We've been in our rental property for a year, but the last 6 months have been very disruptive as the end of Jan our landlord put the property on the market
We have had a lot of uncertainty regarding if we will be able to stay as some buyers were looking to rent it out, others to move it themselves
One lady was buying it but it fell through last minute
A couple of months ago Mr E viewed property
New to renting but had money to invest,discussed us staying long term, asked how much rent we paid and if we'd stay on - we said 100% we wanted to stay.
He puts offer in on house
Few weeks later agents ask us if he can revisit to check a few things over - yes no problem with that - we meet him again, talk about staying on, we say we'd be happy to sign 2 years and want security after these last 6 months
He says he has a 5 year fixed mortgage and would agree to 5 years, we say we would but believe an ASTA can be a max of 2 years
Anyway, cut to last week and agents contact us to say sake has completed - hooray!
They ask us what we discuss re rent, and we say a 2 year contract and assumed same £pcm as we discussed what we currently pay and Mr E didn't suggest otherwise
They come back and say he's happy to sign for 2 months ago an extra £50pcm
I am trying to word a reply to the agents. ....
- this was a total surprise
- I budget well, and for several months ahead but have things coming up that mean finding 50 a month (especially our rent due in 2 weeks) is going to be difficult for the next few months
- we also have to pay a renewal fee of £140
- when the property sold before (subsequently fell thtough) they said about a rent increase of £25pcm - we agreed, then the purchaser came back to up it again to £50 more and we said we couldn't afford that (ie the agents are aware of this)
- I wonder if agents are instigating the raise actually (this happened to my mum - she rents through agents but it's a colleagues house. Their agents told her to up the rent at review day but as it's property for her child she is happy to just cover mortgage payments so refused)
Basically I appreciate ll may not want to tie himself in to 'current rate' for 2 years but it's a bit of a struggle for us to up it unexpectedly.
I am trying to find the right way to put it to suggest an incremental increase but don't want the agents to see us as a risk
If it was a case of pay 50 more or leave we would pay it, but would be difficult for the next 4-5 months where we have other commitments
Obviously if we had to move I realise that would be much more expensive
Any ll who would consider this?
Is it reasonable to suggest either holding off the Inc for 6 months
Or if need be we could split the Inc and do 25 now and 25 in 6 months?
Fwiw we made it clear from the day we viewed this property we didn't see ourselves moving again for forseeable future (eg until buying which isn't any time soon)
We are good tenants, we have fixed the house up, never paid late etc, keep the house like we would our own
We accommodated all the sales viewings and did most ourselves for the agents in the evenings as they weren't available
It sounds a big fuss over £50 and I don't want them to question our ability to pay, normally I save each month and it would come out of that but for next few months I have a hol booked and upcoming weddings/ anniversaries
Any advice ?
Sorry for essay