Fixed percentage increase. 9. Example 1. In this example, the fixed term tenancy is for three years and the rent is agreed at £300 per week for the first year with an option for the landlord to increase the rent by no more than 1.4% in each of the subsequent two years of the fixed term. The tenancy commences on 1 May 2020. If the landlord carries out a review and increases the rent by the maximum amount each year, the rent which will be payable each year will be (rounded to the nearest xxxxx): Year 1 (from 1 May 2020) Year 2 (from 1 May 2021) Year 3 (from 1 May 2022) £300 per week £300 x 1.014 = £304.20 per week £304.20 x 1.014% = £308.46 per week 10. Example 2. In this example, the fixed term tenancy is for three years and the rent is agreed at £300 per week for the first year with an option for the landlord to increase the rent by no more than 1.4% in each of the subsequent two years of the fixed term. The tenancy commences on 1 May 2020. However, at the start of the second year, the tenant faced some financial hardships and agreed with the landlord to a rent increase that year of 1% instead of the 1.4% initially agreed. In the final year of the tenancy, the landlord decides to increase the rent by the full 1.4
Appears in 4 contracts
Samples: Assured Shorthold Tenancy Agreement, Assured Shorthold Tenancy Agreement, Assured Shorthold Tenancy Agreement
