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By *xhib12 OP Man
over a year ago
Blyth |
Have people's rents gone up much over the last few years.
We've rented out a couple of houses for about the last 6 or 7 years and have never increased the rents. We did think of putting them up a while back but covid hit and a lot of people were struggling so we didn't think it was right and we'd wait until covid had gone and people were more secure in their jobs. Actually our tenants worked through the lockdowns but we still didn't increase their rents.
Now covid has more or less gone, or at least doesn't really affect people working due to no lockdowns, people are being hit from all sides with rising prices so we still don't want to burden them with higher rents.
I just read a post where someone was saying their rent had increased by £300 per month so wondered how many more had been hit with increases.
I understand many landlords will have mortgages which will have increased so at least some of that may need to be passed on but £300 a month seems excessive.
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I’ve been lucky with a good landlord, who is not looking to change tenants every year and cash in. I moved in 2016 and not long signed for another three years. In the 9 years I’ll be here my rent has increased by a total £160 a month from what I paid at the start until I leave.
Some others renters I know have significantly seen their monthly amounts jumped in that time and more recently. |
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I suppose it depends if you value profit or peoples ability to live without worry of how they will pay the bills.
Have your costs gone up? I don't think it is unreasonable to cover any increase you have occurred.
Also if you put up the rent will you end up with vacant properties and no rent coming in at all. |
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By *bi HaiveMan
over a year ago
Forum Mod Cheeseville, Somerset |
Good tenants are worth their weight in gold.
Better to charge less to a good, long staying and responsible tenant that you know well than put rents up and risk them moving and you ending up with a bad one, especially if you've seen no personal increase in expenses such as a mortgage.
A |
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I'm self employed and haven't particularly put my prices up since 2013. First time I thought i should was just before the Brexit referendum, thought it best yo wait and see how that panned out. Then it dragged on and on with doomsday scenarios predicted. Finally thought fuck brexit then covid started, then fuel prices, then war, then cost of living ...
I think really all prices should see a steady, fair, incremental rise, but that's not how it seems to happen  |
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I’ve been really lucky with my landlord.
They were after long term tenants who’d look after the place, I had inspections the first year and once they saw I was a good tenant they’ve pretty much left me alone. I’ve had only the one rent increase of £15 a month (last year) in the 7 years I’ve been here. |
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By (user no longer on site)
over a year ago
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I am a landlord and haven’t increased my rent in 2 years. Funnily enough the property management company text me the other day and advised me to increase the rent as it was below the market average of houses around the same area. |
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"I am a landlord and haven’t increased my rent in 2 years. Funnily enough the property management company text me the other day and advised me to increase the rent as it was below the market average of houses around the same area. "
Do they charge a fixed fee or a percentage of the rent paid? |
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By *xhib12 OP Man
over a year ago
Blyth |
"Good tenants are worth their weight in gold.
Better to charge less to a good, long staying and responsible tenant that you know well than put rents up and risk them moving and you ending up with a bad one, especially if you've seen no personal increase in expenses such as a mortgage.
A"
We've seen increases in landlords insurance, annual boiler servicing and agents fees but haven't passed anything on to the tenants as yet. We will have to at some point but now is not the right time. |
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By (user no longer on site)
over a year ago
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" Do they charge a fixed fee or a percentage of the rent paid?"
The management company charge me fixed fee which they take out the rent that is given to me each month. I believe it is usually a percentage but they did me a good deal at the time as I got them another client too. |
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By (user no longer on site)
over a year ago
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"I suppose it depends if you value profit or peoples ability to live without worry of how they will pay the bills.
Have your costs gone up? I don't think it is unreasonable to cover any increase you have occurred.
Also if you put up the rent will you end up with vacant properties and no rent coming in at all."
This 100% |
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By *xhib12 OP Man
over a year ago
Blyth |
"Good tenants are worth their weight in gold.
Better to charge less to a good, long staying and responsible tenant that you know well than put rents up and risk them moving and you ending up with a bad one, especially if you've seen no personal increase in expenses such as a mortgage.
A"
Even with no mortgage on a property a landlord will still see increases in things like annual servicing costs, landlord insurance and possibly agents fees. In our case we've seen all of these but haven't passed any on as yet.
