Help to renew an AST please

by Readers Question

10 months ago

Help to renew an AST please

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Help to renew an AST please

My property Ltd co manages a house as a managing agent for the landlord owner. The first 12 month AST is coming to an end next month and with the landlord’s agreement and the tenants’ agreement, I will be renewing the AST for another 12 months, by reissuing the AST with new dates, and nothing else will change.

I have checked with “mydeposits” and they say I don’t have to do anything about the custodial deposit they hold as the AST is being renewed at the same rent, etc. All good.

Do I need to reissue the Prescribed Information again if nothing will change in the new AST?

MyDeposits say the PI doesn’t have to be reissued if nothing has changed for just a new AST being signed. However this isn’t what I have read in other articles here on this website.

All the usual things like gas safety certificate, etc are all in place. The EPC I’ve read is valid for 10 years (done last Oct) so a new one isn’t required.

There’s not so much information about renewing AST’s as these mostly seem to rollover into a periodic tenancy once the initial AST period is up.

Is there anything else I need to do to make sure it’s all legal as per the original AST in order to reissue the new AST?

Some advice on this would be appreciated.

Ania



Comments

Neil Patterson

10 months ago

Hi Ania

From Paul Shamplina's article on the Deregulation act >> https://www.property118.com/what-does-the-deregulation-act-2015-mean-for-landlords/

"Landlords who took a deposit on an assured shorthold tenancy (AST) after 6th April 2007 and correctly protected and served the Prescribed Information to their tenant do not need to reissue the Prescribed Information to the tenant on future renewals of the AST, or if the AST rolls into a statutory periodic tenancy.

This is so long as the tenancy details haven’t changed (i.e. landlord, tenant and property information) and the deposit remains in the same tenancy deposit protection scheme.

Prescribed Information can include details of a person representing the landlord. The act confirms that where an agent has protected the deposit on behalf of the landlord, the agent’s contact details may be provided in place of the landlord’s."

terry sullivan

10 months ago

just roll it over as periodic ast?

Martin Roberts

10 months ago

Managing agents tend not to like that idea as they often charge a 'Renewal' fee.

Chris Daniel

10 months ago

Reply to the comment left by Martin Roberts at 17/10/2017 - 12:07
Agents don't like Not renewing, because they charge Fee's - which has let to abolishment of charges to tenants They've shot themselves in the foot.
Its NOT in the Landlords best interest to renew a tenancy, as it restricts the service of Section 21 notice ( until end of that new fixed term )

Ania S

10 months ago

Reply to the comment left by Neil Patterson at 17/10/2017 - 10:25
Thank you Neil, exactly what I was looking for.

Ania S

10 months ago

Reply to the comment left by Martin Roberts at 17/10/2017 - 12:07
We're not charging the landlord a renewal fee but rather getting the AST checked by the lawyers who drew it up, to make sure it's compliant, and splitting the cost with the landlord instead. The landlord is my business partner's Mother, a pensioner, and we get 10% for managing her house on a single let AST.

Ania S

10 months ago

Reply to the comment left by Chris Daniel at 17/10/2017 - 14:51
Yes take your point Chris, however no fees to renew as per comment I made above. This is a long term let for probably 3 years (1st year coming up for renewal), to a single family so everyone is happy to have another 12 month AST rather than roll it over to a periodic.


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