An open letter to Sadiq Khan and his plans for a rent freeze
3 years ago | 13 comments
Recommended approach for notifying a tenant about an upcoming rent increase?
10:29 AM, 9th May 2023, 3 years ago
12
Hello, What is the recommended approach for notifying a tenant about an upcoming rent increase after the fixed term of a tenancy agreement (AST provide by Openrent)? Considering that the agreement will continue as a monthly contractual periodic tenancy until terminated in accordance with the agreement.
Would it be appropriate to reach out to the tenant three months before the end of the fixed term to inquire about their intention to stay?
And then inform them about the common practice of reviewing and potentially increasing the rent at the end of the fixed term, while assuring them that the increase is reasonable and in line with market rates?
Thank you,
Neel
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Member Since September 2022 - Comments: 198
1:34 PM, 10th May 2023, About 3 years ago
Reply to the comment left by Jim Kirk at 10/05/2023 – 10:20
Assume you mean the tenants Jim and you absolutely correct. I had a feeling during view if that makes sense but thought I was being over sensitive. I released them early to be rid. Just wanted to warn Neel however well you do this it doesn’t always pan out how you think it will. You constantly ‘learning lessons’ with the PRS!
Member Since August 2021 - Comments: 307 - Articles: 1
10:31 AM, 14th May 2023, About 3 years ago
Answering the question, there are three main routes to rent increases:
– defined mechanism in the original contract, such as CPI or fixed %
– mutually agreed, ideally in writing and confirmed by the tenant
– statutory notice under S13 of HA 1988 using Form 4
The friendly team at iHowz would be happy to help you
https://ihowz.uk/