Planning for Rent Increase
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?
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