Which is better a fixed term or periodic tenancy?
Which is better a fixed term or periodic tenancy?
Fixed terms are often preferable as they give both landlord and tenant more security. Plus, they give landlords an opportunity to increase the rent. Sometimes, however, such as if either the landlord or the tenant are uncertain of their plans, it may be better to let the tenancy run on as a periodic, as this is more flexible.
What happens if tenants move out at end of fixed term?
If the tenants move out at the end of the fixed term, the tenancy ends. It will no longer exist. This is under a rule quaintly known by lawyers as ‘effluxion of time’. So, if the tenants have moved out by that date, then that is the end of it.
Can you increase your rent after a fixed term tenancy?
Your rent cannot normally be increased unless you agree or the tenancy agreement allows it. A rent review clause in a fixed-term tenancy will not apply after the fixed term ends, if your tenancy becomes “statutory periodic”.
What happens if a tenant stays past the lease term?
If the tenant somehow ends up staying past the lease term, don’t accept any rent payments from them. Once you start collecting rent, the tenancy becomes a month-to-month tenancy, and you won’t be able to treat them as a trespasser and evict them.
What happens on the last day of a fixed term tenancy?
The situation is different if the tenants remain living at the property. Although, save where there is a contractual periodic tenancy set up (see below on this), the tenancy will still end at midnight on the last day of the fixed term.
Can a landlord evict a tenant after a fixed term?
Landlords will almost always be entitled to evict tenants who remain living in the property after the fixed term has ended. The only circumstances where this is not the case is where the tenant has a protected tenancy under the Rent Act 1977.
If the tenant somehow ends up staying past the lease term, don’t accept any rent payments from them. Once you start collecting rent, the tenancy becomes a month-to-month tenancy, and you won’t be able to treat them as a trespasser and evict them.
Can a holdover tenant stay in a rental for a month?
If the tenant continues to pay rent, the tenancy essentially becomes a month-to-month tenancy. A holdover tenant is legally allowed to stay in the rental unit as long as the landlord takes no action to remove them.