14 Okt What Are The Advantages To A Tenant For Being In A Fixed Term Agreement
The crucial point I am trying to make is that if our agreement actually represents a contractual periodic lease as opposed to a legal periodic lease, then a new tenancy did not start, but it was continued from the previous 6-month fixed lease. While month-to-month flexibility may be attractive to some, extending the lease has a number of benefits for landlords and tenants. We highlighted the difference between the options and benefits of fixed-term contracts. I should ask the tenant what he would prefer in terms of contracts, because I have the impression that he himself has forgotten that he could have set 23 months from the beginning. I wonder if I can offer them another safe abbreviation or contractual periodicity. I don`t want to scare them and think that I could ask them to leave with only one month`s notice after the first 6 months. The landlord or tenant cannot terminate a fixed-term tenancy prematurely. However, there are some options if landlords or tenants want them. One of the advantages of contractual periodic rentals is that you can specify the duration of your periodic rental, which creates security. Landlords in England should be required to serve tenants with a government-published „How to Rent“ guide for tenants at the beginning of renting. These manuals are updated over time. In the meantime, I noticed this and bit the ball and told the tenant that I was wrong and that we did not need a new contract. So I let it slide into the periodicity prescribed by law.
Thank you for your help, I appreciate it. Hello Penny, thank you for your question and comment. You will need to speak directly to the client of the agency that manages your property if this has happened to you and if you feel you are entitled to compensation. This is not a new law and there is no „penalty“ – if your agent has not said that your tenants do not have a fixed term, you will have to speak directly to the client. We hope this helps. Key Points of Bec: Consider your goals for your investment property before deciding which term is best for you. While a periodic agreement can give you more flexibility when considering selling or expanding the property, a term agreement gives you more mental health, security, and control over your investment. Can a well-known rental agent continue to charge commissions when looking for a tenant after the two-year contract ends and needs to be renewed? You cannot prematurely terminate a fixed-term rental. .