A rolling tenancy agreement is a month-to-month contract between a landlord and a tenant. This type of contract allows for a greater degree of flexibility for both parties, as it does not require either side to enter into a long-term agreement. This means that when the specified date of your tenancy arrives, it will automatically roll over for another fixed period of time (usually one month).
Rolling tenancy agreements are becoming more and more common in the housing market, as they offer greater flexibility to both landlords and tenants. You won’t need to sign a new contract or pay any fees every time your agreement rolls over. There will be no break in your tenancy at all.
A rolling tenancy can be an ideal solution if you need a little more flexibility than a fixed-term agreement offers. It can also be useful if you’re not sure how long you’ll need to stay in your property for, or if you’re simply not ready to commit to a fixed-time agreement yet.
However, you must the terms of the contract carfully before signing up to a rolling tenancy agreement, as there may be provisions that limit how long it can continue for. For example, it will contain terms that allow the agreement to be cancelled by either party after a certain amount of time has passed (often six months).
However, If you are looking for a rolling tenancy agreement, there are a few things to consider.
For one, you will have to find a landlord who is open to the idea of such an agreement. Some landlords may be more open to it than others, and some may consider it a non-starter. The best way to get an idea for how your landlord feels about the idea is to ask!
Next, you need to decide if you want a rolling monthly agreement or if you want it with a longer period of time attached. Remember, a rolling monthly agreement means that once your fixed-term contract ends, the tenancy automatically rolls over into another fixed term. This happens each month until either you or your landlord gives one month’s notice that they’d like the contract to end. The tenancy then ends on the last day of the fixed term period.
While this sounds relatively simple, there are still some pitfalls to watch out for. For example, if your landlord wants to increase your rent during one of these rollover periods, they could do so without giving you much notice (or even any notice at all!), be carefull.
If you need further legal assistance to draft your agreement, please email us