Asked by Mr. Gavyn Holker
We have an existing lease which expires in October 2014. There is a clause in the contract which provides the tenant a 1 year option to renew the contract in the same terms and conditions at market rate.
We have renegotiated the rent and agreed to an increase, and exchanged text messages with the owner who has confirmed the renewal for 1 year at the new rent amount.
The owner now wishes to sell the apartment, and stated that as we have not signed a new lease agreement that we have to vacate by the lease expiry date in October.
We believe that 2 things;
• As we are exercising a tenants right in the existing lease, with the terms of that lease continuing, there is no requirement to sign a new lease, just to agree an new rent amount at market rate (which we have done)
• The exchange of the texts with the landlord satisfies the requirements of contract in any event.
Are we correct in our belief?
If we are made to vacate early, what damages can we claim from the owner?
We have renegotiated the rent and agreed to an increase, and exchanged text messages with the owner who has confirmed the renewal for 1 year at the new rent amount.
The owner now wishes to sell the apartment, and stated that as we have not signed a new lease agreement that we have to vacate by the lease expiry date in October.
We believe that 2 things;
• As we are exercising a tenants right in the existing lease, with the terms of that lease continuing, there is no requirement to sign a new lease, just to agree an new rent amount at market rate (which we have done)
• The exchange of the texts with the landlord satisfies the requirements of contract in any event.
Are we correct in our belief?
If we are made to vacate early, what damages can we claim from the owner?
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