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Rent reviews - Essential Living

Rent reviews

As detailed in your Assured Shorthold Tenancy Agreement “W4.1”

Any 1 year Tenancy that requests to renew at the end of the 1 year term would be renegotiated with our Lettings Team at the prevailing market rent at the time of the renewal request.

Any Longer Term Tenancy (3 years maximum) have an automatic rent review built in to the Assured Shorthold Tenancy (AST) and are reviewed in October each year.

Rent reviews are calculated using a formula to ensure that rental increases paid are fair. This formula bases the review on the Retail Price Index (RPI) in the September before the change is due, plus 0.5%.

Prior to any increase of your rent 2 months written notice will be issued in writing for those tenancies that are for longer than 12 months. For clarification the above Longer Term Tenancy formula would not be used to calculate any increase of the Standard 12 month Assured Shorthold Tenancy which is requested to be extended.

Date last modified: Thursday, November 17, 2016

Rent reviews - Essential Living