Periodic tenancy and transfer fees

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Periodic tenancy and transfer fees

    We are considering renting out a property and creating a periodic tenancy rather than AST from the start. However, we are concerned that we will need to pay the freeholder £25 per month transfer fee (per lease) required when we underlet as the tenancy will, in effect, be renewed on a monthly basis. Views/advice appreciated.

    Thank you.

    #2
    What does your lease say about using your flat as a private residence ? Letting on a monthly basis , it becomes a B & B and may need licence from your local council.

    AST gives you the legal right to get back your flat if tenant refuses to pay the rent.

    Comment


      #3
      Dear Gordon

      Thank you so much for your response.

      It is a residential lease but we can sub-let. I was not aware a periodic tenancy could be considered a B&B. Many ASTs are allowed to roll over to periodic tenancies so I am perplexed by this. If there is any other information you can signpost me to I would be grateful. We want to do things correctly and legally both in terms of statute and our lease.

      Comment


        #4
        "However, we are concerned that we will need to pay the freeholder £25 per month transfer fee (per lease) required when we underlet as the tenancy will, in effect, be renewed on a monthly basis."

        A periodic tenancy is a single tenancy not a series of tenancies. You only have to give notice once.

        Comment


          #5
          Dear Lawcruncher

          Thank you for clarification.

          Comment


            #6
            Originally posted by vmart View Post
            Dear Gordon

            Thank you so much for your response.

            It is a residential lease but we can sub-let. I was not aware a periodic tenancy could be considered a B&B. Many ASTs are allowed to roll over to periodic tenancies so I am perplexed by this. If there is any other information you can signpost me to I would be grateful. We want to do things correctly and legally both in terms of statute and our lease.
            My understanding - Before the introduction of AST rental agreements around 1997, tenants could move in and register their tenancy with Local Council and become regulated tenants with permanent rights to stay on, in the property.

            The AST agreement was introduced in 1997 and gave the property owner assurance against loss of flat with the right to claim back the flat at expiry of the rental term, ( and this AST agreement is respected by all letting agents and the Courts ).

            Now you are considering dumping the "front end" AST agreement and just keep the " tail end " periodic bit ?? I don't know what signpost I can give you but I believe a flat with regulated tenant may sell at half price.

            Comment


              #7
              Dear Gordon

              Thank you.

              We've found the answer to the question we were looking to answer. My main concern was whether or not we would need to pay the landlord a transfer fee every month.

              Periodic tenancies do not create Regulated Tenancies (RT). The tenancy agreement would need to be before 15 January 1989 for it to be a RT.

              We might go the AST route and assuming all pans out allow it to roll over to a periodic tenancy. If we do let, we will be looking for a long-term tenant ideally.

              Comment

              Latest Activity

              Collapse

              • Reply to Converting front garden into a driveway.
                by Section20z
                I think paving could be argued to be a normal use of a garden, (bearing in mind it will need to be permeable anyway for building regs) If the other 2 flats aren't going to complain then I'd be inclined to just do it.
                What's the worst that can happen.......
                31-03-2020, 21:39 PM
              • Converting front garden into a driveway.
                by ForumFirstTimer
                Hello,

                I purchased my ground floor flat last year, its a converted house with 3 flats in. It has a small front garden which is 100% mine within the lease, but it is large enough that it would fit a car on it.

                The 'Garden' right now it just patchy weeds.

                My question...
                30-03-2020, 15:09 PM
              • Sole Director
                by Stacker
                Hope you are all healthy and safe!....our AOA state that a quorum is required. The sole director has appointed another director, without one shareholder knowing about the meeting my question is would the meeting have been quorate and could the company secretary act ( one they hire not a member) be part...
                29-03-2020, 10:41 AM
              • Reply to Sole Director
                by Stacker
                The articles clearly sate no decisions to be taken unless the meeting is quorate meaning directors - the board, the same for shareholder meetings. A sole director can impose his sole authority if he is the only shareholder however the company has AOA which clearly state all meetings are to be quorate...otherwise...
                31-03-2020, 12:55 PM
              • Reply to Sole Director
                by Stacker
                Sorry leaseholder 64 that is wrong...
                31-03-2020, 12:51 PM
              • Reply to Converting front garden into a driveway.
                by Lawcruncher
                They may not "need" payment. It depends on what the lease says. There are three possibiities:

                · The lease says nothing about making alterations or additions or. if it does, the changes you propose are not covered. In that case you can go ahead without asking the landlord....
                31-03-2020, 08:37 AM
              • Recourse for work we paid out based on freeholder's incorrect advice
                by eshroom
                When my mum bought her flat exactly 5 years ago, she discovered an issue with the buildings wast pipe, which was under her basement flat. It had been leaking and caused a foul smell.

                She informed the freeholder of the urgent drain issue and they said it was not something for them to investigate...
                30-03-2020, 21:50 PM
              • Reply to Converting front garden into a driveway.
                by ForumFirstTimer
                thanks for your reply.

                What would they specifically need payment for? The fact that it's going to be used as a driveway or because I am changing the front garden from grass (solid and weeds) to paving?

                thanks
                30-03-2020, 21:11 PM
              • Reply to Converting front garden into a driveway.
                by nukecad
                You would need the freeholders permission for a start, and if they allow you then they will probably want payment for that.
                30-03-2020, 19:50 PM
              • Pansies before people
                by D P Dance
                The managing agents of one of my rental properties, who have been vilified on Trust Pilot, when asked if they are considering relief for landlords whose tenants have defaulted on their rent have refused point blank to consider offer help and have told me I quote

                .. you need to accept the...
                24-03-2020, 13:24 PM
              Working...
              X