WWYD or AIBU?

[springlenner]

We've been living in a rented house in Cambridge and paying a whopping £1950 pm in rent for the past year. We moved from th US so don't have any equity/money in the UK. We love the area, DS1 is in the local school and has made lots of friends in the area. We had decided to continue renting for a few years to accumulate a deposit and see what the market does.
The house we're in is OK, but on street parking on a busy road, only one bathroom and no storage whatsoever. I've made small improvements, putting up shelving and we finally feel we are settling in here. We can just about afford it and have moved loads of times over the past 5 years so want to stay in this neighbourhood.
Anyway, the time has come to renew the rental contract and the rent has been increased to £2000. £50 is a drop in the ocean when added to £1950 but I am livid! I mean its £600 more a year! The estate agent/ landlord has made no improvements to the house and when called for any issue take weeks or simply don't respond. Rent and buying costs for houses in the area have actually dropped in the past year.
There are two "better" houses in the area one is £2000 but is gorgeous but also on street parking. The other is £1800 not as nice a house but on a quiet culmde sac, enclosed garden,garage and parking. It's not as convenient either.
I'm going to look at both this week but I wonder if I'm being petty? I feel like the landlord is just being greedy. ( FYI I own and rent out my US house and always bend over backward for the tenants)
Do you think it's worth our while to move? I've moved loads of times so the work of moving doesn't bother me, but it's the costs really. Will it cost me more to move than I'm saving by getting less rent ( I plan to ask £1800 for the £2000 house as its been on right move for at least 6 weeks)
On principle I'm so pissed off at the landlord for being greedy he's already making plenty of money fom us but am I giving myself a world of pain by getting on my high horse about £50?
Sorry for the long rant!

hi. I think you're paying a fortune in rent and it sounds like the landlord is being unreasonable and banking on your not wanting to move. However, once you've seen the other houses it might help you make a decision about whether it's worth the move.

I would tell agent that the price increase has made you rethink about renewing the contract and that you plan to look round some houses and will hen get back to them after. Mention that this present house is OK but that you have seen some stunners for the same price.

Yanbu in my opinion, def shop around

Rents increase with inflation and not with house values. In the housing market we are in the demand for good rental property is high which always pushes up prices.
Go and see the other two houses and make your decision then, I don't think you can really get a feel for a house until you see it in the flesh. If you like one of the others then move. You could always speak to your landlord, as getting another tenant in will cost a lot more than the £600 in rent increase. Most agents in this area charge one months rent to find a new tenant.

Good point Heels. Not just the tenant finding fee either. Even it it takes just two weeks between the OP moving out and new tenants moving in the landlord had lost nearly a grand in rent. Go back and say that if they increase the rent you are seriously considering moving out.

Check your contract - sometimes annual RPI increases are written into the contract to provide for situations where a tenant/ landlord intends the rental to be long-term.

Definitely negotiate, though. Also, ask nicely when they will be round to do their 'annual maintenance check' or similar.... doesn't exist as such but it might put a rocket under their bum and you can pass it off as something you're used to in the US :)

OR you could agree that the rental increase would take effect after works x, y and z have been done - that might get the message home to them that they actually have to maintain the place. God, I hate renting ....

Thanks all. I guess Im not usually a bargainer but it's such a lot of money in the long term. Heels, thanks, you are so right ; when my tenant in my own house aked for a rent reduction I just had to say yes - the risk of leaving it empty, having to redecorate before renting again and it's a recession.
Rents have dropped 10-20 per cent around here too as houses are not selling and people are renting their houses instead. So when I came to look for a house a year ago there was only this house but now there are five or six ( from £1800 up pcm.
OK , I'll play hard ball!

What really annoys me is that I've spent money on the place, just basics, shelving etc but have also completely sorted the garden, which was a jungle and is now at least a safe- ish and pleasant place for my kids to play. Grrr!
Oh ya, and the kitchen is practically an outhouse!
Sorry.... Off on a rant! Narmada, I hate renting too. That's why we bought our American house not realising we'd have to move across the atlantic 2 yrs later.

I really don't get landlords that slack on maintenance. It is their investment, if you let things go it can cause further more expensive issues. Keep a property ship shape and tenants will want to stay. If tenants find a property falling apart around their ears they will soon move on. Afterall the tenant is paying for maintenance in their rental payment.

Spring from the point of view of a landlord, we have only once increased rent on a property when it has had a tenant in place and that is on a house that has been occupied by the same tenant for 8 years. We wait for a property to become vacant then we review the market before placing the house on the market. It is just too costly to have a house empty just for the sake of another few quid on the rent.
BTW you sound like a dream tenant, our gardens look like shit when tenants leave it is the biggest pain in the arse ever !

I think some agents do this automatically - I manage three rental properties but use an agent to find tenants. Without exception, the agents want to increase the rent by similar amounts each year (and proportionately it's much more, as the amounts per month are less) and I'm always having to stop them.

It's much better to have tenants stay than find new ones. I think the rental agents do this on purpose, because they can't lose - if the tenant stumps up the extra, the agents' renewal fee is larger, and if they move out as a result, the agents get an even bigger finders' fee. I would definitely question it - you've been a great tenant and they ought to be keen to keep you! Good luck.

How about seeing if landlord will waiver the rent increase for a long term contract? greedy sod Is it worth the moving costs?

What dalsy said!
I am sure this is the agent's doing and not a lot to do with the landlord!

Well the estate agent hasn't answered my email or my call. As usual. Off to look at two other houses in the area tomorrow. Sigh....

Don't forget you'll likely have to pay an agency fee for the new place, along with 'reference checking fee' and other spurious admin charges

Sadly Cambridge is a very costly place to live!

Bintang, I know, they have me over a barrel I think.... Yes, it is soooo expensive but it is lovely and we're lucky to be able to ( almost ) afford it. I was wondering about the reference checks. When we rented last year my company relocation did all the work so I didn't need references, and as I've owned my own home for 10 yrs in Ireland I don't have recent references, so only will have them from this rental. aaargh, renting sucks!

Bintang, I know, they have me over a barrel I think.... Yes, it is soooo expensive but it is lovely and we're lucky to be able to ( almost ) afford it. I was wondering about the reference checks. When we rented last year my company relocation did all the work so I didn't need references, and as I've owned my own home for 10 yrs in Ireland I don't have recent references, so only will have them from this rental. aaargh, renting sucks!