"Solicitor Approved and Incredibly Easy to Use"
Don't risk it
There are many templates on the internet but many are legally out of date and invalid.
They could cost you £1000's in delayed evictions. Do not make that common mistake for the sake of £15!
These legal forms and guidance notes have been professionally prepared.
No Hidden costs
Unlike most of our competitors we do not sign you up to any monthly memberships, clubs or tie-ins. It is just one simple price for a high quality and up to date legal document that gives you complete peace of mind with a same day money back guarantee.
Description
Renewing Tenancies in the UK: An Addendum Agreement & AST
In the UK, when it comes time to renew a tenancy, landlords have two options: an Addendum Agreement or a new Assured Shorthold Tenancy (AST) Agreement.
Each option has its own benefits and drawbacks, so it’s important to understand which one is right for your situation.
When to Use an Addendum Agreement
An Addendum Agreement is the most straightforward way to renew a tenancy. It is an agreement between the landlord and tenant that adds or amends existing terms of the existing AST.
It is a quick and easy way to extend a tenancy for a fixed period of time, making it a great choice for landlords who need to quickly and easily secure a tenancy.
Benefits of an Addendum Agreement include:
• Faster and less costly than creating a new AST
• Can be used to extend the tenancy for a fixed period of time
• Can be used to increase the rent
• Easy to create and amend
Addendum Case Study
John is a landlord with a tenant who has been living in his property for two years. John wants to extend the tenancy for another year, but doesn’t want to go through the hassle of creating a new AST. He decides to use an Addendum Agreement to add a one-year extension to the existing tenancy. He amends the rent amount to reflect the market rate, and both parties sign the agreement. The tenancy is now extended for another year.
When to Use a New AST
When the existing AST is due to expire, or when major changes are needed, landlords may decide to use a new AST to renew the tenancy. This is a more formal process, and can be used to make major changes to the tenancy, such as increasing the rent or adding new clauses.
Benefits of a new AST include:
• Can be used to make major changes to the tenancy
• Can be used to increase the rent
• Legally binding agreement
New AST Case Study
Leopold is a landlord with a tenant who has been living in his property for two years. John wants to make major changes to the tenancy, such as increasing the rent and adding clauses about pet ownership. To do this, he decides to create a new AST. He adds the new clauses and amends the rent amount to reflect the market rate. Both parties sign the agreement, and the tenancy is legally renewed.
Conclusion
Renewing a tenancy in the UK is a straightforward process, and landlords have two options: an Addendum Agreement and a new AST. An Addendum Agreement is the quickest and easiest way to renew a tenancy for a fixed period of time, while a new AST can be used to make major changes to the tenancy. Knowing which option is right for your situation is key to ensuring a secure and legally binding tenancy.