Rent increase

barnaby-bear

Jay1b wrote:

Can i recommend https://www.learndirect.co.uk?

Why? Is that where you learned to compose your sig.

"A bargain is only a bargain if you would of brought it anyway!"

I think you meant ASTUTE, as the only relevent meanings of acute can't be used as you did...

PosterBoy77

I have been a landlord and a tenant. No matter what landlords may want to charge, or feel tenants should pay, it is only possible to let out a property at a price that people are prepared to pay. This is also affected by the number of other similar properties that may be available, and how much they are going for.

Prices are not determined by inflation, but by the going rate. Tenants may well understand your reasons for wanting a rent increase, but if they can rent for the same or less elsewhere, why should they pay more?

If you have good tenants and they pay their rent on time, I would keep them and not rock the boat. You may well find that you will not be able to let for more even if you do decide to get rid of them, and then have a void and you could end up with tenants who don't pay rent etc.

Late entrants to the BTL market will have higher mortgage payments, but that is not the tenants problem. In many areas there will be sufficient properties being let by landlords with lower costs so that any landlord asking for top money may never find any tenants at all.

CB1979_2

barnaby-bear wrote:

Why? Is that where you learned to compose your sig.

"A bargain is only a bargain if you would of brought it anyway!"

I think you meant ASTUTE, as the only relevent meanings of acute can't be used as you did...

:rotfl: :rotfl: :rotfl:

Jay1b

From Dictionary.com

4. sharp or penetrating in intellect, insight, or perception: an acute observer.

So perhaps in future when other people are kind enough to spend their time to give their views and recommendations to a OP, you can learn to mind your own business rather than make meaningless digs at their choice of words, which just so happens to be the right word. Even if it wasnt actually a word, anyone who has any form of intelligence would soon understand what was implied by it. And anyone with manners wouldnt of commented on it, especially in just a nasty way.

Thank you for pointing our the grammatical error in my signature. Although anyway, it was written as a dig.

barnaby-bear

Jay1b wrote:

From Dictionary.com

4. sharp or penetrating in intellect, insight, or perception: an acute observer.

Thank you for pointing our the grammatical error in my signature. Although anyway, it was written as a dig.

Yes the above is ok,because the "acute" is being used to describe an observer ... you can't say "the observer is acute"

barnaby-bear

Jay1b wrote:

From Dictionary.com

4. sharp or penetrating in intellect, insight, or perception: an acute observer.

Thank you for pointing our the grammatical error in my signature. Although anyway, it was written as a dig.

Yes the above is ok,because the "acute" is being used to describe an observer ... you can't say "the observer is acute"

--- well you can if you mean their angle is less than 90 degrees

Gorgeous_George

Isn't the English language wonderful.

Aoccdrnig to a rscheearch at Cmabrigde Uinervtisy, it deosn't mttaer in waht oredr the ltteers in a wrod are, the olny iprmoetnt tihng is taht the frist and lsat ltteer be at the rghit pclae. The rset can be a total mses and you can sitll raed it wouthit porbelm. Tihs is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the wrod as a wlohe.



GG

Innys

Thanks for all the advice guys - I won't get drawn into the debate about use of the English language...

Having done some research on the Rightmove website I see that most houses in the immediate area with the same number of (double) bedrooms are charging anything between £0 to £200 pw more than I am.

However, these have all been recently refurbished. Mine HAD been refurbished - before the current tenants moved in - it's not in as great condition now. What a surprise...

The other thing to note is they all have just the one bathroom. My house has four double bedrooms, a study and two bathrooms, split amongst four tenants. This means there are no equivalent houses in the area to compare to.

On the other hand, does an additional bathroom make much difference? I think it does. When I was renting myself, I know I was seriously ticked off when desperate to "go" but my flatmate had "occupied" the facilities.

Bearing this in mind I'm tempted to ask for an increase of just over 5%. Is that reasonable?

Gorgeous_George

Of course it is reasonable but your tenants may decise to move. A one month void equates to an 8.5% loss.

Best to discuss any potential increase with your tenants before imposing the rise. Communication is wonderfuL.



GG

morg_monster

Bf and I rent for £950 a month in Balham. Our year comes up in May. Someone already pointed out this concept but, this year my pay and that of my bf went up by 3%. So if our LL puts our rent up by anything over 3% we would move out (the flat is already kind of at the top of affordability for us). I hope he doesn't though, he is lovely and lives in Portugal and hopefully won't want the hassle, I think we're being good tenants! He rents through an agent though - i've no idea if an agency would 'force' a rent rise on the LL/tenants? surely not.