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Form 4 to increase rent for an Assured Shorthold Tenancy Agreement?

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Author Topic: Form 4 to increase rent for an Assured Shorthold Tenancy Agreement?  (Read 25 times)
Newbie
Posts: 2

I like property

« on: November 17, 2020, 05:54:53 PM »

I have had private tenants now for 8 years, never increased the rent and now find that the rental value has massively changed and I am undercharging them about 300 a month
I know I cant increase the rent on renewal by more than 5% but what notice do I need to give them? Is it 6mths to advise that if they want to renew again the rent will increase by 5% ?
Also do I need to use a Form 4 to advise them of this change this form seems to reference periodic lease and this is not?
They are current half way through a 12mth ASSURED SHORTHOLD TENANCY AGREEMENT with a  fixed end date not a periodic agreement?
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