Implementing rent increase
A property we recently purchased has a tenant with a 5 year AST, which started in 2005. The rent they are paying is well below market value. The AST has a clause stating "Rent can be incresed every two years".
I have noticed that the guidance notes on Section 13(2) says not to use it if the tenancy agreement contains a term allowing rent increases. What procedure should we use for informing the tenant of the rent increase?
Thanks for your help
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