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3 year tennancy agreement

(8 Posts)
purplemurple1 Fri 28-Nov-14 05:15:02

My tennants would like to have 3yr agreement, so I'm wondering what would be fair terms. Can it be as simple as extending the notice periods, would 3 months from me or them be fair/normal?

Its through a letting agent so I already have a deposit and can arrange yearly/6 monthly inspections.

purplemurple1 Fri 28-Nov-14 05:26:30

Oh and should there be anything in it about the amount of rent - are rents likley to change that much in 3 yrs that they could be paying to much / or me recieving to liitle, compared to market norms?

specialsubject Fri 28-Nov-14 17:49:56

there is no 'norm' unless you have a crystal ball. Fair terms are whatever you agree between you. Assuming they are good tenants and you plan to continue renting the place out,you could give them the security they want by saying it is a fixed term on your side, with x months notice on theirs. This doesn't stop you evicting them if they breach the tenancy.

you could go on real inflation (over 3%), government figures (1.5%) or whatever your actual costs will be.

the person I know with a long tenancy agreement started with a rent increase from previously but then it is fixed - same way that energy fixes work. Might be one to offer?

devinlynn9621 Mon 01-Dec-14 23:09:29

Message deleted by MNHQ. Here's a link to our Talk Guidelines.

cjm10979 Wed 03-Dec-14 21:29:10

Are these new tenants or existing ones? I always start new tenants on 6 month tenancies to see whether they actually have any problems paying the rent. If they pay the rent on time and in full during that time I will offer 1 year tenancies after that.
If a tenant on a three year tenancy doesn't pay the rent from the 2nd month, you risk being involved in prolonged legal battles.

purplemurple1 Sat 06-Dec-14 21:18:38

They are existing tenants, never had any issues so farpaying rent.

Gfplux Sun 28-Dec-14 19:54:42

Having a three year agreement is very comforting for you and good business if you know these tennents and have not had problems. Frankly if peace of mind is important then do it but perhaps with very modest rent increases built in if you can get them to agree.

KierkegaardGroupie Sat 17-Jan-15 18:28:14

We maintain rent if someone agrees to a three year tenancy....that is their reward for making our lives easier. We are tenants and our landlord does the same for us...three stays the same.good tenants worth it.

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