A Fixed Term Tenancy Agreement is an agreement that has a set or fixed expiry date and cannot be extended past that date. There are no continuation or carry over provisions on such agreements.
A Fixed Term Agreement occurs commonly when a property is on the market for sale or the owner intends to re-occupy the property at a specified date.
It is vital that all parties remain aware that notice is required to deliver vacant possession at the end of the fixed term.
Please be assured that we will act accordingly to ensure that the tenancy is ended on the specified date.
What happens when the fixed term of the tenancy agreement ends?
There is a common misconception regarding the expiration of a fixed term tenancy agreement that the renter can vacate without notice or the renter provider can gain possession on that date.
For a tenancy to be legally ended the tenancy is to be terminated in accordance with tenancy legislation.
In order for a tenancy to be terminated by either party the following needs to occur:
1) The agent/renter provider gives the renter notice.
2) The renter gives the agent notice.
3) The property is abandoned.
4) The Tribunal orders vacant possession.
Tenancy legislation clearly details the notice required by either party to end the tenancy depending on the reason, such as the end of a fixed term, periodic agreement, property sold or renter provider moving into the property.
If you require vacant possession it is important that you discuss this with us. Please do not assume that as the agreement has expired or is about to expire that you can get immediate possession of the property. Proper notice is to be served upon the renter to ensure that you can legally gain possession of the property with undue delay.