Reply With QuoteI doubt the landlord would want to see you move out and then have some period of zero rent.
I'd just make a counteroffer that you can afford.
I had a call from my estate agents yesterday who manage our flat on behalf of the landlord.
We've been in our place for 2 years and our lease is coming up for renewal in a couple of months.
They said the landlord is very happy with us as tenants and would like us to stay, but they're advising him to raise our rent from £900pcm to £1075pcm.
I said this sounds like a big increase, but the person that rang me doesn't deal in lettings so I'd have to speak to them and make an offer.
I've checked my tenancy agreement and there's no clause stating they can't do this.
So me and the missus are pretty stressed, and I wondered if any of the knowledgable members on here were able to offer any advice?
Tris
I doubt the landlord would want to see you move out and then have some period of zero rent.
I'd just make a counteroffer that you can afford.
"Bite my shiny metal ass."
- Bender Bending Rodríguez
True....the landlord would probably be much happier having good tenants he has a history with but who pay slightly less than he could get for new tenants he knows nothing about.Originally Posted by stooo
Just make an offer you can afford. If the landlord genuinely likes you and you've never caused him any stress I'm sure he would go for it.
A good tenant at £x's is ultimately cheaper than a bad tenant at £x's + a little bit.
Sounds like the Estate agents are fishing for info - tell them you are happy paying £900.
I'd speak directly to the landlord. I wonder if it's the landlord asking for the increase or the agent?
And do a search and find out what the going rate is for similar properties in your area.
Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
It is a shame the property is managed by the agency rather than the landlord, as you would have more room to negotiate through saving the landlord paying commission.
I think many landlords would prefer to have a tenant they know and trust rather than risk a void period which may eat up any extra rent they may command from someone new.
The problem is that there is high demand for rental accommodation at the moment.
Bear in mind that if they advertise the property at the new higher rent they may not get as much as they hope.
You could try and approach it from a slightly cheeky angle and say that you are very surprised and as you have been such good tenants you had been hoping for a reduction in the rent. Your "middle ground" could then be to agree to keep the rent at the same level or agree a smaller increase than what they have suggested.
It may be worthwhile to do a little research into rents in the local area so that you know what the going rate should be.
If they do not accept your offer and want to advertise the place you should check your tenancy thoroughly to see what is says regarding viewing arrangements.
Best of luck.
Unfortunately the lanlord's in South Africa and the only contact details I have for him is his address over there.
The general price of the area does appear closer to what they want rather than what we're paying at the moment.
I just feel like we're being forced out as we can't afford that much.
Ask the Agents to ask the landlord if you can have his email address in order to talk to him about rent. Or,compose a message and ask the agents to forward it to the landlord (and to prove they've done it). Worth a try.
We've just bought a flat to rent out (I decided it was a better pension investment than watches!).
I'll manage it, but the agents found the tenant (very quickly as it happens and before we'd even completed) and we're using their generic tenancy agreement and inventory, for which we pay a significant % of the first months rent (+VAT) but then that's it, until we need a new tenant.
The agreed period for the current tenant is 12 months, but if they want to extend at the end of that, say for another 12 months, there are no additional fees for us. If however they don't want to extend, we are looking at perhaps a month with no occupancy, then surrendering the lion's share of another month to pay the estate agent's fees again. So clearly it's very much in our interest to keep them there and we'd not be looking to put up the rent. But it would actually benefit the EA if we did need someone else, not that I'm suggesting they'd deliberately try and influence, it's just a fact.
However, the dynamics might be different where the EA manages the property for you as they take a % every month, but I'm not sure if there's a finders fee as well which might distort their thinking.
One clause that I did notice in the tenancy agreement though is that both the tenant and ourselves have to give 2 months cancellation notification, so if we get to the end of 12 months and neither party have formally advised of cancellation, the contract moves onto a rolling 2 month cancelation period, all based on the originally agreed rent.
So I think a reliable tenant is in a good position, but if local demand is strong and the rent hasn't increased for a number of years, you should consider making a compromise offer and push to conclude ASAP. After all, if you're happy there then you don't want to be thinking about the prospect of getting turfed out and all the $hag & hassle of finding somewhere else.
Good luck.
I want to buy a Sea Dweller at the price it was a year ago, but you know what, they've gone up!
So have market rents.
The agent is exercising good service to an overseas landlord, keeping him aware of the market, as any professional tasked with looking after your asset would do.
They're not ar*ed about a couple of quid extra in commission, they are just doing a good job.
However, the 'good job' also should include a recommendation in respect of the current tenant, the likelihood of an increase being affordable and the consequences/costs faced if the tenancy was to end. As agent, I would have had a chat with you and advised openly of the intention to advise the landlord of the local increase in rent and perhaps understand how you would react and then within my recommendations to the landlord, I could paint the full picture which would include your own feelings/affordability etc.
Best of luck. I'm sure the agent would rather keep you on-board, so try not to be too ar*ey if you can help it.
@darrenw
Im ready to be corrected, but I think once you lapse into a rolling tenancy, you have to give 2 months. Notice from a rent due date, the tenant has to provide one months notice from a rent due date. I thought this was part of the Landlord & Tenant Act, however, I maybe wrong (usually I am).
There's been a mountain of paperwork, so I had to check !
This is what we've all signed up to...
