Samuel Posted June 19, 2008 Report Share Posted June 19, 2008 Hi All, I've had a tenant for 2 yrs and not increased the rent £300 incl. gas / leccy / water. Is there a reasonable percentage I can increase by to cover well, er, general increases in everything ? Cheers, Sam. Link to comment Share on other sites More sharing options...
J4L Posted June 20, 2008 Report Share Posted June 20, 2008 Hi Sam, I think the 'standard' norm is felt to be 5% pa but in your case I think you should separate the utility bills from the rest. I'd get a figure in my head and then tell the T's that you will no longer be being responsible for bills. At the very worst they will leave, or you serve notice, leaving you open to advertise the property again at a set rate. What you could do is negotiate with the Tenant, explain the situation and tell them that you are thinking of releasing the utility bills from the equation, if it's another £50pcm you want, then just offer them an increase in rent of say £35 and then sign them into a new agreement. Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted June 21, 2008 Report Share Posted June 21, 2008 If prop is hmo (sep asts) then passing bills to T can be an absolute nightmare (trust me i've got the tshirt!) But if prop is let as a whole (single unit)...then why are you paying bills anyway ? Standard rent rise is in line with local market prices, conditon of prop etc and VERY relative to what you are charging at present .... 5% is a random figure until all other factors considered...bt if prop ave for area and rent the "norm" already then 5% is about right .....if the T will wear it !! if T refuses then you will lose 100% of rent ...gain new proc fees, set up fees and possibly a void period ...so if T is any good consider carefully !! The Rodent Link to comment Share on other sites More sharing options...
Samuel Posted June 23, 2008 Author Report Share Posted June 23, 2008 Thanks Guys. I'm a live in L with 2 T's. I think 7.5% after 2 yrs of the same rent is fair. Link to comment Share on other sites More sharing options...
mad_maz Posted June 24, 2008 Report Share Posted June 24, 2008 Hi I recently carried out the same exercise and found that 5.9% is in accordance with government guidelines. Link to comment Share on other sites More sharing options...
Chesterlandlord Posted August 6, 2008 Report Share Posted August 6, 2008 Hi All, I've had a tenant for 2 yrs and not increased the rent £300 incl. gas / leccy / water. Is there a reasonable percentage I can increase by to cover well, er, general increases in everything ? Cheers, Sam. Find out the rate percentage wise your local authority have increased rents to their tenants...WHO COULD POSSIBLY OBJECT to such an increase.......fair enough I would say! Link to comment Share on other sites More sharing options...
Mortitia Posted August 7, 2008 Report Share Posted August 7, 2008 Hi all, Do check your tenancy agreement as one of mine says no higher increase that 3% per year. I inherited that from an agency. Mortitia Link to comment Share on other sites More sharing options...
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