I believe rent can increase each year unless there is a rent break clause in your contract. One full months notice is required the day before your rent payment day. If you are on a periodic it can be increased on the next rent payment date. A section 13 although official doesn’t giv anymore information than a letter probably does, but why make it difficult for your relationship with your landlord when the increase seems reasonable. You don’t know the condition of other properties where seek prices (although this gives a good basis), and what or isn’t included. For instance some of mine include, gardeners, window cleaning and all integrated appliances, curtains, blinds etc (this saving tenants initial set up costs for these things). some landlords include none of the above apart from a cooker, this could have a marginal affect on rent prices, as could epc’s due to the outlay by some landlords to fit solar panels, saving tenants day to day running costs.
How do you know what your landlords circumstances are financially with or without a mortgage. He could be dying and needing private chemo or such like, I’ve known a situation like this.
Sounds to me the increase is reasonable. Why not try and negotiate with your landlord and keep good relationships rather than be difficult. It really helps when landlords are choosing which properties to sell when they start to think or reducing their portfolios.
I agree, I’ve had some with chips on their shoulders in the past (sorry, but all men) who started to give me anxiety, which really saddened me when I’d me a very generous landlord, compliant to the T and improved constantly the properties they lived in (which were already lovely) and dealt with any repairs (however minor) immediately. So much so that I eventually plucked up the courage and served them notice. Long term tenant relationships has to work well for both.
It isn’t law to serve a section 13 to raise rent if an agreed ent can be made between a tenant and a landlord. It needs to be used if you have a tenant who disagrees to an informal agreement, which in your case it seems
Guys- this has now been sorted and resolved with the landlord. Further comments are no longer needed. Thanks***
Just agree and pay him with a smile and say that you. New rent at £700 a month is still average to below Fair Market Value. Why start an argument with him? whats your leverage? you will leave!? And then spend thousands of pounds in moving costs and time off work, months of putting your new home back together. Be kind and also be gracious… he isn’t taking advantage and you don’t know whath is own financial circumstances are morgage free or not, thats not your business.
It took use months to find a home we loved, if you love yours, just the man. I hope my comments take you in a positive direction.
So hang on you state in your original post “Last year he increased it again by £500” you then (at the end of your rant) say " (I pay now £600 but a neighbour opposite told me she pays £650)" so were you previously paying £100? As thats what your post suggests
Youve also stated that houses in your area are usually more expensive than what you are paying and that you have found it hard to find anything on line personally i would accept the ruse and be grateful in this economic climate that yiu have a property and income to pay it
I totally disagree with you with regards to hiking the rent increases just because of market value! The current rental rates exceed what most people pay each month for mortgages.
The sooner the Government realise that good tenants who pay rent on time never default, look after the property for years, should be able to buy a property on a interest free mortgage.
Not all landlords but most are hiking the rent increases where is it not necessary and losing good tenants but I hope soon that Governments and councils will realise there is a niche to be filled and take on board Private Renters which will eventually outlaw private landlords completely and bring more money into their communities and economy - it is not rocket science!
Private renters need security, peace of mind and a future without fear each year that a private landlord can increase the rent to whatever they want!
Private renters regardless are disposable, do not have any security living in a private rental property and are beholding to landlords especially at this critical time - it is a travesty and totally not acceptable!
I hope soon that the “Fall from Grace” will happen sooner rather then later and all private renters will seek help and assistance to stop this madness year after year!
I always thought as long as a landlord is getting a good yield on his returns there is no need for pure GREED!
Hi, there. Funny that you disagree with me, but I actually agree with you. Good tenants certainly need to be encouraged by continually attractive rent. On the other hand, there’s always a possibility that with “not so good” TT any rent increase will result in them stopping paying the rent altogether and living rent-free till eviction enforcement - thousands and thousands lost plus a lot of stress. This is the main leverage for capping the renal price increase. And we know that good TT turn into bad ones easily.
The thing I want to point out is it’s not LL’s responsibility to take care of TT on their terms just to keep them happy. And I completely disagree that TT need security because they already have it with legislation skewed heavily in their favour with very little comeback from the LL. TT just need to know how to play the system, and they save huge money. Some of them come on this forum for advice on how to do just that.
And it’s always a T’s responsibility to rent a place that they can COMFORTABLY afford, taking into account yearly rent increases. I can’t believe how many TT contact us who can hardly afford to pay the rent. Even when we do all the calculations for them and point it out to them, they keep arguing. They like the bigger place, they feel entitled to get it, they feel slighted if they don’t. The fact that they should rather consider a studio, especially being single, doesn’t enter their heads. They think that the rent will always be the same. Entitlement again. What T wants, T should get.
But they don’t. As you said, it is a travesty and totally unacceptable! Amen to that.
Thank you for your reply.
Rent increase’s need to be monitored especially due to the current climate.
A good tenant will of course each year budget each year but not where rent is increased beyond their affordability, It does not make any sense to lose a good tenant for excess profit and the current situation has to change for both parties due to thousands of private renters having never defaulting on rent and through no fault of their own are facing homelessness - something I would not like on my conscious business or not!
I know personally and thankfully that there are many, many good landlords who have benefited from great tenants and have been able to keep their rents in line with tenants affordability each and every year and Amen to them!
