OpenRent Community

Contract addendum for rent reduction


#1

Hi, does anyone know how to change or add an addendum to an existing AST agreement (4 months into a 12 month term) so that I can reduce the rent? The reduction is agreed between myself and the tenants due to a change in their financial circumstances.

I have emailed OpenRent but their first reply has not answered my question. I have tried again but in the meantime thought I would try the community.

Please note I do not want to renew the agreement and I am not in the last 2 months of a contract, I also do not want to take any action that extends the current contract. I just want to formally reduce the rent.

Thanks
Helen


#2

Hi Helen,

I can see one of the team have now responded to your email with guidance on reducing rent.

For those wondering, a renewal isn’t necessary in order to reduce rent.

If you’re looking to increase the rent, this can be agreed by email with the tenants rather than signing a renewal or new AST. Once the tenants agree and pay the first instalment of the increased amount, that becomes the new rental amount. The rest of the AST remains in force as before.

We have more information on our Help Centre here:

George


#3

Thanks. Yes I have received an email reply but all the guidance relates to the end of a fixed term or when you have rolled over to a periodic tenancy.

I am 4 months into a 12 month fixed term AST. In this situation can I still agree a reduced rent via email?

Thanks
Helen


#4

Hi Helen,

Yep, you sure can.

George