10% £50/month rent increase -ask for reduction ?

Innys

sm9ai wrote: »

Luckily I live in a town where there is so many new build apartments that there is far more supply of rental property than demand. So there is 0% chance of them increasing my rent.

This hits the nail on the head - supply and demand.

If the demand is high in the area you live in, the landlord doesn't need a decent reason to ask for more money. Some may argue that high prevailing rents in the area are, in themselves, the decent reason.

john539

Innys wrote: »

This hits the nail on the head - supply and demand.

If the demand is high in the area you live in, the landlord doesn't need a decent reason to ask for more money. Some may argue that high prevailing rents in the area are, in themselves, the decent reason.

I live in Brighton.
The rental market is very difficult & tight here.

£525/month is under market rate, or lowest end of rate for 1 bed flat.

There's a shortage of 1 bed flats, so they'd have no problem renting it out in a seaside resort, even with a few problems or in grotty condition.

It was a nightmare finding a flat to rent in 1994 & it's probably worse now with shortage of flats to rent, credit checks, guarantors, students, Londoners-by-the-sea/commuters & people who cannot afford to buy etc.

JonnyBravo

john539 wrote: »

I live in Brighton.
The rental market is very difficult & tight here.

£525/month is under market rate, or lowest end of rate for 1 bed flat.

There's a shortage of 1 bed flats, so they'd have no problem renting it out in a seaside resort, even with a few problems or in grotty condition.

You seem to have answered your own question then!
Ask away.... they may still negotiate with a reliable tenant but at under market rates you're in a weaker position!



Oh and the poll seem somewhat meaningless. Differences in initial rent/month and differences in demand countrywide mean any data is pretty irrelevent

tomstickland

if the rent increase starts to take you closer to market rates then you can expect the flat to be in a condition where it is worth those rates.

If the new rent is still acceptable for the condition of the flat then I'd not be too bolshy. However, going through a consultation rather than just accepting the rise would be the proper MSE thing to do.