If you rent, how much has your rent gone up by?

[Totallyfedupnow]

Self explanatory really, if you privately rent…has your rent gone up this year and if so by how much?

DD's landlord tried to put hers up by 20%. She politely pointed out that the contract has a 5% uplift, which they were happy to pay. She also noted that he had not yet replaced the single glazed windows, nor cleared the garden of all his building materials, so that they could actually use it.

He has dropped the request, not even requesting the 5%

We ( myself and three siblings) made the decision not to increase the rent on my mums house this year. At the time, Mum was in a care home so the rental income offset her fees, but as we were happy with the tenant, we felt that it was not right to raise the rent at the end of the first one year lease. There is no mortgage on the house so no increase in costs, she pays her rent on time and has not made unreasonable requests for repairs.

Mum has since died so we will be selling the house at the end of the lease next year and just hope that the tenant continues to treat our house with respect until then.

@Ilovetocrochet that’s good to hear!

Opposite way around. We rent out our house after relocating. We're on a fixed term mortgage for another 2 years so we won't be putting the mortgage up at all. We make around £50 a month after costs and tax, which we save to cover any future mainainance costs such as a new boiler or just general upkeep.

Would not feel right at all to put it up just to earn more profit because we can, even though if the boiler does go or the roof needs repairing then the rent won't even cover our costs, but long term our tenants are still paying off our mortgage.

Once our fixed term comes to an end though, we will either have to sell or put the rent up because we can not afford to cover the gap between rental income and an increased mortgage.

So you'll have a mix of landlords: accidental or one-off landlords covering existing mortgages where increase in rent will depend on their mortgage increase, their own cost of living increases and their own greed; accidental or one-off landlords where there is no mortgage (often inherited) so rent increases will be based on their own cost of living increases or their greed; and landlords who do it as their income source/ business who will often have multiple properties, where rent increases will be either based on increased costs to their business (mainly interest rate rises if the properties are financed through mortgages or loans), or just their greed (I. E. Will put up rent because they can so that they can make more profit)

So long story short, increases will either be necessary to cover the landlord's increased cost to either maintain their current profit, or they may end up still earning less even after a rent increase. Or increases will just give the landlord more profit as they take advantage of the current shit-show

I think i am pretty lucky as mine last went up around 7 years ago and that was by £25 a month.

Mine went up by £200/month as of 1st July 22.

We've had to move twice in a year due to landlords attempting to sell. Our rent has gone up by almost 50% to £1200 a month due to the market. It sucks.

It hasn't. It's remained the same for the past six years and it's very cheap for a 3 bed.

Our landlord put ours up by 10%. Managed to negotiate to 8.3%.

Mine has gone up by £25 a month from £595 to £620, I’m glad I don’t have a mortgage right now.

Nothing. My landlord decided not to increase due to everything else rising. This was July and lots has changed since then so I presume they'll be an increase next July.

That's a jump!

Its gone up by £85 this year, although to be fair it's still under market rent (although the flip side is the landlord does nothing around upkeep etc .so it's swing's and roundabouts!) Was about to buy a house but that's not happening now due to interest rates so will continue as we are for now and hope it doesn't go up again.

My landlords are completely fab... doesn't mean I enjoy renting after being a house owner since age 18 .. (now 55j but divorce made ownership impossible.. I earn £2200 and 1k goes in rent. I could buy my home for a mortgage of £650 if only I could save a decent deposit.. but the rent prevents any savings ..

Mine hasn't gone up but it'd 495 a month. And it's hard work really paying half on maternity leave when you only get statutory pay. It's bollocks

Not yet, but landlord has already given me a heads up that after the current tenancy agreement expires, he'll be upping it. Currently paying £700pcm.

Mine increased by around 5% in May, I only resigned for 6 months so desperately hoping it doesn’t increase again, I’m at breaking point financially already.

The letting agents wrote to me to tell me it was going up by £25 a month, the landlady got wind of it and told them (in no uncertain terms) to put it back down again. She is more interested in good tenants than she is in "an extra bottle of wine a month", she's a great landlady and I hope, in return, I am an excellent tenant.

My rent increased from £1030 to £1133 Feb 2022. I am dreading what the new increase will be. I have no doubt it will go up by at least £100 given how much flats go for in this area currently. Large block of flats owned by a corporation (who are making a VERY healthy profit according to the accounts they've filed with Companies House-greedy bastards!)

Mine was put up by £100/month earlier this year.

Mine was increased by £40 per month. No increase the year before. A new boiler did have to be fitted earlier this year

thank you everyone who replied.
I am an accidental landlord. My tenants are very nice people, in fact so nice I let them have the property for about 10% less than I could have got from some of the other applicants.

However since I let it the central service charge on the property has gone up 10% and it is likely to go up by another 15% or more early next year (mainly because of energy bills). Also my mortgage costs are going up which is terrifying.
When I first did the lease a year ago, I used a model lease which is designed by the Government for use by responsible landlords, and it had a provision to increase rent by up to CPI after one year. CPI is currently about 10%.

Do you think it’s OK to put the rent up by the full 10%? I don’t want to, but I am just worried about covering my costs.

Just in case it is relevant, the tenants earn quite a bit more than I do. I’ve previously asked if they want to buy it off me but they said no, they are OK renting for now. I suspect they are waiting for the property market to fall a lot before buying anywhere.

10% is a massive amount to put it up after just 12 months. I’d think 5% now and then 5% further down the line would be fairer. I’m not sure why you let it for 10% less than you wanted in the first place, but at that point the tennant could easily have walked away, to put it up now is pretty unfair as they are settled and forced to either pay it or move (which has additional costs itself).

I’m bracing myself. We moved at the start of the pandemic, not really our choice, and the LL knew we and others were in a fix so had the rent over what it should have been by about £200 a month. We accepted it as it was the only house available where we needed it but it’s not been put up since. They have several properties and it’s mortgage free so I hope he doesn’t but we are worried. We’ll have to move if they do and get a cheaper place, I keep an eye on the market locally and we would get another same price or less because it was over market rate. It’s a bad location for most here so we are hoping they’re thankful to have us and have it rented out.

It wasn’t 10% less than I wanted when I let it - it was 10% less than I was offered by other people. At the time I had no idea costs would be going up so much so quickly, otherwise probably I would have asked for more.