By Lars Mucklejohn Tenants in Britain now face larger rent increases from renewing their existing contract instead of moving to a new property, new figures show, as landlords move closer towards open market rates. According to data from estate agent Hamptons, tenants renewing an existing contract in Great Britain saw their rent rise by an average of 8.3 per cent over the 12 months to April 2024. This figure outpaced average rental growth on newly let properties on the open market, which came in at 6.4 per cent. Rental growth for newly let homes peaked at 12 per cent last August, with landlords…