Lease Renewals
Often we hear complaints from landlords that lease renewals are never followed up. We have processes in place to ensure that at least three months prior to the lease expiring we make contact with the tenant to discuss what their intentions are.
We do this at the nine month mark as it allows us time to review the rent and discuss our recommendation with you.
There is no allowance in the Residential Tenancies Act that gives us the power to force the tenant to sign a further fixed term lease. If a tenant chooses not to sign a further fixed term lease, the terms and conditions of the original lease apply however they are no longer locked into a specific time frame. This is called a periodic or month-by-month tenancy.
The tenant is still required, by law, to provide you with 28 days notice should they wish to vacate.