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What Does Fixed Term Tenancy Agreement Mean

Your landlord can cancel the rental at any time during the first 6 months of the rental without giving reasons, but in general, you will receive a rental guarantee after 6 months – see „Part 4 Rental” below. You must always receive a valid written notice of termination and there are detailed rules on the amount of notice you must receive, depending on the duration of the rental (with a few exceptions). Read more in our document If your landlord wants you to go. That`s a good question. Leases can seem confusing and it can be difficult to know what the document means. Let`s go over five things you should pay close attention to BEFORE signing your agreement. Leases do not necessarily have to last 6 or 12 months. Sometimes it`s best to have a varied runtime (e.B. 5, 8 or 10 months of rental) to prevent the property from becoming available in the middle of winter during a quiet period of the year when it may become more difficult to find a tenant. You should also check if the rent goes up if another person moves in with you. Landlords are allowed to increase the rent when another person moves in, but only if the lease indicates how much it will increase.

At the end of the limited term, each party has the right to terminate the contract with notice. If your landlord does not renew your rental for another fixed term, it will automatically be renewed as a periodic rental, giving both parties more flexibility to terminate the contract. RTB has information on its website about how a tenant can terminate a tenancy. Its one-stop shop has more useful resources and an online chat feature. Are there any special rules or guidelines for pets, smoking, roommates, or accessibility? These are not mandatory conditions that all tenants and landlords need to discuss, but for some tenants, they will be very important factors to consider. While fixed-term rentals are generally the preferred type of agreement for tenants and landlords, it can sometimes be advantageous to enter into a periodic tenancy. You can enter into a periodic lease at the beginning of the tenancy by specifying a move-in date without an expiry date, or if a fixed-term contract is not renewed for another term, it will be automatically reimbursed to a periodic lease. Periodic rentals can give both parties flexibility in termination as there is no expiration date and termination of the property can be done at any time according to a period of periodic termination of the lease. .