serves as a reminder to tenants that they do not have the right to remain in the property indefinitely. This warning notice is included in the lease agreement and must be signed by the tenant. By signing the agreement, the tenant acknowledges that they understand the terms and conditions of the lease, including the exclusion of security of tenure.
It is important to note that the agreement to exclude security of tenure does not mean that tenants will be treated unfairly. Tenants still have other rights, such as the right to live in a safe environment and the right to not be discriminated against. The exclusion of security of tenure simply means that the landlord has the ability to regain possession of the property without having to go through the legal process of eviction if the tenant breaches the lease agreement.
Including the agreement to exclude security of tenure in your lease is especially important if you are renting out a property that you plan to sell or use for personal use in the future. Without this agreement, you may be forced to wait for the end of the tenancy agreement or go through a lengthy legal process to regain possession of the property.
In conclusion, the agreement to exclude security of tenure is a crucial warning notice that protects landlords` investments and enables them to regain possession of their properties when necessary. As a landlord, it is important to include this notice in your lease agreement and ensure that your tenants are aware of its implications. By doing so, you can safeguard your investment property and avoid any unnecessary legal battles.
