I can't believe what my Landlord has done...

yorkshire_man_3

Hello everybody,
New to the forum here.I had a phone call from my landlord today saying that due to the BOE base rate going down to 3%,he will reduce my rent by 25 pounds a month from december.The only thing he has stipulated is that I continue to pay him the current amount by cheque and he will return 25 pounds in cash.I am very happy about this but is he or am I doing something illegal ?

poppysarah

I'd watch out if he gives you £1 coins.

Sounds very bizarre. Why wouldn't he want to declare less income?

redcar_2

I opened this expecting the usual exorbitant rent increase / uninvited access/ slow not completed repairs / deposit problem but yours is a bit of a surprise.

Nice to hear a 'good' landlord story.

Can't see what is wrong but my skeptical alarm bells would be ringing sounds like a bit of a hassle for him. Have you asked him why it wouldn't be easier to just make the cheque for less?

yorkshire_man_3

I do want to ask him but I am scared that if I do so he will change his mind and forget about it !To be fair he seems to be a good bloke.We have been renting for two years and he never put the rent up.I was wondering if any forum members had any similar experiences?

Catti

Could it just be that he will need to remortgage at some time and wants to be able to show the same level of rent to get the best deal?

Idonex

Well at least he sounds sensible.

2 months ago my landlord said he was increasing the rent by 25pw to 285pw. Asked him to re-consider given the current climate and the fact the flat needs quite a few repairs (which he hasn't done for 8 months), he said no. Handed in my notice that day and i'm moving out into a cheaper, bigger, far nicer flat this week. He put the flat on the market for £300pw straight away. Had about 6 people round each week to view it over the last 8 weeks. No ones taken it. In the words of Nelson Muntz. HA HA.

drc

He's probably got some sense and realised that its a good idea to keep tenants sweet and reward good tenants. At the moment there seems to be quite a bit of choice on the rental market, particularly in Northern England. Enjoy!

savemoney

Lets hope he doesnt do the reverse when BOE rate goes up

unite79

Think savemoney has hit the nail on the head - I would thank him for his kind offer and accept - bear in mind this is him giving you something so will not affect your TA.

What a bloody nice bloke your landlord must be.

prudryden

I'm really scratching my head on this one - the only thing I can come up with is that he has had a mental breakdown. Theoretically, he pays tax on an additional £25 that he receives but gifts away (on a non-tax writeoff basis). Eh????

yorkshire_man_3

I finally mustered enough courage to ask him.He says that his repayments on the mortgage have come down by 75 pounds due to the BTL being a BOE tracker.So he is passing on a bit of it to me.He says if rates go up,my rent will go back to what it was.Hence,he does not want to make it official.I have said thanks.Hope I am not making a mistake.