How long should I wait for a response from the Tenant once a 5% increase in rent has been requested? Equally I sent this in a WhatsApp, it’s been read 2 days ago but no reply - it’s also a company that’s renting from me, my costs have increased, the AST suggests an increase once a year (year ends this week) but must give 2 months notice, so I’ve suggested April first increase. Also the contract suggests in line with API - is this acceptable for me to ask 5%?
5% is perfectly acceptable. I would assume they are accepting it if they don’t respond & once they pay it, it has been accepted.
I would issue rent rises on a s13 notice in future as this is more formal notice.
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You need to go with what the contract says. They normally say what will happen rather than suggest it.
API isnt a measure as far as I’m aware. CpI is official measure which is 4.0% and RPI is 4.9% so isnt really a big deal. Tenants can agree to your 5% if they want to but they dont have to if vontract states something else.
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As above, the contract with the company will tell you if, how and when you can raise the rent.
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My error - CPI ;/ Thanks for heads up. Contract doesn’t state anything else - I just wanted to check my position on this.
If the contract doesnt say anything then Im not sure you have a right to impose a rent increase.
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