When your Rent Now tenancy ends you have three options:
You can read more about all of these options, and their legal implications in our blog post, Going Periodic, What Happens When A Tenancy's Fixed Term Ends?
Which ever option you choose, you can find a step by step guide below:
1. Ending the tenancy
2. Periodic Tenancies
This is the default option. 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
Once your tenancy is in the final two months of the fixed term, or at any point after that, you can use our free Renewals Service to create a new fixed term contract.
Read how to create a renewal here.