Is a Let Agreed Legally Binding?
When in search of a rental property, there are a variety of stages you will go through before finalising the rental process and signing the tenancy agreement. One of these stages will be the relatively short period upon which you and the prospective landlord will enter into what is termed a let agreed.
What does “let agreed” mean?
A let agreed exists throughout the time when the tenant and landlord are finalising procedural checks such as references and paperwork, before the tenancy agreement itself is signed, with the process usually taking around one week to be finalised. During this period although there is intent from both parties to go through with the tenancy, it is in fact a period of uncertainty, as no legal documents have been signed and thus neither party is legally bound to perform a duty.
What are the legal implications of “let agreed”?
There is an unspoken formality that neither side in agreement will look into alternatives, be it another property for the tenant, or another tenant for the landlord, until the tenancy agreement is signed. Contrary to a let, there is no contractual obligation on either side, as that duty only arises when a tenancy agreement is signed by all parties involved. Until there is a signed tenancy agreement, in other words, your signature on the contract, you as the tenant or landlord are not legally bound to a tenancy.
