What is a Periodic Agreement?

A periodic agreement is a type of rental contract that continues on an ongoing basis, typically from month to month, after the end of an initial fixed term agreement. This flexible arrangement allows both the Occupant and ShareSorted to continue the rental relationship without committing to another fixed term.

  

Key Features of a Periodic Agreement 

1. Ongoing Duration

Unlike fixed term agreements, periodic agreements do not have a specified end date. The tenancy continues until either the occupant or the landlord gives notice to terminate the agreement. 

  

2. Month-to-Month Basis

Most periodic agreements operate on a month-to-month basis, meaning the terms of the agreement renew monthly. 

  

3. Flexibility

Periodic agreements offer greater flexibility for both occupants and landlords. This can be particularly beneficial if you are unsure of your long-term plans or if you prefer not to be tied down by a long-term commitment. 

  

4. Notice Periods

Either party can terminate the agreement by providing notice. For ShareSorted properties, the minimum notice period required from the occupant is 4 weeks. Ensure to check your agreement for any specific requirements or variations. 

  

Benefits of a Periodic Agreement 

1. Flexibility

Periodic agreements provide the flexibility to move with less notice compared to fixed term agreements. This is ideal if you have uncertain future plans or prefer the ability to relocate more freely. 

  

2. Continued Occupancy

You can continue living in the property without the need to negotiate a new fixed term agreement, providing ongoing stability and convenience. 

  

3. Adaptability

Periodic agreements can easily adapt to changes in circumstances, whether it’s a change in employment, personal situations, or market conditions. 

  

Responsibilities Under a Periodic Agreement 

1. Compliance with Terms 

As an Occupant, you must comply with the terms outlined in the periodic agreement, including paying rent on time, maintaining the property, and adhering to any rules specified by ShareSorted. 

  

2. Providing Notice

If you wish to terminate the agreement, you need to provide the required notice period. For ShareSorted properties, a minimum of 4 weeks' notice is mandatory. 

  

3. Potential for Rent Adjustments

Since periodic agreements are more flexible, ShareSorted may adjust the rent with appropriate notice. Be aware of this possibility and review your agreement for details on how and when rent adjustments can occur. 

  

Important Considerations 

Understand the Terms: Make sure you understand all the terms and conditions of your periodic agreement, including notice periods and potential rent adjustments. 

Plan Ahead: If you plan to terminate the agreement, provide notice well in advance to avoid any last-minute complications or additional costs. 

Seek Clarification: If you have any questions or uncertainties about your periodic agreement, don’t hesitate to contact our support team for clarification. 

 

A periodic agreement offers a flexible and convenient rental arrangement that can adapt to your changing needs. If you have any questions or need further assistance, please contact our support team.

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