Rent increase – your thoughts on this idea pleaseMake Text Bigger
I normally only increase the rent when I have tenants move out of the property and new tenants move in. However, over the last few years I have noticed tenants remaining longer and longer.
I have a tenant that is now running behind with the rent and the rent is quite low for the style of house. Because the rent is always behind this creates more work with collecting the rent. On the good side they keep the house and garden in good condition.
I was wondering what is the notice period for increasing the rent and what if the tenant does not pay the increase but keeps paying the old rent. Do you have to reissue the DPS paperwork and who has to pay for this.
I was considering putting the rent up say £50 more than I require and offer a £50 discount if the rent is paid on time. Do you think this would help. A little bit like the discount you get with paying the gas and electric on time.
Any suggestions would be handy.
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