FrippEnos, I wonder if you’re thinking of someone else’s comment about amounts of rent increase. I didn’t suggest LLs should raise rents excessively or comment on sizes. It’s hard to know about individual cases or reasons for what look like large increases. It could be greed, or it could be that a LL held rents at a particular rate for many years and are also facing significant costs in terms of ground rents or service charges or other costs. It’s hard to always know the reason for increases.
However, most LL look to limit increases to existing tenants, for the reasons I mentioned before. Holding onto existing good tenants is good business. They are reliable when new tenants might not be, plus changing tenants involves all the costs to the LL that I mentioned before. Many LLs don’t increase rent to existing tenants at all and many others won’t for maybe up to 5 years. When that tenant moves on and the property is read retired, that’s when the price will go up.
It is difficult because rent takes up a very large proportion of most people’s income, but people need to expect rents to rise over time. Yes, property is an essential item, but so is food and many products and people don’t seem to complain so much about business owners raising prices when they sell food or clothes or whatever…but LLs who are essentially running a business, seem to be heavily attacked for price rises. I think it’s totally reasonable to expect LLs to provide good quality property and to maintain it (those that do t do this are charging for a service not provided) - it’s what people pay for. But it is a business. It has to make money and people aren’t doing it as a charity. LLs need to know they’re dealing with people and their lives and to treat tenants like people. That might mean being understanding when an otherwise good tenant who has always paid on time, is late paying rent one month. It might mean that when giving notice, if a tenant asks if they might be able to stay another 2 months, onsidering it carefully and accommodating the request if at all possible. It should mean that when there is a rent increase, if a tenant asks for it to be a bit lower, to seriously consider it. Whether it can be accommodated or not though, is a decision the LL will have to make.
I agree with EvilPea that it’s very difficult especially with a family being in rented. The insecurity of renting has a big impact and yes, lots of people will pay big increases to avoid having to move.
And I agree that most people will prioritise housing and stability over other expenditure. They will cut back on other items first if they want to stay living where they are. Moving is stressful and expensive. If people like their property and have found the LL to be responsive to maintenance needs and to leave them to enjoy the property, and especially if there is t much available locally, many tenants will choose to buy less clothes, have less holidays, buy cheaper food or make other cut backs to avoid moving. But of course everyone has a limit. Many people can only cut back so far on other things. There comes a point where people can’t cut back and do have to move.
As I said before Op, I’d definitely email the LL again. Offer slightly more rent than you offers when saying you’d meet them halfway. Remind them how long you’ve been there, that you always pay and look after the property. Ask if they would consider letting you stay for the rent you suggest, rather than risking an unknown tenant, and the need to spend money on getting a new tenant and any maintenance work, plus an empty property for a period. Unless that LL has a particular new cost they are facing which means a huge rent rise is vital, or unless the rent is already well below market rates, most savvy LLs will seriously consider the offer. Engage with them a bit more.
Hope it works out.