Rent Increase

qwert_yuiop wrote: »

Goodness me. Mortgages are still at generational lows, a whopping £40, but let’s milk the tenants in your little empire to ensure you don’t suffer any reversal? Can’t have that.

Seriously?

Get off the guys back. You've no idea what the rent is he's charging currently relative to market prices or how good the property is or what cost pressures he's up against and he certainly doesnt have to justify why he's doing it to you or get your approval.

qwert_yuiop wrote: »

Aye seriously. Heaven forfend he’d suck up the increases himself rather than making his tenants sweat. Hardly the forum for “how to make those poorer than me take the rap” tips, is it?

Maybe he has been doing that but needs to now cover further incremental costs?

And how do you know his tenant is poorer than him?

qwert_yuiop wrote: »

Well unless he’s running properties as an act of charity to the less fortunate, which would be very commendable.
I don’t really see how a money savers’ website is an appropriate forum for seeking advice on how to squeeze people as an entitled member of the rentier class.

I do have to accept he may well be poorer than his tenants. The last property I rented, the eejit landlord had overreached himself to an extreme level in some madcap get rich quickn scheme during the bubble. He eventually went bust of course after trying forlornly to make us pay more rent - don’t look at me, man, not my problem. It was great - it was almost a year before we got a rent bill.

Perhaps his tenants are on housing benefit, so he’s only ripping off the state? Since that would be just your taxes heading his direction, you probably wouldn’t mind.

How do you know hes wanting to make even more profit off his tenant? Whos to say hes making profit at all? It could well be - as the O/P has actually already told us in fact - that there are now costs that he can no longer absorb and needs to increase the rent. Have you considered how this may simply be to break even, rather than to make even more profit, which you've assumed?

Nor do you know what the rent currently is, what near future costs the O/P may be seeing, what that rent is relative to the marketplace currently or how well finished the property is in terms of VFM.

You're making a massive amount of assumptions and throwing an awful lot of vitriol at the O/P based on those assumptions.

Werent we told at one point on this forum how renters were actually the smart and often wealthy ones who were actually canny savers and that property owners were the fools?

Seems odd that you've assumed they're all poor and oppressed....

Old_Git wrote: »

Question for tenants and landlords in Northern Ireland.
How often do you or your landlord increase the rent ,and by how much.

Leaving aside qwert yuiop's anti-landlord rant, I'll reply to the OP and say that I don't raise the rent in my rental property; the previous tenant was in for 10+ years and the rent remained unchanged - this was due to a combination of:

(a) the typical rent for the area only rising about 15% in that period
(b) the tenant sorting out several minor repair jobs themselves, and only mentioning it in passing at later dates

So I was happy to keep a good tenant on a lower rent - they only left when they inherited a property due to the death of a parent.

The current tenant is planning to be a long-term tenant (a distant relative who was looking to rent), so again I'm happy to leave the rent unchanged in the knowledge they'll help to look after the place.