Lease renewal

[Rabeah]

Hi everyone,

 

just need help from some of you experienced tenants.

Our tenancy agreement is coming to an end. We would like to extend it with our landlord.

Do we have to contact him or should we leave it due to expected rent increase? We are a little bit afraid that he will increase the rent when we ask for an extension. A longterm neighbour told us 5 months ago that he wanted more rent before we moved in, but didn't get tenants for that amount of money.

When we moved in last year we secured the premises with the reduced rate.

We are also planning to purchase a house in a couple of months/next year (we only need to save more money and waiting that hubby completes his 1st year at his company).

Would it be worth the risk of not having a contract under these circumstances?

[Guest Twistedkemo]

When a lease ends (either 6 month or 12 month tenancy agreements usually) and it's not re signed, then it automatically becomes a rolling month to month lease, meaning that the contract is still in effect (inc. all stipulations in it) except the notice requirements. The tenant or landlord are now allowed to give just one month's notice to quit the property.

 

As a previous landlord it's not worth the advertising costs and admin fees to find another tenant for the sake of a few extra bucks, a reliable tenant is way more attractive.... I'd keep quiet and keep on a rolling agreement. Any rental increase is not going to be $100's more likely than not $20-$30 at a push.

[Sallyh]

When does your lease expire? You can wait and do nothing, but really I would want to know myself whether the landlord was planning on renewing or not. It's kind of Rental Roulette. They really should have it diarised to contact you before the lease runs out. it will become a periodic tenancy if nothing is done about it, but equally you could find that they don't want to renew it and you are having to look for something else last minute. My feeling would be to ask about the renewal.

[Rabeah]

Our lease expires next week. We only know that our landlord is very busy, he is that kind of person forgetting about it due to family+business duties.

We had an 12 month tenancy agreement and don't want 12 month again because we want to purchase a own home in 9 month time. So I think a periodic tenancy would suit us best. But Sallyh you are rigt, it seems to be a little bit of a Rental Roulette.

Twistedkemo you are also right, thanks.

[Sallyh]

You might want to check they are not simply expecting you to move out at the end of next week. Hope it all works out.