How much can I legally increase the rent by please? (My mortgage has increased 4 times recently and it is becoming untenable).
There is no limit assyming you are in England, although if the increase is much above market rates then tenant can appeal and is presumably unlikely to be willing to pay it.
You should also factor in tenants ability to pay. Interest rates increases are a landlords problem and the problem will become much worse if tenant stops paying completely. While tenants individual ability to pay isn’t necessarily your issue, rents have increased while tenants affordability has reduced significantly due to inflation so need to be careful not to lose a good, reliable tenant assuming they are!
2 Likes
You can as much as you like but bear in mine that they could argue if it’s over the local market rate !
1 Like
Thankyou Richard excellent advice.
Thanks Jason excellent advice.
I used to previously put in the contract itself saying at annual review 3% increase so that there are no shocks. I did not do it for the past 3 yrs due to covid. But now I have again put a clause, 5% increase from this year. Overheads to maintain a property are increasing and in my area there is selective licensing, mandatory membership like NRLA too. So I think this is only fair.
1 Like
That’s an excellent idea Shantala. Thanks 
This topic was automatically closed 90 days after the last reply. New replies are no longer allowed.