Rent Rises a Myth ? (For Some)

[Butts]

Is all this talk of Rent Rises grossly exaggerated ?

What are other peoples experiences ?

Since I got Divorced in 2008 I have lived in rented accommodation and not had a single rise from the original rental agreement.

2008-2010 Dalgety Bay Fife - 2 Bedroom Flat £500pcm - no increase for the 2 years.

2010-2017 Falkirk - 1 Bedroom Flat £275pcm - no increase for the 7 years.

2017-2019 Newport Gwent - 1 Bedroom Flat £295pcm - no increase for the 2 years.

2019-Current Falkirk - 1 Bedroom Flat £350pcm - no increase for the 4 years so far.

 

[nlogax]

Since I got Divorced in 2008 I have lived in rented accommodation and not had a single rise from the original rental agreement.

Based on the types of property you describe it's possible those underlying mortgages may have already been paid off by the landlords. I personally know a few people who have seen rents rise during tenancies in the last few months, but they tend to be living in houses and/or south of the border.

 

[DC1989]

Very much depends where you are. In Ilford - a very unfashionable area of East London they've risen over 60% since 2010

I'm in a whatsapp group for the block of flats I live in which isn't too far from there. Some of the people in the group are landlords have said they have rised rents on a 2 bed apartment from 1300 to 1600 since 2021- one gleefully boasted of getting 1700 from a desperate family.

This is one of the reasons why the government should absolutely not help with peoples mortgages. Would these landlords suddenly start charging £300 less because the government gives them an extra £300?

 

[deltic]

Is all this talk of Rent Rises grossly exaggerated ?

What are other peoples experiences ?

Since I got Divorced in 2008 I have lived in rented accommodation and not had a single rise from the original rental agreement.

2008-2010 Dalgety Bay Fife - 2 Bedroom Flat £500pcm - no increase for the 2 years.

2010-2017 Falkirk - 1 Bedroom Flat £275pcm - no increase for the 7 years.

2017-2019 Newport Gwent - 1 Bedroom Flat £295pcm - no increase for the 2 years.

2019-Current Falkirk - 1 Bedroom Flat £350pcm - no increase for the 4 years so far.

The flats in Falkirk may be very different but in 2017 you were paying £275 and in 2019 £350 which is a substantial increase. While a quick look on Zoopla suggests the cheapest 1 bed flat in Falkirk now is £630pcm.

 

[Butts]

The flats in Falkirk may be very different but in 2017 you were paying £275 and in 2019 £350 which is a substantial increase. While a quick look on Zoopla suggests the cheapest 1 bed flat in Falkirk now is £630pcm.

The increase is due to it being a better flat ....GCH, DG etc.

I think some Landlords may be happy to save the expense and hassle of getting another Tenant hence they don't jack the rent up to a long standing regular payer who gives them no grief.

Is anyone paying a lower rent than me for a 1 Bedroom Private Let ?

 

[baz962]

My rent rose a couple of years then stayed the same and then I moved and it stayed the same the second year and then went up the last two years.

 

[Tetchytyke]

Depends on the landlord’s circumstances.

We’ve not increased the rent on our tenanted property because there’s no mortgage and the tenants are good, so why rock the boat.

 

[AlterEgo]

Depends on the landlord’s circumstances.

We’ve not increased the rent on our tenanted property because there’s no mortgage and the tenants are good, so why rock the boat.

This, very much. I have one tenanted property and one I will move out from and let shortly, and the stability of income is more important than a maximised yield.

 

[Elwyn]

Depends on the landlord’s circumstances.

We’ve not increased the rent on our tenanted property because there’s no mortgage and the tenants are good, so why rock the boat.

I completely agree. I have 3 long term let properties in Liverpool. I have had the same tenants in them for many years. They pay the rent c £600 on time, don’t complain unnecessarily and look after the place. (They do some minor redecoration and so save me some money).

I don’t have mortgages on any of them and so am not being squeezed that way. I am getting a fair return on my investment. If I greedily put the rent up, it may lead to a tenant leaving. That means I will probably have no rent for 2 to 3 months whilst a new tenant is found and references taken up etc. I will have to pay an agent a finders fee for the new tenant (typically £600), get the cleaners in for a deep clean and pay the Council tax after 1 month. All in all it’s the guts of £3000. So it’s in the landlord’s interest to keep a good tenant.

A good deal is one where both parties feel the arrangements are fair. In 15 years of renting, I have only ever put the rent up after a tenant left. And then it was to a rent the agent felt was fair for the local market.

 

[E27007]

Rent rises are certainly not a myth!
I assume you are renting from a private landlord.
You may be a model tenant. Landlords covet model tenants, one less thing to worry about. A friend who is a landlord prefers the stability of his model tenants and tailors the rent he charges to the circumstances of the tenant, a new tenant is a risk and initially is set a high rent, if the tenant proves to be sound, the rent is allowed to "erode" due to inflation.
You may also have a good credit rating as assessed by credit agencies, another feather in your cap

 

[Lost property]

It's refreshing to read about landlords who have the acumen and morality to understand a model tenant is somebody to be valued.

