Rented Property Focus - February 2012

How do you ensure your rental income stays in line with market values?

This month, Stephanie Robinson outlines when to consider a rent increase and how to break the bad news to the tenant...

What happens when an assured shorthold tenancy expires – can the rent be increased with market conditions?

You should agree with your tenant the amount of rent, the arrangements for paying it and if possible the intervals at which it will be reviewed before a tenancy begins. All of these details should then be included in the tenancy agreement.

Assured shorthold tenancies generally have a fixed term of six or 12 months. Once an initial fixed term has elapsed, a new tenancy can be implemented for a further predetermined length of time at an increased rent, or the lease can be allowed to run on as a statutory periodic tenancy for an indefinite length of time, based on the frequency of rental payments. For example, if the tenant pays monthly, the agreement will be a monthly periodic tenancy.
  
A landlord can only make a rent increase after the initial fixed term has expired, unless the tenancy contains a clause allowing the landlord to increase the rent, or the tenant voluntarily agrees to a rise. You must inform the tenant in writing of your intention, using a prescribed form of letter, known as a section 13 notice.
  
This notice contains details about the rent rise, including a start date for the proposed changes. The timing of its delivery is usually based on the type of agreement you have. For example, if the tenant pays monthly, you must give them at least one month’s warning of a rent increase.
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Past articles

January edition 2012

Renting out a property for the first time can be a daunting task. Stephanie Robinson kicks off the New Year with a checklist for new landlords who wish to make the most of their investment......

December edition 2011

Is taking a bond really worth the hassle when there are such costly implications for landlords who get it wrong? In this month’s column, Stephanie Robinson explains how to protect your tenant’s deposit without falling foul of the law...

November edition 2011

As the demand for rental property continues to grow, an increasing number of new landlords are entering the market. In this month’s column, Stephanie Robinson provides her top tips for first timer. I am considering letting out my property. Is there anything I should bear in mind before doing so?...

October edition 2011

Landlords who want to evict a tenant from their rented property can easily and unwittingly fall foul of the law if they do not have the right advice. In this month’s column, Stephanie Robinson highlights the key points of possession proceedings...

September edition 2011

Sheffield’s recent surge in demand for rental property could make this the perfect time for new landlords to enter the buy-to-let market – but only with careful consideration. In this month’s column, Rob Cooke outlines the basics for beginners...

August edition 2011

The courts have a key role to play in ensuring rogue tenants – and landlords – are held accountable for their actions. In this month’s column, Rob Cooke outlines two very different examples of court intervention and shows that ignorance is no excuse...

July edition 2011

It is easier to find yourself on the wrong side of the rental property laws than you might imagine. In this month’s column, Rob Cooke explains what constitutes landlord harassment and the advantages of public liability insurance...

June edition 2011

You may have heard of the Tenancy Deposit Scheme, but do you really know how it affects you? In this month’s column, Rob Cooke highlights the importance of adequate deposit protection...

May edition 2011

Ending a tenancy agreement is not as simple as it sounds. In this month’s column, Rob Cooke looks at the best ways to handle a trouble-free tenant’s departure...

Archive

April edition 2011

Why are tenancy agreements so confusing? If you are looking to rent out your property, a suitable contract is essential. This is usually called an assured shorthold tenancy agreement. I am often asked to explain the legal implications of such a document, so here are my top ten tips for landlords...

March edition 2011

Landlords and tenants both benefit from maintaining a good relationship. In this month’s column, Rob Cooke looks at two common situations in which conflict can arise and how it is best avoided...

February edition 2011

Is your property legally fit to rent out? In this month’s column, Rob Cooke gives landlords a rundown of his top ten tips for preparing a property to let...

January edition 2011

Letting your home can be a daunting prospect – particularly if you want to move back in at sometime in the future. Rob Cooke kicks off another year of advice for landlords by outlining two different ways to regain possession of your rented property...