Are most landlords under charging?

Are most landlords under charging?

11:55 AM, 6th November 2015, About 6 years ago 85

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Are most landlords are under charging

There is significant anecdotal evidence that most landlords outside London do not increase rents until there is a change of tenancy.

Property118 would like to investigate this.

With upward pressure on costs of compliance as well as the new tax changes it is likely that landlords will abandon this practice , but we would like to hear from landlords who have had the same tenants in a property for three or more years and not increased rents.

Please post your comments below.

This article will be shared in Google News and on Social Media in the hope that Press and other National and Media will pick up on the realities of renting.

Hopefully, we will gather overwhelming evidence that landlords have NOT generally increased rents during a tenancy but feel they will be forced to do so in future.



Comments

by Carol Thomas

21:38 PM, 10th November 2015, About 6 years ago

I too haven't raised rents until recently on two of my properties, both at new tenant stage. However, they are both £10 to £15 pm lower than others in the area. I have one that has been there for nearly five years, but he has recently breached his tenancy in several ways, so he has had notice to clean up his act or move on. That property is also below the norm. I am currently trying to sell my one bed propery - it was a great little home but tenants usually moved on after having saved up for a deposit and it was costing me a small fortune to replace them. I intend to speak to my agents and ask them how I should proceed in light of Clause 24. These four properties were purchased as empty, undeveloped properties and my husband and I spent a lot of time and money upgrading them. This was done to give me a pension as I had to stop work early due to physical disability (too much hard work developing properties!). My pension is now disappearing fast and I am so disillusioned by the Conservative govt - I will NEVER vote for them again.

by Michael Barnes

0:07 AM, 11th November 2015, About 6 years ago

One property 13 years 2 increases; latest last year.

One property 5 years, no increase.

Others seem to turn over every 2-3 years, so no increases with sitting tenants.

by Roanch 21

14:06 PM, 13th November 2015, About 6 years ago

I like a nice simple life which means I like nice tenants. The sort of people who look after things and don't punch holes in plasterboard walls. The sort of people that pay their rent on time rather than the ones that always have an excuse due to their latest crisis. They report a small drip to me early on rather than wait until the ceiling caves in to tell me about it.

Several of my nice tenants have been with me for over 5 years and their rents have never been increased. Basically I don't want to do anything that might scare them off. They are happy and I am happy so it just carries on.

However I always take the opportunity to bring rents up to market rent whenever tenants change. Or where tenants are costing me money in terms of damages or my time.

I rent 15 properties out and all the rents will have to increase next year.

Maybe we should all increase our rents on the same date? Like a protest but also to get some media attention for our reason.

by Dr Rosalind Beck

15:10 PM, 13th November 2015, About 6 years ago

Roanch.
I think that is a really great idea. I wouldn't be able to do it for all my tenants as I have already done some increases and I think you can only increase the rent once a year - but I think this could be a real goer.
Some people had suggested issuing eviction notices all on the same day - which I would never do - you can't treat tenants like that. But a rent increase is in an entirely different matter. We should think about what date this should happen. Maybe exactly one year before the new rules come in as then we could do the same the following year(s).

by Luke P

15:25 PM, 13th November 2015, About 6 years ago

I'm game for that. I expect it would speed up the bringing in of any rent control measures that are probably being cooked up at this very minute, but I think they will come in time whether we act or not.

We live in a capitalist, market-driven economy. We should be allowed to charge what we want (just as a shop selling goods can price items at whatever they please). If those prices are too high then market forces will correct them soon enough.

You just can't have this both ways.

by Mark Alexander

15:56 PM, 13th November 2015, About 6 years ago

National annual rent increase day - I think the press will love that.

I suggest April 1st for obvious reasons.

We could campaign for all landlords to adopt this and to sign up to serving section 13 notices on the same day every year, together with a standardised letter template explaining why the rent increases are being applied (clause 24) and of course some letter templates for the affected tenants to send to their MP, local council housing officers, Shelter and the likes.
.

by money manager

16:00 PM, 13th November 2015, About 6 years ago

Reply to the comment left by "Luke P" at "13/11/2015 - 15:25":

You are right but political dogma and consumerist pressures drove approximately 220000 self employed life assurance salespeople out f the business and enforced the 1% Stakeholder charging cap on pensions and subsequently banned commissions altogether. There are now only around 25000 financial adviser and all qualified to a higher standard but financially inaccessible to many and invisible to the majority. Never say never when it comes to a government's capacity to totally screw up.

by Lorraine W

13:36 PM, 14th November 2015, About 6 years ago

So far I've never put rent up while I have a tenant in place. My longest tenant has been there over 5 years, I have another that's been there 4, they hardly ever bother me and pay rent on time so I'd hate to give any reason for them to start looking around for something better. It costs so much to get a new tenant plus any void period. I'm not sure what we'll do in the future.

by Trendo

15:30 PM, 14th November 2015, About 6 years ago

I have long term tenants that have never had a rent increase, i put others up on tenant change or new tenancy . that is until this year when i started issuing s13 notices.

by Graham Durkin

17:35 PM, 14th November 2015, About 6 years ago

Most of my tenants are L.H.A.and their top ups have generally remained the same,however I would like to propose an increase to my tenants but I believe I have to issue a Section 13 notice first ,the tenant has then to agree to the increase.As mentioned previously people on Benefits will struggle to pay, also if they refuse then the process could be long winded having read the legislation as they can appeal to a rent committee who compare the local rent charged, I then could issue a section 21 ,then take them to court for eviction is it all worth it,the local authority informed me that L.H.A. rates are now frozen for the next 4 years so this may very well push me into making that decision.


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