Here`s what you need to know about these two common types of rentals and what they mean for your real estate portfolio. The tenant, who was looking for another rental property because her living conditions had changed, was not obliged/contractually obliged to stay for the full 3 months. Hello, I need help and advice, please. I am a landlord and the first 2 years with my tenant, we had an AST and the deposit was protected, but at the end of the second year we agreed to get the rental contract between us as “Rolling Contract” or [periodic rental, as I know now], how the tenant was not sure to stay or any future plan, etc. Suffice it to say that I expired the protection of deposits and that the periodic lease lasted 2 more years! The relationship with the tenant was quite correct for the 4 years and even until the exit, a notification of several months was given by the tenant the exit obligations were honored, etc. on both sides and the deposit was returned in its entirety , although I mentioned that I had expired the deposit protection, still no problem. Now 10 weeks later, I get a letter before the action [Model] failure to protect the down payment for the rest of the year and pursues me up to 1 to 3 times the amount of the deposit!………… Where am I now? Much appreciated advice as quickly as possible. However, the only difference between a periodic lease and a “normal” lease is the definition of the term.
Periodic contract – Disadvantages for an owner: with a fixed rental period, it is not impossible to sell if you need it. Under these conditions, it has only the potential to eliminate part of your market, especially buyers who have sold in a standard contract term and who have to move to their purchased property, for example. B 6 weeks. The time they have to wait until your tenant withdraws from the premises may not be right for them, so it is less likely to make an offer. If your property is a “unique” or unique property, where there are only a limited number of comparable homes/properties on the sale market, buyers have no problem making an intension offer and are pleased that a fixed rental period, i.e. high demand, is completed with a low supply. If there are many similar homes/real estate on the market at the same time, then the offer will be higher where buyers can shop around. I am a nice owner (?native). The tenants have been in the house next door since 2012.
We both send each other to eat, etc. I could see that they were a young family and sometimes fight to pay, so had no heart to increase the rent. Passed 2yrs tenant missed payments and then pay later (at a mortgage cost to me). Family inform me that the tenant has a gambling problem (explained why I would receive a text that it would come with the rent then a no-show). We discussed how the Council could be allowed to pay me directly for what they agreed to, but then come back (woman set it up, Hubby cancelled it). Then, still chase the rent. You have a periodic contract. I asked them to go or pay a higher rent (A because they pay well below the market value B I have to increase the rent because of the daily loan fees and financial changes in my life). The increase in rent is always below the market price. I wanted to serve Section 21, but I`m worried because I didn`t put his deposit in a DPS. I don`t want to give another 6m AST, but if I give a new 6m AST, could I put a rolling deposit in a DPS now? Tho said he wouldn`t sign unless it was for 5yrs! Can I serve section21 and return the deposit without risking that the tenants claim 2-3 times the deposit? I am guessing that if they refuse to move me, I have to serve section 8 @MdeB thank you for your help.
It`s the first time I`ve misunderstood you, sorry.