Periodic to Fixed Term

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    Periodic to Fixed Term

    Are there any special considerations to take into account if a tenant who has been in a periodic tenancy for over 6 months, who now wants a new fixed term for 12 months. The tenants wishes to have the sense of security of a contract.

    Do I just renew from the next rent date for another 12 months or do I renew from that last fixed term period?

    Thanks

    #2
    My advice is to convince the tenant to leave it as a periodic tenancy

    Comment


      #3
      +1

      More incentive for tenant to adhere to contract terms (eg paying rent). If you need, for any reason, to evict much quicker & easier.

      I tell tenants they can stay as long as they like as long as they & I are happy: And my happiness depends on rent in-full, on-time, place looked after, no "real" complaints from neighbours...
      I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

      Comment


        #4
        Tell your tenant that you would charge an admin fee of £200 to setup a new fixed term tenancy and sees where it goes

        Comment


          #5
          Tell your agent you would charge the agent an admin fee of £364 to set up a new fixed term tenancy......
          I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

          Comment


            #6
            The answer to the question is that it's up to the landlord and tenant to agree when the 12 month term begins.
            At the start of the next rental period is a sensible option.

            It would be a sensible time to agree a new rent for the new term.

            I tend to agree with the other comments, but it depends on the market.
            If I were in London, some kind of fixed term would offer greater security and I would want one.
            I work in the West Midlands and none of my tenants has a fixed term (other than new customers) and none of them has requested one or (as far as I know) need additional security.

            The new term offers the tenant greater security but doesn't really do much for the landlord.
            On the other hand, asking for one and being declined may encourage the tenant to look elsewhere.
            Lack of long term security is often cited as the most difficult part of life as a tenant.
            When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
            Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

            Comment

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