Please can you confirm if the letter below is acceptable to send to our tenants regarding a proposed rent increase.
The rent on the above property has been held since xxxxx and this has been for a period of approx. xx years. Unfortunately, due to the current economic climate and for reasons beyond our control, we are no longer able to sustain these costs and therefore we need to bring the property in line with current market values. We propose a rent increase from £xxx to £xxx per calender month, commencing on xxxxxx.
We thank you for being a valued tenant and we hope you understand our reasons for implementing this increase. Should you wish to discuss any of the above matters, please do not hesitate to contact us on xxxxxx