Increasing the rent
We have an assured tenancy (not an AST) within our portfolio, (my wife and I took over management of the flats from my late father-in-law 2 years ago. The tenants in question have historically paid a low rent, £600 for a 3 bed flat in Tooting, London) mainly because they didn't want any improvement work done to the property. However, we now feel that the rent is ridiculously low for the area and similar flats, even in average condition, achieve £1200 per month. Our question is, are we allowed in law to increase the by 100% in one go at the start of a new tenancy period? Also, the famaily have always been given a new tenancy agreement every 12 months on one of the RLA's AST form. Should we be using a different form for Assured Tenants?
Gratful for advice on these 2 questions. john Cooper, Stelvio Investments,