There have been many ways of responding to the Covid-19 outbreak and its related consequences by both sides of the rental process (landlords/ladies and tenants). Amongst these responses are the following: reduced rent, rent repayment plan, contract shift, early end of tenancy agreement, etc.
As some landlords/ladies and tenants continue to experience difficulties in their rental agreements and relationships despite the reopening of the housing market, there could be a need to look at some of these responses in terms of their effectiveness and problems-solving feature. One of these responses is contract change which will be the focus of our e-work this week.
Private Rental Contract changes
Usually, a tenancy agreement cannot be changed unless both parties agree to the changes. If both parties agree, the change should be recorded in writing either by drawing up a new tenancy agreement or by amending the existing agreement.
In difficult circumstances like of Covid-19, contract change can be used if the two parties want to continue the tenancy under new terms. One of the contract changes is a rolling tenancy.
A rolling tenancy is a statutory periodic tenancy that rolls each month, according to the rent period. So, if a tenancy is paid monthly it will roll from month to month.
Like in any tenancy, there are pros and cons regarding a rolling tenancy. One of the problems of a month-to-month rental contract is the lack of security between the two contractual parties in terms of the length of stay in the property.
This week, we are e-working with landlords/ladies and tenants to explore the practicals in terms of contract change or shift to enable the two parties to cope with the Covid-19 pressure.
What this week’s e-work will deal with
We will e-work on the following:
√ Needs assessment of contract change or change of tenancy terms and conditions
√ Determinants or parameters that preside over contract change
√ Contract change initiators (whether it is a tenant or landlord/lady who initiates) and implications for the initiator
√ Proceedings or process to change contract
√ Risks involved in contract change or amendment
√ Implementation of a changed or amended contract
Etc.
Additionally, we will be sharing the available resources (online and print) related to the topic of private rental contract change.
What this week’s e-work expects to achieve
One could hope that at the end of this week’s process, landlords/ladies and tenants will be…
√ Better aware of the advantages and disadvantages of contract change
√ Choosing the formula of contract change that is the most appropriate to command a less conflicting relationship
√ Avoiding further rental agreement pressure at this difficult time of the pandemic
√ Preserving the rental interests of each party
Need to e-discuss change of contract, why not e-work with Home Relief.
If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.
