I have a fixed-term tenancy agreement. I would like my tenant to stay but I have to increase the rent at the end of the term. How much notice do I have to give?
If
you and the tenant want to continue the tenancy, you can increase
the rent in one of two ways. You can wait until the current fixed-term
tenancy has ended and then enter into a new fixed-term agreement.
Your new agreement can reflect an increase in rent if both you and
the tenant agree to the increase. In this situation, you do not
have to give any notice of rent increase — it will be a subject
of negotiation between the tenant and yourself in discussing the
terms of the new agreement.
If
you do not make a new fixed-term agreement and the tenant simply
stays in the rented property paying rent, the tenancy will become
a periodic tenancy. If the previous term was for more than one month,
the tenancy will become a monthly periodic tenancy. If the previous
term was for less than one month, the periodic tenancy will be weekly.
In the situation where the tenancy becomes periodic, you then have
to follow the rules regarding increasing rent in a periodic tenancy.
The rules require that notice in the proper form must be given to
increase the rent. Notice is twelve tenancy weeks in a weekly tenancy
and three tenancy months in a monthly tenancy.
WARNING:
The contents of these FAQs are intended as general legal information
only.
If
you have a personal problem, please consult a lawyer.
March
2006
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