We want you to fully understand what options you will have if you enter into an Assured Shorthold Tenancy agreement with RPS.
What we can offer you
Under the terms of your Assured Shorthold Tenancy Agreement (AST) with RPS, you will have the right to remain in your home as a tenant for a period of 5 years.
During the term of your tenancy, you will also have the right to:
- buy back your home from RPS.
- give notice that you would like to end your tenancy so that you can vacate the property and move elsewhere.
When your tenancy comes to an end, RPS may:
- agree to offer you a new tenancy. However, you will have no automatic right to a new tenancy agreement. Any decision to offer a new tenancy will be at our discretion.
- ask you to vacate the property so that we can sell it. If we do ask you to vacate the property, you must do so and will have no right to remain as a tenant.
What we do not offer you
We do not offer lifetime tenancy agreements. You will not have the right to live in your house for life, unless you agree to buy back your home from RPS during the term of your tenancy agreement.
It is important that you understand that you will only have the legal right to live in your home for a period of 5 years.
We do not offer equity release style schemes which enable you to live in your home for the rest of your life, without making any monthly payments. If you are retired or approaching retirement, our ethical sale and rent back scheme is probably not right for you. If you are interested in equity release, you should consult an independent financial adviser or specialist equity release firm.
If you enter into a sale and rent back agreement you are unlikely to get the market value of your home and, as a tenant, may only be able to remain there for a limited period. There may be other options available. Please ask for a key terms statement.
We want you to fully understand what options you will have if you enter into an Assured Shorthold Tenancy agreement with RPS.
What we can offer you
Under the terms of your Assured Shorthold Tenancy Agreement (AST) with RPS, you will have the right to remain in your home as a tenant for a period of 5 years.
During the term of your tenancy, you will also have the right to:
- buy back your home from RPS.
- give notice that you would like to end your tenancy so that you can vacate the property and move elsewhere.
When your tenancy comes to an end, RPS may:
- agree to offer you a new tenancy. However, you will have no automatic right to a new tenancy agreement. Any decision to offer a new tenancy will be at our discretion.
- ask you to vacate the property so that we can sell it. If we do ask you to vacate the property, you must do so and will have no right to remain as a tenant.
What we do not offer you
We do not offer lifetime tenancy agreements. You will not have the right to live in your house for life, unless you agree to buy back your home from RPS during the term of your tenancy agreement.
It is important that you understand that you will only have the legal right to live in your home for a period of 5 years.
We do not offer equity release style schemes which enable you to live in your home for the rest of your life, without making any monthly payments. If you are retired or approaching retirement, our ethical sale and rent back scheme is probably not right for you. If you are interested in equity release, you should consult an independent financial adviser or specialist equity release firm.
If you enter into a sale and rent back agreement you are unlikely to get the market value of your home and, as a tenant, may only be able to remain there for a limited period. There may be other options available. Please ask for a key terms statement.