Rent increase

Generali

According to page 11 of the RPI document, rents have gone up by 4.7% since 2005. That is an average of a lot of different markets of course - the rental market for 5 bed Barbican flats will be very different to that for 2 bed terraces in Corporation Row in Wigan!

cmjb

Our LL deliberately priced his house to attract stable long-term tenants, like us. We're paying £25/month below the market rent for houses like ours in our area.

We moved in about 16 months ago, and the market rents are still the same as when we moved in. Unless things change significantly I expect no rent increase when our lease expires in eight months.

We're paying £25/month less than we paid for our previous place in another area, and our council tax is lower here.

I love renting! It's so much more flexible and less hassle than owning. We save the extra we would have to pay to buy a property, and we don't have all the expenses associated with owning.

Sisyphus

We almost left as our landlords' letting agents had recommended raising the rent by £500. It wasn't so much the hike as the arrogant and high handed attitude of the letting agent that annoyed us. After a quiet and intelligent discussion with the landlord we agreed on a £500 reduction. If they'd left it alone there wouldn't have been a problem. I hope they've deducted that from the agent's fees.

oranabana

Barcode wrote: »

The letter she sent us was a joke, saying the rise 'is in line with properties in the area' which is a lie.

that wouldn't by any chance be via an agency in Muswell Hill? ;-) Sounds like a very familiar letter, requesting a rent increase from of GBP 40.00 on a 850.00 property. This comes after having builders do work in the bathroom for nearly 2 months. Will need to start talking with the LL, otherwise a greedy agency will make us move on...

sausagefans

Innys wrote: »

Hi guys

I was wondering how much any landlords out there will be putting up rents this year. I have a house where the tenansts wish to say on - now for the 3rd year. I didn't put up the rent for the 2nd year but feel I have to in year 3 to cover costs.

How much, in % terms do you feel is reasonable?

The four bedroom house is in South West London and close to good transport links.

Thanks for any advice.

I

How much have your costs risen? I'm guessing the main cost is the increase in interest rates?

I would not increase the rent on our little house which we let out. I am of the mind that as the tenants live their longer they take more care of the place and this peace of mind is worth more than some extra wedge to me. That said if you can't afford the mortgage than a rise, even if it leads to short term vacancy, might be fair...