Rent increase for tenant in situ?

Rent increase for tenant in situ?

0:07 AM, 5th December 2024, About a month ago 13

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Hi, I’m about to complete on a property that comes with a tenant-in-situ who has a periodic tenancy with the existing owner.

His current rent is significantly under market rate and as part of my offer on the property, the current tenant agreed for the rent to be immediately increased to market rate.

Am I able to simply apply the new rental amount within the new tenancy agreement or do I need to issue a Section 13 rent increase and provide 2 months’ notice?

Thanks,

Russ


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Jim K

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20:04 PM, 5th December 2024, About a month ago

Reply to the comment left by Stuart Rothwell at 05/12/2024 - 12:06
However factual .
Due diligence et al....

Stuart Rothwell

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23:29 PM, 5th December 2024, About a month ago

Reply to the comment left by Jim K at 05/12/2024 - 20:04
I was under the impression (mistaken?) That forums like this are to facilitate us to help each other. Rather than criticise?

DPT

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13:54 PM, 6th December 2024, About a month ago

Reply to the comment left by Stuart Rothwell at 05/12/2024 - 23:29
It's called tough love. When people need a wake up call, softly softly just doesn't cut it.

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