Rent hasn’t increased at all in five years

[Tryingtogetbacktomysize10s]

Probably a silly question but should it?

It was just an off hand comment

Yeah it was. Flippant.

@UhtredRagnarson

It was just an off hand comment

Yeah it was. Flippant.

Someone’s p1ssed on your cornflakes this morning.

Someone’s p1ssed on your cornflakes this morning.

Or you just made a flippant comment?

I haven't increased my tenant's rent for three years. She's a good tenant, I fix things when asked and I'd like her to stay.

I have very conflicted feelings about being a landlord (for this one house) so I try to be the fairest/best I can.

My landlady was lovely. She only put it up a couple of times in the ten years I rented from her. And only by a small amount. She still charged well under the going rate for the area. I bought the house off her in then end and she gave me a good deal for that. Some landlords are just nice people!

@UhtredRagnarson

Someone’s p1ssed on your cornflakes this morning.

Or you just made a flippant comment?

I mean your the only one who has felt the need to address it, I think the 😂 made it obv what kind of comment it was.

Have a good day

@Flappityflippers1 hope it works out for you. It saved me a fortune buying the house I'd rented!

To be honest it is the repairs meaning that I might need to increase. I’ve recently had a baby and it’s my main source of income just now (this will change of course.)

I don’t wish to put the tenant in a difficult position. I can’t see her moving out or if she did someone else would move in promptly - don’t mean that callously it’s just how it is.

I mean your the only one who has felt the need to address it, I think the 😂 made it obv what kind of comment it was.

Have a good day flowers

I mean yours is the only comment I had issue with.....

We rent out a property and have increased the rent once in 10 years - and that was only because the letting agent said it was at way below market rent (only put it up by £25 per month).

We've had the same tenants for 10 years, they treat the property nicely and I hope they think we're good landlords.

Some things like happy respectful tenants are worth more than more cash!!

Arghh it’s Property and DIY, not AIBU people

Nobody said YABU

It was the argument!

@Tryingtogetbacktomysize10s

To be honest it is the repairs meaning that I might need to increase. I’ve recently had a baby and it’s my main source of income just now (this will change of course.)

I don’t wish to put the tenant in a difficult position. I can’t see her moving out or if she did someone else would move in promptly - don’t mean that callously it’s just how it is.

Have you improved the house at all in that time?

If not, is it reasonable for the tenant to pay more for a home in worse condition than when she moved in?

Even though you may find new tenants promptly, you might end up with an empty house for a month by the time current tenant has moved out, you’ve done viewings, repairs, updated/decorated and got someone new in.
Say you want to want to increase the rent by £50 a month, but you lose £500 by having it empty for a month plus agent costs. Is it worth it?
Also it’s a gamble replacing a reliable tenant with an unknown.

Assumptions darcy [shocked]

It’s an EXTREMELY well kept home.

I'm a landlord and I've had my tenants in for 7 years and I've never increased the rent. They're good tenants, pay the rent on time and I haven't had any trouble. I don't see the point to be honest. When they leave I will reassess for the next tenants but until then it'll stay as it is.

But it does seem a bit barmy that some are saying that the price should never increase.

The tenant moved in in 2016. The rent is just over £500. Similar properties are being let for around £600. So if she did move out she’d probably still be paying more.

In any event I’m just wondering if this is something the letting agents should be sorting really.

I do understand that POV green

But it’s entirely possible my tenant could stay there for the next fifteen years, do I never increase the rent at all for two decades?

@Tryingtogetbacktomysize10s

Assumptions darcy [shocked]

It’s an EXTREMELY well kept home.

What a weird response

@Tryingtogetbacktomysize10s

It was the argument!

People are allowed to disagree on all boards here on MN.

We’ve clearly misunderstood one another then darcy as I found your response weird, to be honest. I apologise if I misread something, am juggling a baby and posting here, but it did seem that you were saying the property was in a worse state of repair than when she moved in.

It’s always been well kept, it was my home for a period of time, repairs are done promptly. But it is actually a bit of a weight around my neck at the moment.

I could look to sell and I may do that but I don’t actually want to leave the tenant high and dry either so I was wondering about slightly increasing the rent. I’m disappointed the agents haven’t been on this really.

Tbh it only seems like you thought of an increase when you saw local property prices, not because your costs have grown.
Don’t be too greedy, also assuming it could be easily filled if your tenant couldn’t afford the increase is a bit callous, bear in mind this is their home.

I think Darcy's saying that the house is five years older, as are carpets and any fittings. If you move into a newly refurbished place because it's all new and shiny, you may not want the rent to go up when it's not new and shiny.

I'm not sure that's a big factor personally, but I can see the argument.

I've been a tenant and had rent increases - they are to be expected but I think they were all instigated by the LL (not the agent).

What really helps, though, is:

• a long notice period that an incraese is coming (in most cases I had 3-6 months warning)
• it going up by a little each year, rather than taking big jumps every few years

Might it be possible to take a step up in 6 months and then give notice that it will be increased by 2-3% 18 months later and every 12 months after that?

I’m disappointed the agents haven’t been on this really.

The agents take instruction from you. It’s up to you to tell them when you want a rent increase.