'valid for only year only' - same as non renewable?
We have a tenancy contract which says on it 'the contract validity is only for one year'. Is this the same as saying the contract is non renewable? i.e. the landlord can charge us market rate from next year even though it would only be the first time we would have renewed? It is written in the landlord's additional clauses on the back of the contract.
I thought the contract had to say non renewable and so of course checked our contract for those specific words which were not there - however a friend has said to me that 'the contract validity is only for one year' means the same thing and if we want to renew (which we will do) then our landlord can put up the price. This worries me as the same apartments now seem to be renting for at least 20k more than we are paying and we have only been in for 6 months.
I will obviously wait and see what the landlord says when we have 3 months left on the agreement but to stop me worrying about the possibility of having to move this year does anyone know for sure whether it is OK or not?
Thanks
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