It’s possible to raise the rent for tenants in a property, but the timing depends on the type of tenancy. For a periodic tenancy (a rolling tenancy without a fixed end-date), you can typically increase rent once a year with the tenant’s agreement, but not more frequently. With a fixed-term tenancy (ending after a set period), you need the tenant’s agreement to increase rent during the term, or you must wait until the term ends.
When increasing rent, it must be reasonable and in line with local rates. Tenants must agree to any increase beyond the previously agreed amount or the rent increase has to be determined by a Tribunal or Court.
Landlords must provide tenants with at least one month’s notice for any rent increase, except for yearly tenancies, which require six months’ notice.
There is a legal process to follow to increase the rent which our solicitors can advise you upon.