Agreement creating a New Company Tenancy on the Same Terms as an Expired Tenancy (with new Rent and Term)
This Agreement creating a New Company Tenancy on the Same Terms as an Expired Tenancy (with new Rent and Term) should be used where the Landlord and Tenant have agreed to enter into a new company let tenancy agreement which is on the same terms as the previous agreement except for the term and the rent.
When the fixed term of a tenancy has expired the Tenant is allowed to remain in occupation of the property and its tenancy becomes a “periodic” tenancy. The periodic tenancy can be terminated by either party with little notice (the minimum notice period is 4 weeks).
One option is for the parties to continue the periodic tenancy and agree a rent increase if necessary. The Rent Increase Memorandum can be used to achieve this. However, if the parties want the certainty of a new fixed term it is preferable to create a new tenancy. This very simple Agreement creates a tenancy by incorporating the terms of the previous agreement and specifying a new term and rent.
Optional phrases / clauses are enclosed in square brackets. These should be read carefully and selected so as to be compatible with one another. Unused options should be removed from the document.
This Agreement creating a New Company Tenancy on the Same Terms as an Expired Tenancy (with new Rent and Term) is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.
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