Dear Openrent Community,
I’m troubled by a recent experience with my landlord and Openrent, and I feel the need to share it with you.
In August 2020, my family rented a home through Openrent, accepting a 14% rent increase in October 2022. However, last month, we received a no-fault eviction notice from the landlord through Openrent, as they admitted it was to increase profits. The house is now advertised again on Openrent with a 25% increase from just eight months ago and a staggering 43% higher than the initial price three years ago.
Despite reaching out to Openrent for help, they simply referred to the contract terms, showing little concern for the situation my family now faces.
While I understand the potential legality, I can’t help but find this situation deeply unfair and distressing. I kindly urge Openrent to reevaluate its position and explore ways to discourage such exploitative actions.
Thank you for reading my message.
open rent only advertise to bring tenants and landlords together. They cannot determine rents . > supply and demand determines rents
As Colin says. This is a side effect of government making it harder and harder on landlords. More and more are leaving the market due to increase in costs, tougher legislation and the rental reform bill. This pushes up rents.
Mortgages and other landlord costs have gone up by a similar or higher percentage. My own mortgages are about to increase from £300 a month to £1200 a month! Whilst I agree with you that its not good practice to seek to evict a tenant in this way, we dont know this landlords circumstances and they may feel they have no choice. I’m sorry that you and many other tenants are in this situation, but despite what the media and pressure groups would have you believe, the fault is not all with landlords.
It’s got nothing to do with OpenRent, if you have complaints you should target the landlord. OpenRent have zero involvement in the amount of rent charged, etc.
Have you not been watching the news recently ?
Please note since last year interest rates have gone
up by so much and many landlords mortgages goes up straight way because of tracker/variable rates.
Landlords have to increase the rent again to cover their
all different costs too.
Also as again Collin said that it supply and demand which determines the rent too.
So many landlords are selling rental properties and because of of so many laws to protect tenants but not equally to protects landlords.
If the tenants are good then they do have understanding about how difficult it’s for landlords.
FYI, this message is labeled as “Tenant Discussion.”
While some landlords may encounter challenges due to government regulations and higher interest rates, it’s crucial to acknowledge the impact on tenants as well. A 43% rent increase over three years can be incredibly difficult for families to bear and may lead to concerning situations. Additionally, it’s important to consider that some landlords have fixed-rate mortgages, which means their costs remain stable while they exploit the situation by implementing significant rent increases. This can create undue financial strain on tenants who haven’t seen their income increase as much…
A reputable rental agency would not support or facilitate evictions for the sole purpose of increasing rent excessively. Openrent does.
If a rent is able to be increased by such an amount it was too low to begin with, or rent has not increased for many years. The market dictates rent value.
Cases need judging individually, without knowing the LL circumstances it’s simply guesswork. What we do know is that some landlords mortgages are quadrupling as their fixed term ends.
All agents will facilitate evictions as deemed necessary. Do you believe an agent will disregard landlord instructions in this regard? Agents will actively encourage rent increases as they get a higher commission as they typically work on a percentage.
Openrent do not manage properties, they are not a typical letting agency.
Wikipedia: “OpenRent is an online letting agent and property service provider, founded in 2012. It is a UK-based startup company focused on technological solutions to property rentals.”
Decent agencies have a reputation to defend. Openrent doesn’t and Openrent fails to protect tenants.
Again openrent does not manage properties. It is simply a marketing tool for landlords, but with a few extra services such as rent collection.
Who decides what is an acceptable figure to increase rent? It is not an agents position to dictate to the landlord what he does with his business.
Technology and data analytics have significantly improved the ability to gather statistics and evaluate market values in the real estate industry. Online platforms and websites that list properties often utilise sophisticated algorithms and historical data to determine market trends, property values, and rent prices. When a property is listed twice in three years with a 43% rent increase, it is easy for Openrent to identify an instance of rent gouging or unfair practices.
As an online rental platform, OpenRent has a responsibility to ensure that their services are used ethically. This includes taking measures to prevent any form of abuse or exploitation by landlords using their platform.
This cannot replace assessment of individual circumstances. It would be “averages” and would not be accurate and could not be relied upon.
If a property is listed twice in a year and the rent doubles so what? It could be to totally wrong to begin with. It means nothing without knowing the ins and out of it.
Regardless, all agents have zero authority in preventing what the business owner does with their business. Ethical policing?…. not in this lifetime….
Is it ethical that the BOE base rate has gone berserk and forcing owners to sell?
Please explain how this can be determined without knowing the personal financial circumstances of landlord?
What constitutes abuse? Market value is market value.
A business must be viable.
It is not a question of authority or power over landlords. Instead, it refers to agents’ moral obligation to conduct their operations in a way that promotes fairness, transparency, and respect for the rights and well-being of tenants and landlords alike.
I know the property was not undervalued initially, and Openrent’s analytics could surely demonstrate it too…
Irrespective the market has changed.
You can match the rent or move on. That is the precarious position of all renters.
Let’s say landlord fixed term ends forcing big rent increase in order to remain worthwhile for landlord. Is this “ethical”?
Again, this is a tenant discussion and you are an Openrent bot.
Well no tenants can be bothered to reply to you as they know you’re flogging a dead horse with unconsidered ideas
It takes 2 to discuss.
AI bot out
I am not seeking replies (especially from bots/people with affiliations) or engaging in a debate. My purpose in sharing this information is to raise awareness of my experience with a landlord and the rental platform OpenRent. It is essential to address concerns about abusive practices and unfair rent increases.
Mark10 You are wating your time with this person .They are truely miffed and do not understand market supply and demand