Have you ever wondered what happens if the tenant overstays the tenancy end date?Imagine this scenario where you’re the landlord, and you’ve leased your property to a tenant where the terms were mutually agreed upon, and the agreement was signed and in writing.In particular, the commencement date of the tenancy agreement will be 1 Jan 2019, for the period of three years unless agreed otherwise.It’s now 2 Jan 2022, a little over three years, and your tenant hasn’t moved out – and in fact, he refuses to! You’re astonished and outraged at how audacious he is, and you’re wondering: What can I do?In this situation, once the duration is up, it conclusively marks the end of the stay for the tenant (unless there were further negotiations to extend the lease).If the tenants overstay beyond the tenancy end date, the landlord has a right to claim double rent from them.
Extending Your Stay With The ‘Option To Renew’ Clause
However, if you’re the tenant, and you love the place so much that you want to extend your stay, you can exercise the ‘Option To Renew’ clause to extend the lease for another term.However, this should be accompanied by notifying the landlord within the time period stipulated in the clause. Ultimately, it is within the discretion of the landlord whether to grant you the option to renew.If granted, the landlord will prepare a contract with the same clauses as the current contract, unless clauses are re-negotiated.Usually, if you’re a responsible tenant, the landlord will be more than willing to extend the lease for you since it’s not that easy to find good tenants who take care of their houses.But, that said, it might not apply for profit-driven landlords who prioritise rental yield over everything else. Penrose at sims drive