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  • FIRST POST
    • Becks81
    • By Becks81 8th Sep 17, 5:22 PM
    • 426Posts
    • 2,903Thanks
    Becks81
    Rent increase by 35%
    • #1
    • 8th Sep 17, 5:22 PM
    Rent increase by 35% 8th Sep 17 at 5:22 PM
    As above, the landlord has just informed us that they will be increasing the monthly rent by £240 in January 2018.

    We had a rent increase last year and the year before of around 2%, in our tenancy it states that 'the rent is normally increased by a percentage linked to the annual rate of inflation' This is the only section in our tenancy that mentions rent payments.

    I know we rent, and it is his house (we rent privately) but we are good tenants, never late with the rent and have lived here for 9 years. Can he do this? Finding an extra £240 spare cash each month is going to be a challenge.
Page 2
    • csgohan4
    • By csgohan4 10th Sep 17, 8:05 AM
    • 3,767 Posts
    • 2,351 Thanks
    csgohan4
    OP what have you done with the rent saved from the years of undervalued rent value?
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • Mobeen Younas
    • By Mobeen Younas 10th Sep 17, 8:24 AM
    • 4 Posts
    • 1 Thanks
    Mobeen Younas
    This is the bad news for me in 2017 the reason is that i have not my own house.
    • katebl
    • By katebl 17th Sep 17, 1:27 PM
    • 593 Posts
    • 281 Thanks
    katebl
    Finding it rather odd the tenant is getting told they have "done well out of the landlord" and asked what they have spent their money on otherwise when as the OP states this is the third consecutive annual increase, as if the tenant has been ripping off the poor hapless landlord and laughing to themself along the way. Once upon a time on this board were plenty of LL stating they priced low to keep a good tenant - guess they were savvy enough to sell up by now

    The landlord dropped the ball somewhere along the line even if this isn't S24 related, and OP I would definitely ask to negotiate on that increase, don't give a point blank refusal but just enquire - I hope you can come to a compromise
    • SuboJvR
    • By SuboJvR 18th Sep 17, 9:58 AM
    • 352 Posts
    • 238 Thanks
    SuboJvR
    Agree with the above; there's also a lot of assumptions going around like assuming the OP's pay has gone up by X amount whilst rent stayed the same. We don't know what the OP does for a living, if they work for the NHS for example then it's very well documented how the salaries have been capped in that sector all the while other costs of living increase. (Household bills including energy, council tax, contents insurance, car insurance if applicable, etc etc).

    I would definitely try and make an offer to the landlord and see if they'd be happy with that, if it's something you can afford. Are there any places you can try and save more in a month to help? Moving is expensive, and if you're happy where you are it may be worth trying to see what you can do to stay. If you can't move out of the area, you may just need to make peace with needing to pay that extra rent in a month.

    Landlords like long term tenants for the security they offer, but the downside is they don't get a new opportunity every year or two to increase the rent by a larger amount without causing anyone any problems.
    Last edited by SuboJvR; 18-09-2017 at 10:01 AM.
    • martinsurrey
    • By martinsurrey 18th Sep 17, 11:47 AM
    • 3,063 Posts
    • 3,748 Thanks
    martinsurrey
    Would want more, however would employers give that much of an increase?
    Originally posted by cjdavies
    If they didn't would you stay with that job or walk down the road for 35% more?

    Property investors have many choices. Those choices include (1) people choosing not to invest in property, and (2) people selling investment properties to invest in other assets - such as stocks and shares.
    Originally posted by steampowered
    A mix of both is happening. The lack of investment in to the rental sector and a sell of of existing sock is reducing the supply of rental properties.

    The average rental house houses more people than the average owner occupier house (house shares and HMO's), so the conversion from rental to owner occupier, decreases rental supply faster than it reduces rental demand, meaning prices go up for the existing rentals.
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