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?

I put one of my flats up. They hadn't had an increase in 3 years and gave notice. So my agents advised it was very competitive market so we put it up 15% when looking for new tenants and got an offer on the first day. I signed the contract when my existing tenants' new flat fell through and they asked if they could stay. It was a bit of a kerfuffle, but they were happy to pay the increased rent (the new tenants hadn't signed so I hadn't committed to them).
Another house I haven't put the rent up in nine years as the tenant has become increasingly disabled and I look at it as my 'giving back'.
Another tenant still isn't paying her pre-covid rent. She lost her job and her new job pays a lot less. I'm in two minds about this, as I am losing over £3000/year by her not paying the full rent and my service charge costs keep going up. It's a very large flat and she's been there over four years - by rights the rent should have gone up. I will probably sell it within the next couple years as my children will be starting uni and I will need some funds.
So I take each tenants needs individually and try to be as fair as I can, but I am a single parent and the rent is my main income and there is a point where I need to consider our needs first.

Our old landlord tried to increase from £1710pcm to £1960pcm, based on the fact that he hasn’t increased since before covid. But because we had no garden, mould in every room, a kitchen the size of a broom cupboard and a second bedroom so small the kids couldn’t play in it, we said a big fat no. Found somewhere so much nicer for £800 a month less, we have outdoor space and it’s a new build. My son no longer uses his inhaler daily. It was a no brainier to move and I thank goodness we did because if we stayed and paid that much, I would be panicking about our heating bill. More than panicking to be honest, I would need to get a second job.

@Sixmonthson you’re awesome, thanks for being such a decent landlord.

I personally think the rental industry is unethical. I don’t think making large profits of a necessity like housing, or energy, is the morally right thing to do.

@ChakaKhanfan glad you found somewhere better. Just so you know, LL can’t leave mould, if you report it to the council they are forced to deal with immediately.

I'm a landlord and rent our a large 4 bed semi with parking and garden in Oxfordshire. I've only increased the rent by £50 in the 3 years I have let it to a responsible family working in the NHS. In that time, the market rent has increased by a MINIMUM £400. My tenants are due to move out in January. I am not sure what to do. My mortgage has also increased but not as much as £400 so I think I will need to recover costs a little bit. I think the rental market is crazy because of the lack of properties..if landlords are selling that decreases rental availability even more.

if landlords are selling that decreases rental availability even more.

Yes, which is a concern in the short term but some of us renting are not doing so by choice and want to get on the property ladder. LLs selling in large numbers would bring prices down so some of us could be home owners instead. Which is a better outcome.

I look after my elderly parents rental house, it is their retirement income, l have not increased the rent for three years as l have excellent tenants, who paid throughout Covid and look after it well.
I could increase it by 25% easily as there is such a shortage of 1 bed houses and although l have a responsibility to my parents who are not wealthy by any means, but having been a LL for a long time good tenants are the holy grail...

Ours has gone up once in 10 years, by £100 a few years ago. It's now about 60% of local market rate, but it has had no work done in over 10 years bar a new fence that started falling over within 6 months, some basic plumbing that I had to redo because it was done badly and a small ceiling repair that we eventually had to organise (LL paid) after having a hole in the ceiling for over a year.
It needs a LOT of money spending on it (we were planning to buy it but now decided to relocate in a few years) and things like kitchen and bathroom are pretty grim (paint can only do so much).

In light of the above, I doubt it will be increased and if it is, not by much. LL owns a lot of properties but sells one every year, if someone moves out.

We could not afford market rate here now, we'd have to move (far enough that schools and jobs would have to change).

Most of the rentals I've seen coming up for sale where we're looking are being sold with tenants in situ, so aimed at other LLs. I would not want to buy one to live in, as may have trouble removing tenants (and would hate to do that anyway).

Wahine Toa
Yes, which is a concern in the short term but some of us renting are not doing so by choice and want to get on the property ladder. LLs selling in large numbers would bring prices down so some of us could be home owners instead. Which is a better outcome.

This is totally wrong l am afraid due to the shortage of housing.
If all LL sold it would not be enough to move the market noticeably down, for the last 3 years since the punitive tax changes came in 250,000 LL have exited the market each year and house prices have continued to rise.

Only building far more homes than is possible would fix this or a worldwide economic event, (which is looking possible)

Just speaking to DD at university. All the students she knows have already been advised rent will go up next year. None of them can afford the new rent! So, they will all be moving, but where?? Crazy, crazy, crazy. Many are now £200+, and this is not even London.

That's £200 per person, per week btw.... even in multi occupancy houses.

I haven't put mine up in over 5 years, we could get 20pc more for it now. We do have the best tenants they have decorated and made the house their own, and they have never been late paying the rent.

I became a landlady the year before Covid. Have not increased rent since because of Covid and now cost of living. The local market has increased significantly but I like my tenant and she’s a single parent working in low paid public sector role.

I haven't put the rent up for about 7 years. We make enough to absorb the slightly higher mortgage costs when they go up and the tenants have higher bills in general so it would feel unfair to also up their rent when it isn't absolutely necessary.

@Manekinek0 @HappyHedgehog247 @Snoken you are all so great! We had a house before this one where we spent so much money and time transforming the garden into a real asset, it was the worst in a very nice street when we got there and even the agent said it was amazing when we finished. The LL however wasn’t that grateful and had the house in disrepair including a leak causing water to run down walls! Left it for 5 months like that and put up rent during the start of covid, so we moved!

I have a rental as a landlord. We've not increased the rent in five years. We have also updated windows and the boiler and are hoping to do the bathroom and offer to redecorate a couple of spaces.

I'm very lucky to have such a lovely landlord, my rent has increased by 25 pounds in 3 years. I do worry as I did see a place rent out recently on my road for 200 pounds more than I'm paying. My landlord wanted a long term tenant so I'm hoping he still keeps me on as I keep the property spotless and have never defaulted on a rental payment.

I have two mortgage free rental properties. I haven't increased the rent for either of them. I may do if either of my current tenants leave.

£800 less a month. Wow

that’s amazing

was it local to where you lived before

3bed semi here are about £1700 a month

5%

This happened to me. The agency raised my rent but my landlord told them not to so I had an email telling me not to increase my payment. I was gobsmacked and most grateful. I'm sure it irked them.

£800 to £850 this month

We moved from Hackney to Walthamstow. Prices in Hackney are obscene now, pop stars and minor royalty live there so mere mortals like me and the pensioners down the road have to move.

Ours has gone up £25 to £725. To be honest that's low for this area and they could easily get £900 a month
However we have been here 5 years. They don't have a mortgage so l think they just happy to have long term tennant's who pay the rent on time. This flat is for thier retirement fund l think they will sell in a few years. Until then they said they will only put the rent up £25 a year to cover the ground rent charges going up. God knows what we going to do when they sell no chance of us affording to buy anywhere atm