Tenancy agreement renewed

[ToffeeGirl]

Hi all!

 

I maybe putting this question in the wrong subject?

 

But me and my husband are wanting to renew our tenancy agreement for renting a flat and want to do another year. But want to know wot happens etc...

we also have to pay a fee of £60! We don't mind that but want to know what they do with that money?

 

Our landlord lives a long way away so we mostly have the agency look after us so we just want to know what we have to do to say we want to add another year on...

 

thank u all and have a LOVELY Sunday!

[stu007]

Hi ToffeeGirl

 

A Warm Welcome to CAG

 

I am going to move your thread to the Residential lettings Forum leaving a short redirect for you, I feel you will get better advice on your issue in that forum.

[f16]

ToffeeGirl,

Just let the "Agent" know that you would like to "stay" another year.

 

Judging by the fact that the agent is asking for a fee of £60.00. .... Sounds like your a "Good Tenant"

and that is the "admin. fee" for renewal.

Good Luck

[abc123def]

My last private rental incurred a renewal admin fee of £150 so £60 is quite cheap compared to others! They print out another form for you to sign and file it. Ask if they will let you go onto a rolling contract rather than a fixed term, which means that on the plus side, once you have paid this renewal fee you don't pay any more renewal fees but on the downside means that although you can give one months notice to leave at any time your landlord can give you two months notice to leave. However if the property was bought to let and you are good tenants then there is no reason you would be asked to leave so it is often the cheapest option. Some agencies refuse though, because these 'admin' fees every six months keep the business affluent or afloat so only use fixed term tenancies. Worth an ask.

[mariner51]

No renewal fee is payable if LL allows AST to become SPT at end of fixed term. Often called a 'rolling month tenancy' (if rent is payable per cal month), it allows T to give min 1 clear month notice after end of AST fixed term, such Notice to expire at end of a tenancy period (normally the day before the AST rent due date. The LL has to give 2 months valid Notice before he can apply for a Court repo order, normally can take another 1 - 2 months. A LL cannot serve a Notice to Quit, only Notice to say he intends to seek Court repo Order after expiry date of the Notice

A T can serve a min 1 month NTQ, but once given it cannot be withdrawn.

 

 

The alternative is to sign a new AST with 12 month fixed term, for which LA can charge a renewal admin fee. It means that LL cannot evict T until after expiry of fixed term, but equally T cannot give NTQ during fixed term and is committed to rent & property for 12 months. T can negotiate early legal surrender with LL, during the fixed term, but on LLs terms which could amount to remaining rent for fixed term max, though usually limited to advertising cost and rent payable until new T occupies.

 

 

You may want security of tenure for 12 months at a fixed rent, but what if your circumstances change? job relocation out of area, family illness etc. If you sign a new AST, LL can set new rent. He can even if SPT, but this should be via s13 which gives T 1 month to appeal to ind local rent assessment panel if T disagrees with amount LL proposes.

 

 

The choice is yours, new AST or SPT?

What do you want and is your circumstances likely to alter?

 

 

Most LLs are content to allow good Ts to continue with SPT, unless they want a more secure income for 12 month or wish to increase the rent.

[Steve__M]

...but want to know what they do with that money?

 

They desperately need the money to fuel their BMWs.