Hello Quick Question
I have my flat up for rent,I reduced it to get good tenants making enquiries,but I feel I might have underestimated the rent,can make a slight increase while advertising? Your thoughts?
How does reducing the rent mean “good” tenants will enquire?
Do you mean youve priced it too low and you are getting people you dont want applying?
Or you realised you can get more money out of a tenant so want to up.the.price?
Surely if you posted it you must have been happy with the rent you were asking so why increase it?
Just shut the ad down and start up with a new ad at a new rent
With the new legislation coming into force and all rent hikes being challengeable the last thing you want to do is offer lower rents
You will only be able to increase rents at a market rate of once a year from next year so don’t put yourself at risk with this government pushing us into a further cost of living crisis
The supermarkets have already said prices will go up due to NI hikes
Keep it at least at market rate or a little higher
1 Like
And not backdated if the rent rise is found to be fair. Every tenant in the country challenging every single rent rise ? I can only presume will lead to huge backlogs .
Thank you AA…advise appreciated. I have a few viewing tomorrow. But will shut down and restart will have to pay a new £49 fee?
If you have paid fee to advertise on other portals then just change the price otherwise rather than start afresh
I am not sure of the nuances of law but even the first rent can be challenged
No the increase can’t be backdated
It’s a scam so tenants can delay rent increases
They start after the tribunal concludes
That’s what I understood from a webinar yesterday
Labour government