In the case of a periodic lease, the lessor is only 1 to 3 times the surety as a penalty. That is because there is only one lease that they are in breach; combined rent at fixed and periodic rates. For periodic legal leases, there are two leases, so the owner can be fined 2-6 times the deposit as a penalty for non-compliance. The Housing Act 1988 is the law that provides for and regulates guaranteed and guaranteed short-term rents. Section 5 states that if the tenant remains in the job after the end of the fixed term, then a new “periodic” rent is automatically created. This new periodic rent will be: What happens if a tenant stays in a common tenancy agreement after the end of the fixed term? Section 5 does not apply because it is not an ASA. As a general rule, however, the law involves a periodic rent to which the tenant pays and the landlord accepts the rent. In general, these leases are written as fixed term consequences. They use phrases such as a periodic lease or “continuing from month to month after the end of the fixed term.” In these cases, the fixed term and periodic portion are all parts of the same lease, which is very important for the Commission`s tax purposes. The reference to periodic leases in this manual refers to this type of periodic rental clauses.
My son rents a property on a minimum tenancy agreement of 12 months that expires at the end of the week. The agreement provides that the monthly periodic tenancy agreement is concluded if the tenant decides to stay beyond the minimum 12-month sustainability date. However, the agreement does not provide for notice to terminate the agreement to be concluded, except in the first three months and on the date of the agreement period. Therefore, we interpret this agreement as silent, if a notification is to be made, if the tenant decides to evacuate the property at the end of the agreed minimum term of 12 months, and they can do so without notice. The lessor opposes this and declares that he is required to pay a notice period of several months. She`s right? In your case, your lease expires on September 1, after which the contract becomes a legal futures contract. So I propose: 1. Don`t let yourself be put in the pressure to agree that they are going to make a new lease; Tell them that you need to consider your options before making a decision. 2. Find out exactly what the contract says. Don`t let them explain it to you, because they`ll put their rotation on it. But ask if there are other tenant search fees; They can say “no”! 3.
Decide what options you have and what impacts have on it. Options can be: – Cancel the contract and manage yourself. – terminate the contract and find another manager. – Let the agent issue a new fixed-term contract (but be wary in the long run if they calculate research fees in advance based on duration) – allow the lease to become periodic.