Landlord Imposes Rent Increase on 12 Month Anniversary

anselld

GDB2222 said:

anselld said:

The next release date is Wednesday so you could wait and see.  It might go against you though so you could just accept a fairly big win now from where you started.

That will be the January RPI, not February.

Yes.  However the rent review date is Feb so it will be the most current data available at that time.

Jay_C

anselld said:

GDB2222 said:

anselld said:

The next release date is Wednesday so you could wait and see.  It might go against you though so you could just accept a fairly big win now from where you started.

That will be the January RPI, not February.

Yes.  However the rent review date is Feb so it will be the most current data available at that time.

Rent review date is anniversary date of tenancy, which is end of February, does this mean tomorrow's data vs the next released date of data?

It seems like it is likely to increase from current data of 5.2%

Jay_C

Hi all, it is that time of year again where landlord via agent has requested for a rent increase, which I attach wording below, have they sent this too early again and should I go back and state that, refusing their addendum to sign?

In accordance with the tenancy agreement the landlord will be implementing an increase in rent in alignment with current RPI this equates to an increase of 3.4% based on latest figures.

The increase will take effect as of 24.02.2025, you do not need to do anything as the direct debit will be adjusted accordingly.

anselld

I imagine the advice will be exactly the same as last year.  It might help if you told us what the final outcome was last year.

saajan_12

What happened last year, ie did you use the Jan or Feb cut? 

However same advice - its early to discuss now per the contract, you can ignore / stall and take whatever the latest RPI increase post the anniversary date. Or if you're feeling gambley, you can consider whether you think inflation will go up or down and lock in the increase now. Effectively that's a mutual renegotiation. 

Jay_C

Thank you for the replies, the agreed amount in the end was 5% factoring the February data. I will wait to see what tomorrow's data comes out at and perhaps assess from there

Jay_C

Hi all, I am trying to find the latest data for RPI on the ONS it seems to state December 2024, is there not a January and Feb figure out that I can check it vs the below offered to kick in from end of the month

In accordance with the tenancy agreement the landlord will be implementing an increase in rent in alignment with current RPI this equates to an increase of 3.4% based on latest figures.

The increase will take effect as of 24.02.2025, you do not need to do anything as the direct debit will be adjusted accordingly.

saajan_12

Jay_C said:

Hi all, I am trying to find the latest data for RPI on the ONS it seems to state December 2024, is there not a January and Feb figure out that I can check it vs the below offered to kick in from end of the month

In accordance with the tenancy agreement the landlord will be implementing an increase in rent in alignment with current RPI this equates to an increase of 3.4% based on latest figures.

The increase will take effect as of 24.02.2025, you do not need to do anything as the direct debit will be adjusted accordingly.

Patience..
Inflation is calculated based on prices during that month, with a couple of weeks to collate and calculate before its published ~mid the following month. So currently the latest available is Dec24. Jan25 figures will be released on 19-Feb25. Feb figures aren't relevant yet as the month isn't even over. 

That's why there's usually a lag ie contracts refer to the inflation x months prior. 

Jay_C

saajan_12 said:

Jay_C said:

Hi all, I am trying to find the latest data for RPI on the ONS it seems to state December 2024, is there not a January and Feb figure out that I can check it vs the below offered to kick in from end of the month

In accordance with the tenancy agreement the landlord will be implementing an increase in rent in alignment with current RPI this equates to an increase of 3.4% based on latest figures.

The increase will take effect as of 24.02.2025, you do not need to do anything as the direct debit will be adjusted accordingly.

Patience..
Inflation is calculated based on prices during that month, with a couple of weeks to collate and calculate before its published ~mid the following month. So currently the latest available is Dec24. Jan25 figures will be released on 19-Feb25. Feb figures aren't relevant yet as the month isn't even over. 

That's why there's usually a lag ie contracts refer to the inflation x months prior. 

Ahh ok that makes sense thank you, have put a reminder in to check in 2 days, hopefully it comes in lower. Thank you