Going alone

General Discussion

Hi
I am the owner of house which is has been let to the same tenant for the past seven years or so through a letting agents. I have no problem with the agents but I have now decided to manage the property myself. At the same time, as there has been no rent increase for the past 3 years it is my intention to increase it by 5% to market value. I believe at present the Tenancy agreement is periodic having started life as AST.The agents tell me they have a deposit of 1 months rent protected by an appropriate scheme.
I intend going on the RLA landlords course, but in the meantime can anybody advise me if I need to set up a new AST agreement with the tenant, if so,what would be the sequence of events and what documentation should I serve on the tenant?
Many Thanks