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Periodic tenancy - advice please ( newish landlord)

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Author Topic: Periodic tenancy - advice please ( newish landlord)  (Read 68 times)
Posts: 1

I like property

« on: July 02, 2021, 10:41:50 AM »

Iíve only been a landlord for 2 years and looking for a bit of advice. I have had the same tenants who have looked after my property very well ( offered to paint it etc). They have split up and one half moved out a few months ago. Rent has still been paid on time. The AST notice period was the 30th June( the contract is to the 30th Sep)The remaining tenant has informed me they wish to buy a property but they do not know how long this will take so they are still undecided on what they want to do.
Iím in 2 minds ( hence asking for advice). Give them 4 months notice as per current guidelines, or, allow them to carry on living there on a periodic tenancy. Iíve got no reason to think they wonít carry on paying the rent but as this is the first time I have dealt with this I have no reference point to work from. Any advice would be great fully received.
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« Reply #1 on: July 02, 2021, 10:49:11 AM »

If you have no reason to think they'll not carry on paying the rent... you should carry on receiving the rent... that's what Landlords want. This could happen for a month or two... or many, many months. Why bring something to an end that is working for you, and at the same time inject the pressure of a perceived immovable deadline into the situation for the Tenant? The worst that can happen is they serve you at least a month's notice. Then you can do all the normal stuff about looking for new Tenants, hopefully while your current Tenants are as happy as anything... planning for their future, following the dream of home ownership, free of the exploitation of the Landlord class.

People want fixed term tenancies for security.
People want periodic tenancies for flexibility.
That is true of both Landlord and Tenant.
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« Reply #2 on: July 02, 2021, 10:52:29 AM »

I am very keen to keep things simple.Even if the tenant found the place they wanted to buy now,it could take months to complete.I would be happy getting rent, until such time as you are forced to make a decision. Go periodic anyway,it's the best course of action.
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