Contractual periodic tenancy, most commonly referred to as a rolling tenancy, is a type of tenancy agreement that allows a tenant to remain in a rented property for an indefinite period of time. Unlike fixed term tenancies, which have a specific end date, contractual periodic tenancies continue on a rolling basis until either the landlord or the tenant gives notice to end the tenancy.
This type of tenancy agreement is commonly used in the rental market, as it provides a flexible option for both landlords and tenants. A contractual periodic tenancy can be entered into at the start of a tenancy, or it can be created from the end of a fixed term tenancy if the tenant continues to occupy the property.
Under a contractual periodic tenancy agreement, the landlord must give the tenant notice if they wish to end the tenancy. The notice period is typically one rental period, which is usually a month. Similarly, the tenant must give notice if they wish to end the tenancy, and the notice period is also typically one rental period.
If notice is given by either party, the tenancy will come to an end on the last day of the rental period. If the tenant does not vacate the property by this date, the landlord can take legal action to regain possession of the property.
It is important to note that under a contractual periodic tenancy agreement, the rent can be increased by the landlord. However, the landlord must give the tenant notice of any proposed rent increase and the amount of the increase. The notice period for a rent increase can vary, but it is usually at least one rental period.
A contractual periodic tenancy agreement can provide both landlords and tenants with flexibility, as it allows for a rolling tenancy with notice given by either party. However, it is important for tenants to understand their rights and responsibilities under this type of agreement, including the notice periods for ending the tenancy and rent increases.
In conclusion, contractual periodic tenancy is an arrangement that allows tenants to stay in a rental property for an indefinite period, provided that they give notice to end the tenancy or pay rent in a timely fashion. Landlords should be aware of their rights and obligations under these agreements, and take steps to ensure that their tenants understand their responsibilities as well. By doing so, both landlords and tenants can enjoy a positive and mutually beneficial rental experience.