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Looking to increase rent - Landlord Help!
Joel_Goodsen
Posts: 33 Forumite
Hi everyone
I am a landlord and looking to increase rent.
Before I get 'THE GREEDY LOOK', I haven't increased the rent since the tenant has been in the house, which is a whopping 8 years.
The tenancy was a 6 month assured shorthold tenancy which is now 8 years old.
How do I go about proposing a rent increase legally and correctly please?
Do I have to send a certain form or will a letter do?
Thank You for any help.
I am a landlord and looking to increase rent.
Before I get 'THE GREEDY LOOK', I haven't increased the rent since the tenant has been in the house, which is a whopping 8 years.
The tenancy was a 6 month assured shorthold tenancy which is now 8 years old.
How do I go about proposing a rent increase legally and correctly please?
Do I have to send a certain form or will a letter do?
Thank You for any help.
0
Comments
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Joel_Goodsen wrote: »Hi everyone
I am a landlord and looking to increase rent.
Before I get 'THE GREEDY LOOK', I haven't increased the rent since the tenant has been in the house, which is a whopping 8 years.
The tenancy was a 6 month assured shorthold tenancy which is now 8 years old.
How do I go about proposing a rent increase legally and correctly please?
Do I have to send a certain form or will a letter do?
Thank You for any help.
Read G_M's Rent Increases: when & how can rent be increased?0 -
Have I read it right in that I need to serve a section 13 notice?0
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The tenancy was a 6 month assured shorthold tenancy which is now 8 years old.
Based on that, is the section 13 notice the way to go?
Just want to be sure0 -
If I have long term tenants I do have a chat with them explaining I need to increase the rent but also tell them what the current market rate is so they know they're still behind this. I then explain I need to follow up the chat with a formal letter that will include a S13.0
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If I have long term tenants I do have a chat with them explaining I need to increase the rent but also tell them what the current market rate is so they know they're still behind this. I then explain I need to follow up the chat with a formal letter that will include a S13.
From the tenants perspective, our LL called to let us know that we were due a "rent review", ten years after moving in - he came round and told us what the market value was now compared to what we were paying. We managed to negotiate the requested amount down and the amount has been fixed for four years (hence my four year deposit saving plan!) This has all been done informally and we havent had anything in writing, which probably isnt the wisest thing but we have a good relationship with him and most of our tenancy has been based on trust thus far
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All views are my own and not the official line of MoneySavingExpert0 -
Rent increase can be by mutual consent.
So a chat over tea and cake (LL brings the cake!) is often more effective than an official s.13 notice (which can be challenged ofcourse too)0 -
Thanks everyone!
I will be having a friendly chat explaining the situation. I am being fair as I am still £25 per month below the average for the same property.
If the tenant refuses, doesn't want to pay the proposed amount or wants to leave, what woud I need to do to give notice? Is there an official form?0 -
Well if they refuse, you decide whether it's worth evicting or not. Given eviction can take 6-8 months, cost a fair whack of cash and leave you with a void period...Joel_Goodsen wrote: »Thanks everyone!
I will be having a friendly chat explaining the situation. I am being fair as I am still £25 per month below the average for the same property.
If the tenant refuses, doesn't want to pay the proposed amount or wants to leave, what woud I need to do to give notice? Is there an official form?
Alternatively if they want to leave, obviously they'll have to give you notice.0 -
Tea and cake and friendly agreement is always the best way to go. If you reach agreement amicably, then follow up with a friendly letter to confirm, enclosing one for them to sign /return so you each have the other's signiture. Be clear about exactly what the new rent will be, and exactly what date it will apply from.
Failing that, as my link explains, it depends what the TA says!
If nothing, and the tenancy is now periodic, then yes, a S13 notice.0 -
The tenant is on Housing Benefit through the council. Not sure if that changes the game and my approach?0
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