After the first year of the tenancy, I agreed with my tenants on a new rent amount, which they accepted. However, they received an amendment letter from Openrent and are now requesting a new contract despite no changes to the previous one apart from the rent amount. I need clarification about why they insist on a new contract since they have not provided any reason. Could someone please explain the difference between the existing monthly rolling contract and a new one? And what should I do in this situation?
Thanks in advance!
I would stick to the rolling periodic tenancy. You dont need to renew the tenancy to increase the rent. It can either be increased informally by agreement or using a formal s13 notice.
I did, and the tenants have accepted the rent increase. Also, I have received the updated rent last month. However, now they want a new contract despite no changes. Hence, I am wondering if a new contract should be made or refuse their request as it is rolling periodically?
As I said, Id refuse and stick with the rolling tenancy. A new contract is not in your interest and probably not in theirs.
Thanks David for your reply.