End of AST - new AST or periodic

[Hertford23]

I appear to have been more successful with my second tenant and the original 6 month AST is expiring shortly. Is it best to have a new 6 month AST or just to accept rent on a monthly basis ?

Thanks

[Pelican eats pigeon]

Have you asked the tenant whether he/she would like another six months? This would seem to be the logical first step.

[jeffrey]

Also, L needs to decide whether it's better to have:
a. the flexibility of a periodic tenancy, terminable sooner than a fixed term; or
b. the security of a fixed term and (all being well) a reasonably probable rent flow during it.

[Hertford23]

Thanks for the responses.

Are all Landlord (and tenant) rights, like access to the property etc that were in the AST still valid through the periodic tenancy ?

In addition does this change of tenancy have any effect on the tenant deposit which remains with the DPS ?

Thanks

[Ericthelobster]

Are all Landlord (and tenant) rights, like access to the property etc that were in the AST still valid through the periodic tenancy ?

Yes

In addition does this change of tenancy have any effect on the tenant deposit which remains with the DPS ?

No

It's certainly the 'simple' option just to let it go periodic. Personally, assuming I have tenants I want to keep, I tend to explain the two options (periodic vs new 6-month AST) and let them decide which they prefer.

[SEB]

I appear to have been more successful with my second tenant and the original 6 month AST is expiring shortly. Is it best to have a new 6 month AST or just to accept rent on a monthly basis ?

Thanks

If the tenant is someone you would like to keep and the open market in your area may not secure you any more worthwhile rent, a new 6-month AST and not having to deal/worry about the property/income for 4-5 more months would be my preference.

If the tenant is amenable, why not go for 1 year?

I doubt rents will change much over a year and even if they do rise a bit, you always have to balance receiving a slightly lower rent with the security of having a regular income stream without voids for 1 year/6 months.

[Hertford23]

Thanks for all your advice - it was very useful. I will speak to the tenant.