Whist I understand and respect that this is a business for most landlords, private renters are realising as I have stated previously there is no security or peace of mind from renting privately so alternatives solutions have to be put in place for their security as this is only fair.
A good tenant is the cornerstone of a successful rental business and one who pays their rent on time, meets the lease rules and takes good care of the property but yet are faced with crippling rent increase, sometimes 5 times the amount is grossly unfair and should not be allowed.
It is basically understanding the needs of both parties and coming to an amicable agreement without causing undue stress and the possibility of facing homelessness!
Hi,
My landlord didn’t budge. I then decided to buy a house and I’m in the process of buying one now. All goes well, I’m hopefully going to move in January or February. My next job is to find out what’s the best way of giving him notice and getting my deposit back (do I need to give him one or 2 months notice? I think one, do I need to get him to sign something that he’s happy with the state of house and going to give me my deposit back? Etc) but a bit too soon for that
great to buy your own place . Always better than renting What annoys me is that a person can be a regular rent payer, but not be able to buy their own place , paying a similar amount of funds
You are absolutely correct. I was in this position a year ago. Luckily although my mortgage will be a little higher than my rent is now due to my age and im buying on my own, I can, just, afford to buy. Wages will hopefully go up next year so will give me some breathing space. I prefer the money going into my own house then my landlord’s pocket. Although he has been good to me with repairs etc, I didn’t like the way he went about increasing my rent this year which what that pushed me to buy a house. I guess I should thank him for it lol.
Congratulations and well done as private renters globally are realising that what they are currently paying for soaring private rents costs each month their better option is to buy their own home.
A lot of banks will provide a mortgage as long as renters have 2 years evidence of paying their rent on time as renters are paying more in rent than they would with a good mortgage rate.
With regard to your notice period if you lease agreement is yearly the notice period is two months or a 6 monthly or rolling contract is one month only.
Good luck with your new chapter and a secure future in your new home.
It’s all very easy to suggest that rents increases should be static or annual capped and LL’s are increasing rents as an element of greed but the LL’s costs have increased appreciably including several increases in mortgage thus reducing the yield considerably. Repairs, replacements and general maintenance are all costing more further eroding yields.
Rents have to increase or it will become financially unviable to offer a rented property to the market or an existing tenant. This will add to the increasing exodus of LL’s leaving the PRS which will obviously impact fuelling a scenario of supply & demand result in an escalation of increased rental pricing.
A diminishing PRS can only place increased pressure on local authorities who have no housing stock to offer people.
Not an easy situation for anybody but I do feel the government should offer incentives to LL’s to remain in the PRS rather than constantly persecute LL’s
Offering incentive to LL is not a populistic move, so it won’t be implemented, unless there is a dire shortage of rental properties, like Thatcher’s time. Government’s hand always needs to be forced by circumstances beyond their control. They don’t care about TT suffering or LL being wronged and will chose in favour of popular vote measures for as long as they can get away with it.
We live in a free market economy and like it or not, rent, like any other commodity, (food, petrol, utilities etc) is subject to price fluctuations based on market conditions. Its pointless arguing against that, because the average market value is the only sensible way of pricing rent increases. The alternative is that your landlord raises the rent by 500% when their mortgage goes up by the same amount.
Never in this world!
Please note, I am not stating that all landlords are greedy but the majority are, due to the profit they make having no mortgages on their buy to lets so we have to be fair and realistic especially with the current situation that is effecting both parties.
A major council has declared a Housing Emergency for its city, attributing part of the problem to rising private rents.
If you buy to let you are aware of the costs for maintenance but not at the expense of a tenant and hiking the monthly rents so they are deemed unaffordable - this is a growing concern.
A change has to happen because rents are now exceeding monthly mortgage payments in the whole of the UK and globally.
So if a modest 3 bedroom property costs £2200 at month you can easily afford a modest mortgage even if you downsize so you can get your foot on that ladder for security and peace of mind.
Whist of course private renting is vital at this time, I also understand that all tenants should not default on their rent and should look after the property to a high standard so good landlords are protected and zero tolerance applied if tenants are not abiding by the agreement to bring back good, honest relationship from both parties - it is essential for growth and confidence within our current climate and harmonising a good understanding for both parties.
“This is not a new challenge, but it is at the stage of breaking point. Rents are being driven up, the cost of living continues to put pressure on household bills and homelessness is rising” so you see, something has to change to stop this continuous bleak future for both parties!
I suggest building affordable accommodation en masse, the way they did after II World War. It solved a housing crisis back them, and it will solve it now.
Wait, the government just scrapped their target for building new homes. Oooops! Ok, LL bashing time! Not that it’ll help but it feels so good. Keep on at it.
Carolin P22. What an absolute load of Rubbish you have posted on here. No Landlord in England is making 100% profit on their properties Seriously, what planet are you living on??? If your an educated woman from business school then god help the planet if that’s the sum of your knowledge.
You’re definitely not in the real world dear!!!
I would like to invite you to a Landlords gathering as a guest speaker. Your comedy remarks would be highly entertaining I’m sure!!! And without doubt you would “profit” from the experience.