I am a landlord using standard openrent contract. We signed the contract with a 12 months break clause , 24 months fixed term no more extra clauses.
That was 10 months ago so i am thinking to suggest tenants to increase the rent in line with inflation.
Anybody knows if i can increase the rent during the AST? As far as i am aware there is no rent review clause in standard open rent contracts. Why is that?
Otherwise I could execute the break clause but i think that is too extreme.
Any suggestions much appreciated.
You can do it by negotiation with the tenant, but you have no option to just impose it. Why on earth did you do a 2 year tenancy? 6 month maximum for initial term.
I will try to negotiate with them. But ultimately if tenants do not agree the rent increase i can execute the break clause right?
That is equivalent i think.
I used an AST of 24 months i guess as lack of experience from my side on renting.
A fixed term is just that. The tenants have a right to expect no rent rises during the fixed term, that is the definition of one.
Next time, do what most land lords do and have a 6 both fixed term then rollover to monthly