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Wording for Option to Renew Lease
I am letting out my mother's house. I intend to use a standard lease that I got from an estate agents but there is nothing about options to renew.
1. I have a tenant who is ready to sign for an initial year but who seems certain she will wish to renew at the end of that time. I need wording to state that she has option to renew and
2. When should I specify that she has to tell me she wishes to renew?
Grateful any examples from real life!
1. I have a tenant who is ready to sign for an initial year but who seems certain she will wish to renew at the end of that time. I need wording to state that she has option to renew and
2. When should I specify that she has to tell me she wishes to renew?
Grateful any examples from real life!
Answers
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For more on marking an answer as the "Best Answer", please visit our FAQ.You don't actually need to include anything about renewing in an assured shorthold tenancy. It will already include terms about how much notice either of you has to give to end the tenancy. If neither of you give notice in advance of the end of the initial term, it becomes a statutory periodic tenancy and rolls on from month to month until either of you gives the requisite notice. It continues on the same terms as the initial contract. Alternatively, if the tenant intends to stay for longer and wants another fixed term you can simply agree another contract period with her and sign new tenancy documents.
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