My landlord wants to put the rent up but....

DaveLy

BitterAndTwisted wrote: »

Without a calculator even I can figure out that the rent-increase is a shade under 10%

I think that's daylight robbery

£70 ontop of £690 - a shade over not under :-)

10.1% Way more than inflation etc.

shakeit_2

BitterAndTwisted wrote: »

Without a calculator even I can figure out that the rent-increase is a shade under 10%

I think that's daylight robbery

I think its pretty steep too but seeing as they havent increased it in nearly 3 years.... and it does include the bills except council tax, so its based on increase of energy prices too....

shakeit_2

DaveLy wrote: »

£70 ontop of £690 - a shade over not under :-)

10.1% Way more than inflation etc.

whats a normal % increase then? or isnt there one?!

Rainmaker_uk

DaveLy wrote: »

£70 ontop of £690 - a shade over not under :-)

10.1% Way more than inflation etc.

Inflation has got nothing to do with this. This is about supply and demand for rental properties. Demand has gone through the roof as no one has got the deposit to buy. Hence supply has gone down and prices up.

Simples.

BitterAndTwisted

DaveLy wrote: »

£70 on top of £690 - a shade over not under :-)

10.1% Way more than inflation etc.

The current rent is £690 and they are now asking for £758, so that's an increase of £68 not £70 a month, so as I observed that's an increase of a fraction under 10%

A person could add a percentage for inflation but it looks like the OP has acknowledged that in their neighbourhood comparable rents are higher, so he either argues the case or pays up. Either way, I wouldn't pay any backdated increase whatever they say. Being told on the phone that the rent will increase by blah, blah, blah per week is not the same as being served the correct documentation. I think the agents have cocked up and are trying to hide it from the landlord.

shakeit_2

Rainmaker_uk wrote: »

Inflation has got nothing to do with this. This is about supply and demand for rental properties. Demand has gone through the roof as no one has got the deposit to buy. Hence supply has gone down and prices up.

Simples.

pretty much. It may be worth mentioning this is a studio flat in a nice part of North London thats suddenly become very trendy.

shakeit_2

BitterAndTwisted wrote: »

The current rent is £690 and they are now asking for £758, so that's an increase of £68 not £70 a month, so as I observed that's an increase of a fraction under 10%

A person could add a percentage for inflation but it looks like the OP has acknowledged that in their neighbourhood comparable rents are higher, so he either argues the case or pays up. Either way, I wouldn't pay any backdated increase whatever they say. Being told on the phone that the rent will increase by blah, blah, blah per week is not the same as being served the correct documentation. I think the agents have cocked up and are trying to hide it from the landlord.

i agree. they said thered been a delay in getting the contracts out but seeing as the agent is literally next door to my flat and they hand delivered it dont have much sympathy. they sent a letter prob beginning of sept saying there was going to be increase but it did not say the exact amount and followed up with you ll receive a new contract and a dd / so mandate for new amount.

kirstyjessen

blimey your rent is cheap!!!! i used to live in a 1 bed unfurnished all bills paid studio and it cost me £590 and then i lived in a 1 bed unfurnished all bills included flat £880 where do you live to get it so cheap i would love to know! i would definetly move theire at that price if you don't like the price move out and look for something cheaper!! maybe a house or soemthing i am in a house and its cheaper then when i was in a flat also if you go to a no bills included you can control the bills meaning they can be cheaper if you can manage it and if you are not wanting to move out and willing to pay the extra work out where you can cut spending to find the money as i said all bills included you are paying nothing really.

tbs624

Rainmaker_uk wrote: »

Inflation has got nothing to do with this.

Really? Do you personally know the LL and their specific business plan?

The OP has expanded on the original info to say that the "rent" fig includes utility bills + no increase for "almost 3 years". I personally would not let a property which is inclusive of bills - there is no incentive for a T to keep those utility costs to a minimum, as they probably would if they were in their own name, separate to the rent payments. That combined with the huge hike in energy bills is likely to decimate the LLs profit margins

Rainmaker_uk wrote: »

This is about supply and demand for rental properties. Demand has gone through the roof as no one has got the deposit to buy. Hence supply has gone down and prices up.Simples.

Leave the bl&&dy meerkats at the zoo.

It's not that simple - it's not only about FTBs not being able to pull a deposit together, it's also about employees being wary of potential redundancy, about FTBs hanging on to buy in case the market drops again, it's about potential/existing LLs not being able to pull a deposit together to buy rental properties. Some "accidental" LLs have finally sold up and some LLs are hanging on to their properties in the hope of an upturn in the housing market......blah, blah...

The demand for good reliable Ts doesn't alter much though and there are still properties/LLs who are suffering voids, albeit not so much the case in the SE.

LLs who try to be too greedy may of course end up with Ts in arrears & then struggle to get a speedy eviction......

shakeit_2

kirstyjessen wrote: »

blimey your rent is cheap!!!! i used to live in a 1 bed unfurnished all bills paid studio and it cost me £590 and then i lived in a 1 bed unfurnished all bills included flat £880 where do you live to get it so cheap i would love to know! i would definetly move theire at that price if you don't like the price move out and look for something cheaper!! maybe a house or soemthing i am in a house and its cheaper then when i was in a flat also if you go to a no bills included you can control the bills meaning they can be cheaper if you can manage it and if you are not wanting to move out and willing to pay the extra work out where you can cut spending to find the money as i said all bills included you are paying nothing really.

I suppose ' nothing' depends on what your salary is. Obv mine is not enough to cope easily with that amount of rent each month!
and I live in Stokie.