To consider moving out over £10 a month?

[Sparklfairy]

I'm six weeks into my latest 6 month tenancy agreement (been here two years), and the agent has just sent me another renewal for when this one ends

They've put the rent up. By £10 they increased the rent last renewal which I accepted even though I thought it was a bit off with everyone struggling with covid.

Now they've put it up again, but it's such a paltry amount I'm a bit confused. I have landlord friends, and no one is putting rents up if they've got good tenants, and all agree £10 is a bit pointless to rock the boat so to speak.

I could move, but it would be a pain in the arse I don't need. I no longer need this location like I did when I moved in, and could move slightly further out to a much bigger place for just £40/m more than they're asking for here, but I wouldn't know anyone etc. I couldn't get anywhere (tiny or not) alone for the price I'm paying.

They also struggled to rent this place as it's so tiny - a very limited market. If you've got someone that pays on time and is no trouble why fuck about over £10

I wrote back yesterday and asked if the figure was correct (could be a typo - not the first time it's happened), but 24hrs later haven't had a reply and now I'm left wondering what to do. Living alone is expensive enough (costs me £800-900 a month in rent and bills) and if they've really put it up by so little it feels a bit like they're trying to squeeze every last penny out of me.

I should add, the "landlord" is a LTD company with over 100 properties, so not a struggling accidental landlord. If they want to sell they could just tell me.

What would you do? And if you're a landlord, would you have done this?

I’d move if I was you. It really uncomfortable to live somewhere where the boundaries get pushed like that. Find someone more reasonable.

Is it not better to have regular small increases, than none for a couple of years and then a big jump?

If you’ve got until April you could forget about the increase and start looking elsewhere, then in March your answer will be that you are not renewing. Could you afford the extra £40 for a bigger place?

@BessieSurtees

If you’ve got until April you could forget about the increase and start looking elsewhere, then in March your answer will be that you are not renewing. Could you afford the extra £40 for a bigger place?

Just about, if council tax remained the same which a quick Google suggests it would do. This place came with white goods though so I'd have to organise and pay for that, plus the ball ache of moving my modest furniture for it (I don't drive so would need help) for the flat to then look empty in a much bigger place with three items of furniture

Ugh I could do without this! Ten fucking quid

I'm incredibly petty about stuff like this so would possibly move, unless you are attached to the place. Sod's law though you'd move and the next place could be an unstable rental where the LL decides to sell up fairly quickly, you just never know. I might ride this increase out and keep an eye open for something else. Or suggest accepting the increase but not agree to a new 6 month stint and keep it rolling month to month? That way if you see something better you can just give notice.

They can speculate if they have so many properties, even with the risk that some tenants moving on the all round profits cover the empty properties.

Write back and say what you have here, you are requesting that the rent does not rise, say you have accepted other increases but feel this one is not necessary. stress you are a good tenant.

I am a landlord. We haven't put the rent up in 3 years. We have a good tenant and are happy where the rent is.

IMHO they used the £525 rent to attract a tenant, reasonable rent for the place etc, with every intention of increasing it. The sneaky regular small amount at a time is because, well, who moves for a £10 increase ?

A great many landlords have found it necessary to offer rent reductions temporarily due to Covid and tenants affected by certain employers suffering financially.

Have the tenant eviction protections due to Covid already ended ?

Let them stew for a bit and check out what else is available for the money.

I think you give 1 month's notice and the landlord gives 2 months, even on a rolling contract.

Definitely challenge it.
When I was a tenant, my landlord put my rent up from £950 to £1000 . I wasn’t happy about this, but accepted it.
Three months later, the landlord said that he wanted to put up the rent by another £25.
I challenged this and said that I couldn’t afford it. He didn’t put the rent up

I'd move. Not just for the tenner, but if I was in a tiny place that was difficult to rent I'd feel it was worth a move to somewhere else with more space.

Definitely a petty increase OP.

Say no. We don't increase rent on the risk of losing our lovely tenant. It would be even more silly for £10 a month, which after tax is nothing.

Is £10/ month the cost of the admin fee for the renewal? I know people have increased rent to cover the charges.

Let them stew until the very last minute.

Things might be different as March approaches.

They are stupid - it will cost them more than £120 to get new tenants in.

I think it's a reasonable increase? Their mortgage costs could have gone up or the service charge as well and they are passing that on?

Say no and say you'd like to renegotiate rent down as you've researched local area and seems higher than you need to pay (being a reliable tenant etc).

Also don't sign any further agreements - once the initial period is up you should go on rolling contact of one month's notice either side and no signing up for a further minimum term. If they want you to sign a guaranteed further period then definitely negotiate downwards.

@Fizzydrinks123

Say no and say you'd like to renegotiate rent down as you've researched local area and seems higher than you need to pay (being a reliable tenant etc).

Also don't sign any further agreements - once the initial period is up you should go on rolling contact of one month's notice either side and no signing up for a further minimum term. If they want you to sign a guaranteed further period then definitely negotiate downwards.

Interesting. So what would I do then, just not sign and not leave on expiry day, then the next morning pay rent as usual?

If the LL is planning on selling with a sitting tenant they have to be asking the going rate for rent to make it a decent prospect. That might be behind it.

Sounds like you'd be far better off (and maybe room for a sofa) in almost any other property. I would move if you can afford to (aware that's easier said than done!).

I'm a tetchy bugger so I'd be looking for something new. It sounds like you're ready for a change.

I think rents are going to be going up more widely. S24 has impacted landlords, along with covid, the threat of Capital Gains Tax changes and changes to S21. Lots of accidental landlords, who have mortgaged BTL properties are selling up. Fewer rentals and more people chasing them will encourage higher rents. Also lots of Landlords on mumsnet 'who wouldn't put rents up' are probably the type of landlords who also have other income, no mortgage against their BTLs or are very comfortably off. They are not running their lets in the same dispassionate way a business with 100s of properties will do.

I am one of these mumsnet landlords. I rent a few properties. For one property I haven't put the rent up for 8 years because the tenants are reliable and my costs hadn't changed. Similar properties now rent for £500-£700 more a month. I can't bring myself to put the rent up now but am not sure what to do when my extremely competitive fixed rate finishes in a couple of years and my costs rise considerably?! There will probably be a thread about me!

If you dont sign renewal it will go to rolling.
Rolling is usually 1 months notice if tenant wants to leave, 2 months if LL wants to give notice.

Also I'm almost certain they can only increase rents once every y12 months via a section 13 if rolling. If this is new tenancy they can possibly have a new rent, but if extending existing tenancy then the 12 month rule may apply.

Don't answer them yet. As if you say no, you're giving heads up that you're willing to be moving out from April...and you don't want it hanging over you all that time.

Put it to the back of your mind for now, in the meantime keep looking around and reassess the situation in March. For now, enjoy your Christmas.