Memorandum of agreement

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  • Memorandum of agreement

    We have a renewal coming up at one of our properties and we are wondering can we use the MEMORANDUM OF AGREEMENT below to renew or do we have to issue a complete new contract???



    MEMORANDUM OF AGREEMENT

    Dated this

    WHEREBY it is agreed by and between the Landlord

    *

    and the Tenants

    *

    in respect of the Premises situate at and known as

    *

    that the Tenancy hereinbefore created on

    *

    shall be extended for a further term commencing on and including

    *

    and teminating on and including

    *

    on the same terms and conditions as contained in the existing tenancy agreement (save that the rent shall be £ per calendar month) (save that the Landlord may at any time give not less than two months notice to the Tenant to terminate the tenancy and the Tenant may at any time give one months notice to the Landlord to terminate the tenancy and for the avoidance of doubt such notice may expire during or at the end of a rental period)


    SIGNED Tenant …………………… Tenant ………………………..

    (By)(For and on behalf of) the (Landlord)(Tenant)

    Signed……………………………………………………………………

    IN THE PRESENCE OF
    Witness Signature ………………………………………………..

    Name and Address ……………………………………………………………….

    ……………………………………………………………….

    Occupation ………………………………………………

  • #2
    1. Is this property in E&W or elsewhere?
    2. Are you L, L's Letting Agent, or T?
    3. What type of property is it: residential or commercial?
    4. If it's residential, is the existing letting an AST/SAT or outside the Housing Act 1988?
    5. Who wants that a new fixed term be granted: L or T?
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

    Comment


    • #3
      This is how my letting agent does renewals. They are a big national chain, and ARLA members, so I presume they know what they're doing (most of the time ).

      Comment


      • #4
        1. Is this property in E&W or elsewhere? - England
        2. Are you L, L's Letting Agent, or T? - Developer who owns a few properties
        3. What type of property is it: residential or commercial? - Residential
        4. If it's residential, is the existing letting an AST/SAT or outside the Housing Act 1988? - AST
        5. Who wants that a new fixed term be granted: L or T? - Tenant

        Comment


        • #5
          1. It looks OK, although the 'whereby' is a bit archaic (and is it "Tenant" or "Tenants"?)

          2. As it's a new letting:
          a. any deposit will needs reprotecting; and
          b. any s.21 Notice already served will cease to be operable.

          3. On the other hand, it's a renewal [a 'replacement tenancy' under s.5(5)], so the 'six-month' rule won't apply if:
          a. L/T/premises are unchanged; and
          b. the old letting ran for at least six months.
          JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
          1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
          2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
          3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
          4. *- Contact info: click on my name (blue-highlight link).

          Comment


          • #6
            Thanks Folks

            Comment

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