I rent a property out and havent increased the rent since the tenants moved in four years ago. We can't afford a decent family holiday this year and are in effect subsidising our tenants. I am under pressure from my partner and our daughter to increase the rent. I'm not greedy and don't want to do anything unethical, but was thinking of increasing it from by about 7%, hardly unreasonable over a four year period. I plan to give the tenants two months warning of this in writing and wanted to ensure that everything is perfectly legal and above board. Even at the increased price the property will remain very competitively priced. Am I going the right way about this?