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Where to Start - Tenancy Agreements

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Tenancy agreements

There are two main types of agreement: periodic leases and fixed-term leases.

 

Periodic Leases

The most popular option for flatters is the periodic lease. This means there is no term that you’ve agreed to stay for – and all going well you’ll be able to stay in the flat for as long as you want. It also means that the landlord can end your lease at any time, with a notice period – so be good tenants!

One of the main advantages here is that if you have a horrible clash with your landlord and just can’t deal with them, you can move. Also, if you have a terrible experience with a flatmate, or are flatting with your partner and then break up, this type of lease gives you the option to leave. Be sure to part on good terms with your landlord, as a) you want to get your bond back, b) you want to get a good reference for your next flat and c) there are always two sides, and they might just see things differently than you do.

 

Fixed-term leases

A fixed lease can work really well for some people. It gives you complete security for that fixed term, as long as you don’t violate any terms of your lease agreement. However, there are two main drawbacks to a fixed term. At the end of the period of the lease, you can be left without a home with no notice. Be sure that if you take a fixed lease, you are able to renew it with a reasonable period left to run on it. Also, if you have a horrible experience and want to leave the flat, you’re stuck until the end of the term of the lease, unless the landlord or property manager agrees to release you.