Hi all.
I'm the landlord of a small HMO type C4 property with 3 tenants. The property has been let for the past 7 months on a joint and several AST with each of them listed on the one contract.
Both parties wish to extend the contract for a further 12 months from July, but we'd like the agreement signed well in advance. I understand this is fairly usual, but I'm also planning on extending the property slightly to add a 4th bedroom, which I will then let to one of the 3 tenants friends. All parties have agreed to this verbally.
Am I correct in thinking I should provide the existing 3 with a contract extension, and if and when the 4th person wants to move in, I ask all 4 to sign a replacement tenancy agreement?
Some guidance would be much appreciated.
I'm the landlord of a small HMO type C4 property with 3 tenants. The property has been let for the past 7 months on a joint and several AST with each of them listed on the one contract.
Both parties wish to extend the contract for a further 12 months from July, but we'd like the agreement signed well in advance. I understand this is fairly usual, but I'm also planning on extending the property slightly to add a 4th bedroom, which I will then let to one of the 3 tenants friends. All parties have agreed to this verbally.
Am I correct in thinking I should provide the existing 3 with a contract extension, and if and when the 4th person wants to move in, I ask all 4 to sign a replacement tenancy agreement?
Some guidance would be much appreciated.