Fair rent increase?

Apoorwoman

Please, please people, stop bickering - life is too short.

I am beginning to wish I had never asked advice now. But, I do thank all the posters for their input.

No, I haven't put the rent up yet, mainly because the poor guy has put his back out and hasn't been able to work all week (self-employed) so now is not the time.

I will discuss it with them in the autumn when they reach their eighth anniversary and see how it goes from there.

Thanks again everyone :wave:

Dird

selement wrote: »

As a tenant £100 sounds like a big increase. My rent is not as high as this, but if ours went up by that amount I think I'd look elsewhere even though we really like the house

But as you said your rent is not comparable. Lets assume the local rent in your area is £500/month and you've spent the last 10 years paying £370/month. You'd be a fool to leave if the LL wanted to increase to £420/month. £50/month extra for you is like £100 on a £1200/month typical house

Chrysalis wrote: »

if I was your tenant I would accept providing you made a promise to stick to that rent for say another 5 years or so.

Who are you kidding xD You might try such a cheeky suggestion but if they turn around and say "no gurantees" but you're still paying way below the market average you're not going to leave to pay even more elsewhere.

Also LHA budget constraints shouldn't be an issue because LHA tenants shouldn't be living in a lush house typically costing £1200/month!

[Deleted User]

lol Here we go again. I lived in a very average 3 bed terrace with lots of problems (not a lush house by any description - and no where near your 'typical' 'lush' rent suggestion) and it was still £150 above LHA. I looked for months, there wasn't a single 3 bed property anywhere for the LHA. Most of the other 3 beds in my street (again not lush) were going for more rent.

When I looked at other areas, including Great Yarmouth, very few properties for rent were at LHA (certainly not the bottom 30% we were originally told LHA levels would be set at in any area), most were up for more.

And then you have the problem finding a LL who will let to a person on LHA.

Perhaps you need to look more carefully at what LHA is before you accuse people of looking for 'lush' properties lol.

alchemist.1

Some people do live in ivory towers.

mrginge

Post #45 (I won't bother quoting).

Lol.

SnooksNJ

Chrysalis wrote: »

Everything that is wrong with today's world.

Housing should be built to house people, not for financial gain.

For reference, I do not charge as much as possible for services I sell. I also dont charge people more year on year for the sake of it, its closely tied to my costs. Increasing rents when often the main cost (the mortgage) is going down is hardly moral. I think its even worse when there is no mortgage meaning ongoing costs for the owner are minimal.

Mortgages are cheaper than private renting, a lot of the time. But the rental market exists because it tends to be people who either dont have means to get a mortage (lack of secure income etc.) or people who want more flexibility which comes with renting. There is only demand for private rental because of a critical shortage of social properties.

As an example my sister pays less mortgage for her 3 bed house than I pay in rent for my 1 bed flat.

In other european countries, you would be in for one hell of a shock.

No equivalent to section 21
Rents regulated
Long term tenancy agreements the norm (several years in length).

The UK is somewhat an oddity with how favourable it is to landlords, presumably because we have an addiction to house ownership here.

There is a reason why so many people want to let out, its easy money if done right.

Perhaps living in China or Cuba would be more to your liking.

Dird

deannatrois wrote: »

I lived in a very average 3 bed terrace with lots of problems

Good for you but I was replying about OPs situation. I doubt a terrace costs £1300-£1500/month and comes with your own personal chimney sweeper. So the other person's arguments about having concern about tax credits shouldn't apply because if they get so much that they can afford £1k/month rent then their entitlement should be reduced anyway