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    • snickpan
    • By snickpan 9th Sep 17, 12:20 PM
    • 53Posts
    • 8Thanks
    snickpan
    HMO, increase rent
    • #1
    • 9th Sep 17, 12:20 PM
    HMO, increase rent 9th Sep 17 at 12:20 PM
    I'm a bit worried about putting rent up - it's currently way below market rate, but as it's an HMO, some people have only just moved in, some have been there two years.
    I don't feel I can put someones rent up if they've only just moved in, that would be unfair - "I know last week you moved into a £xxx room, but now that you've unpacked..."
    If I increase rent for the tenants that have been there for 2 years, will they be bitter that the newbies still have the old rate? The house runs quite well, I wouldn't want to create any tension over different levels of rent.
    How do I tackle this?
Page 1
    • HampshireH
    • By HampshireH 9th Sep 17, 12:54 PM
    • 55 Posts
    • 64 Thanks
    HampshireH
    • #2
    • 9th Sep 17, 12:54 PM
    • #2
    • 9th Sep 17, 12:54 PM
    You will need to give them all notice in line with the terms of their agreement/licence. Why don't you consider this at a different time of year. I.e. January for the new year or April for the next financial year. That way every one has the agreed period of notice & a little longer to find alternative accommodation if they aren't happy may soften the blow and they will all end up on the same rent.
    • snickpan
    • By snickpan 9th Sep 17, 2:47 PM
    • 53 Posts
    • 8 Thanks
    snickpan
    • #3
    • 9th Sep 17, 2:47 PM
    • #3
    • 9th Sep 17, 2:47 PM
    very good advice, thank you HampshireH
    • G_M
    • By G_M 9th Sep 17, 10:53 PM
    • 41,106 Posts
    • 47,249 Thanks
    G_M
    • #4
    • 9th Sep 17, 10:53 PM
    • #4
    • 9th Sep 17, 10:53 PM
    You cannot simply put up rent!

    Presumably each occupant has a separate contract/tenancy agreement? You need to review these individually to see how, and when, each can have the rent altered. It is unlikely you can do all of them simultaneously!

    Read:

    * Rent increases: when & how can rent be increased?
    • rjwr
    • By rjwr 9th Sep 17, 11:21 PM
    • 282 Posts
    • 186 Thanks
    rjwr
    • #5
    • 9th Sep 17, 11:21 PM
    • #5
    • 9th Sep 17, 11:21 PM
    How often does someone put your rent up?
    But never spend money you don't have to buy things you don't want to impress people you don't like.
    .
    Originally posted by kidmugsy
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