Am I justified in increasing rent?
I have tenants whose AST runs out soon. They have indicated they'd like to stay in the property and that has been informally agreed.
With reference to the rental market in the last year and what is likely to happen in the next 12 months, am I justified in raising the rent? If so, by how much and what is my justification?
I'd appreciate some advice and input. I'm a relatively new landlord and haven't reached this juncture before, and I'm not sure where the rental market sits within the wider economic outlook.
Many thanks in anticipation
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