Renewing Your Tenancy Agreement: A Guide for Tenants
As your tenancy agreement approaches its conclusion, you might find yourself reflecting on how your rental property has evolved from a new and unfamiliar space to a comfortable home. Before you decide to commit to another year, it’s important to review a few key considerations to ensure your continued satisfaction and security.
At Putterills, we recognise that the renewal process can sometimes feel overwhelming. That’s why we’ve crafted this guide to help you navigate the decision with confidence and ease.
Fixed-Term vs. Periodic Tenancy: Understanding the Options
In the UK, tenancy agreements typically fall into one of two categories: fixed-term or periodic. A fixed-term tenancy lasts for a specified period, often twelve months, after which it can automatically convert into a periodic tenancy, generally on a monthly basis.
When you have a periodic tenancy, you can give just a month's notice to your landlord, or your landlord can give you two months' notice. However, this flexibility can also bring uncertainties. For example, you might have to move unexpectedly, which can be disruptive.
At Putterills, we prefer to keep both tenants and landlords on a 12-month assured shorthold tenancy. We believe this approach provides stability for both parties. Tenants can enjoy the security of knowing they won’t be asked to vacate at short notice, while landlords benefit from the peace of mind that comes with a committed tenant.
Rent reviews, if needed, are conducted on the anniversary of the tenancy, offering a predictable and transparent process for all involved. That said, we understand that life changes, and we’re open to discussing periodic tenancies in cases where tenants have specific reasons, such as planning to move on in the near future.
Renewing Your Fixed-Term Agreement: Ensuring Stability and Security
Renewing your tenancy essentially means entering into a new fixed-term agreement, which can provide both you and your landlord with continued stability. Here are some important factors to consider during the renewal process:
Rent Reviews
It’s common for rent to be reviewed at the time of renewal, particularly in a dynamic rental market. We advise tenants to stay informed about local rental trends—platforms like Rightmove can be useful for this. If you believe a proposed rent increase is too high, don’t hesitate to have a polite and constructive discussion with your landlord or letting agent. At Putterills, we ensure that any rent adjustments are in line with current market conditions and are communicated clearly and fairly.
Reviewing the Agreement
Please take the time to carefully review the details of your new agreement. Ensure that your contact information, tenancy length, and any rent changes are accurate. Putterills Property are professionally and regularly inspected. If your property is not being managed by a good agent, the renewal may be an opportunity to highlight any repairs or improvements required to your landlord.
Thinking of Moving On?
If renewing your tenancy doesn’t align with your current needs, you’re entirely within your rights to seek a new property. Just be sure to provide the appropriate notice as outlined in your current agreement, allowing for a smooth transition.
Seeking Professional Advice
For added reassurance, consider having your new tenancy agreement reviewed by a qualified professional. The UK government website offers extensive information on tenant rights and responsibilities. If your tenancy is managed by Putterills, we’re here to assist with any questions or concerns you may have, ensuring that all parties are satisfied with the terms.
Renewing Your Tenancy: The Final Word
Deciding whether to renew your tenancy is a personal choice that should be made after careful consideration. By weighing the pros and cons, and maintaining open communication with your landlord, you can make the decision that best suits your circumstances.
At Putterills, we’re dedicated to supporting tenants throughout their rental journey. Whether you’re an experienced renter or new to the process, we’re here to provide guidance every step of the way—from finding the perfect property to navigating tenancy agreements. If you’re considering renewing your tenancy or exploring other options, don’t hesitate to reach out to us. We’re always here to help.
