1 1 lease

Hi,

Our lease agreement is something I've heard termed a 1 + 1 i.e. after one year we can end the lease or continue for another year. Can someone explain to me the finer details of such an arrangement (I assume they are common?). If we wish to end the lease at the 1 year mark, do we just give 2 months notice of this with no penalty? Or are we still liable to pay rent if a tenant isn't found?

With the notice period, is it 2 months prior to the 1 year mark, or do we give notice at the 1 year mark and move out 2 months later?

Are there any other fees involved?

Thanks!

It really depends up to what the landlord will agree.


You could leave tomorrow and give no notice, if your landlord think he has someone who'll move in and get more rent for the place.


I was under the impression you cuold give notice at month 10, and not have to pay after the end of the 12th month, or otherwise the lease would be called "14 mth minimum lease" rather than "1+1".


When you sign a lease, you can put anything into it you want, such as break clauses and capping rent increase in the second term of the 1+1 - what you agree to. But if you are not legally trained, although it looks simple, don't try it yourself as there are particular meaings behind term in contracts- complex sort of stuff although your agent may not agree.

Most Tenancy Agreements stipulate the two months' notice can be given at the END of the first year, i.e. it's a minimum of 14 months. It's called "1 + 1" but that's a bit of a misnomer. RachRobin, you need to read carefully through your Tenancy Agreement to see exactly what the terms are. If it says that you can give two months' notice after one year, then that's what it means - and that also means that you can leave after 14 months and don't have to pay any more rent regardless of whether the landlord has found a new tenant or not. If the terms of your TA aren't clear and you'd like some advice, drop me a line at linda@queensproperty.com