We have just received a positive response to the representations we made to the Trustees of Trinity House in relation to the new AST leases that were introduced at the beginning of the year.
Martin Atherton (the new Secretary to Trinity House) has just told us that the 3% minimum and 5% maximum annual increase will be removed. Rent increases will now be agreed individually with each leaseholder in line with local market rates, and RPI will only be used to set rent increases if Knight Frank and the leaseholder cannot agree on an appropriate figure.
In addition, tenants (but not Trinity House) will have the right to terminate their contracts at the end of the second year of their three-year leases.
Furthermore, those who have signed new leases within the last twelve months will have the option to migrate to a revised lease incorporating these new terms.
The TNRA Committee will review all the other points made in Trinity House's response at our 7th January meeting, following which we will provide further details on our Facebook page and via an e-Letter. Meantime we believe that these changes should significantly help you to plan for the future and enable you to remain in Trinity Village as part of our great community.
A very Merry Christmas and Happy New Year to you all from the TNRA Committee.