Rent increase on flat .... thoughts?

[steve_amv8]

Hi all,

I rent a flat which is used during the week (because of work) and I have had for nearly 12 months.

The landlord has asked for a rent increase of 8% if I commit to another 12 month contract or 13% if I commit to 6 months - these are the only two options. The former isn't really viable since I may not be working there for any more than 3 months, although I could possibly be around for several months more!

Does this sound reasonable? Love the flat and very convenient - happy to pay what is right but I am just looking for some thoughts from those that might know the current markets....

[bazking69]

If you think it is worth it and are happy to pay it to retain a place you like then go for it.
Personally i'd say that the % rise is just greedy, especially a 13% rise if you only commit to 6 months.
I'd call his bluff, or even try and cut a deal, but I'd make sure I had a contingency plan...

[Fittster]

Could you easily find another flat in the area? I'd be tempted to call his bluff.

[MK4 Slowride]

Everytime I've had a rent increase it's been about £10 a year. Talking of percentages, especially like that I think they're taking the piss.

[Pickled Piper]

It all depends what the market rate is. How does it compare to other similar flats in the area? The rise the Landlord is expecting is quite high in the current climate unless he has been undercharging you for the last 12 months.

Does appear to be an odd thing to do. Depends how much you like where you are and how inconvenient it would be to move to another flat. Also, you will have to pay agents fees again if you move. Either way looks like you are going to have to sign up for a further six months, either where you are or a new place.
pp

Edited by Pickled Piper on Sunday 8th March 23:31

[jimmyd123]

Everything suggests rents are set to fall in the short term. Call his bluff.

[Plotloss]

Call the bluff.

He'll almost certainly have a dead period of 1 month unless he's very lucky.

Theres his 8% gone.

[thehawk]

No way a rent increase can be justified in this climate, especially given that interest rates have been dropping.

[arryb]

Find a number of similar flats in the area - show him what they are currently being rented out for (maybe a mixture of occupied and available to rent) and I bet he'll back down to your demands!!

[jimmyb]

I think the issue here is that the landlord has over extended himself and cant really afford the mortgage payments and is trying to pass them on to you. If you cant/wont he may want you out so he can sell.

[condor]

I'd just tell him the rent increase is a bit steep and you're just warning him you're looking around for other properties...and just do it.

[B17NNS]

Another 'call his bluff' vote here. Good tenants are hard to find. When you get one it is in everybody's interest that the relationship remains good.

Why do you need to sign for another 6 or 12 months anyway? Surely by now your AST is just rolling forward on a month by month basis.

If you commit to a term longer than the required 1 month this is in his best interest anyway.

Tell him you are sorry he feels that an increase is required and you feel that the market dictates otherwise. Say, I really want to stay and am happy to commit to another 6 months but if you increase the rent I'll have to go elsewhere.

[B17NNS]

Oh, and I have very good tenants. I'd love to increase rents but to be honest in the current climate, it would be taking the piss.

[muley]

Maybe he is planning to sell it and is trying to put you off carrying on there. Just a thought...

[MitchT]

Piss take. Right Move is your friend. Get an option lined-up and ready, then tell him to screw his rent rise. If he won't, walk away.

[BMWBen]

Call the bluff. And next time get maximum rises put into the contract.

In mine I've got RPI or 2.5%, whichever is lower.

[2something]

Pickled Piper said:

It all depends what the market rate is. How does it compare to other similar flats in the area? The rise the Landlord is expecting is quite high in the current climate unless he has been undercharging you for the last 12 months.

Does appear to be an odd thing to do. Depends how much you like where you are and how inconvenient it would be to move to another flat. Also, you will have to pay agents fees again if you move. Either way looks like you are going to have to sign up for a further six months, either where you are or a new place.
pp

Edited by Pickled Piper on Sunday 8th March 23:31

arryb said:

Find a number of similar flats in the area - show him what they are currently being rented out for (maybe a mixture of occupied and available to rent) and I bet he'll back down to your demands!!

What they said.

[JonyPI]

definately a buyers barket at the mo (or tenants should i say) but do check what your paying compared to everyhwere else first, but iv just had a friend whos bought his own house, when he told the landlord he was moving out he even offered to reduce the by about 150quid!!

[hornetrider]

He obviously knows you have an Aston.

[JonX2C]

Thats a big increase.

In the 2 years I have been in my rented 4 bed in Muswell Hill the rent went up 3%

I would be having a word with your landlord!