Should I increase the rent?

Split the difference & increase to £875-£900
£950 sounds a lot, (or a big jump from £800)

You can absolutely see who’s who here. Of course I would accept an increase. But the point is that they wouldn’t do it just to be in line. And that’s why I know she’s a good person and so am I. Works well for both of us. Moving house would be about £400 a month more but I repair things when they break so I’m not actually costing her money and she’s negotiating that. Some people are just decent.

You’re not running a charity OP. To be a good landlord you need enough money to maintain the property.

There are 3 adults in the house working full time, even if they’re all on minimum wage, they’ll have £4.5k ish going into the household.

Their rent goes up with inflation, as do their wages . At the end of the day , they are paying RENT, to live in said property, regardless if it goes towards landlords mortgage.

They’re ‘customers’ who are paying to live in a house, not to altruistically pay off someone’s mortgage. OP isn’t a charity. If she ran a shop and the price of her stock went up and she didn’t pass those rises onto her customers, she would go bust. There’s no difference here.

I'm a landlord and I have only raised the rent on my place when new tenants have moved in. Personally, good tenants are worth their weight in gold (in my experience for every crap landlord there is an equally crap tenant) and if the family you have in are otherwise solid dependable people who look after the place I would either keep the rent as it is or raise it in line with inflation. Worse case scenario is that they move out and you have a few months void of lost rent, agency fees and possible decoration costs all for an extra £25 a month.

Market rents are that because other landlords have done unreasonable increases.
£50 isn’t a lot to increase and would be manageable £300 would be really unfair

I'd raise it by 100 and agree at 75 if they counter offer, you'll still be well under local rent prices and still doing them a favour. You are already absorbing costs and unless you're really well off you need to put a bit aside incase something happens that insurance doesn't cover. You've been very generous for not increasing for 6 years but you should absolutely not be renting it out at a loss. Remember they may be good tenants but they aren't family and they have saved a lot by you not increasing it over the years

It's a business. Not a fluffy friends arrangement. Being a good person doesn't mean absorbing the additional costs of housing 3 adults in full time work out of her own pocket. I'll repeat the last bit - three adults in full time work who can easily afford an increase. Even council tenants have their rent increased every year.

I'm not surprised they are so nice. They will know full well that three adults and extras wouldn't get rent this dirt cheap for years on end anywhere else.

Many students do placement that costs them. You don't get a sainthood for it, it's part of training you accept when you start the course. Then you get paid for working. That's the only thing you're entitled to - fair pay for your work.

You're lucky to have cheap rent but if your landlady needs to put it up to cover costs, that's how it is. She doesn't have to take food off her table to subsidise your rent.

This

I'm a landlord and did put some rents up this year. Last increase was 3 years ago, and previous one 5 years before that. All are still way below market value

Tenants are long term (longest 17 years) and all accepted, some said they were surprised at the small increase (£100 ish) and how long I hadn't raised it for.

I always sort any issues out fast and since costs have gone up, need to ensure the business is viable and I can cover all emergencies. I replaced 3 boilers in 6 months last year at a cost of £10k, but that was fine as I make sure the money is kept ready. I'm not waltzing around in profit, the money goes back into the houses - new kitchens, bathrooms etc.

It's a business, you can be kind to tenants but still treat it as such

Actually it was a student at that time so paid about £10k a year to drive an hour to work when my babies were in bed. So I’ll enjoy my cheap rent and my patience when I had no oven for weeks because like I said I’m not an asshole. And nor is my landlady.

Some people just aren’t cut out to be landlords. What happens when you have to carry out maintenance? Upgrade the kitchen, windows or bathroom? Do you have the money? You need to start treating them as tennants rather than friends.

This, although I’d increase by £100 this year.

You didn't actually, but have a heart warming day anyway xx

I think you’ve been more than fair. I agree that £100 sounds reasonable

You do know social housing tenants have their rent increased every year? Why don't you offer them a reduction as you're so reluctant to increase it?

You were paid for your services caring for families, you didn't do it as a charity. As a landlord you can't tell your tenants that, sorry, that repair will have to be delayed because I kept your rent down so can't afford it. Of course you have to be fair but fair to the landlord too. Maintaining the property you rent doesn't come free you know.

I'm not aware of any other business relationship where costs stay the same because you've been a good customer/client. Insurance goes up, shopping prices go up, utilities go up etc etc - don't make it personal.

£850 is a very reasonable amount IMO. Small and regular increases as needed.

Remember, if something needed doing in the house, they wouldn't ask you not to fix it because you're a good landlord. And you wouldn't be able to get it fixed at 6-year-ago prices.

This thread has warmed my heart. Because now I can see that not everyone in the world are about themselves. I’m going to have a great day today thinking about how my rich as fuck landlady isn’t so quite self absorbed. I’m an NHS nurse who cared for all of your relatives. Not everyone’s an asshole.

I had the same issue recently. Here's the thread if it helps.

The upshot was, I notified him of an increase of £200 per month. He came back to say he could only afford £100. We agreed on a final increase of £150. He knows that the rent is reasonable and he couldn't get that anywhere else locally. But I appreciate that he is a good tenant.

I will be doing small annual increases in future.

https://www.mumsnet.com/talk/am_i_being_unreasonable/4999516-rent-increase

I think 100 seems reasonable with smaller increases after that. Just explain that you are no longer covering the costs involved with the house so need to increase the rent. No increase for six years has been very helpful to them, I'm sure. With three full time working adults, I'm sure they can absorb that.

No idea why you think the tenants would be ‘fuming’ at a very reasonable increase. They should be thanking their lucky stars they have been undercharged for so long

My rent went up 9% this year

I’m absolutely disgusted. Our lovely house is doing well for me and well for them. And then when I offer to buy this house we would have all done well. In that time she’s had babies, I’ve had awful heart breaks and I can say that we’re both just good people. Unlike some on here. OP please just carry on being a good person. And it will come back to you.