Hi I have a 3 bed mid terraced house which is on a short hold tenancy.
My tenant pays £500 pcm.
However I noticed that the average rent in the area is now around £700 to £850 for similar type properties.
My question is how much can I increase the rent by this coming January?
Thanks for any advice
When I was lazy in increasing my rent annually I agreed with tenant that I would stagger the increase to market value over a few years. This kept a good tenant.
You can increase to what you like (if AST doesn’t prevent it) but a hike above market value can be contested.
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Wow! Sorry to say, but at £500 for a 3 bed house, you really have fallen down on the job. There is no legal limit to an increase, but good luck persuading them to cough up a 70% increase. You may be forced to evict if you want the full amount.
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