Memorandum of Rent Increase for Company Let
This Memorandum of Rent Increase for Company Let should be used where the Landlord and Tenant have agreed to increase the rent payable under a company let tenancy agreement that has expired.
When the fixed term of a tenancy has expired the Tenant is allowed to remain in occupation of the property and the tenancy becomes a “periodic” tenancy. The Landlord and Tenant may wish to agree an increased rent without entering into a new tenancy agreement. This Memorandum can be used to record the new agreed rent.
An alternative is for the parties to enter into a new tenancy agreement, on the same terms as the old agreement (unless there are other terms the parties wish to vary) but with a higher rent figure. This would create a new fixed term, giving the Landlord and Tenant certainty that the tenancy will not be terminated until the fixed term has expired. For a simple new tenancy agreement which incorporates the terms of the old document see the Tenancy Renewal template.
Optional phrases / clauses are enclosed in square brackets. These should be read carefully and selected so as to be compatible with one another. Unused options should be removed from the document.
This Memorandum of Rent Increase for Company Let is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.