LETTING & ESTATE AGENT

Our doors may be closed, but we’re still here for you. In line with government advice on the outbreak of Coronavirus (COVID-19), all our Martin & Co branches will be temporarily closed until further notice. The health and safety of our staff and customers is, of course, our number one priority. But while we might not be able to see you, we are still here if you need us. The Martin & Co teams are all working remotely, ensuring we can provide continuous support for all our customers. Please email your nearest branch directly through the website and, most importantly, stay safe and healthy during these difficult times

What are periodics?

What are periodics?
Most tenancies today, are made on an assured shorthold tenancy (AST) basis for a fixed term, usually 6 or 12 months. Under the housing act section 5, the tenancy then reverts on a month to month basis with the tenant required to give a months' notice and the landlord must give two months' notice. This roll-on contract is called a periodic and there are certain downfalls to this, the main one is that the terms of the original tenancy agreement cannot be changed or varied in any way.

The other issues surrounding a periodic is that many tenants fail to respect the notice period and just leave without any form of notice thereby leaving a void period for the landlord and the agent until a new tenant can be found and referenced.

The other major downfall is that you cannot increase the rent. We strongly advise all our landlords to allow us to complete a rental valuation each year and to sign a new AST with an uplift in the rent. This also gives us the opportunity to reference the tenant again to ensure that they meet our renting criteria and you can feel assured that your rents are going to be paid.