Assigning a Joint Fixed Term AST?
My house is let to four people who jointly signed a 12 month fixed term AST last June. One of them now wishes to leave and will find a suitable replacement tenant – subject to references being checked by my agent.
The agent wants to tear up the existing contract and make a new 12 month fixed term AST. This seems a bad move to me as it delays the next rent review by 6 months and, if the tenancy is not renewed, means that I shall be looking for new tenants at the most difficult time of the year.
Is there any reason that the departing tenant cannot assign the existing tenancy to the incoming tenant?
The Agreement says that it cannot be assigned without my permission, so that’s not a problem.
Many thanks
Chris
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Member Since August 2013 - Comments: 161
3:43 PM, 23rd March 2017, About 9 years ago
Ah right I see, so indirectly it looks like you’ve answered my question, which only has 2 parties: A and B. So if A assigns her tenancy to A and B, then you think that’s ok?
Member Since July 2013 - Comments: 1996 - Articles: 21
3:55 PM, 23rd March 2017, About 9 years ago
Yes, so in your example the current tenant needs to assign the lease to herself and her boyfriend. I recommend you draw up the deed of assignment. Make sure there are no arrears of rent at the date of assignment.
Member Since August 2013 - Comments: 161
11:45 AM, 24th March 2017, About 9 years ago
Thanks Ian.