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New tenancy agreement and increasing rent

tallac
Posts: 416 Forumite

Hi. My father is a landlord to a single property and using OpenRent and I'm helping him out with the management of this. The current tenants moved in about 6 months ago and are on a 12 month tenancy agreement (fairly standard agreement from OpenRent). All is well and fine with the tenants. However, I'm a little confused what happens at the end of the 12 month tenancy agreement. From what I understand, the tenancy agreement moves to periodic agreement at the end of 12 months i.e. like a rolling monthly rental agreement.
If both landlord and tenants agree on whether to sign on to a new 12 month agreement or staying on the periodic agreement then there is no problem.
However, what happens if there is a disagreement e.g.?
If both landlord and tenants agree on whether to sign on to a new 12 month agreement or staying on the periodic agreement then there is no problem.
However, what happens if there is a disagreement e.g.?
- Tenants wants to stay on periodic, landlord wants to have a new 12 month agreement in place? (I believe tenants preferences will trump)
- Tenants wants to sign 12 month agreement, but landlord wants to stay on periodic agreement? What happens here?
0
Comments
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If the landlord and tenants don't agree, then the default is a periodic until the tenancy is brought to an end (for example, the tenants move out, perhaps at the end of the fixed term, or the landlord services notice and, if necessary, evicts), or until a new agreement is reached.1
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tallac said:Hi. My father is a landlord to a single property and using OpenRent and I'm helping him out with the management of this. The current tenants moved in about 6 months ago and are on a 12 month tenancy agreement (fairly standard agreement from OpenRent). All is well and fine with the tenants. However, I'm a little confused what happens at the end of the 12 month tenancy agreement. From what I understand, the tenancy agreement moves to periodic agreement at the end of 12 months i.e. like a rolling monthly rental agreement.
If both landlord and tenants agree on whether to sign on to a new 12 month agreement or staying on the periodic agreement then there is no problem.
However, what happens if there is a disagreement e.g.?- Tenants wants to stay on periodic, landlord wants to have a new 12 month agreement in place? (I believe tenants preferences will trump)
- Tenants wants to sign 12 month agreement, but landlord wants to stay on periodic agreement? What happens here?
Rent cannot be increase during the fixed term unless the tenancy agreement allows for it. During a period tenancy it can only be done once a year, in line with the local market, and by agreement with the tenants or using an s13 notice.
I don't mean to sound harsh but your father really should have done this research before starting a lettings business. They are very basic questions to be asking 6 months into a tenancy.2 -
MaryNB said:tallac said:Hi. My father is a landlord to a single property and using OpenRent and I'm helping him out with the management of this. The current tenants moved in about 6 months ago and are on a 12 month tenancy agreement (fairly standard agreement from OpenRent). All is well and fine with the tenants. However, I'm a little confused what happens at the end of the 12 month tenancy agreement. From what I understand, the tenancy agreement moves to periodic agreement at the end of 12 months i.e. like a rolling monthly rental agreement.
If both landlord and tenants agree on whether to sign on to a new 12 month agreement or staying on the periodic agreement then there is no problem.
However, what happens if there is a disagreement e.g.?- Tenants wants to stay on periodic, landlord wants to have a new 12 month agreement in place? (I believe tenants preferences will trump)
- Tenants wants to sign 12 month agreement, but landlord wants to stay on periodic agreement? What happens here?
Rent cannot be increase during the fixed term unless the tenancy agreement allows for it. During a period tenancy it can only be done once a year, in line with the local market, and by agreement with the tenants or using an s13 notice.
I don't mean to sound harsh but your father really should have done this research before starting a lettings business. They are very basic questions to be asking 6 months into a tenancy.
Agreed. And not taken help in managing from someone without this, as you say pretty basic, knowledge either.
OP would be worth you/father reading up on tenancy law to check other aspects of tenancy were done correctly (otherwise for example may not be able to serve section 21)
2
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