What I worry about is that my tenants will see it as an opportunity to ask for x, y and z to be done knowing the Landlord cannot jack up the rent to compensate. Mine are in situ 4 years +, I don't have either the time or money at the moment for a renovation project, however if my tenants start asking for x, y and z I believe it would be best to give them the 112 days notice to get sufficient access and time to do what I need and get it back onto the market. Where am I fixed to to do this if required?
My other option is to give the property over to the auctioneer who found the tenants and let them look after the rent increases (which are below market ) and run the process that way.