When you first decide to rent with Manchester Life you will be free to choose a Tenancy Period of 1, 2 or 3 years.
Remember, if you sign for more than one year, that after the first year, you are free to give us two months’ notice during the fixed term, regardless of how long is left.
If you need a bigger or smaller home during your tenancy period, we will allow you to move if we have availability. If you move homes within Manchester Life, your existing Tenancy Agreement will be cancelled and you’ll sign a new one, ending on your original end date unless you want to extend this. Any new Tenancy Agreement issued has to be for a minimum period of seven months.
Approximately three months before your agreed Tenancy Period is due to end, we will write to you and send an email where we have your email address, setting out your options to take up a new Tenancy.
We will include the rent increases which would apply based on how long you choose to stay beyond the expiry of your existing fixed term agreement. This is a good time to chat to us about whether your home suits your needs, or whether you would like more or less space, or even to try one of our other buildings.
We ensure our rental prices are always competitive to the market, and we want to incentivise you to stay with us, so our pricing plan for new agreements will work as follows:
- Our promise is that residents who choose to stay with us will always pay less than the current market rate for the same home.
- If you sign a new 1 year fixed term Tenancy Agreement, your rent increase will be no more than 5% of the rent paid under your current Tenancy Agreement.
If your current rent is £1000 PCM your new rent would be £1050 PCM.
If you sign a new 2 or 3 year fixed term Tenancy Agreement, your rent increase will be capped at the published Retail Price Index (RPI) % on commencement and on each anniversary of the commencement of your tenancy agreement.
RPI in July 2019 was 2.8%, therefore if your current rent is £1000 PCM your new rent RPI in July 2019 was 2.8%, therefore if your current rent is £1000 PCM your new rent.
For added reassurance, the increase will be capped at 4% even if RPI is above that at any subsequent review date. Please remember that RPI fluctuates monthly, with a new rate published on or around the 18th of each month; we will always use the latest figure available to us.
If the RPI at the time of the increase anniversary was 4.8%, your rent increase would be capped at 4%, so if your current rent is £1000 PCM, your new rent would only be £1040 for the next 12 months.
If you’d like to stay with us but can’t commit to a further 12 months (our usual minimum Tenancy period) let our Leasing Team know so that we can try to help.
What happens if we don’t hear from you following our initial renewal notification letter?
If it gets to less than one month before the end of your Tenancy Period and you haven’t responded to our letters, calls or emails, and there is no new Tenancy Agreement in place, we will need to reconsider sending you a Section 21 notice as a last resort. This notice does not say you have done anything wrong; it is the process a landlord is required to use to formally give you two months’ notice to bring a Tenancy Agreement to an end.
If you then decide to stay with us and sign up for a new Tenancy Agreement, the rent increase in your renewal letter will still apply. When a new Tenancy Agreement is signed the Section 21 notice will no longer be valid, as the new agreement will supersede this.