Company Let - AST fixed term to SPT or equivalent?

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    Company Let - AST fixed term to SPT or equivalent?

    Coming up on 10 months ago, I let one of my properties to a company instead of an individual (we eventually discussed it here - http://www.landlordzone.co.uk/forums...n-line-letting) and things, so far, have gone swimmingly (rent has been paid and the property is still there).

    In February it will be 12 months, so the original 12 month fixed term will end. The company has indicated they'd want to continue. I'd be happy with that. I wanted to enquire here - knowing that this agreement is not a Housing Acts AST / tenancy agreement - whether it's good practice to do what most of us do with normal ASTs after their fixed term - that is to allow them to go periodic?

    I am, of course, assuming that's an acceptable path to take and the same considerations exist... I'm guessing that it might not be a SPT in formal name, but that the effect is much the same, we move to an agreement that is rolling and has the same terms and conditions for both sides?

    #2
    If a tenancy is not subject to statutory intervention when it ends, then, absent anything indicating an intention to the contrary, a new periodic tenancy will arise if rent is accepted for any period after the expiry. The periods of the tenancy do not depend on how frequently rent was payable under the fixed term tenancy, but on the rent paid. Thus if a month's rent is paid the tenancy will be monthly. The terms of the fixed term tenancy continue except to the extent that they are inconsistent with the new tenancy. For example, if the new tenancy is monthly and the fixed term required the windows to be cleaned every three months then that term will not apply.

    Comment


      #3
      Thank you, seems simple enough.

      Comment

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