NEW OR EXTENSION TO CURRENT AST?
I am a landlord with a property which is currently let to joint tenants with a 12 month AST. This AST is due to expire on 4th March 2012. I have written to the tenants to give 2 months notice as required by law, however they would like to remain in the property for another 12 months with a break clause at 6 months.
I intend to raise the rent by £55 pcm for any new term.
1. I need to write a new AST with the new term dates, how do I include a break clause? What does this mean with regard to issuing notice by either landlord or tenants?
2. Is it necessary to have a new inventory drawn up. If the tenants agree to using the current inventory in conjunction with any new AST, how do I incorporate this in the AST document?
3. The property has not been checked for condition during the current term, and the tenants have requested some redecoration, is it necessary to have the house condition and inventory checked by the Inventory company who performed the tenant's check in, or can I do this with them?
4. Can I extend the current AST and include the increase rental amount? How do I write this in an official manner using the correct terminology?
Please advise, thank you very much.
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