You are 100% correct when you say a good tenant is worth their weight in gold. Thankfully our tenants are both long term and love where they live. We're quite happy looking after them re rent as long as they're looking after the properties. |
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By (user no longer on site)
over a year ago
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"Have people's rents gone up much over the last few years.
We've rented out a couple of houses for about the last 6 or 7 years and have never increased the rents. We did think of putting them up a while back but covid hit and a lot of people were struggling so we didn't think it was right and we'd wait until covid had gone and people were more secure in their jobs. Actually our tenants worked through the lockdowns but we still didn't increase their rents.
Now covid has more or less gone, or at least doesn't really affect people working due to no lockdowns, people are being hit from all sides with rising prices so we still don't want to burden them with higher rents.
I just read a post where someone was saying their rent had increased by £300 per month so wondered how many more had been hit with increases.
I understand many landlords will have mortgages which will have increased so at least some of that may need to be passed on but £300 a month seems excessive.
"
I took my tenants in because they were being kicked out the house next door (nothing of their own fault the guy on the contract wanted his partner to move in) and it was near Christmas time. When covid hit they said they were struggling and didn’t have money for food. I didn’t charge them rent and later found out they went on holiday lol.
You are right with the increases, my mortgage has gone up and I had to renew my landlord insurance not long ago which was a considerable amount more than last year. |
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By *xhib12 OP Man
over a year ago
Blyth |
"I suppose it depends if you value profit or peoples ability to live without worry of how they will pay the bills.
Have your costs gone up? I don't think it is unreasonable to cover any increase you have occurred.
Also if you put up the rent will you end up with vacant properties and no rent coming in at all."
Our costs have increased but we're not passing any of that on to the tenant as yet. Rental property is at a premium in this particular location so we'd have no problem renting them out if the current tenants decided to move on. It's about trying to do the right thing just now I think. |
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By *bi HaiveMan
over a year ago
Forum Mod Cheeseville, Somerset |
"Good tenants are worth their weight in gold.
Better to charge less to a good, long staying and responsible tenant that you know well than put rents up and risk them moving and you ending up with a bad one, especially if you've seen no personal increase in expenses such as a mortgage.
A
Even with no mortgage on a property a landlord will still see increases in things like annual servicing costs, landlord insurance and possibly agents fees. In our case we've seen all of these but haven't passed any on as yet.
You are 100% correct when you say a good tenant is worth their weight in gold. Thankfully our tenants are both long term and love where they live. We're quite happy looking after them re rent as long as they're looking after the properties."
It's a good attitude to have. My brother is a landlord and he hasn't raised rents as he seems in a similar position to you. The additional costs he's seen (insurance, annual maintenance/servicing etc) work out to around £20 a month for him and he sees secured rental income from long term tenants who cause zero damage and treat the place as their own home as a much bigger benefit than a couple of hundred extra a year. The previous tenants were constantly causing issues so he's happier to be more 'generous' and supportive of the present ones in the hope they'll continue to be the perfect renters.
A |
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By *xhib12 OP Man
over a year ago
Blyth |
"Good tenants are worth their weight in gold.
Better to charge less to a good, long staying and responsible tenant that you know well than put rents up and risk them moving and you ending up with a bad one, especially if you've seen no personal increase in expenses such as a mortgage.
A
Even with no mortgage on a property a landlord will still see increases in things like annual servicing costs, landlord insurance and possibly agents fees. In our case we've seen all of these but haven't passed any on as yet.
You are 100% correct when you say a good tenant is worth their weight in gold. Thankfully our tenants are both long term and love where they live. We're quite happy looking after them re rent as long as they're looking after the properties.
It's a good attitude to have. My brother is a landlord and he hasn't raised rents as he seems in a similar position to you. The additional costs he's seen (insurance, annual maintenance/servicing etc) work out to around £20 a month for him and he sees secured rental income from long term tenants who cause zero damage and treat the place as their own home as a much bigger benefit than a couple of hundred extra a year. The previous tenants were constantly causing issues so he's happier to be more 'generous' and supportive of the present ones in the hope they'll continue to be the perfect renters.
A "
Spot on  |
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By *rAitchMan
over a year ago
Diagonally Parked in a Parallel Universe |
I rent part of a country manor house in a farming estate village. I've been here over 8 years and my rent recently increased for the first time since I've been here by £15 per month.
Due to the rising cost of energy, the landlord is providing all tenants with 500 litres of heating oil free of charge, which is worth about £450 per tenant. |
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