Updating post from Reddit.
Hi all,
Quick details of our situation:
We're considering approaching our agent to ask if we can secure another 12-month AST. The benefits of this to us are security, as we both appreciate that being in a periodic tenancy, we have the risk of losing the house through a S21.
Both of us are paranoid of this happening when baby comes and somehow having to scramble to find a new rental with a newborn, 2 dogs, and potentially while spouse is on mat leave (she works remotely, and will be returning to work after 3-4 months).
As landlords, do you have any guidance on how to approach this? Would it be seen as a positive or negative?
Honestly I wouldn't bother (especially given the flux of legislation). You won't have to "scramble" - it will take at least 6 months to a year and by that stage your fixed period would likely have been over anyway. Despite the various memes and shouting, a 1 year fixed period is only marginally more secure than a periodic tenancy (as currently operational) and the fix also has downsides. And that slightly additional security is only additional in the first 4 or 5 months, after that it is pretty much swings and roundabouts.
Not saying your shouldn't ask if you want - but it is less of a big deal than you imagine.
Agents generally want fixed terms because they make more money that way - so they might approach you anyway.
Fair points! I think the stress of having a S21 is what we’re trying to avoid, so even if we can stay past the issue date of one… it would still mean going through the process of receiving it etc.
I think the key thing for you is that you are happy with your current place that permits dogs and also having a baby on the way fairly soon, your key priority is getting stability / security sorted out so that is one less worry sorted.
If i was the landlord, I think that would be a positive sign. You are someone who is thinking ahead and proactive.
I don't see any issues in you securing the 12 months fixed renewal of tenancy, probably a slight increase in rent but otherwise, should be a formality (probably subject to an inspection).
Thanks for your reply. We’re mostly happy! It’s a Victorian terrace so it has its drawbacks (steep stairs, bad insulation, no parking, small courtyard, definitely not great for the long-term) but we won’t be in a position to buy for another 12-18 months at least, so as you said - it’s about stability until we are at that point. And it’s a nice house that we’ve made our own in many ways. It’s home. Plus, we’re lucky to have found somewhere that we can afford it that will take the dogs.