Hi, we have rented out home for almost 2 years now, all fine and very average for area we are in (far north).
Yesterday I got a text out of the blue from the house owner, saying that he was fed up with the letting agents fees and was terminating the contract he has with them.
He also said that he plans to increase the rent from £900 pcm to £1250pcm as "everything is going up in cost"
What on earth do we do??
We have never had an issue with anything, had a couple of leaks over the last 2 years, and a valve on a radiator replaced.
During house inspections the letting agent commented that it was the best kept rented property they had seen, I can't understand how such a hike can be justified, any advice how to respond?