can you increase rent if interest rates go up?

searcher30

when you are landlord can you increase the rent if interest rates go up as the mortgage goes up? what is the law on this?

martyn4764

What does your tenancy agreement say about rent rises?

nelly_2

Paragraph 18 part 3 B states;

as a landlord you are not allowed to cry like a big fairy just cos your making 10 quid a month less than last year.

searcher30

nelly wrote:

Paragraph 18 paqt 3 B states;

as a landlord you are not allowed to cry like a big fairy just cos your making 10 quid a month less than last year.

Thank you for your totally irrelevant reply

nelly_2

searcher30 wrote:

Thank you for your totally irrelevant reply

Actually as my posts go, that was a pretty helpfull one

searcher30

nelly wrote:

Actually as my posts go, that was a pretty helpfull one

Please keep your posts to the Discussion Area and Money Saving Arms.
Your sarcastic comments are not required in my threads.

Thanks in advance

hornetgirl

I think the norm is that you can only put rents up once a year, so if interest rates rise ten months in a row - oh dear! This is the kind of thing you need to think about before getting into BTL.

iamconfusedagain

Surely you can only put up the rent at the end of the contract. But if that makes the rent poor value then you are likely to get longer void periods.

Interest rates are your problem not your tenants

clutton_2

if it does not say anything in your AST about rent rises, then the rent cannot be increased during the term of the agreement.

It is generally accepted that rents can only be increased once a year, and if tenants think it has been inceased by too much they can contact their local Rent Office and ask them for an assessment of the Local Rent.

meanmachine_2

searcher30 wrote:

when you are landlord can you increase the rent if interest rates go up as the mortgage goes up? what is the law on this?

I think it's called sods law.

And what you mean is: "Oh dear, my mortgage has gone up. Can I pass this increase on to my poor old tenant?"

No, is the answer.

clutton_2

having said what i said, in 204 when interest rates went up 5 times in one year, i discussed rent increases with all my tenants, and, they all agreed to a very helpful small increase - this property business, is about people and negotiation as much as anything !