Landlord Has Increased Rent!!!

dawny75

Hi, we received a letter from our estate agent yesterday with a new tenancy contract and 'bad news' as the landlord is increasing the rent by £25 pcm.  We have been in the property 8 years and never missed a payment.  I contacted the estate agent to say whilst in normal circumstances the rent increase would be agreeable but during these uncertain times we are hurt by it and could it not be put on hold for a while. Their reply was 'yes the timing isn't brilliant - sorry about that. However he can see that the rent is now way behind market value and he doesn't want to have it fall further behind over another 12 months'  We have signed the agreement for another 12 months as we don't want to move during a pandemic but I would really love to tell him to shove it!! I'm just ranting I suppose but does anyone have any thoughts?  Thanks

justwhat

If its below or comparable to other rents in area not much you can do.

dawny75

I suppose it's just the timing of it...

[Deleted User]

I suspect the rent agreed now is way ABOVE what the market rates will be in 3 months.

Jeremy535897

It is insensitive, but if it is true that the rent was "way below market value" it presumably is still under market value. At least you have some certainty for 12 months. Most tenancies roll over monthly after the first six months, although no fault evictions are now stopped. 

diggingdude

Your time to say shove it was before you signed agreeing to the payments. Had you refused to sign contract would have switched to month to month and it would have taken likely 6 months to get you out regardless

onwards&upwards

It’s a shame you’ve signed and returned it as you did have other options but at least you have a secure home for 12 months. 

mattyprice4004

Sounds fair if it was below average - landlords have to make a living too; it’s likely they’re going to be hit by plummeting house prices when they come to sell etc.

unfortunately just a risk of renting