What does assured tenancy mean?

assured tenancy meaning in Law Dictionary

When a tenant will pay an open lease rate. The guidelines tend to be a landlord cannot reposess property unless specific principles tend to be broken, rent is raised at market degree with a cap, and a tenant can't provide an authorized tenancy without a landlords signature. AKA protected

assured tenancy meaning in Business Dictionary

Tenancy that gives protection of tenure but at open-market (fluctuating) lease price. Under this arrangement the (1) landlord cannot regain ownership associated with residential property except under specific statutory terms, (2) may apply to raise the lease to economy degree, within certain limits, and (3) tenant cannot assign the tenancy to a 3rd party without landlord's approval but (upon the renters death) his / her partner may carry on the tenancy. Also known as shielded tenancy or regulated tenancy.