To think the letting agents are taking the pee and running with it?

[Pinkerbeller]

Original letting agent sold his business and new agents raised the rent from £650 to £700pcm last year. This year they want to raise it to £750pcm (as well as the £108 fee for changing the date /price and re-printing a 10 page document)

Our AST contract says Rent review: It is agreed that the rental as defined in clause 1.10 of this agreement will be reviewed in an upwards only fashion on its anniversary and any subsequent anniversaries in line with the RPI (Retail Price Index) increases for the previous 12 months and subject to a minimum of 3% and a maximum of 7.5%

AIBU to think that the RPI for the last 12 months is a piddling 0.5% so they should only be increasing by 3% (£21) and they're trying to rip us off?

We're good tenants, take care of the place, rent paid on time every month for 3.5 years and put up with quarterly inspections which, to be frank, are insulting (is there really a need to open cupboards for a nosey?!)

Yanbu, I would copy the specific article and be reqesting they justify an increase. I would also be copying their initial response to their professional body (should they be members of one).
Alternatively-leave. I would assume the rent increases are coming from the landlord?

My belief is that the increases are coming from the letting agents to justify the ridiculous fees they charge (as well as upping them assuming it's a percentage of monthly rental charge to the landlord).

I hadn't thought of but will look into the membership of a professional body, thanks QOTP.

You're probably right. If you're in London, rents are really being impacted by Brexit with many landlords maintain existing levels or even dropping them by 5-10% to keep good tenants. I'd negotiate, if I were you.

You have the landlord's details, so contact them and see what they think.

London/Essex borders and I hadn't thought about the Brexit impact, thanks for the ammo! :)

Pinkerbellar,
Yes they are taking the piss.
I can't believe they do quaterly inspections.
Do they think your subletting or something?
It's outrageous ,you have lived there for over 3 years and always paid your rent.
It depends where you want to go with this, as you could report them but you might find your tenancy is not renewed when it is due for renewal.
It's a difficult one.

Avamiah I insist that quarterly inspections are done by my letting agents, so that any niggles can be sorted soonest, rather than develop into more expensive problems. Mine is an old house, so I'd rather any issues were tackled early. It also means I know they are doing something to earn what they take from the rent!

I am abroad, so it's for my peace of mind as well. It also means that I can work out what I might need to spend on the house in the coming year in excess of the usual spend.

I had that clause many years ago - never actually implemented an increase as the tenants would have left, local market rules.

Inflation is actually about 3% - the RPI is fiddled - but market conditons still rule.

Contact the landlord to negotiate.

Yeah, the quarterly look rounds do make me feel a bit like an untrusted student - they actually said they do it to justify the fee they charge!

Thanks all, I'll email the agent and ask them where they get their figure from, especially considering we're still waiting to have our toilet flush fixed 9 months after first mentioning it