Landlord wants to increase rent by 20%

[wilderthan]

I moved into a flat about 8 months ago.
I have a one year contract.
I've always paid rent on time.
My landlord has just informed me that he'll like to increase the rent by approximately 20%.
I definitely can't afford it. The new rent will be about 80% of my salary. I'm literally living from pay check to pay check at the moment with my rent taking most of my income

I'm not a regular poster, so not sure this is the right AIBU kind of post.
Please I need advice. What are my rights and how should I respond to them?
I've had a nervous breakdown since the landlord told me this.

Have you asked Shelter? Look on their website for starters.

To be fair to your landlord (I know it doesn't help you), his or her mortgage may have gone up considerably.

I looked at quotes for a property I need to remortgage in 2025 and they were around 20% more.

Is that at the end of the 12 month contract? It’s bloody hard / you may have no alternative but to move at the end of lease

Pure greed.

Well no, not necessarily.

Jeez. Sorry OP that’s awful

If the buy to let mortgage interest rates tripled in the past year I can't see any landlord who has mortgaged property not raising their rent.

Legally he can only put the rent up annually. It's been 8 months. Go on Gov.uk and the section on private rentals for your rights as a tenant. Also, admin fees to renew a tenancy agreement arent legal any more. If you opt out of signing a new tenancy you just automatically go onto a rolling month to month shorthold tenancy. HTH.

My advice to you (being a landlord) just say I can't pay. It's so problematic to kick someone out that he will just back off.

This is why BTL mortgages shouldn't be allowed. If you want to buy a property and rent it out you should only be allowed to if you have enough money to buy it outright. It's disgusting to expect someone to take on the burden of YOUR mortgage.

Sorry OP, it must be awful.

Is it an option to move when your lease is up?

Bollocks.
That is not the problem or the solution. I have a property that I rent out, and the mortgage is paid off. But I would be a mug not to charge the going rate. In fact I try to be a good landlord and not increase too much, but it is my sole income during early retirement.

😂

So what is your rent currently, and is the 20% increase fair compared to other rents for similar properties in the area?

The LL cannot raise the rent in the fixed period so you at least have 8 months.

If the 20% would be more than other properties, then I'd suggest moving. If it's in line with other properties, then I would inform the landlord you cannot afford this, and offer perhaps 5%? They obviously can decline, which means you will end up with rent arrears.

Do you live alone or with children/partner? e.g. is it possible to find a cheaper area or house share? (easier when you don't have kids).

Exactly. Landlords don’t do it for fun and games, they do it for an income.

No, I haven't looked but will do so now.
Thanks

My Landlord inreased my rent from £1180 to £1450 for a one bedroom flat🫠

Has the LL said when they’d like to increase the rent? If your tenancy doesn’t say anything about rent increases then they’re not allowed to increase the rent until your 12 months is up. Saying that though, they’re within their rights to up the rent before you sign a tenancy renewal or if you go onto a rolling contract.

Try and negotiate but if they don’t budge then you’ll have to look around for somewhere affordable. I managed to negotiate the rent increase from £1500 to £1450. As if that did anything!

,Also, admin fees to renew a tenancy agreement arent legal any more. If you opt out of signing a new tenancy you just automatically go onto a rolling month to month shorthold tenancy*

Is this the case for landlords too?

They were vague, almost implying that the increase will be with immediate effect. I think they are testing the boundaries to see whether I'd just agree.
I usually have difficulty finding housing in my area, so I really won't want to be put in a position where I have to begin looking for a new place. I only just began to feel settled in my current house.

Even though they increased the rent right when I moved in?

Nobody has it harder than landlords

Are you in England? Have you put your finances into Entitleto website? You may be eligible for some benefits towards your rent, depending on wages etc.

OP have a look on your tenancy terms and conditions as it should have on there the max percentage the landlord can up the rent by. Ours if 8%. Ours just went up by 5%. Also the first tenancy most tenants have is fixed for 12 months and can't be changed until the 12 months is up so check when the LL is wanting the increase to start from.
Make sure all correspondence you have is in writing.

Are you uk? I believe it is a max rent increase of 9% per annum in uk.

Thank you for this. Very useful advice.

I'm worried he could then give me a notice to leave when my contract ends in a few months. That will be devastating.