Rent increase by £300!!! What do I do? Is this normal? Please help!!!!

Don't reply until you get expert advice, from someone who considers your tenancy agreement, your personal circumstances and your history with the landlord. If you agree you can't get out of it.

Rents have gone up enormously but local knowledge would be needed for a view on the fairness of that demand.

Good luck.

Seems to be confusion between’rent’ under Rental Act and service charge an amount in addition to Ground Rent set out in a 125 year residents lease purchased for a premium protected by Landlord & tenant act and Commonhold & Leasehold reform act. 2002.

SC can only be disposed of for maintenance of the property or house and protected in a s 42 trust/client account against FH or man Co creditors.

SC cannot be used to pay down freeholder’s (the landlord ‘s )mortgage and other debts

@madamweb. Do you honestly think that businesses such as supermarkets, garages, builders and others do not put up their charges when their overheads increase? Should everyone be a charity? It's not real life.

Have you checked that your DH is getting every benefit he is entitled to. Also see if anyone can help you complete the PIP form.

@MrsPeregrine. Water is an essential for life but you don't see the water companies deciding that it's immoral to make profit and pay huge bonuses to CEOs and shareholders. Why is it just LLs who are vilified in this way?

@PontiacFirebird. Good points. Though not everything can be planned for. Removing interest costs from tax could not have been foreseen. Some LLs may be accidental, in that they had to move for work and were hoping to go back, they may have retired since first buying the house and therefore on less income each month so have to increase rents accordingly. Some LLs may feel responsible to their tenants and be reluctant to sell up because it is removing even more rentals from the rental market. I'm sure there are many situations but I think that your point about LLs who are not businesses, no longer being able to claim interest against tax was a poor decision. It has had dire consequences for renters including increased rents and fewer rental properties available as LLs sell up. I cannot see that it has freed any properties up for first time buyers as was argued at the time. It was simply about getting people to pay more tax.

A lot of misinformation here unfortunately, and irrelevant arguing.

The only thing that matters is the market rent in the area for a similar property. If yours is still within that, then the landlord can increase to this amount. You have the option to either pay the increase, or move elsewhere (and have to find another property at market rate).

You can ask the landlord if they would negotiate, but they may say no, and prefer to rent to someone else at market rent.

Why would they do that?

@InDogweRust It sounds as if @m00rfarm’s tenants would be in dire straits if farm sells the property, because they’re paying well below market rent and they won’t be able to find that elsewhere.

I know someone in a similar situation, they’ll have to move in with one of their adult children if their current landlord ever sells.

@soupyspoon Well said.

1700 is the market rate for a 2-bed in Barkingside.

@ConstanceM Yes, I have friends who are paying an additional £600 per month on their residential mortgage, it’s crippling them. It’s definitely not just BTL mortgages.

@SharpOpalNewt It could be that their BTL mortgage has been on a fixed rate and now it's not. If landlord has a mortgage on the house they live in, it's likely the mortgage has gone up for that too. It could be the LL has no leeway.

I think you've captured it. The problem with the rental sector is that the unprecedented low interest rates over such a long period until recently has filled the sector with landlords leveraging debt as a means to build equity rather than owning it in the first place. For the last 20 years, I've described myself as an 'unprofessional landlord'. I've should have been calling myself a 'traditional landlord', one who just owns the properties and can take the long view. My longest tenancy is 17 years and she is still there. They move in and stay.

The answer to this query is simple....what is the current market rate for similar properties to yours currently being rented out for?...this will set the amount your landlord can reasonably raise your rent too, it is also the figure that the rent tribunal service will consider if you choose to go down that road. If your landlord is trying to charge you more than this they won't be able to, if not then they will...

The current high increases in rent are result in the continual tightening of the screws on landlords by sussessive governments in terms of higher taxes and removal of offsetting business costs and more importantly the failure of government to build the required amount of affordable housing for the ever increasing population.
The number of landlords still offering properties to rent is currently decreasing significantly as they sell up and invest their monies in other assets which are easier and less hassle.

These are just the hard cold facts, probably not popular but they are true!

Also, if you're on Facebook, look for tenancy matters uk. They're very helpful on there. Don't bother with citizens advice, they're very good with some things but not, gener, with housing law.

Rent increase should have been on a specific form but can't remember which one.

Edit: I haven't read the whole thread sorry

This could also happen on a residential mortgage, like under Truss crash, many residential home owners are expecting a collosal jump, especially those 5yrs ago were paying interest in 2% and will now jump to 7% svr unless they remortgage, the pain is not exclusive to renters, of which I have been for many years previously .

That amount sounds ridiculous for a 2bedroom flat! You could get a 4 bedroom house for that much surely?

It's the risk you take and should not be passed on to renters.

BTL is leading to feudal france type rental situations. Hope rental legslation is further improved. 300pm is ridiculous.

-It's the bank, not him..
-BTL variable rates are 8%+
-Landlords are stuck on variable rates as they can't pass the stress tests unless they charge 2% above the banks rate x 145%
-I'm similar situation as bank won't allow new deal remortgages unless I increase rent from £885 to £1200+ in fact I've already been declined
-If your LL owns the house outright then it's unreasonable
-If he has a mortgage he's as screwed as everyone else

I have just done this with my tenants today...

Rent will go up from your renewal date.

@Mrsbloggz Investments also generate income though and some people live on that income. I’m self-employed and the building where I rent my office is owned by two brothers in their 80’s. They used to run a business in the building, now it’s divided up into smaller offices and the rental income forms part of their pensions.

Obviously small LL’s have to invest in their properties, do repairs, etc. , but longterm, many are hoping to generate some income from them. I imagine that many are now finding that the higher interest rates and charges are preventing this, so they’re raising rents or selling up altogether.

I think that my business landlords fully own the building now so they’re not affected by interest rates. They increase the rent annually by 2%.

Again not always. Being polite, it is you who seems to lack knowledge on this.

Then they are amateurs who don't understand what they're doing.
Landlording is an investment activity.