Landlord increasing rent, can I negotiate?

[BadClown]

Just had a letter through from my LL saying he wants to increase my rent by £75 a month. It doesn’t sound like much when I say it like that, but it’s a huge amount of money for me at the moment and I’m really not sure I can afford it. Has anyone received notice to increase rent and managed to negotiate? Is it possible to refuse? I’ve only lived here just over a year and finally got the kids settled and in school, I don’t want to move, but I’m really panicking about finding the extra money for this?

Yes you're right, it's awful isn't it. My tenants are paying for my round the world trip. Here's a shot of Brazil.

Your landlord can increase the rent as often as they wish with your agreement outside of the fixed term. They are not supposed to increase rent within the fixed term - Housing Act 1988. Without your agreement they need to serve a section 13 notice and give you at least one rental periods notice, which for most people is 1 month. I only increased by 5% this year and took a hit on my own income because I have very good tenants and want to keep them, your landlord may feel the same and split the difference.

I'm neither a renter or a landlord, but I was under the impression that renting properties is a business.

Rentals locally name their price and get gobbled up by people very quickly.

There is a severe shortage of rental property and huge ever increasing demand.

Thanks for the advice everyone. I called today and suggested £50 extra this year, and then £50 extra the year after to even it out (they increase prices every two years) they’ve come back and said that they’ll agree to the £50 extra for both years so not quite the hike I was expecting! Phew!