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New Lease Needed?

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  • 03-05-2016 3:46pm
    #1
    enola79
    Registered Users Posts: 28 ✭


    Hi,
    The tenant in our apartment is there just over a year now. The lease she signed when she moved in was for a 1 year period. Things are going well, rarely hear from her and the rent comes in on direct debit every month.
    Do I need to approach her to get a new lease signed? Ideally I'd say nothing, if that's OK. I don't want to put ideas in her head about moving or anything :) If a new lease is not signed are there any possible future consequences?

    thanks


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    #2
    Michael D Not Higgins
    Registered Users Posts: 7,223 ✭✭✭Michael D Not Higgins


    If she's already there past the 1 year fixed period, it has now become a periodic tenancy. The laws of this are governed by Part 4 of the RTA 2004 and no new lease is required. The consequences are just that the tenant may give notice to leave during a periodic tenancy whereas without a break clause they cannot do this while a fixed period tenancy is still in operation. They can however assign the lease if they find a suitable replacement tenant.

    In other words, the only reason to issue another fixed term lease is to ensure the tenant will remain for that period but if you do not, there are no real problems that you will face.

    I would advise you read the RTA 2004. You are a landlord and are required to act under the law that is laid out there and it behooves you to know these laws.


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    #3
    enola79
    Registered Users Posts: 28 ✭enola79


    Great, thanks, I'll check it out


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    #4
    Baby01032012
    Registered Users Posts: 1,622 ✭✭✭Baby01032012


    enola79 wrote: »
    Hi,
    The tenant in our apartment is there just over a year now. The lease she signed when she moved in was for a 1 year period. Things are going well, rarely hear from her and the rent comes in on direct debit every month.
    Do I need to approach her to get a new lease signed? Ideally I'd say nothing, if that's OK. I don't want to put ideas in her head about moving or anything :) If a new lease is not signed are there any possible future consequences?

    thanks

    Given the current rental market I doubt the tenant is looking to move and is probably thinking the same way, keeping the head down hoping that she won't be given notice/valid reason to leave.
    Only letting agents make money from lease renewals using the end of the fixed term lease as an excuse to offer to renegotiate a new fixed term and potentially an increased rent. However with the recent changes in legislation end of fixed term lease can not lead to a rent review as this can't happen until 2 years from date of last review. I think the standard 12 month fixed term will change to 24 months in line with rent review period and given that tenants are looking for greater security of tenure.


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