Tenancy Agreement Query - Non AST
I am managing a property for friends who live abroad. Local letting agents found the tenants and prepared the Tenancy Agreement. Because the rent exceeds £25,000 a year they did not use an Assured Shorthold Tenancy. My friends negotiated no renewal fee with the letting agent.
The letting agent has reminded my friends that the agreement (which was for 12 months) is shortly to expire. In the absence of a renewal fee they are not arranging any renewal and are refusing to act in any way.
My friends have asked me to deal with this. Can you advise what happens when this type of tenancy expires? Does it continue on a rolling periodic like an AST? (I can find no mention of this in the Agreement) Or is a whole new agreement needed? (In which case I can prepare one) If so, is there still a six month lock in (which there is in the original agreement), or is there not, given that it's a continuation of a letting rather than a new one.
I would be most grateful for your advice.
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