short term leases

Tenancy Types and Management

Hello.

In the current crisis, my tenants are unable to pay the full rent but they are good, long-term tenants who have looked after the property, done their best to keep up payments, and agreed to pay arrears (which currently stand at just under £1k).

As their lease is up for renewal this month, I plan to offer them a short-term (three or six month) contract at a lower rent to allow them some breathing space, and review after that. I just want to check that this is doable, and whether there are any pitfalls I should be aware of.

Thanks and best wishes, MH