Lettings • Management • Rent Guarantee | 023 9300 8021 • hello@fikacoliving.co.uk
Lettings • Management • Rent Guarantee | 023 9300 8021 • hello@fikacoliving.co.uk
When you moved into the property, your tenancy agreement contained an initial 'fixed term' period which means you legally agree to pay the rent for that period of time, whether you are living at the property or not.
If you wish to continue living in the property after the fixed term has expired, renewing your tenancy is not essential as it will automatically continue as a periodic (monthly rolling) tenancy with the same terms and conditions as before, however, there are pros and cons to both fixed term and periodic tenancies, the main ones being rent increases and notice to end your tenancy.
In simple terms, when the fixed term ends, there are three things that can happen:
A fixed term offers you and your landlord a guarantee that the conditions of your tenancy agreement will stay the same at least until the fixed term ends. In other words, no changes to your tenancy agreement can be made unless you and the landlord otherwise agree.
When renting a room, the usual length of a fixed term is 6 months, however, some landlords may accept less, for example, 3 months.
Rent Increases
If your landlord wants to increase the rent, they must wait for the fixed term to end (unless you agree and sign a new tenancy agreement). The fixed term, however, also means that you are legally liable to pay the rent until the fixed term has ended, whether you are living at the property or not.
Ending Your Tenancy
During the fixed term, your landlord cannot serve you an eviction notice to end your tenancy before the fixed term has ended (unless you have broken the terms of your tenancy), however, bear in mind that you cannot end your tenancy early either, unless your landlord agrees.
Renewing the Fixed Term
At the end of the fixed term, you may wish to renew your tenancy for another fixed term as this can provide longer term security for both you and your landlord. If you and your landlord agree to renew the fixed term, you will both need to sign a new tenancy agreement.
The ‘period’ in a periodic tenancy is the same as that for which the rent is payable, e.g. if you pay the rent monthly, the period will run from month to month. This is very common practice and periodic tenancies can, in some cases, continue for many years.
Periodic tenancies generally offer you more flexibility, but also your landlord too, so it's important to consider your options and how much flexibility you want or need.
Rent Increases
A periodic tenancy gives your landlord the flexibility to increase your rent at any time (which can usually only be increased once every 12 months) and assuming the correct procedures are followed and the rent increase is considered 'fair', you may not be able to negotiate and will be legally liable to pay the rent increase.
Ending Your Tenancy
A periodic tenancy, however, gives you the flexibility to end your tenancy when you wish (assuming the correct notice is provided which is usually one month), but it also gives your landlord the same flexibility to serve you an eviction notice at any time too.
Continuing on a Periodic Tenancy
If you wish for your tenancy to continue on a periodic tenancy, your agreement will usually have a clause to automatically allow for this and therefore there is nothing you or your landlord needs to do.
Deciding whether to renew your tenancy or not can sometimes be overwhelming, so here's some things to consider that may help:
Drop us a message on your tenant app!
Alternatively, you can call us on 023 9300 8021 or email us at lettings@fikacoliving.co.uk.
Copyright © 2022 Fika Co-Living Limited. All Rights Reserved.
Fika Co-Living Limited is a company registered in England and Wales | Registered Address: Station House, North Street, Havant, Hampshire, England, PO9 1QU
Registered Number: 11104777 | VAT Number: 438987821 | Members of the Property Redress Scheme (PRS027320) and Client Money Protect (CMP008727)
This website uses cookies. By continuing to use this site, you accept our use of cookies. Privacy Policy