To me it’s obvious that T wants to use the fact that LL didn’t do everything by the book to her advantage to pay less rent than asked. It doesn’t look like they’re considering things long-term. We have a clever T like that and we’re currently evicting them (while we can).
2 Likes
Hi David, I’m going to try and negotiate even though he said “non negotiable”. I have a child and won’t just uproot him. Thanks
If you think your 84 year old landlord is difficult and you wish you didn’t have to deal with him, be careful what you wish for!
One day his children will take over, and compared to them you’ll remember him fondly!
5 Likes
You never know. You might be right. I do, however, hope that by then I will be in a position to by a property by then. He’s fit and well. Thanks again all.
1 Like
ab 20 23. I like that reply. I wish I had said that !
2 Likes
How do you know how deep his pockets are? A landlord has made an investment and therefore is entitled to some sort of return on that, he is not a charity. The fact he doesnt have a mortgage is irrelevant.
7 Likes
Retrospective rent increases are still illegal.
We are landlords of 10 years. 2 modern properties.
Being landlords is a people business. Right now lots of people are struggling with the cost of living. I ask myself, would I like to have to pay that rent every month or my children. I remember as a child my dad showing me the £1.50 or £1 10shillings as it was then that he had to put aside weekly for rent. And our first house purchase, £80 per month mortgage payment, subsequently whittled away to insignificance by inflation and 3 pay rises a year with 30% inflation as it was.
If we get a new tenant who is respectable and pays properly we do not increase rent till they’ve been in 3 years, then only by 1 years inflation. I know not all landlords can do this, and who couldn’t always do with an extra £100 or £200 a month. But i think we need to be able to put ourselves in other peoples shoes. Empathy and all that. We had a lady Police Officer and daughter in one of our houses. She had to move back home into her parents place because she could no longer afford the increased cost of living
That’s how bad it is out there.
11 Likes
Does the increase reflect market rates? If it does pay up or give notice and move somewhere more affordable. Dont play games you risk a section 21
Everything else is irrelevant
I know because he’s someone my step ex-father in law lmao. Do you guys need/want my whole life story. I shall not reply to any more comments though now. I think we’ve exhausted this now.
By your own admission your rent is below market rates and difficult to find comparables online.
Do you really want to be forced to look for new accommodation in the current hot market?
He sounds like a responsible landlord yet you want to try to manipulate him with his lack of protocol to save a few pounds on one month, not a good attitude IMHO.
We have a tenant who argued black was white over the timing of our rent increase simply because we original gave a 6-month discount on the rent as an incentive, and when the rent reverted to the full amount, she considered this an increase and refused any increases until one year hence. In the interest of peaceful relationships, I told my agent to let her have her way. Guess what, she’s now given notice to quit one month before the due rent increase date.
We even bent our rules to allow her small dog, repaired her water heater and shower promptly, and she pays us back in this manner. So, forgive me for saying this, but I hope her new landlord is not so accommodating, as she deserves all she gets. In this life you get back what you give out…!
4 Likes
Unfortunately in this day and age lack of rental properties is fuelling increases and sometimes it’s the better the devil you know as your next landlord could be right on the ball !
The only question should be: what is the market rent? If the increase is to market rent or less, you’ll have to pay it eventually, so playing games will not do you any favours in the long run.
Also, you don’t know what the landlord’s personal circumstances are or how deep his pockets are. He may need the money to live.
For example , my Mum is in her 80s with 2 mortgage-free rental properties, but, believe me, she needs every penny of that rent to pay her care home fees! They go up every year without fail because their costs go up - there is no negotiating with them.
And, anyway, his personal circumstances are irrelevant. Just because he’s 84 doesn’t mean he should subsidise his tenants - he’s not running a charity.
If I had a tenant who tried to take advantage of a mistake on a form to delay a rent increase, I’d be increasing their rent to market rent with a carefully checked form on the dot every 12 months out of principle, so, be careful! (And before you judge me as a greedy landlord, I haven’t increased my rents on the tenancies started within the last 3-4 years yet because of COVID and the cost of living crisis - my choice because I have good tenants).
5 Likes
I think tell him you’re struggling with the jump, but you love his house and want to stay in it, so you’ll make it work.
Maybe tell him you hope you’ve proved yourself to be a trustworthy steward of one of his biggest assets.
And then I suggest you meet every one of his reasonable requests or you’ll be looking for a new property in a bonkers rental market.
If he starts being unreasonable then you can start thinking of shrewd ways round?
Good luck!
1 Like
Well said Karen 14. I don’t agree with the idea that landlords should always seek to get rents at the current market level. I also think that it is relevant whether or not a property is mortgaged. I let a flat in London zone 2, new 24 month tenancy with flat sharers in their 20’s started in October last year at around £400 pm below market level, no rent review clause. I was shocked and depressed by the stampede from potential tenants, I had to withdraw the ad after 2 hours on a weekday afternoon. I’m retired, no mortgage. Perfectly happy with the income that generates but I can understand why landlords with mortgages might need to increase the rent to market levels. I think market levels in London are too high relative to incomes and the younger generation is getting screwed. In case this all sounds a bit self-righteous, believe me I’m no saint.
3 Likes
Disagree totally. It is nothing more than a business. LL could have several properties some with and without mortgages. Using your principle the whole financial picture would need taking into account.
A landlord who has paid off mortgage should not be financially penalised for it.
6 Likes
I too charge much below the rate for the area and I’m going to increase the rent next year ( haven’t done it for 3 years) by 7%.
I don’t have a mortgage on the property but insurance has gone up a lot this year.
Rather than repair a roof I have completely renewed it, rather than repair a boiler I have renewed it. This is to save workmen attending the property as my tenant doesn’t like people coming in. I have spent more this year than I have earned.
I also intend to borrow some money on the property to help my own children out with deposits.
Just because he doesn’t have a mortgage it’s no reason for him not to put up your rent, you don’t know his circumstances.
If you like the house, he keeps it in good order and the rent is cheaper than others in the area you should count yourself lucky, some people would love to be in your situation.
4 Likes
As a rule of thumb I charge about 5% below the average what agents and private Ll are getting
Better to have a tenant who can afford the rent than one who is struggling?
Must admit up till 5years ago I self managed and I had a spate of tenants with chips on there shoulders ! Quite aggressive in cases so I spoke to a local agent and he got me what I was looking for after his fee ! And I think you get tenants who are more serious and pay a bit more from agents for protection etc
1 Like
I take your point Mark but I’m not penalising myself, I rented out the property below market level because I wanted to and could afford to. I’m not saying that not having a mortgage is relevant to tenants but it was relevant to me when setting the rent. I’m just saying that with London’s astronomic market rental levels, it can be perfectly reasonable to rent at below market level.
2 Likes
My sons are gradually taking over our portfolio and saying I have been to soft on our long standing tenants, I tell them that a happy tenant who is never difficult, pays the rent and looks after the property is worth their weight in gold. Far better to keep the rent affordable than having to swap tenants every year and get void periods.
5 Likes