Rent has just gone up :(

Bungarm2001

We've put our rents up on most of our properties at every new 12 month AST BUT if it is a renewal, in other words the present tenant is happy with us and we are with them, then we keep the increase very low or not increase the rent at all.

We have just negotiated a rise in rent with tenants that we have had at the same rebnt for 3 years..they are still paying way under the local rates but we are happy to go the loss since they are such good tenants.

Maybe your LL would be open to negotiation? It's always worth a try. Find out what other local rates are for similar properties, and if they are lower than the raise he is proposing you'll have something to work on.

NO LL in their right minds would want to lose a good tenant by trying it on with massive rent rises, but as others have said, he seems like a bit of an amateur. No self respecting experienced LL would ever mention that the he needed the extra to cover his BTL mortgage increased payments!! Blimey, that would put ANYONE'S back up being told that! :eek:

Take a deep breath and have a go at negotiating this..it sounds like you want to stay there, and besides, unless you do a bit of research you may well find that you'll be paying that much anyway somewhere else.

powder_blue_sky

I had a look today and was shocked to see that a house near to the one I rented last year is almost double the rent. The houses were almost identical.:eek:

Pez2

Rents are set at the level the local market can bear, not at the level that the landlord happens to need to meet his mortgage payments. If £550 is a comparable price to what other similar properties in your area rent for then unless you can prevail upon your landlord's generosity that is what you will have to pay. If £550 is a lot more than what other properties are going for then you need to try and negotiate the price down and if that doesn't work you may have to move to one of those other properties.

cells

beingjdc wrote: »

No, rents go up in a crash. When prices fall, fewer people want to own (so fewer landlords) and more people want to rent (so more tenants).

you fail at basic math!

carolt

powder_blue_sky wrote: »

I had a look today and was shocked to see that a house near to the one I rented last year is almost double the rent. The houses were almost identical.:eek:

Was it let?

confused31_2

This is my first post, but the way i see it all these people who have jumped on the buy to let market are struggling with the payments for there buy to let mortgages.

Hence they pass it on to the tennant, if the tennant thinks its unfair then they wont pay, simple.

Its like anything, if you thinks its worth the money pay it, if you dont look elsewhere.

confused31

Alias_Omega

if you dont like it, move out..

powder_blue_sky

carolt wrote: »

Was it let?

The house I used to rent has been let I think. We left because the landlord was quite greedy. It seems other landlords in that vicinity are greedy too.

daisykinn1

I've never had my rent increase so if my landlord suddenly wanted to smack an eighty pound increase I would most certainly move.

DGJsaver

Alias_Omega wrote: »

if you dont like it, move out..

!!!!!! alert