11:54 AM, 21st March 2019, About 2 years ago 9
I am looking for help please with suggestions for best wording to explain a larger rent rise than normal for my tenants this year.
I have 2 properties, a house that I rent for £998 and a 2 bed flat for £650. Both are good tenants and cause no issues. I did have 8 properties, but have been selling them off when I saw the dark clouds coming.
I normally raise rents in line with RPI, but this year, with all the changes that have been enacted and those in the pipeline I feel that a larger increase will make the figures stack up better. Just wondered what others are doing.
I am not affected by selective licensing yet, but with the removal of the 10% wear and tear allowance and the removal of tax relief being phased in, also the ban on fees and talk of a necessity for an elec safety cert. Amongst other things.
All this raises costs and reduces yield so what is the alternative to raising rents over RPI to make this viable?
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