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Rent has just gone up :(
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What you need to weigh up is how is it going to cost you to move?Landlord called today - because his fixed rate BTL mortgage is coming to an end, and the new offer is more expensive, he is putting the rent up when our contract renewal comes up.
Rent going from £470 to £550 per month
Cost of removal van, mental cost.
Seems to me that it seems pretty fair price, why should you not help to pay increase in his mortgage, after all he is kind enough to let you stat there.0 -
Can anyone tell them whether it's ok to raise rent during a contractual period.
What stops advertising at one rate and then upping every month in the hope that someone won't move for the sake of £10 extra each month?
Unless it is written into the contract that the rent can be renewed, the rental cannot be increased during a contract. The tenant should also be given notice of an increase.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
That price increase is far to big. If he is going to treat you that badly move, he can do it again. Looks like he is yet another buy to let investor in trouble.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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pickles110564 wrote: »What you need to weigh up is how is it going to cost you to move?
Cost of removal van, mental cost.
Seems to me that it seems pretty fair price, why should you not help to pay increase in his mortgage, after all he is kind enough to let you stat there.
is that a joke?
a van will cost you 50 quid for a day and he is not being kind, they are paying him rent. He should have thought about his mortgage before now and if 550 is a reasonable charge he should have charged it from the start. You are not his cash cow, the price of his mortgage is irrelivant to you a fair rent is all that matters. What if he has completley overpaid for the property, thats not your problem, chances are mortgage repayments will increase year on year for some time, are you expected to cover these, you may as well get a mortgage at least you will own the property and have negotiated your own deal. He sounds like a clown to me, I would find someone more experianced, far to many greedy chancers out their now posing as proffessional landlords all about to come a cropper.
I would definatley check rents in your area for property similar to yours in size and condition, you may find something better or you may find you have been getting a bargin, either way I would be warey or a landlord you doesn't know what he is doing, total liability.0 -
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pickles110564 wrote: »Seems to me that it seems pretty fair price, why should you not help to pay increase in his mortgage, after all he is kind enough to let you stat there.
:rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:
I seriously hope that post was a joke!0 -
thescouselander wrote: »:rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:
I serously hope that post was a joke!
More like a troll.0 -
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A landlord can charge what he likes. If you don't want to pay that much then move. There will be many more putting up prices as mortgage rates increase so you may find moving out it will be just as expensive to rent elsewhere. If they then don't find a tenant then that is their look out and ultimately their business decision. If they fall on their face then too bad for them but don't expect them to necessarily be afraid of taking that risk just because you wouldn't.0
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We would put our rents up quite high if we wanted to get rid of a pain in [EMAIL="the@rse"]the @rse[/EMAIL] tenant, if they were good ones we have left them with no increases in five years.A landlord can charge what he likes.
Like teabelly says LL's can catch a cold by uping rent if there are no takers but they might have other reasons!0
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