Extension of Contract

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My property is occupied by 4 tenants on individual contracts. One of the tenants wishes to renew his contract for a further year. I had planned to make a small increase to the rent of which he has been advised and is agreeable to. From my understanding the rent increase requires that a new contract be issued and signed. My query relates to other issues concerning this as follows:

Does a Section 21 Notice need to be issued in respect of the existing contract due to expire given that he intends to take out another one?

As the inventory will need to be checked and updated for the other 3 tenants who will be moving out/in should I issue the tenant staying on with a new inventory?

The deposit has been secured as required by law and advice from the DPS is that the existing deposit does not need to be repaid and can remain secured. However, how do I address that in the new contract to be issued as if the wording remains the same he will have two contracts stating that he has paid an amount as a deposit. How do I reword the contract to take the already paid deposit into account?

Thanks in advance

04/07/2012 00:00

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