Hi guys and gals…does anyone know about periodic tenancies in WA? What term would be suggested?
usually Property Managers are not keen to sign a Periodic Lease, why is that? They will go for either 6 months or 12 months.
Any advice would be greatly appreciated…the residential tenancies act provides a degree of protection to tenants which cannot be voided by landlords wanting things their way.
A periodical tenancy is created once the initial lease term has expired ie after 6 or 12 months, the tenant is able to give a couple of weeks notice to vacate and you need to give 2 months.
Generally, a tenant requires a minimum lease term exemptions exist for boarders, boarding houses & caravan parks. .
I have three rentals properties (that I manage myself) and at various stages all have been periodical. Depends whether you are happy as a landlord to have the expired term lease rolling over monthly or not and ditto for the tenant. Two (fantastic) tenants both prefer to enter into new lease agreements at the expiration which is fine. One advantage of the new lease is if you want to change/add any lease terms. My last one had a rent increase and I also put in another clause that it would rise after 6 months so didn't have to worry about giving notice at the time.
Agents will also charge you more fees to do new leases so not in their interest to have one rolling over!
If they are good tenants periodicals are fine but if not having a lease in place with an end date protects you somewhat.
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