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rent increase per annum
lilibet1
Posts: 820 Forumite
could you please advise me for a friend who is renting. She has rented a house for 2 years now and the first year the rent was 1500.00 per month then last year the landlord increased it to 1590.00 per month (6% increase) the question is she is trying to work out whether he will increase it again by 6% this year. Do landlords tend to do this or is it at their discretion??? Is 6% the rate of inflation or another figure?
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Comments
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Some landlords make things up as they go along. Regardless of what the rent was and is now, your friend should do some extensive research into what similar properties are being offered for rent at the moment. And be prepared to move if the landlord proposes another substantial increase.
What most sensible landlords want is a reliable tenant in a property for the long-term. Only an idiot would want to risk a void between lets for the sake of fifty quid a month in rent.0 -
thank you. She is a very good tenant and looks after the property to a very high standard and also the gardens which are huge. She does love living there as it is very quiet and she has a 11 year old son who has downs so wants stability but if its nearly another 100.00 a month increase then its getting too much. I will pass on your thoughts. Thank you x0
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Totally agree with B&T.
The rent should be decided by market rates - not a general inflation figure which includes the increase in cost of the landlords favourite coffee.
Get your friend to look for similar properties in the local area - either in the paper or on rightmove. Her property should be slightly less than these properties - because hers is getting a little jaded around the edges after 2 years of wear and tear.
There is nothing wrong with negotiation, and if both parties can agree a rent for the coming period, then great. If the landlord is intransigent, then this page has details of the formal/legal way of raising the rent.
Ultimately, the biggest weapon your friend has is to move to one of the cheaper/better properties she discovered as part of this process
Life should be a little nuts; otherwise it's just a bunch of Thursdays strung together.0
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