Lease Renewal

starmc14

Hi,

I have been renting my current apartment since Feb 2013. I initially signed a one year fixed lease through a letting agency. Last year on renewal the agency contacted me view confirming no rent increase, however I did not sign renewal agreement.
Today the landlord has contacted me via email asking my intentions, if I am happy to stay on. She stated that she notes the lease has lapsed and we need to get this tightened up for both our sakes...

I am just wondering am I obliged to sign fixed term lease for year 3 as suggested or am I now technically on a part iv and can I remain on that without signing?

Thanks

Eldarion

You're not obligated to sign another lease true but honestly leases benefit both parties. If you intend to stay at least another 12 months then definitely sign a new lease.

You can remain in Part IV but you should have notified the landlord at least 1 month prior to the expiration of the last lease that you wished to do so. Don't be surprised if you're faced with a slight rent increase if you do wish to remain in part IV though as you're less certain in the eyes of the landlord.

starmc14

Eldarion wrote: »

You're not obligated to sign another lease true but honestly leases benefit both parties. If you intend to stay at least another 12 months then definitely sign a new lease.

You can remain in Part IV but you should have notified the landlord at least 1 month prior to the expiration of the last lease that you wished to do so. Don't be surprised if you're faced with a slight rent increase if you do wish to remain in part IV though as you're less certain in the eyes of the landlord.

We have decided to agree to another fixed term. We love the apartment and hopefully by agreeing we might keep any potential rent increase to a minimum

godtabh

starmc14 wrote: »

We have decided to agree to another fixed term. We love the apartment and hopefully by agreeing we might keep any potential rent increase to a minimum

Also gives you security