The default contract from Openrent only offers going periodic after the fixed term but we actually want another fixed term contract rather than going periodic due to our circumstances.
Can we simply give the tenants notice 2 months before the fixed term ends to renew a contract? If they refuse and want to go periodic but we don’t want it at the point, would it be enough reason to end the tenancy?
Also the tenants offered to pay rent 12 months advance since they wanted to get ahead of the competition and we are thinking to accept it. (they passed all reference checks)
In this case, can we simply accept it or is there anything we need to be aware of before accepting it in case the tenancy goes periodic or any other possible repercussion when renewing contract? (thinking 1 month rent to Openrent and the rest directly to us)
Yes, you could give the tenant notice 2 months before the end along with a new contract. However, periodic tenancies are generally better for the landlord and most experienced landlords only give 6 months fixed/initial terms followed by monthly periodic. S21 notices dont need a reason as they are the no fault eviction mechanism, (assuming that they are still available to use 12 months from now).
You can take 12 months rent in advance, but you need to make sure its clear in your contract that the tenancy period is still monthly and the payment represents 12x 1 months rent. Rent in advance is not a substitute for due diligence around affordability, creditworthiness and good references. It can still take many months to evict a non-paying tenant.