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In this tutorial, Tom Sohn discusses the correct approach to increasing rent for existing tenants, emphasizing that there is both a right and wrong way to do it, as well as appropriate timing and processes. He highlights the importance of following the right procedures and using the correct documents to ensure compliance. Tom addresses common mistakes made by landlords and letting agents, urging landlords to be informed about their managing agents' processes to hold them accountable. He acknowledges that landlords may hesitate to raise rents after several years, due to concerns about upsetting tenants, but reinforces the necessity of rent adjustments.
