OpenRent Community

Increasing rent when tenancy has goner periodical


#1

I’ve a rental property that has been rented at same monthly amount for 4 years. I’m happy with tenant but feel an increase is now justified. Property as been on periodical basis for sometime and I’m happy to continue on this basis. Can a new contract be drawn up on existing basis with increase provided tenant is in agreement. If so can this be done via Openrent as with the original contract? Any assistance appreciated.


#2

Hi Richard,

It sure can - here’s some further guidance on renewing the tenancy and amending the rental amount:

Kind Regards,
George