This question is from Samara (paraphrased to suit this format):
My fixed-term tenancy is about to end next month. The landlord asked me if I want to extend or renew the tenancy agreement. What are the differences between the two?
An extension kicks out the expiry of the agreement to a future date whereas a renewal is a new contract binding you and the landlord into a new fixed-term tenancy agreement. Some practical matters for both parties to consider:
|NOTICE||Written notice to the landlord at least 28 days before expiry (assuming agreement contains a right to extend and absent a mutual agreement)||Written notice to the landlord at least 28 days before expiry (assuming agreement contains a right to renew and absent a mutual agreement)||N/A|
|TERM||=/≠ original agreement||= original agreement||=/≠ original agreement|
|DOCUMENTATION||Record (in writing) and sign the extension either as an agreement or extend or variation to the original agreement||Record (in writing) and sign the renewal either as an agreement to renew or a tenancy agreement||Sign a new tenancy agreement|
|RENT INCREASE||Only if there is a rent increase provision in the agreement and s24 rules are followed otherwise no rent increase||Only if there is a rent increase provision in the agreement and s24 rules are followed otherwise no rent increase||The landlord can set new/higher rent|
|HHS ENTITLEMENTS||If the agreement predates 1 July 2021 then the property does not need to comply with the HHS until 2024 (assuming no new agreement is entered into between now and then)||Property has to comply with HHS within 90 days of renewal||Property has to comply with HHS within 90 days of the new tenancy|