Planning for Rent Increase

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L
Laughing Hobbit
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I am about to let for the first time.

I am letting to a friend at a below market rent.

In discussion, I have said that I will let at 400 per month (the market rent is around 500 - 550), for the initial 6 month AST, but that I would be raising the rent to market levels after the first six months.

I want to include this in the tenancy agreement and would like guidance on the wording to do this. Also, the downloadable tenancy agreement is a PDF format so does not allow for additions such as this.

Also, I believe that if I am letting at below market value, an independent witness is required to sign the tenancy agreement. Again, their is no facility to add this to the downloadable document.

Can you help?

Many thanks

Penny Prosser

20/11/2009 00:00

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