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Rent negotiations
littlemissmoney
Posts: 1,219 Forumite
Hi
My rent has stayed the same for the last 3 years. The LA phoned today to say my LL wants to increase it to £650 (from £615). What shall I go back with?
£420 a year extra is a lot. The money saver in me is saying he is just trying it on so I should go back saying it's £615 or I'm leaving.
I'm a good tenant (always pay rent on time, look after the place like it's my own, etc). Looking on the net I'm struggling to work out whether I'm getting a good deal or not.
Any advice?
My rent has stayed the same for the last 3 years. The LA phoned today to say my LL wants to increase it to £650 (from £615). What shall I go back with?
£420 a year extra is a lot. The money saver in me is saying he is just trying it on so I should go back saying it's £615 or I'm leaving.
I'm a good tenant (always pay rent on time, look after the place like it's my own, etc). Looking on the net I'm struggling to work out whether I'm getting a good deal or not.
Any advice?
Proud to be a MoneySaver! 0
Comments
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First action I think is to find out how much the rent is for similar places in your area...0
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It is up to you. If you want to save, you can make an offer, if it is refused then you have the right to leave and find elsewhere.Don't lie, thieve, cheat or steal. The Government do not like the competition.
The Lord Giveth and the Government Taketh Away.
I'm sorry, I don't apologise. That's just the way I am. Homer (Simpson)0 -
My gut reaction is that if you were paying £615 three years ago (and thought that was a good deal) then £650 would definitely be a good deal today... I've never lived anywhere (on an AST) where the rent didn't increase by £10-20 a year.Wins for 2009: Nada, Zip, Zilch
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5% is the generally agreed maximum increase Landlord can do. (If you go to a rent tribunal 5% is what they work off I beleive.) So the extra £35 is about right.
Given that inflation is running at 4%+ p/a it seems reasonable.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
5% is the generally agreed maximum increase Landlord can do. (If you go to a rent tribunal 5% is what they work off I beleive.) So the extra £35 is about right.
Given that inflation is running at 4%+ p/a it seems reasonable.
But is that 5% a year?
If it was, the rent could be in the region of £712.
Is this correct?If you are at a poker game and you cannot figure out who is the patsy then guess what...you're the patsy - Warren Buffet0 -
I've just found an identical flat to mine in the same block, even same floor, for £100 a month less :eek: To make matters worse, the other one even has a car parking space and mine doesn't :eek: :eek: :eek: Proud to be a MoneySaver! 0
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Well then it will only be a short move!:whistle:0
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It has already been let unfortunatly, else I would have moved! I'm not paying a rent increase now though!
Should I ask for a rent reduction???? Proud to be a MoneySaver! 0 -
littlemissmoney wrote: »It has already been let unfortunatly, else I would have moved! I'm not paying a rent increase now though!
Should I ask for a rent reduction????
Well that might be a bit contenscious considering they want to up it!
Ask them if they have email. email them the link of the property you describe and tell them that in consideration if that, the rent increase, you feel, would be unacceptable. I should think they will agree. I doubt they are 'professional' if they can't look at comparables themselves. You'd be a bit of an idiot to ask, for the exact reason that you have just found similar, cheaper.
I'd continue to keep an eye out for cheaper properties
(Good Lord, they are sawing a real dead person's leg off on Channel 4)Everything that is supposed to be in heaven is already here on earth.
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Email sent, including link. Thanks all
Will keep you updated.
I'm starting to think I've been ripped off for 3 years... Proud to be a MoneySaver! 0
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