Landlords raise rents to cope with rising costs, survey shows
2 years ago | 4 comments
Rent increase according to inflation?
9:10 AM, 15th November 2023, 2 years ago
40
Hi, I have asked my tenant for a rent increase from £800 to £1100. But she is blaming now that there is a clause in the tenancy agreement which says that the rent will be reviewed annually and be increased according to inflation.
So this should only be £855 as the inflation rate is now 6.8% Is there anything I can do, please?
Thanks,
Tuly
Comments
Have Your Say
Every day, landlords who want to influence policy and share real-world experience add their voice here. Your perspective helps keep the debate balanced.
Not a member yet? Join In Seconds
Login with
or
Related Articles
Tenants finding rent payments harder to afford – ONS
2 years ago | 2 comments
Tenants forced into signing ‘rent tracker’ contracts
3 years ago | 24 comments
Member Since March 2023 - Comments: 15
12:00 PM, 15th November 2023, About 2 years ago
Reply to the comment left by RoseD at 15/11/2023 – 09:55
The market rent in this road for a 3 bedroom flat is £1300 per annum.
Member Since March 2023 - Comments: 15
12:05 PM, 15th November 2023, About 2 years ago
Reply to the comment left by Jo Westlake at 15/11/2023 – 10:41
Thanks.
It does not say which inflation index.
Member Since September 2022 - Comments: 198
12:21 PM, 15th November 2023, About 2 years ago
Reply to the comment left by Tuly at 15/11/2023 – 12:00
It’s irrelevant if your contract stipulates inflation increases. Also….is this rental based on hikes over last 12 months because why else would you be at £800. At the end of the day it’s your call….but as stated by almost every reply this is not a professional approach and in line with bad landlord management.
Member Since November 2023 - Comments: 2
12:38 PM, 15th November 2023, About 2 years ago
Reply to the comment left by RoseD at 15/11/2023 – 09:55
It would depend; if the landlord has been subsidising the tenant for awhile as many landlords do I fail to see what your issue is.
Member Since November 2023 - Comments: 2
12:42 PM, 15th November 2023, About 2 years ago
Reply to the comment left by Jo Westlake at 15/11/2023 – 10:41
Technically speaking if there has been a clause for many years and the landlord has not exercised I fail to see what the issue is implementing the cumulative increase. It is mathematically correct and you should view the lower amounts in the periods before as rebates.
Member Since October 2022 - Comments: 402
12:43 PM, 15th November 2023, About 2 years ago
I’m guessing you haven’t increased the rent for a while. Sadly that’s a mistake. Stick to the agreement you made and increase it every year from now on.
Member Since January 2020 - Comments: 559
1:53 PM, 15th November 2023, About 2 years ago
Reply to the comment left by James Smythe at 15/11/2023 – 12:42
How the review can be impemented will be (should be) set out in the tenancy agreement. Any advise is a guess unless you’ve read the agreement. I agree that there should be a starting point and end point (the review date) with the increase being implemented across those dates. However, the OP has been vague in their question.
Member Since August 2023 - Comments: 11
1:56 PM, 15th November 2023, About 2 years ago
I have been caught up in similar spots before. They are good tenants, so you don’t review the rent annually.. thinking you will correct to market when they leave. If they end up staying longer term, you are faced with imposing a massive hike or continue losing out to market value.
Best practice is to simply review every year.
Member Since September 2022 - Comments: 198
2:17 PM, 15th November 2023, About 2 years ago
Reply to the comment left by James Smythe at 15/11/2023 – 12:38James, I don’t have an issue and responding to what we have information on. In fact I think I’ve said it’s the landlords call. No mention of any subsidy!
Member Since September 2023 - Comments: 335
2:40 PM, 15th November 2023, About 2 years ago
Suggest you have an independent fair rent assessment, a Tennant of mine did this when they complained the rent was too much , the assessment increased the rent to market rates. Ps my average rents in my properties at the time works out at £90 a week hardly call that high to be honest l havebeen in prs24 years and are leaving the whole prs it’s not viable long term in my opinion.
.