Updating post from Reddit.
Hi all.
I’ve currently got a property that I intend to rent out. We are currently going through contracts as we intend to get the tenant to sign on 23rd.
This is my first rental property. I’ve familiarised myself with a short hold assured tenancy and am comfortable with all the terms of this but I’m aware that once the Renters Reform Bill comes into place, this contract is essentially null and void and will automatically convert this into a periodic tenancy.
With this being the case, should I go ahead and get my tenant to sign a short hold agreement (I was looking at using the government draft copy)? Or is there a periodic tenancy document that I can get my tenant to sign to save me having to change the contract when the reform comes into place?
Any advice would be very much appreciated, thankyou in advance
Just use what you would use now. There is no renter reform version at the moment.
We spent a few more hours looking into it and think this is the plan! 6 months fixed and then it’ll automatically become a periodic tenancy, hopefully by this point the reform bill will be in place
Dont say ‘hopefully’. Its not good for landlords (or tenants for that matter).
Considering the types of questions you're asking I don't think you've read up enough.
I would highly recommend you join nrla for their nominal fee and use their advice line and template to walk you through this journey of onboarding
Like I said, it’s my first rental and I’ve never rented anywhere myself so I’m completely new to the concept of rental contracts! I’ve familiarised myself with the short hold and from reading other posts on reddit, seems no one knows what the reform will bring so I’m sure by the point that comes in there’ll be plenty of advice online to be able to follow!
I’ll look into the NRLA, Thankyou ☺️
Or SWLA. Same thing but cheaper - https://www.landlordssouthwest.co.uk/
😱 Please dont rely on reddit or any other social media site for your ‘landlord’ education. The new renters bill is available on the gov website so no, everyone in fact knows whats in it and you can read it here too.
Use current ast for a 6 months or 12 month period. When the RRB comes in, it will revert to a periodic. That could be 6 to 12 months away as yet.
I think this is what we’re leaning towards so I’m glad you’ve also suggested this - 6 months at that and by that point (in theory) the reform bill will be in place - think they initially said end of summer but from what I’ve read it’s looking like it’ll be later than this now?
But why don’t you just do 12 months? Do you want them to move out after 6?
I second this. 12 months gives more security to LL and tenant (in terms of income, steady rent) and you don't lose nothing if the renters record comes in force before then and the tenancy reverts to rolling tenancy.
Its still going through the House of Lords so the new proposed bill is irrelevant at this stage.
IF, the new bill finally passes (and its not a given that all the current proposed terms will stay in the bill as they are) we will all be notified of new requirements and there will be a period of rolling it out, so there will be plenty of warning for any changes needed.