Originally published at: How Much Can a Landlord Increase Rent in 2023? | OpenRent Landlord Hub
While there’s no legal cap on how much a private landlord can increase rent, there are still a few things to consider before going ahead with the uptick. Echoing the ONS’ recent findings of a 5.3% average spike in private rental prices, our data shows a yearly average rental boost of 17% across the UK.…
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You REALLY need to check facts about this. Most of what you said does NOT apply in Scotland. Your landlord clients in Scotland could be inadvertently breaking the law if they follow your advice here.
This applies to England only.
Yes Mark, and the article needs to make that clear.
Hello,
Hope someone can advise accordingly.
We have rented our property for 19 years, we maintain all issues and pay for all emergency repairs.
We’ve done lots of renovations and made it our life time family home.
We have a good relationship with our landlord and both parties never mither.
Over the 19 years our landlord has always wanted cash for his rent each month and our arrangement suited both parties.
He’s always kept the rent to a minimum on the understanding we MAINTAIN the house.
He’s now asking for a £500 increase per month but here is the issue, we don’t have a tenancy agreement in place… we only had one for the first year and everything just continued verbally.
The £500 increase we cannot afford on top of paying for emergency and maintenance insurance plans ??
What shall I suggest??
Kind Regards
A tenancy agreement becomes periodic at the end of the original fixed term so you will have a tenancy agreement in place, it just rolls on.
I also offer tenants lower tham market rents where they look after more maintenance than a typical tenant, but there is a limit to how much under market rates is viable from a landlords perspective, and landlords remain legally responsible for maintenance and with renters reform bill increasing responsibilities this sort of arrangement can cause issues.
I think if you are looking after maintenance and have been there 19 years a discount of around 20% below market rates is reasonable so you could offer that. It’s upto landlord though and after 19 years he may just be looking to sell unless he can get a high income.
Thanks Richard.
20% discount is around the amount of what we
Thought would be reasonable for both parties.
I do believe that if he doesn’t get the full increase for sure will want to sell… we do understand however, if this is the case how much notice will he have to give us ??
The notice is 2 months.
Thanks for all your help