There are two different types of agreements that a tenant and landlord can agree to.
Firstly, there is a fixed-term tenancy that has a start and an end date and secondly, a periodic/ continuing agreement that has a start date, but no end date.
It is often industry best practice to negotiate a fixed-term tenancy to provide all parties with 'peace of mind' for a set tenancy term. However, if there is an uncertainty in circumstances, such as, the landlord considering or wanting to sell the property or move back in or if the tenant is unsure of future job opportunity relocations or they are looking to purchase a property then a continuing/periodic agreement may provide the flexibility needed by the party/s.
If you are considering a continuing/periodic agreement (not renewing the tenancy agreement once it expires) it is important to contact your Landlord Insurance provider to ensure that your policy is not affected.
For more information on the types of tenancy agreements and the legislation governing each type, please click on the button below.