Ending a Tenancy Agreement

Ending Tenancy Agreement, with a fixed term tenancy agreement, either party can either choose to renew or to not renew. So eight to ten weeks out from the end of that fixed term agreement, we’d be in touch with both parties to see what their intentions are around that. If the tenants does not wish to sign a new tenancy agreement, they must give at least 14 days notice. On the other hand, if a landlord does not wish to sign a new tenancy agreement, they must give 60 days notice to the tenant to give them ample time to plan out their move. If neither party gives notice and there’s no new lease agreement signed, and the tenant remains at the property past the end of that fixed term agreement, the agreement becomes what’s called a periodical agreement. A periodical agreement continues with the same terms and conditions as the previous agreement but has no end date. To end a periodical agreement at any time, parties must give notice appropriately as I’ve outlined.

Our Recommendation

We recommend maintaining fixed term agreements between our landlords and tenants, as quite often, the landlord’s insurance policy will not cover periodical agreements, or will only cover certain things on that policy. It’s also better for planning your financial situation, as a periodical agreement can be ended by a tenant at any time with 14 days notice. If you have any further questions about handling lease expiries or anything else to do with property management services, please give us a call. I’m David Watt from Hicks Real Estate.