Rent Rise!

[Ologhai Jones]

I've just received a 'rent review' letter from the letting agent for the house we rent. We've been here since Jan '08, and the rent has remained the same from then until now.

The agent 'proposes' that, from 25th Dec (happy Christmas!), the rent should increase -- by a relatively modest 4%.

I was just wondering:

1. What your recent experiences of rent rises (or not) are.
   
2. How you think this compares with the rental market generally, and
   
3. Would you just accept the agent's proposal in this case, or... what?
   

[Caveat Mortgagor]

We moved into our house June 2007. Today we pay 8.6% less than when we moved in.

[Lepista]

Ask them to work out what having a couple of months void will cost, along with the costs of finding a new tenant.

Start looking for somewhere else, unless they offer a rent reduction.

[Bear Monger]

Write back saying you were going to ask for a rent reduction of a similar amount. Agree to compromise on not changing it at all.

[bazzer]

I've just received a 'rent review' letter from the letting agent for the house we rent. We've been here since Jan '08, and the rent has remained the same from then until now.

The agent 'proposes' that, from 25th Dec (happy Christmas!), the rent should increase -- by a relatively modest 4%.

I was just wondering:

1. What your recent experiences of rent rises (or not) are.
2. How you think this compares with the rental market generally, and
3. Would you just accept the agent's proposal in this case, or... what?

I'd just ignore it and see what happens...

[cybernoid]

Laugh

Bin

Forget about it

Through incompetence or design you wont hear another thing about it

[efdemin]

Would that mean you'd be signing a new contract for 6-12 months at that time? You could try saying back to them 'no, I'd like to go onto a rolling periodic tenancy instead'. The price won't change then, but if they want you to move out they have to give at least 2 months notice, unless they've already given you a 'Section 21' notice (I think that's what it is?).

Depends on what the asking prices for new rentals are in your area are at the moment really though. They seem to be going up around Cambridge.

[DeepLurker]

Ask them to work out what having a couple of months void will cost, along with the costs of finding a new tenant.

Start looking for somewhere else, unless they offer a rent reduction.

Write back saying you were going to ask for a rent reduction of a similar amount. Agree to compromise on not changing it at all.

I'd just ignore it and see what happens...

Surely the right answer is "Look at local prices; if you're paying over the odds, tell them to get lost; if you're paying less, shut up and pay" ???

[retz]

Would that mean you'd be signing a new contract for 6-12 months at that time? You could try saying back to them 'no, I'd like to go onto a rolling periodic tenancy instead'. The price won't change then, but if they want you to move out they have to give at least 2 months notice, unless they've already given you a 'Section 21' notice (I think that's what it is?).

Depends on what the asking prices for new rentals are in your area are at the moment really though. They seem to be going up around Cambridge.

Yep they are, Cambridge; always defying convention.

I start shaking when I remember living in a 1 bedroom flat with rotting wooden windows, shoddy electric heating & a bad case of damp (washed & painted over it before I moved out so they wouldn't charge me) for £725 just off Histon Road.

Anyway, tell em to get bent or just ignore it (like you are).

Edited November 11, 2010 by retz

[Lepista]

Surely the right answer is "Look at local prices; if you're paying over the odds, tell them to get lost; if you're paying less, shut up and pay" ???

Nah. They are paying £850 - seems pretty extortionate to me (unless it really is a mansion).

Any landlord worth their salt knows the value of a good, regular, long term, tennant. Rocking the boat is very, veryu risky, and reminding them of that should be every good tenants duty.

p.s. most assured shorthold tenancies are written such that they automatically go onto a rolling contract after the initial (usually 6 month) period. You don't (usually) have to request it.

[IP Newcomer]

It all depends what the contract says. If it's an ARLA standard contract there will be the option of an annual review. If that's the case then you have the option of appealing (not sure how you do this other than writing to them), giving notice or staying put. If you stay put then your rent due will go up.

When my landlord did this I tried to argue that it made it a new contract (the contract was pre tenancy deposit scheme, the review was post deposit scheme and I wanted my deposit registered) but looking at the contract it was fairly clear that the agent for once was right and the rent increase was done within the contract itself.

[Georgia O'Keeffe]

I've just received a 'rent review' letter from the letting agent for the house we rent. We've been here since Jan '08, and the rent has remained the same from then until now.

The agent 'proposes' that, from 25th Dec (happy Christmas!), the rent should increase -- by a relatively modest 4%.

I was just wondering:

1. What your recent experiences of rent rises (or not) are.

2. How you think this compares with the rental market generally, and

3. Would you just accept the agent's proposal in this case, or... what?

In this situation its all about playing hardball and negotiating, i would suggest a start point offering double the increase and if pushed throwing in Prima Nocte if you arent married.

Remember Qui audet adipiscitur

[Number79]

Been in our place 2 years, renewal due and LA's letter said to expect a rental increase.

I felt that we overpaid 2 years ago, may be not though, but it is well priced compared to what little is available now.

I can't argue too much because I know they could let the place quickly due to next to nothing being available in the village.

Got my vaseline ready

[Number79]

Which for all the bravura talk, is exactly the position many tenants have to adopt.

