What happens at the end of a 12 month tenancy?

[Pynpryck]

Looking for some advice really. I live in a tiny flat with my partner. We moved in last June, on a 12 month tenancy. We both had to get guarantors as our income is low. This year, I have been finishing off my masters course. I am going to start proper work in July, but finish my course in May. So on paper, I have May-July unemployed. I won’t lay about, I will go and work in a shop or something to bring some money in.

My partner has just started a new (permanent) job which pays better than his old job. I don’t think it is enough to cover the full rent for both of us, but he shouldn’t need a guarantor.

The past year I have been spending all my savings to pay for living costs on this course. So I have very little in my bank account. Once I start work in July, I will earn a lot more, and be able to pay for the whole rent (on paper).

To get this flat we had to go through lots and lots of checks. They even looked through all our spending on bank statements.

We really don’t want to move as we have made this our little home together.

When you renew a tenancy or move onto a monthly one, will they ask for all our financial info again? Will I have to send bank statements etc?

No it just goes on to a periodic rolling tenancy - this should happen automatically without any paperwork or checks although letting agents may not be truthful about this (ours tried to get us to start a whole new fixed term agreement as they'd have made more money from that but I quoted the Shelter website at them and they shut up!).

https://england.shelter.org.uk/housingadvice/privateerenting/optionswhennyourfixeddtermtenancyyends

It will either go onto a periodic as above or the landlord might ask you to sign another fixed term but as long as you've been paying the rent ok they are unlikely to ask for anything other than a signature.

No the credit checks don't happen again if you continue renting the same property from the same landlord. Approx 2-3 months before the fixed term ends, you will be contacted to ask if you wish to renew the tenancy for another year and you will be informed what the new rent will be.
If this doesn't happen the tenancy becomes a rolling monthly one as states above.
The credit checks would only happen again if you wished to rent a new property.

No, if you sign a new contract or go onto a rolling tendency they won't recheck. If you've been paying rent on time you'll be fine.

It should be a rolling tenancy unless the LL wants to terminate the agreement. Given that your financial situation has changed, could you still actually afford the flat with the CoL on the rise too?

The agreement should roll on as a “periodic” agreement.
I didn’t even bother to tell me tenants this was applicable. I just let it roll on! No further checks done because they pay on time in full & are good tenants.
Coming up to 5 years now.
If they want to move on they just give me a months notice. If I want them out, I just give them 2 months.
Simple. Don’t worry.

My agency asked if I wanted another fixed 12 months or if I wanted to move to a rolling monthly contract. I moved to the rolling contract because I knew I wouldn't be there for another year. I had to provide my reasons for wanting the rolling contract, but they didn't ask to see finances. However, I didn't have to provide guarantors for my contract. Don't know if that makes a difference.