Rent Increases &Tenancy Deposit Scheme
Hi, I have a few questions regarding Rent Increases and the TDS, all our tenancies are Assured Shorthold Tenancies.
As I understand it with Assured Shorthold Tenancy Agreements, the rent can be increased in several ways and I am not quite sure which is the best method!!
1. By having a rent increase/review clause in the tenancy agreement, The rent can be increased strictly following the rent increase clause -- Is this recommended?? Also I am a little confused regarding the wording of this clause - What if you reviewed the rent and didn't want to increase it, would you have to notify the tenant that you have reviewed it and it won't be changed? and if you forget to review the rent at the time specified in the clause, what happens then??
2. If there is no rent increase clause in the agreement, I believe a Section 13(2) Notice of rent increase can be served on the tenant.
If the tenancy is an AST which is now 'statutory periodic' when do you serve the notice and how much notice do you have to give before the rent increase comes into effect?? All our tenancies started before the Tenancy Deposit Scheme came into effect, will issuing a Section 13 mean the bond for that property will have to be protected in one of the schemes??
I have also heard that the tenant can take action against the increase by referring the rent to a Rent Assessment Committee. What does the committee do and can they stop you increasing the rent altogether??
I would appreciate any advice on this!!
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