Help with addendum for reducing rent
Bit of background, i have negotiated a lower price on a property on the basis the vendor can remain as a tenant for 3 months at a reduced rent of £350.00. The going rate on the property would be around £750.00. I have been advised setting up a tenancy agreement with the amount of £350.00 could leave me open to problems if the tenant decides to stay etc. I've been told to issue a 6 month tenancy agreement with a break clause at the full £750.00 and include an addendum to reduce the rent to £350.00 for the first 3 months. This way if the tenant decided to stay longer than the initial 3 months the rent would be due at £750.00.
Does any one know a way of wording this correctly on a addendum so that it would be clear and correct?
Thank you in advance for any help,
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