Fixed term tenancy agreements are commonly used in renting properties, as they offer both landlords and tenants a sense of security for a set period of time. However, what happens when the fixed term tenancy agreement comes to an end?
When a fixed term tenancy agreement is due to expire, there are a few options for both the landlord and the tenant. The first option is to simply let the tenancy agreement expire and not renew it. In this case, the tenant would be required to move out of the property at the end of the fixed term.
If the tenant wishes to stay in the property, they can request a renewal of the tenancy agreement from the landlord. This can either be for another fixed term or on a rolling basis. The landlord is not obligated to renew the tenancy agreement, but there are certain legal requirements they must follow if they choose not to renew.
If the landlord wishes to end the tenancy agreement, they must provide the tenant with a written notice of eviction. The amount of notice required depends on the length of the fixed term tenancy agreement and the reason for eviction. For example, if the landlord wants to sell the property or move in themselves, they must provide at least two months’ notice.
It is important for both landlords and tenants to understand their rights and responsibilities when it comes to fixed term tenancy agreements ending. In some cases, it may be beneficial to seek legal advice to ensure that the process is handled correctly.
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In conclusion, while the end of a fixed term tenancy agreement may seem daunting for both landlords and tenants, it is important to understand the options available and follow the necessary legal procedures. Seeking professional advice can also be beneficial in ensuring that the process is handled correctly and fairly for all parties involved.