Tenant give notice and changes their mind

[santoro]

Our tenant is 7 months into the year lease and had given notice to terminate the lease last week in order to move for a new job.

They have now changed their mind and wish to continue with the lease.

what are the landlords options?

Can the landlord refuse this change of mind?

We have been renting below the market price and wondering can we bring about a new lease now?

 

[Bronte]

Why would you refuse them staying? You're allowed increase rent once a year in line with market rates. Not sure if her serving you notice means that now you can start a new lease. Not sure if the PRTB legislation has covered the change of mind scenario.

You could suggest the rent increase to the tenant, I have a feeling she changed her mind because she cannot get anywhere cheaper than you. It's a landlords market currently.