April residential sales market wrap

21/05/2015

meet our professional leasing consultants

28/05/2015

fixed term and periodic tenancy agreements

27/05/2015

There are two types of tenancy agreements a tenant can enter into. A fixed term agreement and periodic (continuing) tenancy agreement.

A fixed term tenancy has a definite commencement date and expiry date.  A periodic (continuing) agreement commences from the expiry date of the fixed term, and has a no expiry date.

The preferred type of tenancy is a fixed term agreement where a tenant will enter into a 6 or 12 month agreement.

Prior to the tenancy agreement expiring you have an option of renewing the tenancy for a further term or the tenant can remain in the property on a periodic tenancy.

Under a periodic (continuing) tenancy the tenant is still bound by the terms and conditions of the original agreement but they have no fixed expiry date.

The notice periods for the tenant to end the tenancy vary for both types of tenancy agreements.

For advice on the different notice periods required, please phone our office.