Renewing tenancy with a rent increase
Hi everyone, would be grateful for any thoughts on the following:
I have a student HMO, usually let on a 12 month basis July - July.
My current tenants, who are in their second year in the house, have indicated they'd like to renew again.
When I renewed their tenancy the first time, this time last year, I secured the let by issuing a new 18 month tenancy in February (superceding the existing 12 month one which would expire in July 2019) to take them through to July 2020. I simply transferred the existing deposit to that new tenancy. Doing it that way reduced the risk of me being left trying to find new tenants late in the day if they changed their minds, given that demand for student houses is at its highest during February - April.
I can do the same thing this year (ie issue a new 18 mo contract for Feb 2020-July 2021 to supercede the existing one and transfer the deposit), BUT ideally I'd like to increase the rent a bit from July. Is there a way to secure the tenancy now with a rent increase written in from July?!
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