Is It Too Early to Negotiate a Longer Lease?

PeterJames123

Hi everyone,

We moved into our new rental here in October last year. Buying a home isn’t an option for us right now, and we’re really hoping to stay here long term — the kids are settled, we like the area, and it feels like home.

The problem is, we feel a bit restricted when it comes to buying certain things (like bigger furniture or making the place feel more permanent) because we honestly have no idea what the landlord will decide when October comes around.

Is it too early to approach the landlord or letting agent now (May) to discuss extending the lease or negotiating a longer-term agreement? Or would most people wait until closer to the renewal date?

Would appreciate hearing if anyone has been in a similar situation or has advice on the best timing.

Thanks!

anselld

I would be inclined to just wait for the Renters Rights Bill to be enacted.

saajan_12

The new bill will address some of this, but if they plan to sell etc then they might still be able to evict, which doesnt' really help you. 

No harm in asking, if they're looking for a long term rental and happy with you as tenants then they may well agree. If not then at least you know. I've done a 3y fixed term for tenants who wanted it before, with a slight rent increase built in so that neither side was losing out. That's because I'm a long term landlord, not in the business of voids and finding tenants every year if I can avoid it. However some might be using renting as a stop gap for a year before they have other plans for the house, so better that you know which one sooner than later.