1-month rolling contract and then a 1-year contract?

Landlord Discussion
1

Hi - I have a bit of an awkward situation with the potential tenants. They are in the middle of selling th house with an unclear but hopefully happening in the next few days exchange date.

They don’t want to commit until an exchange rate on the property they are selling is settled, but they are aware that we can’t hold the property for them forever. They are suggesting having a 1-month contract from the middle of Feb (the house will be empty from next week) and then signing a 1-year contract once there is confirmation that the exchange will happen.

For context, we’re talking about a £4.5k house in London catering to a rather wealthy type of people, so the marketplace is niche and opportunities for non-HMO are not that many.

I feel like I’m ok with this approach. Is this something I can create through open rent?

2

Yes. Just set it as a 1m term. At the end of the one month, the contract will roll into periodic. The tenant will be the only one that can give notice to terminate within six months.

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