At the end of the fixed term notice period you may prefer to renew the tenancy for another fixed term so that each party has more notice than that provided under a 'periodic tenancy'.
Contrary to what many landlords think, in an assured shorthold tenancy it is not actually necessary to sign a new agreement at the end of the original agreement.
If a tenant stays in the property after the fixed term ends it beomes what is known as a 'periodic tenancy'. This means the tenancy continues for an indeffinite period (potentially many years) on the same terms and conditions that were in the original tenancy agreement unless both landlord and tenant agree otherwise.
The advantage for landlords and tenants is security. This is because the renewed shorthold tenancies will give an initial minimum fixed term of 6 months and the monthly rental income will typically be fixed during this period as well.
If there is no new tenancy agreement a landlord can give the tenant notice. This only applies if the original fixed term has ended and it has become a 'periodic tenancy'. The main exception to this notice period is if a landlord agrees to a different notice period.
DOWNLOAD YOUR RENEWAL AGREEMENT HERE
At the time of renewing a tenancy agreement it is common for landlords (or rather their agents) to ask for a renewal fee for 'admin costs'. This is often waived because the reality is that if a good tenant moves out there may be several weeks or longer when the property is empty plus advertising expenses and these will cost the landlord significantly more than any 'renewal fee'. Such fees are now deemed unlawful due to the Tenant Fees Act 2019.
There are three options when it comes to changing your tenancy agreement:
1. Issue a brand new tenancy agreement
2. Make a tweak using an addendum agreement
3. Use a variation of a tenancy agreement which replaces the existing tenancy agreement.
This all-in-one solution includes key documents like Section 21 and Section 8 notices, comprehensive tenancy agreements, and templates for rent increase documents.
Utilise our legally compliant Section 21 notice to smoothly reclaim possession of your property at the end of a tenancy agreement, without the need to provide a reason.
Effectively terminate a tenancy agreement with our Section 8 Notice, particularly useful if a tenant has breached their obligations, such as non-payment of rent or causing property damage.
Seamlessly increase your rental income with our Rent Increase Notice Pack. Follow correct legal procedures, whether through a mutual agreement, a new tenancy agreement, or an official notice.
Establish a legally binding tenancy agreement with our comprehensive template, clearly outlining the rights and responsibilities of your tenant.