Rental increase

[Feellikearightungreatfulcow]

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. ....

1. this was a total surprise
2. 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
3. we also have to pay a renewal fee of £140
4. 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)
5. 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

I won't refuse it for the 2 years, I wouldn't expect that just wondered how to broach the fact we can't afford that much now without them thinking we are not financially sound, which, with notice of increase, we are

Some great ideas thank you, will email them back - fingers crossed we get something sorted to suit both sides

We've just had our landlord try to put ours up £450 a month. We've negotiated it to being £150 a month more as we are good tenants and they'd need to do a lot to re rent it.

If you can reply ccing the landlord in that would be superb. I don't doubt you've done this but, Have a look back through all their emails see if there's anything with it on.
Could you do £25 per month now? If you can is reply to say you'll do £25 this year and £25 next. Due to the lack of notice you'll start this in your sept payment. You also refuse the recontract fee as this was not discussed with you, not agreed by you and also the new contract requirement is not your making.

Good luck

I'm an accidental landlord. It would cost me a lot more then £1000 to evict my current couple, turn the house over, advertise, find and check new potentials and set up the paperwork.

You can always offer more but start at current rent for two years. They know you, you pay on time, you haven't trashed the place and you're willing to commit for two years plus. That's worth so much as a landlord.

As discussed to X when Y wanted to buy the house we cannot afford an additional £50 a month.

We are happy to pay an extra £30 a month and sign a 2 year contract starting from 1st September 2016. And £140 administration fee for this.

If that is not acceptable to the new owners please let me know as soon as possible so we can find a new property to rent. Please note that we are not able to negotiate on this, that is the maximum that we can afford to pay. We are disappointed to have not been spoken to about rent increases from before the sale. We cannot afford any additional money for 2 months.

Thank you all again

As we have mentioned previously we have no contact details for Mr E so we cannot speak to him direct or cc him into email. Wish we'd asked for his number when we met him the second time but never thought to

As per a pp, I appreciate we can request his details and get them in 21 days, which we will do, but obviously this takes time so isn't an immediate answer

Dont want to remain on periodic as lack of security but think I'll suggest a combination of things and say more succinctly

We want to sign for 2 years
Can't afford extra 50 now
Can we do new contract from Sept and Inc 25
Happy to write in extra 25 after 1 year to contract
Happy to prefer to sign contract now, to commence on rent date in Sept
Don't want to pay renewal as not our doing and we're good tenants but will if they insist but will have to be a cc payment

For now I would just write something similar to my email above. If they tell you to move out, offer to increase payment after 1 year.

Just wanted to thank those of you offering advice

Went back to them suggesting we sign for the 2 years now, with the increase in 6 months (explaining that long term the increase isn't an issue but in the short term we have plans/costs AND need to find the renewal fee which they refused to waive )

After a tense wait we got the thumbs up to this today, so just wanted to say thanks to those who posted ☺

As a ll I just want to add that alot of this hard ball is probably the Agents doing, especially if the ll is not that experienced he maybe doesnt even know what they're saying or will be being driven by the Agents promising that they can get him more rent etc etc. If he actually thought about it he'd realise it not only the void, but you always have to do work when a tenant leaves, redecorating, bit of new carpet, work on the garden etc - thats not a critisism of the tenant, just saying tenant moving out, wear and tear etc always costs some money not always covered by the deposit.

What I mean is dont let this experience put you off him and do get his details so if this sort of issues occurs again you can go direct.

Why do they do this .
I rent out two properties to two lovely families.
There's been no rental increase for either of them in 5 years for one and three for the other.
I won't do that to them I think they pay enough as it is and I'd rather have nice people looking after the properties than grub an extra bit here and there.
In fact one family has added value to the house with their improvements.

I'd contact the buyer and explain and see if he will keep the payments the same, especially as you really look after his property. Tend the garden, keep it heated and ventilated , decorated etc...that's all a plus for the owner

Good luck...point out a few horror stories from friends you know...I can provide you with a few, starting with used nappies all over the garden..if you think he's stalling.

Cheek of him!

Just seen your update...well done

I always think it never hurts to ask.