If you're young and don't have children it's a hell of a lot easier to move than if you have to take into account moving a family.

I have to say I can't understand their thinking, but I have come across landlords who would rather leave their property empty than drop £100 a month on a £1400 rent. It's a different mentality - a different perspective. If the landlord thinks the rent is a bit low compared to the market, he'll be lying awake at night thinking the tenant is keeping HIS money!

Strange, but true.

A mangy and unpleasant pox on all landlords.

Just as their extra £50 a month would easily be swallowed by a void, I would have to spend the same on removals (amongst other things) if we ended up moving so would still be better off just coughing up the increase.

Whatever is suggested I will try and split the difference but am under no illusions, I am better off paying than moving.

[Bloo Loo]

Yep they are, Cambridge; always defying convention.

I start shaking when I remember living in a 1 bedroom flat with rotting wooden windows, shoddy electric heating & a bad case of damp (washed & painted over it before I moved out so they wouldn't charge me) for £725 just off Histon Road.

Anyway, tell em to get bent or just ignore it (like you are).

how do you know they are going up?

[DeepLurker]

Nah. They are paying £850 - seems pretty extortionate to me (unless it really is a mansion).

Any landlord worth their salt knows the value of a good, regular, long term, tennant. Rocking the boat is very, veryu risky, and reminding them of that should be every good tenants duty.

p.s. most assured shorthold tenancies are written such that they automatically go onto a rolling contract after the initial (usually 6 month) period. You don't (usually) have to request it.

Am I missing part of the thread here? I can't see the OP mentioning where he lives, or how much he is currently paying?

[efdemin]

how do you know they are going up?

I know asking prices are going up from monitoring Rightmove rental listings over the last year or two (I was also watching asking prices for house purchases at the same time).

Happy now?

Edited November 11, 2010 by efdemin

[Bloo Loo]

I know asking prices are going up from monitoring Rightmove rental listings over the last year or two, alongside asking prices for house purchases.

Happy now?

check out your Toyota garage....RRP all over the new cars....deals to be done.

[DoctorJ]

we pay £775/month for 2 bed house in Hertfordshire - which isn't bad for the area as it goes.

LL wanted to increase to £825 - but we agreed to take it for another year at £795. apparently the admin fees at the agent have increased meaning that the LL wanted to increase the rent.

We didn't have to pay renewal admin fees to the agent though...which was interesting. I have done this at every other agent when I have renewed a contract.

Edited November 11, 2010 by DoctorJ

[Lepista]

Am I missing part of the thread here? I can't see the OP mentioning where he lives, or how much he is currently paying?

Oops sorry, don't know where I came up with that figure!

My (rather flippant) point was that rents are generally too expensive. Rents generally are coming down, they shouldn't be going up.

[efdemin]

check out your Toyota garage....RRP all over the new cars....deals to be done.

[retz]

how do you know they are going up?

The letting agent on my previous place was telling me they were putting the rent up for the next tenant, felt sorry for them (the renter, not the agent) but a lot of people round that area were 'on the Uni as it were'.

Most of my information now is hearsay over the coffee table with colleagues who are renting, there general consensus is that Cambridge is getting more expensive rather than cheaper.

Someone recently moved to that place near the station, they are putting up an eye watering £900 pcm.

Madness.

(Sorry for the thread hijack, I'll shut up now)

Edited November 11, 2010 by retz

[Bloo Loo]

The letting agent on my previous place was telling me they were putting the rent up for the next tenant, felt sorry for them (the renter, not the agent) but a lot of people round that area were 'on the Uni as it were'.

Most of my information now is hearsay over the coffee table with colleagues who are renting, there general consensus is that Cambridge is getting more expensive rather than cheaper.

Someone recently moved to that place near the station, they are putting up an eye watering £900 pcm.

Madness.

(Sorry for the thread hijack, I'll shut up now)

not at all, I did relate my own rent rise experience 18 months ago, where the whole thing was orchestrated by the EA. I moved to a large place for now a lower rent.

Ive NEVER paid the asking rent on a property.

[DeepLurker]

Oops sorry, don't know where I came up with that figure!

My (rather flippant) point was that rents are generally too expensive. Rents generally are coming down, they shouldn't be going up.

Generally they are going down, it seems, but not everywhere.

E.g. I recently accepted a rent increase, but then in my area prices are still going up...

Without knowing where the OP is, or how his rent compares to the local average, it's hard to offer constructive advice.

[REP013]

We had this in the last rental after the initial 12 months, 3% I think they wanted.

We contacted the EA and asked if this was at the request of the owner, they said no, it was on their, the EA's recommendation.

We told them we were going to ask for a reduction and insisted that they ask the owners, well we got a reduction.

Now there are arguments that there is little available and the owner can easily get another tenant in about 30 seconds who is willing to pay the same or more than we were but the reality is that the owners were happy with us renting their property and the money wasn't their motivation (don't rent from a BTL'er).

So, if I were you I would

1. Confirm whether the increase was asked for by the owner

2. Ask if the owner is a BTL'er

3. Make a decision on the above responses

Good luck.