How much to raise rent?

LilacPixie

IMO 10% sounds alot. If you need to increase it this much to cover yiour overheads then fair enough but if you don't i would seriously reconsider.

I am not a landlord or a tenant (unless you consider me to be a tenant of my mortgage company) but at the moment a 10% increase in my mortgage along with the substansial increases in council tax, gas, electricity, petrol and food would literally be the diffrence between being in a semi comfortable position at the end of the month and starting to live month to month.

Innys

Pygmymonkey wrote: »

If you ask peoples opinions why are you abusing them when they say their piece? I'm assuming you wanted the views of tennets and landlords alike?
Why get nasty when people spend their time and effort to give you their views (as you requested)???

Hmmm.....who was it who first got nasty/abusive with:

"I would be out of there in a shot and probably slash your tyres to boot.... You're probably the sort of landlord that doesn't give deposits back and make up lies for reasons which can't be argued against in the small claims court"

...I wonder.

Do you think that was really called for on the basis of my first three posts?

And, yes, I do appreciate the views of landlords and tenants alike.

Snooze, while I have come on here for opinions, it doesn't mean I have to agree with them. If only started this thread so that I could be "told what I wanted to hear", as you suggest, I would have ignored the comments and asked for £1,800, wouldn't I?

If I don't agree with someone I don't feel their comments are abuse - why would I? Everyone is entitled to their opinion. However, with Pygmymonkey's first post, I felt it was totally unwarranted and will defend myself if I feel someone has stepped over the line which was the case, in my opinion. In addition, I had not used the word "abuse" anywhere in any of my posts - until Pygmymonkey forced me to just now.

If you feel me explaining the reasons for my decision is, in fact me responding to perceived "abuse", that's your problem, not mine

Bungarm, I will e-mail the council and establish whether or not it is a HMO.

Finally, for the record, I have been a tenant too. The landlord I had fleeced me for the deposit when I left after one year and gave me diddly squat back for no good reason. So I know what it feels like to have a lousy landlord and am determined not to be one.

However, I am not going to be a soft touch to my tenants either - why should I?

Snooze

Innys wrote: »

Finally, for the record, I have been a tenant too. The landlord I had fleeced me for the deposit when I left after one year and gave me diddly squat back for no good reason. So I know what it feels like to have a lousy landlord and am determined not to be one.

However, I am not going to be a soft touch to my tenants either - why should I?

Okay. Good luck in finding replacements then.

Rob

ali-t

innys, someone on a different thread has put a link to how much the council would pay out in rent for a property going by postcode. Although yours sounds expensive to me, it may be market value where you are. Going by the website I am grossly undercharging my tenant.

neverdespairgirl

Innys wrote: »

On Rightmove, there is only one property with the correct first four letters of the postcode e.g. SW19. That is a three bedroom house charging £1,775 a month. On Findaproperty there are four three bedroom houses within 10 minutes walk of mine ranging from £2,058 right down to £1,746, a month.

Looking on RM, I can see in SW19 the following 4 bed + places:

http://www.rightmove.co.uk/viewdetails-17960035.rsp?pa_n=1&tr_t=rent £346 per week

http://www.rightmove.co.uk/viewdetails-20783294.rsp?pa_n=1&tr_t=rent £346 per week

http://www.rightmove.co.uk/viewdetails-17897263.rsp?pa_n=1&tr_t=rent £369 per week

http://www.rightmove.co.uk/viewdetails-9970281.rsp?pa_n=1&tr_t=rent £1.5k per month

http://www.rightmove.co.uk/viewdetails-17736403.rsp?pa_n=1&tr_t=rent £1.6k per month

http://www.rightmove.co.uk/viewdetails-21250943.rsp?pa_n=1&tr_t=rent £1.6k per month

In fact, there seem to be 3 pages of 4 bed+ on for less than yours?

bandraoi

Gumtree.co.uk is a much better guide to landlord rented houses in London. (ie the non-agency ones)

http://www.gumtree.com/cgi-bin/list_postings.pl?posting_cat=106&search_terms=sw19&min_price=&max_price=&house_type_2=Y

Houses being rented under a new lease are usually deep cleaned and often freshly done up and with a few new pieces of furniture. When you first take out a lease you pay a bit of a premium for this.

If you take care of the house, pay your rent on time, and don't hassle the landlord you typically expect a discount on new lease rates. This usually takes the form of non-existent/low rent rises. After two years I would expect to be paying about 5-10% below market rates.
By not moving out they've saved you a 2 week void period and the cost of cleaning, painting, replacing furniture etc. ie the normal wear and tear.

I'd go for an increase of £50pcm maybe.

caffenero

RecoveringAlcoholic wrote: »

If my LL tried to be greedy I would stop paying my rent and move out one day before the bailiffs arrived.

im sure you would get a glowing reference for your next LL and pass your credit checks really well :rotfl:

brightonman123

if you have (and want to keep) these good tenants, i would say no more than 3% or whatever current inflation rate is..