Hi when carrying out an increase in rent do I need to issue a new tenancy agreement? The tenant has agreed to an increase and said they will increase the standing order. They wish to stay on the rolling contract they have been on for a few years. Was thinking written evidence may be good for lenders etc.
You dont need a new tenancy to increase the rent and its better to leave it periodic. Once they start payjng your increase its binding. If they dont pay serve a s13 notice.
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Thanks for the info David. Do you see any advantage in using the openrent rent collection?
I only use Openrent for advertising so have no experience of their other offers. However, if you are not fully up on landlord law and best practice, its not advisable to opt for self management.
they are happy to pay on a rolling basis ? You are on a winner leave well alone
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I always do this when I increase the rent each year. It provides reassurance to the tenant that I will not increase the rent for 12 months and that I have no intention of trying to end the tenancy.
Make sure any increase is notified on Form 4 of Section 13 obtainabke on the government website. Also new rent should start on the rent due date and you have to give a months notice of the increase.
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