Rent Increase

Supermummytobobby

He does own 5 houses all paid for, no mortgage.

He lives in a massive house , i think it was an old pub.

for some reason he done alot of work on it this year; like putting in bathrooms in all of his spare rooms (2 rooms)

He said they had some friends coming to stay for a week.

And i believe he had to fix his roof.

I know we were lucky that he didnt put the rent up each year but to increase it by a minimum of £100; its a bit of an shock.

He is right that for the same size house in this area goes for about £775 -£ 795.

But the reason he had the rent so low was that he knows he always will have tenants, that what he says.

I have a funny feeling he wants to sell a house to make some money.

We will see on tuesday.

axisofunity

Well, good luck! If you've been there four years, and say you pay £650 now and he wants £100 more, why not offer £700 which would be £75 or so less than market, but would still make him feel richer to the tune of £50 x 12.

Supermummytobobby

Our rent is £675.

we want to ask him if the rent can go up gradually over the next few month rather than £100 in one go.

sarahevie

My dad is a landlord in a similar position four houses all fully paid for. He charges £550 when market rent is £650-£700 for the simple fact the extra he would be paying tax on so isn't as big an increase as first appears. Secondly in eleven years he has never had a void, nor non paying tenant. He reckons voids cost so would rather have someone in paying £100 quid less as if it were vacant two months it would take 14 to get the money 'back' so to speak.

Just giving you another perspective so they have more 'bargaining' power. I'd recommend negotiating.