In principle, if the tenant complies with the contractual conditions, his lease is protected for the agreed period. At the end of this period, the owner is entitled to a refund. At the end of the limited term of your guaranteed short-term rental agreement, your tenants have the right to remain in a continuous periodic contract until you or she terminates the tenancy. This periodic lease is established either by the contract itself or, if your contract is silent, by a legal periodic lease. There are a number of ways in which the law treats these two types of periodic tenancy differently. This manual explains these differences. TIP: It is recommended that you check the rental laws of your country for more information if you want to sign a long-term lease. There are other types of rentals, but since the majority of ASTs are, we are going to focus on them in this article. A lease with no end date (normally called a periodic lease or renewal automatic lease) is used when the lease is automatically renewed after a certain period of time (for example. B every month, six months or every year). In this type of lease agreement, landlords and tenants rent until a party gives notice that the lease is ending. A lease is a legal and binding contract between you and your tenants.
It clearly defines and without space for misinterpretations what is expected of the owner, the tenant and the duration of the contract. It is also set out in detail what one party can do if the other violates the terms of the agreement. .