N
NorthenLight
Guest
I have a query regarding the continuation of tenancy contracts.
We have a tenant who has just entered the third year renting our apt. He signed a contract at the outset of the tenancy but since then has renewed only by email (i.e. he has not signed a new contract). The original contract was for 12 months.
One month into the third year he has decided to leave and has given us 28 days notice. This means we now need to pay for an agent to let the place and find a new tenant. It also means that we may have to pay the full rent if a new tenant cannot be found during the notice period.
Under the terms of the original contract the tenant is liable for all of these costs until a suitable tenant is found to take on the lease. On this basis we have informed him that we will not be returning his deposit until this matter is resolved. We do not want to be unfair to him and are doing all we can to find a new tenant. But we also do not to be unfairly out of pocket. That said, if we are in the wrong and we should have had a new contract signed each year then we will do the right thing by him.
This wasn't intended to be an investment property. It was originally our home but the only way my wife and I could make the payments on the mortgage (after losing our jobs in the recession) was to emigrate for work and rent it out. We make no profit at all. In fact we are sending a significant sum home each month to subsidise the costs. We are just about getting by but unable to save for unexpected costs.
Can anyone clarify if the contract is still valid and the tenant should abide by its terms? Or, is he correct and leave with just giving 28 days notice?
Many thanks
We have a tenant who has just entered the third year renting our apt. He signed a contract at the outset of the tenancy but since then has renewed only by email (i.e. he has not signed a new contract). The original contract was for 12 months.
One month into the third year he has decided to leave and has given us 28 days notice. This means we now need to pay for an agent to let the place and find a new tenant. It also means that we may have to pay the full rent if a new tenant cannot be found during the notice period.
Under the terms of the original contract the tenant is liable for all of these costs until a suitable tenant is found to take on the lease. On this basis we have informed him that we will not be returning his deposit until this matter is resolved. We do not want to be unfair to him and are doing all we can to find a new tenant. But we also do not to be unfairly out of pocket. That said, if we are in the wrong and we should have had a new contract signed each year then we will do the right thing by him.
This wasn't intended to be an investment property. It was originally our home but the only way my wife and I could make the payments on the mortgage (after losing our jobs in the recession) was to emigrate for work and rent it out. We make no profit at all. In fact we are sending a significant sum home each month to subsidise the costs. We are just about getting by but unable to save for unexpected costs.
Can anyone clarify if the contract is still valid and the tenant should abide by its terms? Or, is he correct and leave with just giving 28 days notice?
Many thanks