The end of the academic year, can mean some landlords find their student tenants are wanting to opt out of fixed term tenancies.
Here’s a quick rundown of the rules:
Fixed term tenancies can be changed only if the landlord and all the tenants (everyone named on the tenancy agreement) agree. So if either party wants to end the fixed-term early, they can approach the others to see if they’ll agree.
Any agreement must be in writing, clearly stating what’s been agreed to, and each party should keep a copy.
Landlords may charge a fee for ending the fixed-term early. These fees should only be their actual and reasonable costs, such as the cost of advertising for new tenants.
Tenants can request subletting or assigning the tenancy to someone else, if there is a clause allowing these options in the original tenancy agreement. Subletting doesn’t release the tenant from their obligations under their tenancy agreement.
If you do allow the tenancy to be sublet we recommend your property manager, be involved in the approval of new tenants.
If agreement can’t be reached, either party can apply to the Tenancy Tribunal for a ruling.