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b_real

Bangin the rent up

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Who here gets their rent banged up every f****n year?

I've been renting current place for 5 years, and had a rise for every single one of them. The increase has been around 3% every year:

Year % increase
2014            -
2015 2.56%
2016 2.50%
2017 2.91%
2018 2.83%
2019 3.64%

This may seem like a small amount every year but its higher than inflation, higher than my wage has been increasing, and totals around a 14% increase over the period. This is really starting to grind my bloody gears, particularly the size of the latest one. The reason for the increase is "to keep in line with the market".
 

The landlord is an actual lord of some sort who owns pretty much all the properties in my area. I rent it through a lettings company, who basically do everything to stop the landlord having to speak to us.  I've been a good tenant throughout the period, no missed payments, keep the place in good nick etc., they inspect regularly. I've been on a rolling month to month tenancy since the end of my first year in the place (i.e. 2015). 

Is there anything I can do to refuse this latest increase, that is not a section 13 tribunal? I'm not sure if the tribunal would be in my favour, I'm in Cambridge and the rental market is f*****g nuts. Or would even the threat of a tribunal work in my favour?

Or do I just have to suck this up like the plebeian I am.

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Go back to the managing agent and say that the raise is above inflation and see how they react to that.  Whilst you wait for their response, Invest in pitchforks, tumbril's and guillotine's.

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Does your local council have anyone who deals with private rentals? When I was living in London my council had 2 staff members who helped with disputes? If so they may be willing to talk to the agent or LL as over time your rental has had above inflation rises.

Sorry not to have better ideas. 

 

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Tomorrow... WE MARCH!!!

I shall point out the above inflation rises to them, but I suspect they don't give a toss about that because its not their fault that 'rental prices have increased above inflation'. 

It is just a bit irksome that they're even doing it...  Its not like the landlords mortgage is going up. I've rented a lot in my time and this is the only place where they've increased rents consistently. It feels like the increase is going entirely to the managing agent to cover their increased costs, not the landlord. 

Basically I'm just a bit mad and really need a hug. Or rent reduction, i'd prefer that. 

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https://www.gov.uk/private-renting/rent-increases

Quote
  • the rent increase must be fair and realistic, ie in line with average local rents

The thing is, how the hell do you actually measure what's in line with average local rents? The property i'm in is pretty unique. It's old and in an area where a whole bunch of new builds have just gone up that have all been bought by investors/btl who are renting them out at a fair amount above what I'm paying. 

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1 hour ago, b_real said:

https://www.gov.uk/private-renting/rent-increases

The thing is, how the hell do you actually measure what's in line with average local rents? The property i'm in is pretty unique. It's old and in an area where a whole bunch of new builds have just gone up that have all been bought by investors/btl who are renting them out at a fair amount above what I'm paying. 

Not to sound unsympathetic, but isn't your situation that you are simply saving a little less than you were vs these other properties?

Have you shopped around for other rentals? Are there any places you'd be happy to live at a lower price?

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17 hours ago, Locke said:

Not to sound unsympathetic, but isn't your situation that you are simply saving a little less than you were vs these other properties?

Have you shopped around for other rentals? Are there any places you'd be happy to live at a lower price?

Yes that's the issue, but I don't see it as a simple one. It's difficult enough to save as it is, and now its even more difficult. So how am I supposed to save up for a house when the amount I can save is diminishing every year while the price of houses increases at such alarming rates.

The two lines on the graph are going in different directions, and never the twain shall meet. 

Yes I can move to a cheaper place but then what? It would relieve the pressure for now, but the rents there will just keep getting banged up until I get squeezed into a smaller place again, while landlords all profit. By the time i'm 60 i'll be living in a HMO boxroom.

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On 15/03/2019 at 11:32, b_real said:

the amount I can save is diminishing every year while the price of houses increases at such alarming rates

You can't have everything you want, just because you want it. Perhaps the society you are living in is telling you that it doesn't value you or what you are doing enough.

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