Hi,
I am a tenant of Watford, and would like to know if there is proposed rent increase by a landlord, is there a pricing model proposed with any limitations by the Govt? I am seeing 7% increase limit by April 2023, or are there any other laws that may protect tenants from a spiked increase?
I am currently on a fixed term, and could be increased to another 12 months.
Thank you.
The landlord is not allowed to increase the rent during the fixed term. After that, they should only increase the rent once a year. There is no limit to the amount of a rent increase written into the law, other than it shouldn’t rise significantly higher than the market rent for the area. Some tenancy agreements have a rent review clause which may stipulate the amount of the rent rise. Often the retail price index (RPI) is used. In recent months many have had to suffer double digit percentage rent rises due to the high inflation figures. Many landlords are having to make unusually high rent increases to cover huge mortgage rate rises as well as other costs. Have a look at the rents of similar properties in your area. If you feel your rent increase is illegal or unreasonable you can put it to a rent review tribunal.
Than you, this is very helpful and insightful and completely answered by question.
Can I also ask, if the rest is increased, can the landlord also force us to increase deposit on the property? What if we disagree to this? Thanks.
No, they can’t force you to increase the deposit and most landlords don’t even ask that.
This topic was automatically closed 90 days after the last reply. New replies are no longer allowed.