The Assured Shorthold Tenancy Agreement Cooling Off Period: What You Need to Know

When renting a property, signing a tenancy agreement is a vital part of the process. An Assured Shorthold Tenancy (AST) agreement is one of the most common forms of tenancy agreements in the UK, and it provides both landlord and tenant with legal protection. However, what happens when you sign an AST agreement but later change your mind? This is where the cooling off period comes in.

What is the cooling off period?

The cooling off period is a short period of time during which tenants can change their minds about the AST agreement they have signed. Once a tenant has signed an AST agreement, they have a 14-day cooling off period during which they can cancel the agreement without any penalty. This means that tenants can withdraw from the agreement without any financial consequences or legal action taken against them.

It`s important to note that the cooling off period only applies to AST agreements signed on or after 1 June 2019. If an AST agreement was signed before this date, there is no cooling off period.

How can you cancel an AST agreement during the cooling off period?

To cancel an AST agreement during the cooling off period, tenants must provide written notice to their landlord or letting agent. The notice must be in writing, and it must be provided within 14 days of the tenant signing the agreement.

It`s important to keep evidence of the notice being sent, such as a receipt from the post office or a confirmation email. This evidence can be used to prove that the notice was sent within the 14-day period if there is any dispute in the future.

What if you want to cancel after the cooling off period?

If a tenant wishes to cancel the AST agreement after the 14-day cooling off period, they will be responsible for any financial consequences that may arise. This may include rent payments until the end of the tenancy agreement, as well as any penalties or fees stated in the agreement.

It`s important to note that tenants cannot cancel an AST agreement during the fixed term of the tenancy unless there is a break clause in the agreement that allows for early termination. In such cases, the tenant will still be responsible for any financial penalties mentioned in the agreement.

In conclusion, the cooling off period provides tenants with the opportunity to change their minds after signing an AST agreement without any financial consequences. However, it`s important to remember that this period only lasts for 14 days and that cancelling after this period may result in financial penalties. As such, it`s important to read and understand the terms and conditions of the AST agreement before signing to avoid any issues in the future.