Notice
At least two months notice must be given by either party to terminate the tenancy at the end of theinitial term. Should the tenancy continue as a Statutory Periodic tenancy beyond the initial term it isagreed that the Tenant may terminate the tenancy by giving at least six weeks written notice and theLandlord must give at least two months written notice. Notice must be served by either party, asrequested, in conjunction with the rent due date.
If a Renewal Agreement for a further fixed term is agreed between the parties then the notice terms ofthe original Tenancy Agreement will apply to any extended term.
...but I'd be looking to get a further fixed period committed too for the predictability of income rather than falling back on this clause.
OP, have you checked what you've signed up to ?
Ours is the same.
Will speak to them soon and try to compromise.
We've ended up moving every 2 months and I like the flat we're in now so hoping for the best.
Going to offer them an extra £50 a month and see where we go from there.
All of this, and rents in London in particular are increasing quickly.
As others have said, I'd put in an offer and hope for the best. The only card you have is that getting rid of and replacing you would be more expensive than keeping you, and would be swapping a known for an unknown. Offer them £1k and hope for the best.
Look around and see what else you can get in your area at what price. That will soon tell you where you stand. Chances are prices will be higher than you are paying now so im afraid its likely that you will need to pay more.
OP, I'm no expert but your approach sounds sensible to me. A £50 increase is probably an RPI-ish increase vs 2 years ago, so I'd have thought that - or even a bit more - would be a decent result for you.
Might be worth having a look at how the Rand has moved vs the £ over the last couple of years too: might give you an extra bargaining chip (or might not, I don't follow FX markets.)
Hope it all works out for you.
It does seem slightly low by London levels, so I'd assume that rents will be higher. It looks like median rents in Twickenham are £950 for a 1 bed flat and £1300 for a two bed.
http://www.london.gov.uk/rents/searc...rtyType=onebed
Edit: If I was the landlord I wouldn't give a stuff about the movement between sterling and the rand, nor would I be concerned about RPI as it has nothing to do with the rental market.
For what its worth our tenants have just moved out after 2 years, rents in our area (Outer London fringe) have gone up from £750 per month for a 2 bedroom house to £900 - £950 per month.
As a landlord it will cost me about a months rent in fees to our agent to get a new tenant. My advice would be to speak directly with your landlord and make him an offer you feel you can afford.
If your good tenants he won't want to lose you and have all the hassle and expense of finding new ones.
Good Luck
It seems like they want you out. That level of increase is completely unsustainable and in most European countries completely illeagal.
The average rent in the UK decreased in 2011/12 but London increased in the same period by 9.3%. http://www.findaproperty.com/rental-index.aspx
If a landlord has underpriced the place for the last while and this is a correction then surely a better idea is to keep the good tenant and have a chat about the rental increases expected over the next years and stagger them. This is better for both as it avoids the risk of void months, risk of new poor tenants and builds an open and honest relationship.
Given the state of the property market, this just sounds like an agency drumming up more commissions. Remember they charge new tenants too, not just the landlords.
I understand the argument that you're a known quantity to the landlord and a good tenent but from the landlord's point of view is that such a rarity (?) ... he could find the next tenent is happy to pay the higher price and is an equally good tenent. He might also find the unoccupied period is very short or none at all, if rents are rising so quickly that probably suggests that the market can bear it because there are a lot of people wanting to rent in your area?
Something similar happened to a work colleague of mine, she was paying circa £950 a month for a 1 bed place in Wimbledon, rent went up by £150 pcm so she played hardball with the landlord. Long and short of it he found someone else to move in the day after she moved out having had several people interested and refusing to negotiate a smaller increase with her.
Last edited by Mr Stoat; 20th July 2012 at 10:29.
£900 to £1075 is just under a 9.3% per annum increase (I work it out to £1075.19). If the rent has been maintained at £900 for
two years, the landlord is increasing the rent by the indicated figure. I don't know what the 2010/2011 figure is, I suspect broadly
similar though.
______
Jim.
You can't compound 10% rises in prices. Within a few years the rent doubles.
As I said, it's unsustainable.
Over the last few years rent has doubled, and it'll double again in a few more. It's sustainable as long as people are prepared to tolerate their standard of living getting chipped away every year.
Incidentally, tube fares always rise by an amount above either measure of inflation and certainly by above the rate that wages have increased, so that's also becoming proportionately harder to bear.
Agreed, whenever i have a stable tenant i want to keep them, and as such i am ALWAYS prepared to discuss the rent, you and your partner are a known quantity, a new tenant is a new risk.
Good luck.
Well they need to do the following:
a) issue you with a section 13 rent increase notice
b) if you agree sign you up to you a new tenancy agreement
failing that if you decide that you cannot afford to pay the increased amount which you don't technically have to agree to then they will have to give a valid eviction notice in the form of a section 21 notice which is approximately 2 months notice and if you still can't find anywhere to leave then they will need to issue you with a possession order. This will give you around an 2 months or more.
if you need any more help just let me know
That's very kind of you. And also rather timely. Having some relationship problems as well as some potential problems with the new contract we signed for the tenancy renewal.
May well be in touch.
Tris
I've just raised the rent for my tenants but by only 50% of what I could have, simply because they are great tenants. It's not a good time to be renting, but you may well be able to negotiate a lesser raise in rent.
Good luck.
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