Who else here charges a little below the market rate and also, like me, only ups the rent every few years?
I charge a little above ( but they are furnished and C rated with a higher spec ) and now increase every year
Solicitors have advised to increase rents yearly and before RRB comes in
RRB will introduce soft rent control by the nature of its design and will only allow increase yearly on the anniversary of the tenancy
All increases can be taken by taken to tribunal and if allowed are only effective from the date of the tribunal ( which depends on their waiting times)
I have increased every house this year so I’m not caught out by RRB
Not an advisable strategy. Below market rent can attract people who then get stuck because they cant afford to move. Only increasing the rent every few years often leads to resentment from tenants who come to expect the rent will always stay the same. It can also mean large increases that are more difficult to budget for.
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I normally would start at market rates and then rent increases would depend on tenants. If they proactively look after place, always pay on time, provide access to tradespeople etc then i havent increased in first 5 years and then review annually thereafter normally in line with average annual wages increases. With RRB i will probably increase sooner going forwards.
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I increase every couple of years and keep rents BMV for my tenants because they are all exceptional: trustworthy, report issues immediately, great with the neighbours, keep the place spotless and I have great rapport with them. This is worth far more to me in the long term than keeping rent at market value and having to take a punt on someone new.
Particularly with RRB coming in I need tenants exactly like this, not complete unknowns every few years. I’m in it for at least another decade and that’s why I want to keep them sweet.
I also have zero mortgages and other sources of income so that is part of my equation.
[Edited to add that if one of these tenants should leave, I will be reletting at market value as I always have done when I have a vacant property]
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I do, because having long term good tenants with whom I have a very good relationship is worth it. I have increased their rent once in three years, splitting the rate of inflation with them.
I have learned that it is not good to let the rent fall too much behind the market rates. If you wish to catch up, then this is not easy. Tenants do not like large rent increases - quite understandably. Sometimes i let the rent fall about 10% behind market, but that’s the limit.
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I go in at market rate on first signing up
I increase the rent every year to cover inflation or market rate, never miss this otherwise they will resent getting one if you leave it longer
If tenants pay on time, are pleasant to deal with and look after the property i will let it drift up to 10% below market rate
Going off piste here…
[Regrettably dont see a good future for the private landlord anymore without section 21, currently selling off and dealing with evictions is unpleasant. Never factored in the capital gains tax on house inflation, the disposal costs, the house empty costs]
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that’s not been my experience at all. In fact, I’ve had some say thanks for not raising it every year
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Everyone has a different take and experience, the idea is the person who posts gets a spread of thoughts and makes their own way
… which is exactly why I posted my response to you 
Best to Respond to the person who posts, they are asking for the advice
As you said
I’m not sure they’re interested in a spread of thoughts on advice about how to use a forum though. 
Grow up. People respond to posts. That’s how a forum works.
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