The end of the academic year, can mean some landlords find their student tenants are wanting to opt out of fixed term tenancies.
Here’s a quick rundown of the rules:
- Fixed term tenancies can be changed only if the landlord and all the tenants (everyone named on the tenancy agreement) agree. So if either party wants to end the fixed-term early, they can approach the others to see if they’ll agree.
- Any agreement must be in writing, clearly stating what’s been agreed to, and each party should keep a copy.
- Landlords may charge a fee for ending the fixed-term early. These fees should only be their actual and reasonable costs, such as the cost of advertising for new tenants.
- Tenants can request subletting or assigning the tenancy to someone else, if there is a clause allowing these options in the original tenancy agreement. Subletting doesn’t release the tenant from their obligations under their tenancy agreement.
- If you do allow the tenancy to be sublet we recommend your property manager, be involved in the approval of new tenants.
- If agreement can’t be reached, either party can apply to the Tenancy Tribunal for a ruling.