A couple of questions about rent increase

BobQ

OP you seem rather combatative on this issue.

It really does not matter how the LL manages her property. LLs sometimes use an agency to save the hassle of dealing with aggressive tenants (are you one?) or to avoid having to arrange the legal paperwork themseves or to avoid having to take guesses at the right rent to charge. Not your concern.

Equally you do not why she is taking this stand. Maybe she is waiting for you to move out so that she can send in some contractors to spend a month updating the property while its empty so she can market it for a higher rent? You do not know.

All you can say is whether the rent is worth it to you or not. Can you see a similar size property nearby with DG and CH? How much is its advertised rent? How much is yours? How much does she want to charge? If your proposed rent is within say 10% of a similar more modern property I would move. If its 40% lower and all you can afford then hand on. If its in between you need to decide how much you want to stay in her house?

Have you actually tried to view a few properties and see what you can get for your current rent? Was it a nice property with DG and CH of the same size as the current abode?

One of my tenants responded to a proposed rent increase by giving me notice. I was a little surprised because the agent had discussed the rent increase with me and I had erred on the lower end of the suggested increase band because they were good tenants. Three weeks later they asked if they could change their mind because they now realised it was a fair rent.

red_devil

I dont see why rents keep rising. Property prices are going down? Why do rents keep going up and are there all these people around who can afford to pay? If I am not here how do they know they will get someone else?

Everyone is feeling squeezed arent they? Sorry i dont understand why the rent even has to go up again. Do rents ever go down? Whats the justification for the increase. The house isnt on a buy to let mortgage.

I dont get why they want to put more pressure on you? Who can afford all these high rents.


Thanks for replies. Im refusing to pay and telling them I cant pay. Will see what happens.

paddedjohn

rents increase for many reasons not least the fact that some portfolios are income for pensioners and if their cost of living rises then they have to get extra income from raising rents. Interest rates are at records lows so savings arent doing the job for them.
Why not quit moaning and vote with your feet.

red_devil

property prices have dropped.

SavvyStudentSaver

Regardless of however much you protest, your landlady is allowed to increase the rent. If you don't like it, you have the following options:

a) Stay and pay the new rent, and grumble.
b) Leave and find somewhere else.
c) Stay and continue to pay the old rent- but expect the landlady to pursue you for the outstanding rent, and begin eviction procedures as soon as she can.

It's her asset, she can do what she wants with it, within the law. If you bought a cup of coffee from Starbucks every day for two years, and they decided they wanted to sell it for more, then you'd either have to go elsewhere or pay the new price- and this situation is exactly the same. Now, if your rent is going up by an unreasonable amount (considerably more then similar properties in the surrounding area), you can apply to a Rent Assessment Committee, but your landlady may well evict you if you do that anyway.

And if it's only going up to what other places nearby are being charged- well, she's been nice to you for letting you keep it low until now. She could've put it up before now and even got someone else in, and made more money in that case.

Regardless of whether property prices have dropped- if rents have increased in your area, and the landlady can get more for it, that's what the rent for the house is worth.

Any other issues you have with the house are separate, and should be dealt with as such.

BobQ

red_devil wrote: »

I dont see why rents keep rising. Property prices are going down? Why do rents keep going up and are there all these people around who can afford to pay?

Rents are generaly determined by the market for rented accommodation - that is what people are prepared to pay. You may not be able to afford it but others can.

Yes rents do fall at times, often when house prices are relatively low compared to incomes and the economy is growing, people then want to buy not rent. But at present taking out a mortgage is risky so they prefer to rent and the demand for rental properties is high, so rents rise.

If I am not here how do they know they will get someone else?

Its a business, if the agent does not think they can let it at that price they will negotiate. But either way its not your problem if she ends up with an empty house or has to spend money improving it or ends up letting at a lower rent.

Everyone is feeling squeezed arent they? Sorry i dont understand why the rent even has to go up again. Do rents ever go down? Whats the justification for the increase. The house isnt on a buy to let mortgage.

Market forces. You may not be able to afford it but they think someone will. Equally LL may just want rid of you so is just bumping the rent up in the hope you will leave or stay at much higher rent. Its irrelevant what mortgage is used and you cannot know what type it is.

I dont get why they want to put more pressure on you? Who can afford all these high rents.

I know it does not seem fair but its a business not a charity. Rest assured that if LL cannot find a tenant at that rent she will reduce it. For all you know someone has made an offer to buy the house.

Thanks for replies. Im refusing to pay and telling them I cant pay. Will see what happens.

That's a fair strategy but if she gives you legal notice you will not have much choice but to leave. Good luck!

See inline comments above

red_devil

update. I said i couldnt afford it and they agreed for rental to stay the same always worth a try.:j

tbs624

Result! Thanks for updating the thread.