Peaches Posted July 14, 2007 Report Share Posted July 14, 2007 Just found this forum, it's great! Hope you can help me with the following questions: - if tenant wishes to renew after 1 yr, does the increase in rental have to be in line with RPI? What is the min and max amounts now? - what is considered 'short-term rental'? - what is the difference between Contractual Tenancy and Assured Shorthold tenancy? Many thanks Link to comment Share on other sites More sharing options...
J4L Posted July 14, 2007 Report Share Posted July 14, 2007 I've got a feeling that 5% is about the max you can increase but I may be wrong!! Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted July 15, 2007 Report Share Posted July 15, 2007 Hi Peaches I think you will struggle to get an agreement of more than 5% increase from the tenant ! There is no min - you can in fact lower the rent if neccessary..although we of course all try to avoid that one ........!! Short term let is "usually" considered to be any period less than 6 months To explain th difference between "contractual" and "ast" could get quite lengthy - if you want a full definition i suggest you google them ! Basically it is th rights you give to the tenant and the ease and speed that you can get use of your property back ...you are unlikely to be using anything other than a std AST for most BTL situations......... Simon Specially for Gareth "Either give sound advice or stay on that 'high horse' and say nothing please. It's much safer!!!!" I think its black but it could be white - but really i just dont know ....?? I hope we will not need to quote you- your own advice too often ...... Link to comment Share on other sites More sharing options...
Peaches Posted July 15, 2007 Author Report Share Posted July 15, 2007 Thanks Simon and J4L for your replies - Another question - I'm using an agent for letting service only. If the terms of my lease are for 1 year but has a 6 mth breakclause with 2 mth notice, can the agent claim for a full year's commission or can I just pay them for 6 mths? Or will they turn around and say, well, it's a 1 year lease and if the tenants do vacate early we'll pay you back? Thanks! Peaches Link to comment Share on other sites More sharing options...
GPEL Posted July 15, 2007 Report Share Posted July 15, 2007 Charges depend on the terms of business with your agent and whether termination is your fault or not. Link to comment Share on other sites More sharing options...
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