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Remus2004
Remus2004, Barrister
Category: Property Law
Satisfied Customers: 70635
Experience:  Over 5 years in practice.
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We rent out a property to a young couple. We all signed a 6-moth

Customer Question

We rent out a property to a young couple. We all signed a 6-moth tenancy agreement a year ago, and overlooked the renewal. Both sides want to keep the arrangement, i.e. to stick with the current agreement (including the deposit which has been paid, and is protected etc.) There is no reference in the original tenancy agreement to implicit extension. What documentation needs to be sent and signed now, and what are the consequences of extending it to a 7-moth agreement (which will reduce insurance costs)?
Submitted: 2 years ago.
Category: Property Law
Expert:  Remus2004 replied 2 years ago.
Thank you for your question. My name is ***** ***** I will try to help with this.
If you are both happy to renew the agreement then just sign a new AST.
The alternative is to carry on as you are as they are on a periodic tenancy agreement.
The advantage of a periodic agreement is that it can be escaped by either side by serving notice.
The advantage of an AST is that it gives both of you security which may be a good thing or may not depending on your circumstances.
I'm not sure what you mean by a seven month agreement ? ASTs are for certain lengths. The most common is six months.
Can I clarify anything for you?
Jo
Customer: replied 2 years ago.

Hello Jo. As a clarification, the existing AST refers to the fact that a deposit will need to be provided, etc. Clearly, this doesn't apply. Is there any way that I can simply refer to the previous agreement, rather than amending and redrafting the current one?

I just wanted to be sure that by extending the AST to 7 months, rather than 6 that I was not changing the fundamental basis of the AST.

Expert:  Remus2004 replied 2 years ago.
You can always release the existing deposit and take a fresh one.
But people just sign new ASTs and the deposit roles over all the time without that being an issue. A deposit has been taken.
There is no minimum or maximum length to an AST in fact. The ostensible minimum length just arises from the fact that a court will not make a possession order before then and the 'maximum' of three years arises from the fact that thereafter it will have to be executed as a deed with witnesses.
If you are happy with seven months then that is fine.