End of fixed term tenancy - now what?

[davtam]

Hi

My tenants fixed term at my IP is up in 3 weeks.

From what I understand, at the end of the fixed term, the tenancy just goes from fixed to periodic if I do nothing.

I am happy with that, but does anyone have any tips on what else I can or should do?

They are generally good tenants, I'm happy for them to stay

Cheers

[Orkibi]

Inspect the property
Meet up with the tenants see if they wish to satay, and that the property have No damage.
make sure they are able to Pay around market rent .
Make sure they have sufficient bond for 3 weeks of market rent.
Writ new agreement if you are happy with the above.

seek professional advise

[Nice]

What Orkibi says.

Running rental properties is a business, not a pastime.

[davtam]

Inspect the property
Meet up with the tenants see if they wish to satay, and that the property have No damage.
make sure they are able to Pay around market rent .
Make sure they have sufficient bond for 3 weeks of market rent.
Writ new agreement if you are happy with the above.

seek professional advise

I will arrange an inspection.

Based on my own research, the property is achieving market rent - or slightly above. It was comfortably above market value 12 months ago.

They have already provided 4 weeks of bond, at the current rent

What should the new agreement contain?

The existing one is the standard agreement, plus a few of my own conditions (which I got from another thread on this site)

[Nice]

New agreement doesn't necessarily need to contain anything that the old one didn't. Should be for another fixed term period though.

It does need to be done between 90 and 21 days out from end of the old one, otherwise it reverts to periodic. You may have already run out of time ?

[davtam]

Hi, yes its just under 20 days - however I'm quite happy to revert to periodic. Cheers

[Keys]

Inspect the property
Meet up with the tenants see if they wish to stay, and that the property has no damage.

Too late for that.

Hi, yes its just under 20 days - however I'm quite happy to revert to periodic. Cheers

make sure they are able to Pay around market rent .

Too late for that.

Write new agreement if you are happy with the above.

Too late for that.

[Keys]

I am happy with that, but does anyone have any tips on what else I can or should do?

For next time. Remember to instigate any changes between 90 and 21 days out. Include in your tenancy agreement a rent increase clause. The RTA has three of them. Use one.

[davtam]

Thanks Keys

Re you above post - Can I not perform a routine property inspection, after providing notice?

[sheree99]

Thanks Keys Re you above post - Can I not perform a routine property inspection, after providing notice?

You should be doing then regularly anyway 3, 4 or 6 mthly. If it is the normal time for an inspection do one, with the normal notice being issued

As you are already under the 21days till the end of the FT it is treated like a periodic tenancy so if the tenants wanted to leave they would now need to give you 21 days notice.
If a fixed term is flowing onto a periodic tenancy there is no need to write up a new tenancy agreement.. The original one remains the main tenancy agreement its just a periodic now as the fixed term dates have ended
Rents can be increased every 180 days from the beginning of the tenancy or after the last rent increase so should be reviewed regularly anyway and increased where necessary. Fixed term tenancies can have a rent increase if that clause is in your tenancy agreement. As you are not writing up a new agreement but the fixed term is just changing to a periodic you can give a notice of increase at any time, if you wanted to.
The bond just carries on as normal so no need to do anything there. Note you can ask for an increase in the bond when you increase the rent so it always equals 4wks rent ( the bond you have )
And remember that any clauses you add must comply with the RTA as you can not contract out of the RTA.

[Keys]

Meet up with the tenants see if they wish to stay,

You have no choice. Too late for that choice for you. Periodic tenancy termination rules apply.

And remember that any clauses you add must comply with the RTA as you can not contract out of the RTA.

Again, too late for that. The expired FTT agreement applies. Any changes to the agreement, even with the tenants approval, can be reversed by the tenant.

[sheree99]

. Again, too late for that. The expired FTT agreement applies. Any changes to the agreement, even with the tenants approval, can be reversed by the tenant.

I wasn't referring to any changes to a new agreement as, as I said, the fixed term one remains in place it just become a periodic.

I was however referring to the OP stating that 'The existing one is the standard agreement, plus a few of my own conditions (which I got from another thread on this site)

[Keys]

Ah, understood.

[skid]

So is it not possible to create a fixed term tenancy agreement if it is currently on a periodic?[with both parties agreement]?

[Keys]

Indeed it is. However, changes to the terms which exist in the periodic agreement are at risk for 12 months following the signed document.