LETTING & ESTATE AGENT

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.