Renewal of Short Term Tenancy Agreement: What You Need to Know

If you are currently renting a property on a short term basis, you might be wondering what happens when your lease term comes to an end. It is important to know that the process of renewing your short term tenancy agreement can be straightforward if you are aware of the basics.

Here are some essential things you need to know about renewing your short term tenancy agreement:

1. Timelines: Your short term tenancy agreement will typically specify how far in advance you are required to notify your landlord or rental agency of your intention to renew your lease. In most cases, this is usually around three months before the end of your current lease term. Make sure you check your agreement to avoid any misunderstandings or missed deadlines.

2. Rent Increases: Your landlord may decide to increase the rent when your lease is up for renewal. This is a common practice and is usually stipulated in the terms of your agreement. You should carefully review the terms of the new lease and ensure that you are comfortable with any rent increases before signing the renewal agreement.

3. Amending the Terms of the Agreement: The renewal of your short term tenancy agreement is also an opportunity to review and amend the terms of your original agreement. This could mean adjusting the rental term, modifying the rent payment schedule, or making changes to other provisions of the agreement. If you wish to make any changes, make sure to discuss them with your landlord beforehand.

4. Notice to End the Tenancy: If you decide not to renew your short term tenancy agreement and wish to vacate the property, you will be required to provide your landlord with written notice of your intention to end the tenancy. The notice period will also be specified in your rental agreement.

5. Renewing the Agreement: If you and your landlord are happy to renew the lease, you will both need to sign a new agreement. This will typically include the updated terms and conditions of your tenancy, including any rent increases, amendments, or extensions.

In conclusion, renewing your short term tenancy agreement can be a straightforward process if you are aware of the timelines and other terms outlined in your rental agreement. Make sure you review your agreement carefully and discuss any concerns with your landlord before signing on the dotted line. By doing so, you can ensure that your rental experience remains smooth and hassle-free.