Well raise my rent!

Bf109

Letter from the LL today saying as our existing contract expires on the 5th July he wants to raise the rent from £685pcm to £750pcm

By my calculation that an 8.7% rise. Is it not the case that a LL cannot increase rent by more than 5% per annum? Or did I dream this somewhere?

lil_me

If you're in Scotland http://scotland.shelter.org.uk/advice/advice-2517.cfm

If you're in England http://england.shelter.org.uk/advice/advice-5734.cfm

carolt

Yes, you did.

He can raise it by whatever he likes. You have 3 options.

1. Leave.
2. Pay up.
3. Negotiate a lower rent, if the proposed hike seems unreasonable compared to what else is on the market. I have renegotiated rent downwards and know many who have - if you are a good, reliable tenant, it is in the landlord's interest to keep you there, rather than face a possible void and possibly a worse tenant.

Good luck.

alwaysonthego_2

don't forget he could give you notice to quit and give no reason

real1314

Bf109 wrote: »

Letter from the LL today saying as our existing contract expires on the 5th July he wants to raise the rent from £685pcm to £750pcm

By my calculation that an 8.7% rise. Is it not the case that a LL cannot increase rent by more than 5% per annum? Or did I dream this somewhere?

How long have you been there and hs the rent always been £685?

teabelly

What are other similar properties renting for locally? If they are the same as you already pay then your current LL may not get far if you do move out. I assume a decent mortgage rate has just come to an end and he is wanting to recoup some of the difference.

It is ultimately your choice. Negotiate a discount, pay the new price or find somewhere else.

PasturesNew

Apart from the emotive side of things, you need to ask yourself:

- have I got the necessary deposit to put down on a new place and say £300 in moving costs (new credit checks at another agency + petrol/van to move)
- what is so great about that house?
- what else can you get/better than what you've got?

By moving into another property at the same rent, you'd recoup all your costs in 4-6 months.

From the landlord's perspective, if you leave he will have to pay the agency another finder's fee to find another tenant.

If it's empty one month he's lost your £685, which will take him 10.5 months to catch up. If it's empty for two months ... doesn't bear thinking about does it!

So with just one month's void and the agent fee, his next tenant would have to stay there a full year for him to break even. You might like to mention this when you speak to him to let him know you're considering your options....

Maybe offer him £700 (2.5%, somewhere in line with inflation)

Bf109

Well I guess its pay up or f**k off then.

To be fair, £750 isnt exorbitant for the area but it comes as a 9% rise this year on the back of a 5% rise last year, so we arent best pleased.

Pasturesnew, you make a very good point wrt the LL taking 10-odd months to recoup the cost of a one month void.

TBH, theres nothing so special about the place. Its a better layout than most one-bed flats in the area but it is spitting distance from the Windsor & Reading mainline rail from waterloo - 12 screeching clattering trains per hour off peak. And it has no through breeze making it hot in summer. And a north-facing aspect.

In fact, its crap.

We're just too lazy to be dealing with moving I guess!

Gorgeous_George

The LL may agree a lower increase but he shouldn't waive it comletely. If he does, the risk of the tenant moving out be even greater next year when the increase needs to be 10%+.

Time to negotiate.

GG

Bf109

Its not even conveniet for commuting anymore..... although I'll miss the swans on the river....

clutton_2

sonds like you have convinced yourself to move !