Yes, it is possible. A lease is an agreement between you (the landlord) and your tenant. Leases usually include the standard elements, such as the amount of rent, the duration of the lease agreement, who is responsible for different maintenance properties, and penalties that can be assessed for non-compliance with the conditions. The answer is no, he doesn`t. Landlords can terminate their tenant`s rental agreement without justification as soon as the existing lifespan expires. They are not required to renew or renew leases unless this is stated in a written agreement. However, if a lessor opts for an extension of the lease agreement, it may also include changes in the rental price or in the terms of the existing lease. A lease agreement is a succinct document that contains the essence of the terms of the original lease, but also allows the parties to make changes and extend their tenancy agreement. Using this document, the parties fill in the essential information, including the names and addresses of the lessor and tenant, the address of the property concerned, the duration of the new lease and any changes or additions made to the original lease. If your contract is a guaranteed short-term rental (AST) and you wish to remain in the property after the fixed term, a new written agreement (or “renewal”) is not required. The lease becomes a “periodic lease” and continues under the same conditions as before. This is a very common practice and periodic rentals can, in some cases, last for many years. However, there are reasons and benefits to extend the lease for another fixed period.
In the event of the expiry of a lease, the lessor must decide whether or not to renew the contract. If the tenant pays the rent on time, takes care of the property and was a good tenant, the landlord may decide to offer him a lease renewal letter. Issuing this letter to a tenant before the lease expires is a great way to show the tenant that you still want them to live in your property. Here you will find everything you need to know about a leasing renewal form….