Rent increase for v longstanding hermit tenant?

Rent increase for v longstanding hermit tenant?

14:48 PM, 31st October 2022, About 2 years ago 13

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Hello, I have a tenant who has been with me for 20 years or so (AST) in a 2 bed flat. He lives like a hermit and over the years the place has got v dirty and messy.

I’ve done what I can or need to; new boiler when old one became unsafe according to my gas engineer. I’ve encouraged him to get a cleaner in. I also took chance to upgrade radiators and TCVs/room thermostat in prep for EPC(C). It has an EICR.

The trouble is although I’ve made periodic increases, the rent is now a long way behind what would be market value if the place was refurbished but it would need a major refurb (inc new kitchen, bathroom etc) Prob £40K. The current rent is £1300 pcm but refurbished would be £2K. I don’t want to give him notice but the area is beginning to outgrow him price wise (zone 2 London).

This has come to the fore more recently as inflation and rents surge but the discrepancy is getting to be too much and after all this is a business and not a charity.

Thoughts?

G


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Comments

Reluctant Landlord

11:42 AM, 3rd November 2022, About 2 years ago

Reply to the comment left by Joe Armstrong at 02/11/2022 - 22:56
ditto. If a tenant is happy to live in what they have then I am happy to go with it. If any tenant of mine asks for upgrades or updating I am happy to oblige but make it clear that this will involve a rent increase to accommodate for it as its to their benefit not mine.

If you think that his standard of living is becoming and issue (on the basis of his health and detriment to the property) then contact social services. At least log your concern. You can given him the contact numbers for the same and encourage him to make contact. They can provide cleaners at a lower cost/extra assistance if he needs it.

Other than that let sleeping dogs lie. Do you regular LL checks and keep on top of your legal requirements (which it sounds like you are)

Tenants will live how they live regardless!

David Houghton

18:49 PM, 4th November 2022, About 2 years ago

Reply to the comment left by acctsol at 01/11/2022 - 11:28
Agreed. Not only the payback on Refurb, but a new tenant is always a risk. Only in very exceptional circumstances would we get rid of a paying tenant, even if we could raise the rent

Jerry Carlton

7:17 AM, 5th November 2022, About 2 years ago

Reply to the comment left by Jeff Niehorster at 01/11/2022 - 10:31
Spot on observations; do the minimum and raise rent each year.

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