Shorthold Rental Contract review
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£60/hr(approx. $75/hr)
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Description
Experience Level: Expert
Hi there,
My partner and I are about to sign an assured shorthold tenancy agreement, but did not sign yet. We were given the option to chose for a fixed 1 year term or a fixed 3 year term. Both contracts have a 6+2 break clause. However, it includes a 1 year responsibility of finding a replacement if the tenancy is ended early. Furthermore the contract includes a yearly rent increase clause.
We're not sure how long we want to stay in London, but the aim is 2 year. We know we got a 20% discount on the rent (due to corona market conditions) so we'd like to chose the best contract and understand our liabilities and see if we have any legal ground to challenge the contract. Therefore we'd like a short review of the agreement and answers to the following basic questions:
For both cases:
- How much we potentially save: What is the legally allowed increase in rent? What happens if we would contest this increase?
- How much we potentially lose: What is the likely obligation in case we would cancel the rent after the planned 2 years?
- Which option is recommended? Why does the landlord not want to offer us a 2 year contract?
Best regards
D&S
My partner and I are about to sign an assured shorthold tenancy agreement, but did not sign yet. We were given the option to chose for a fixed 1 year term or a fixed 3 year term. Both contracts have a 6+2 break clause. However, it includes a 1 year responsibility of finding a replacement if the tenancy is ended early. Furthermore the contract includes a yearly rent increase clause.
We're not sure how long we want to stay in London, but the aim is 2 year. We know we got a 20% discount on the rent (due to corona market conditions) so we'd like to chose the best contract and understand our liabilities and see if we have any legal ground to challenge the contract. Therefore we'd like a short review of the agreement and answers to the following basic questions:
For both cases:
- How much we potentially save: What is the legally allowed increase in rent? What happens if we would contest this increase?
- How much we potentially lose: What is the likely obligation in case we would cancel the rent after the planned 2 years?
- Which option is recommended? Why does the landlord not want to offer us a 2 year contract?
Best regards
D&S
Darya Y.
100% (2)Projects Completed
3
Freelancers worked with
3
Projects awarded
100%
Last project
11 Nov 2020
United Kingdom
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