Does anyone know if open rent contacts have an inspection clause and break clause included. I’m wondering whether to pay for their contract or use another service.
Also for a 12 month tennancy, when would you ask the tennant to confirm if they are renewing at 10 months?
I would do 6 months, not 12, and would not renew. Less admin and cost and more flexibility to let it go periodic.
If they don’t serve the required notice at 11 months, I would make a polite enquiry as to their intentions.
I use 12 month contracts to spread the costs of finding & installing a new tenant, now we have to pay all the fees. If someone wants a 6 month contract I increase their rent to apportion the extra fee costs.
I would also let the contract run into a periodic tenancy, after the initial fixed term.
I went from a standard 6 months before COVID to 12 months when the eviction moratorium came in. My theory was that if I could not evict then the shorter contract didn’t give me any more flexibility. As already mentioned it also spreads your void period and costs of finding a new tenant over a longer period.
If we lose the S21 process (Which I think is an odds on bet) then I might well change to Two year contracts for the same reasons.