How Do I Renew My Tenancy Agreement

My point is to make sure that at the end of a fixed term, you check the damage and redefine the deposit details so that the system provider knows that a new lease has started. Protection helps landlords because they are diligent in respecting their duty of care in the processing of tenant bonds. You should try to write to your tenants at least two months before the end of their initial fixed-term contract, so they don`t even have time to wonder if they can live elsewhere! Tell them that you want to renew your lease and ask them to inform you at least one month before the expiry of their contract if they wish to renew it. What is important is that they have a fixed-term lease and that the lease cannot be terminated for 6 months, even if it has a break clause that can do so (provided it is their first lease in the property). My partner and I have a 12-month contract that ended on February 8, 2016. We assumed it was an automatic periodic rental agreement, but we received an email on February 29 to say they wanted to increase our rent from $800 a month to $825. We responded and said we would like to make a periodic lease, and they sent us a short-term lease agreement that stipulates that 825 $US must be paid from March (March 8). You also said that a one-month period must be given by both parties. My questions are this: There are often pros and cons for both parties when it comes to extending rents.

Keeping tenants courteous for longer not only saves you time and money, but also gives you the peace of mind that accompanies someone who is familiar in your rental unit. However, if you currently have an unwanted tenant, it may be worth considering the time and money to return your rental unit. Another reason for the extension of the lease is that you can change the terms of the lease. In other words, you are able to increase the rent. However, you have to compensate for the increased income against the tenant`s possibility because of the higher rent. There are usually two common ways to renew an existing lease. The good news is that both processes are fairly straight, so even if you`re not the most tranquilized tool of the shed, you`ll be in good hands. But simplistic nature means that I`m going to have a hell of an era that makes this article compelling/addictive, so try to stand it with me without crashing and sinking like a rabid dog. For example, if the landlord wants to increase the rent, he must wait until the end of the fixed term or get the tenant`s agreement and have an endorsement signed.