Property Mentor Investment Questions

The following question was recently submitted to our property experts by an individual looking for advice on how to deal with their property let. If you have got a question regarding your tenancy/property, contact us now via the link to the right.

Submit your own questions

Q: Increasing Rent On Property Let

How do I go about increasing the rent on my property let?

From Matthew Gibbs | Colchester | 21/06/2010 | Rent

A: Whether you are looking to increase your tenants rent due to inflation or simply to cope with fluctuating interest rates, as long as your tenant is at least halfway through their tenancy and their Assured Shorthold Tenancy Agreement doesn't contain a clause, you can safely increase their rent.

However, before you implement anything, you will need to bear the following in mind:

 - Is your tenants existing agreement coming to an end? If so, you will need to specify this increase in a new tenancy agreement. Now it is important to note that the shortest you can make an agreement is 6 months, so if you don't actually want to renew their tenancy, it is best not to implement this rent increase.

 - Have you given your tenant written warning of this increase? You must give your tenant due written notice of this increase so they can respond.

 - Is there a clause in their existing tenancy agreement forbidding you from increasing their rent? If you are not sure, sit down with a solicitor to check. If there is a clause, you will not be able to implement this change until their current contract expires.

As mentioned above, if you are not sure whether their tenancy agreement contains such clauses, sit down with a solicitor - before you enter into a new tenancy agreement - and review the terms. Should you find that it does contain such a clause, you can remove it.

Once you are happy with the structure of your agreement, you can utilise a Notice of Rent Increase Form to contact your tenant about this rent change.

More about the author

Image of Peter Franklin Peter Franklin, Property Mentor Delegate

I have always been interested in accumulating profits through the use of investments. Stocks... shares... with the right tools the potential is there. But after years of receiving bad advice and losing money, I decided it... Read more

To see a full list of our writers and find out more about them please visit the authors page.

Related Questions

Want to Learn More?

Whether you are new to property investment or are looking to expand your existing property portfolio, at Property Mentor we can help.

Our property experts have spent the last 20+ years formulating a proven investment system that has successfully helped over 2,000 delegates to create property portfolios of all shapes and sizes.

So no matter your prior property knowledge, why not let us at Property Mentor help you to become the property investor you know you can be and attend one of our FREE 2 hour taster sessions today? Simply enter your postcode into our unique postcode checker below and discover where your next closest property course is taking place.

Reference Code:
join our newsletter and
get latest update about
Property Deals...

Find your local course

To find one of our FREE property investment courses near you simply enter your postcode below.