When your Rent Now tenancy ends you have a few options: end the tenancy, sign a renewal contract or allow it to 'go periodic'.
Tenants can normally move out on the last day of the fixed term without the need to give any notice. They would no longer have to pay rent or have any of the other rights or obligations under the contract. The contract will be considered to have ended by 'effluxion of time'.
We've outlined this and the other options for you below.
1. Ending the tenancy
Check out this blog post on what happens at the end of a fixed-term contract for more information. Our guidance on returning the security deposit is here.
If the tenant is moving out we also recommend the Government's guidance here. You might also find their example forms useful; you can find them here.
2. Periodic Tenancies
All tenancies created by an OpenRent AST automatically turn into a periodic tenancy if the tenants don't move out at the end of the fixed term. This means there's no requirement to renew your contract for it to remain in force.
If you're looking to increase the rent, this can be agreed by email with the tenants rather than signing a renewal or new AST. Once the tenants agree and pay the first instalment of the increased amount, that becomes the new rental amount. The rest of the AST remains in force as before.
Since the Deregulation Act (2015) has come into force, there is no need to re-protect the security deposit or serve additional prescribed information as long as the deposit was properly protected when the tenancy was arranged. The deposit remains protected, and the tenancy remains between the same parties and for the same property.
If you have already set up a tenancy through us, then your entire current contract is visible at any time via our website. Please note Section 12.2 lays out the relevant notice period for a periodic tenancy, where the tenant needs to give written notice of at least one month.
3. Renewing Your OpenRent (Rent Now) Tenancy
You can sign a new fixed-term tenancy with the same tenants if you're in the last two months of your tenancy. This is completely free.
To do this through OpenRent:
- Go to 'Tenancies'
- then 'View Tenancy'
- and then 'Click to show Renewal Options'.
This will issue a new contract to the tenants and guarantors.
First they sign, followed by the landlord. The deposit will remain in the landlord's DPS account and we'll re-issue the How to Rent guide and the Prescribed Information about the tenancy deposit.
Can I Change the Rent, Guarantors, Tenants, Fixed-Term Length, etc. when I Renew?
When you sign a new AST through us you can change:
- the rent amount
- notice address
- break clause
- tenancy length
- custom clauses
You can't currently change:
- the landlord
- landlord co-signatory
- tenants
- guarantors
- the property address
See here for guidance on how to reduce the deposit amount.
If you want to change any of this through OpenRent then you would need to set this up as an entirely new tenancy. For help with this please email info@openrent.co.uk
More Information:
- What Happens at the End of a Fixed-Term Contract