UK Family Law
UK Family Law Questions Answered by Verified Experts
Thanks for your question.
You will remain tied to the guarantee if it covers the holding over period until a new tenancy agreement is granted or you secure acknowledgement of release from the guarantee.
You should therefore either encourage the tenant to sign a new tenancy agreement, stating that maybe they shall consider handing in their notice and terminating the tenancy, or approach the landlord/letting agent about whether they would consider offering a lease and askin for their terms.
They may require a small sum of money to be released, you will have to then weigh up the cost/benefit.