If I want to increase the rent of my tenant in the UK at the end of the agreement how much can I do it by?

Question

Should such a clause have been included in the current teancay agreement or if I want to retain this tenat am I entitled to increse the rent by a certain percentage for the new tenancy agreement?

Answer 1

unless there is a clause in the contract then you can legally do it by any amount you want but you dont want to scare your tenants away or make it unaffordable for them to be there.

I would recommend between 10-15% however talk to your tennents first and make sure that this is within their budget.

Have a look at www.rightmove.co.uk at similar properties and their rental value at present also look in talking to letting agents and see what they would advise.

It is much easier to keep a nice tennent in the property so dont be too harsh. Once the increase is in place present them with the new agreement and advise that this is due to inflation etc and write them a personlised letter with a break down of your reaserch etc, this will mean they are less likely to run a mile!

Answer 2

No it's not right what is in your contract with her is cast, the rent agreed is the rent you pay for the term of the lease and she cannot ask you for more within that period, also you only need to let her know of your intentions in accordance with your notice agreement, so if that is a month, then a months notice of your decision is all you need to give - it takes hours to get in touch with letting agencies and within a couple of days it's on the market, so that excuse does hold up. You are also within your rights to withhold payment of rent if dangerous jobs are not completed within an acceptable time limit ( though this can cause more tension ) especially with a small child in the home. A good landlord will not be heard of until a job needs doing, and will remind you within a couple of months of your lease ending, but will leave you a further month to decide, though the closer into the last month it gets they may and should push you for a decision, but only when there is little time left, no landlord wants to not hear from their tenant; and then turn up one day to realise they have gone without notice ( though this would usually be dodgy if they are willing to leave their deposit behind) As for charging you to sign a lease, I admit I have never heard of this before, I would strongly suggest a trip to your local Citizen's Advice Bureau - though I have put a link to the Directgov page for your perusal, but get yourself to CAB

Answer 3

It depends on the clause in the contract!Usually its by the rate of inflation, but today the Bank rate is considered to be fair.
However if you don`t want an empty flat, negotiate with your tenant and agree as to the conditions such as decoration,security and maintenance of the property. You are best going through a mediator such as The Rent Tribunal.

Answer 4

You can charge what you like for rent if it's a new agreement, but if you want to keep your current tenant you should give them at least 4 weeks notice of your intention and explain exactly why you're putting up their rent

Answer 5

Don't increase it more than 10% of the current rent. hae to take into account that there is inflation felt by both you and the tenant. So be fair, not forgetting that you also want to make money. But don't be greedy. Also, if it is a good tenant, you might want to keep them as good ones don't come by very easily.

Answer 6

Explain to the tenant that you're struggling financially and then work out a plan that works for both of you. I'm sure he/she wouldn't mind paying £10 extra a week if they know they're helping to keep food on your table.

Just be sure not to go and collect the rent in your new Porsche 911 or flash BMW.

Answer 7

As much as you like - but of course the tenant doesn't have to continue to rent from you - if the lease ends they can move if they feel that the rent is too high!

Answer 8

if the old agreement is at an end you can charge whatever you like with the new agreement but dont get too greedy or you will have an empty house and an agreement only you agree with

Answer 9

u can but only if your current tenent agree, u can get them to do this by paint the flat or puttin new carpets so u can justify it, but u might hav some probs, if u do really want hight rent then mss me im an agent based in e1, we cover from shoreditch - down to stratfor n doclands!

Answer 10

You can try to increase the rent by as much as you like, but likewise they can contest it and get the local council to get you to only increase it by what is reasonable for the area.