Renters’ Rights Bill could drive up student rents
2 years ago | 8 comments
Rent increase now or just before RRB?
12:01 AM, 3rd October 2024, 2 years ago
12
Hi, I have a few rentals coming up for annual rent reviews between Nov 2024 – Feb 2025.
In light of the Renters’ Rights Bill (RRB) the implications at this stage seems to be heading towards the landlord having to register with the Ombudsman and also applications to the national landlord database. I presume this will be charged on a per property basis. As ever Labour plans lack the proposed detail and there is no idea of potential cost.
Do I just review and increase to current market rate now, or do this nearer the time when there ‘should’ be more info about the additional costs involved (and therefore a more qualified rent increase applied)?
If it is true that more LL’s do sell before the RRB comes into effect, inevitably supply will drop and so rents will increase. Wise to hold out or just increase to take an educated guess as to what MIGHT be the costs now and apply an increase?
I have no wish/need to push the existing tenants out by raising rent to a figure I know they can’t afford (better the devil you know!) but at the same time, it will be a year until I can assess/apply another rent increase.
What are you all planning to do?
Thanks,
Reluctant landlord
Tags:
landlord registration ombudsman, landlord rent increase strategy, national landlord database, Rent increase, rent increase timing, rent review advice, renters rights bill, RRB landlord implications
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Member Since July 2024 - Comments: 16
5:03 PM, 4th October 2024, About 2 years ago
Reply to the comment left by Reluctant Landlord at 04/10/2024 – 08:44
I absolutely agree with this.
I did not get into letting to harm people or to become wealthy and every part of my being rejects the notion of having to do this, however our hands are soon to be tied and we must play safely for our own sakes.
It will be interesting to see if S21 is abolished from the first announcement or whether it will be given a future date.
There is a clear wealth grab that the public is suffering and LL’s are an easy target.
2030: you will own nothing and be happy. This is our war to fight.
Member Since February 2024 - Comments: 21
9:32 AM, 5th October 2024, About 2 years ago
From what I read all AST will be invalid when RRB becomes invalid. So a new lease is needed. Does this new lease give the landlord the right to set the rent as they see fit? Given the old AST is no longer valid then why should it be a reference point for the new lease? Has anybody seen anything in the proposed RRB that deals with this