new tenancy agreement
We have just sold one of our properties to an investor. The property already has a tenant living there who is on a roll over lease as she has been there for approx. 2 years. The investor has asked if I will manage the property for him as I am familiar with the property and the tenant. Am I right in thinking I need to draw up a lease in the new landlord's name? the tenant is currently paying £425 rent PCM, however tenants in surrounding apartments are paying £450. How much notice to I need to give the tenant advising her that the landlord would like to increase the rent by £25 so she is paying the same amount as all the other tenants in the apartment block?
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