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10% £50/month rent increase -ask for reduction ?
john539
Posts: 16,968 Forumite
Just had a letter from my letting agents saying they want to increase my rent by £50/month to £525/month, from £475/month !
I rent a very small 1 bed basement flat on south coast, own entrance, small garden.
I have rented the flat for 13 years.
I pay rent on time & must be one of my landlords/agents best tenants.
Previous rents:
1994-2001 £380/month (7 years)
2001-2004 £410/month (3 years) £30/month increase
2004-2006 £450/month (2 years) £40/month increase
2006-2007 £475/month (1 year) £25/month increase
2007-20xx £525/month proposed £50/month increase
For a number of years they didn't increase the rent & I think I am currently paying under market rate for the area.
But it is a very small 1 bed flat, no maintenance over 13 years, other than essential.
Flat would need redecorating & various other problems would need sorting (boiler/plumbing) to let flat to someone else.
I don't bother landlord/agent unless it's essential, they don't bother me & I like to keep it like that.
Unfortunately in last few years the new girl at letting agents has taken more interest & started to increase the rent !
The previous rent increases haven't been as large, so I was surprised at first at £50/month increase this time.
But they didn't increase rent in previous years, so they may be adjusting rent closer to market rate.
I could ask for small reduction, as I don't want them to think they can increase rent so much, unchallenged. I don't want this type of rent increase each year, but I want to challenge when time is right, if they get stupid in coming years.
I don't really want to try it on, as I think I have had a good deal over previous years.
I'm not sure whether to leave it this time or to ask for small reduction.
Should I ask for reduction, what do you think ?
.
I rent a very small 1 bed basement flat on south coast, own entrance, small garden.
I have rented the flat for 13 years.
I pay rent on time & must be one of my landlords/agents best tenants.
Previous rents:
1994-2001 £380/month (7 years)
2001-2004 £410/month (3 years) £30/month increase
2004-2006 £450/month (2 years) £40/month increase
2006-2007 £475/month (1 year) £25/month increase
2007-20xx £525/month proposed £50/month increase
For a number of years they didn't increase the rent & I think I am currently paying under market rate for the area.
But it is a very small 1 bed flat, no maintenance over 13 years, other than essential.
Flat would need redecorating & various other problems would need sorting (boiler/plumbing) to let flat to someone else.
I don't bother landlord/agent unless it's essential, they don't bother me & I like to keep it like that.
Unfortunately in last few years the new girl at letting agents has taken more interest & started to increase the rent !
The previous rent increases haven't been as large, so I was surprised at first at £50/month increase this time.
But they didn't increase rent in previous years, so they may be adjusting rent closer to market rate.
I could ask for small reduction, as I don't want them to think they can increase rent so much, unchallenged. I don't want this type of rent increase each year, but I want to challenge when time is right, if they get stupid in coming years.
I don't really want to try it on, as I think I have had a good deal over previous years.
I'm not sure whether to leave it this time or to ask for small reduction.
Should I ask for reduction, what do you think ?
.
What was your last rent rise ? 23 votes
up to £10/month
39%
9 votes
£10-£20/month
4%
1 vote
£20-£30/month
30%
7 votes
£30-£40/month
4%
1 vote
£40-50/month
0%
0 votes
£50-£60/month
8%
2 votes
£60+/month
13%
3 votes
0
Comments
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There's no harm in asking, it's how far to push it that's the question, or you could agree on condition that x,y & z are done to the flat.
You need to really check out to see if you are paying below the market rent & by how much. Go view a few properties for comparison, it might be worth moving.
You are right, you don't want to be seen as a soft touch, which it kinda looks like they might be thinking - looks like a 16% increase over two years."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
id go to them and say you appreciate they have to increase the rent costs (theyre a business after all) but explain what needs doing to the flat. maybe try and negotiate with them. if the dont do anything to the flat then youd allow a £20 increase but for £50 youd like it to be up to scratch. maybe dont use the word "allow" but i hope you know what im gettng at lol0
-
what sort of tenancy are you on?:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
Call their bluff. You've accepted all the previous rent rises, so they are trying it on again...
I think that's an outrageous increase, but I don't know where you are living.Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson0 -
Outrageous increase? 38% over 11 years - doesn't sound very outrageous to me - I suspect average salaries have gone up by more than that in 11 years. I think they are trying to get you to pay closer to the market rate which, I feel is reasonable.
Look at it another way - for the first seven years there was a zero increase which you have benefitted from. It couldn't go on forever, could it? Your sentence "I don't really want to try it on, as I think I have had a good deal over previous years" says it all, I think.
As for the work that needs doing to the flat, you could try to get it included if you agree to pay the current increase. They could, though, call your bluff, ask you to leave and then still let it out to someone at £525 a month if the market rate is higher than that.
It all boils down to what the market rate is in your area. Until you have found that out, any advice you get off this forum may be academic.0 -
I don't know where the OP is living. If it's a one bed flat in Hull, they're being ripped off. If it's in central London, obviously not.Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson0
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>I don't know where the OP is living
>>"I rent a very small 1 bed basement flat on south coast"0 -
It says 'south coast'.0
-
That will teach me to not try to browse this forum and work at the same time!
That said, that is probably under priced if you're in central Brighton, but a bit high if you're in the sticks.Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson0
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