Hi My tenants have been in my property since 2016 and I’ve never increased the rent as it has always covered the bills and added to a repairs fund. my purpose has been to keep the property for a retirement fund. However with the cost of living I need to start earning an income and to be able to cover the cost of the mortgage and management fees.
Is there a letter template anywhere or do I need to use a specific form from the government website.
I used form 4 which is on government website. I did after 3 years and it is better to speak first as receiving a form without pre knowledge might not be received well. Even then my tenancy only survived 8 months before things are getting broken by the day! I am not saying yours will but that is my experience. I will from now on increase little amounts rather than giving them the opportunity to stay with a low rent. Some seems to ignore that fact they enjoyed no rise for some time and thinking that you are a monster LL bringing the rent closer to market value! https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/471846/Form_4_-_Eng.docx
Does your tenancy agreement have a clause about rent increases? If so then you must follow it. If the tenancy is now periodic you can use a s13 notice form 4 as above.
Perfect, Thanks. Yes I’ve sent them an email under the mutual agreement guidance and then I’ll send them a section 13 form 4
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