I have several friends who rent, and, they are are all long term renters whose landlords fall into the above category...unlike those who simply thought it was an easy way to make money as there will always be a market.

With the above in mind, the UK rental sector does need a radical overhaul given the rising numbers of renters.

I had to rent for a while and it wasn't a pleasant experience due in no small part to the sub species of vermin known as letting agents who seem to come from the same, incestuous, gene pool as recruitment "consultants "....an IQ measured in single figures, the personalities of a flatulating skunk, and full of their own pretentions.

There have been a few interviews with the species on the news recently, and, surprise surprise, they've all been very keen to stress they simply have to increase rental costs due to "market forces "...and, of course, no mention of their commission / bonus's and profits.

 

[Typhoon]

Surely it is down to area?

Round here there is a shortage of rental properties as some of those that used to be rented out are now holiday lets and I gather the situation is worse further along the coast. When for can get £700, £800+ per week for a two bedroom bungalow, 'chalet bungalow' or 'cottage' (quotes because they may not be how I would describe them) what is not to like? And then anything that looks like it has age in it is snapped up as second (or third) homes.

 

[kristiang85]

I had to rent for a while and it wasn't a pleasant experience due in no small part to the sub species of vermin known as letting agents who seem to come from the same, incestuous, gene pool as recruitment "consultants "....an IQ measured in single figures, the personalities of a flatulating skunk, and full of their own pretentions.

I remember having to deal with those weasels back in the day when I lived in London. An utterly unpleasant experience, until I found one that was relatively hands off apart from managing the legal stuff and we had a reasonable, pragmatic landlord who we mostly dealt with.

I'm seeing a lot of anecdotal stories online of landlords saying they haven't planned to raise rent but the agents are badgering then to "because of the market". Presumably it's also the % commission they are on...

 

[Cloud Strife]

Round here there is a shortage of rental properties as some of those that used to be rented out are now holiday lets and I gather the situation is worse further along the coast. When for can get £700, £800+ per week for a two bedroom bungalow, 'chalet bungalow' or 'cottage' (quotes because they may not be how I would describe them) what is not to like? And then anything that looks like it has age in it is snapped up as second (or third) homes.

A friend owns a holiday let in a rather desirable Scottish island, and he describes it like this:

- 10 weeks holiday let = £1000 / week on average, £12000 in total.
- 52 weeks normal rental = £800 / month, £9600 in total.

It's really not hard to see why people prefer holiday lets, destructive as they are. The only way to solve it is to allow for local councils to create legislation that explicitly requires a property to be occupied for at least 9 months a year.

 

[Mcr Warrior]

A friend owns a holiday let in a rather desirable Scottish island, and he describes it like this:

- 10 weeks holiday let = £1000 / week on average, £12000 in total.

Surely 10 weeks at £1000 per week is £10,000?

 

[nlogax]

I'm seeing a lot of anecdotal stories online of landlords saying they haven't planned to raise rent but the agents are badgering then to "because of the market". Presumably it's also the % commission they are on...

Once my tenants near the end of a full year I'm sure the managing agent will be making similar recommendations to me which I'll happily turn down. Hell.. by then I'll hopefully have paid the mortgage off and will be tempted to lower the rent to under local market value.

 

[Gloster]

It is twenty years since I had to rent, but one thing I found was that it common to really whack the rent up when changing tenants: in one case it was £300 to £400 pcm and the previous tenant had been there only just over a year. Whether the rent is then allowed to stay for years or not depends on the greed or common sense of the landlord.

I fully agree with the criticisms of the letting agents. If they hand over the management of the running of the property to the owner after getting the tenant in it is not so bad, but they will still feed the landlord with dreams of massive sums to made if they got a new tenant in, and guess who is happy to deal with kicking the present tenant out and getting a new one. If they manage the property, they take so much in costs that the landlord can be persuaded that if he wants more income he ought to get a new tenant on a higher rent, which they can help with.

As a minor point, I found that the greediest landlords were often people who had inherited a single property and suddenly seen a new income. They were easy prey to the unscrupulous. (My experiences were all small town.)

 

[Cloud Strife]

Surely 10 weeks at £1000 per week is £10,000?

Ah, yes! My mistake. I was thinking about 12 months in a year and got my sums muddled!

As a minor point, I found that the greediest landlords were often people who had inherited a single property and suddenly seen a new income. They were easy prey to the unscrupulous. (My experiences were all small town.)

These are generally the worst, because they see every expense as a personal loss.

 

[alxndr]

It is twenty years since I had to rent, but one thing I found was that it common to really whack the rent up when changing tenants: in one case it was £300 to £400 pcm and the previous tenant had been there only just over a year. Whether the rent is then allowed to stay for years or not depends on the greed or common sense of the landlord.

I rented for 6 months at £650 pcm, property went back on the market for £750 pcm. The landlord has been on podcasts openly admitting that he charges over market value on all 200ish of his properties. They certainly aren't worth over market value if the one we stayed in is anything to go by.

 

[Tetchytyke]

I found that the greediest landlords were often people who had inherited a single property and suddenly seen a new income. They were easy prey to the unscrupulous.

As a tenant I had a similar experience with a landlord who bought the flat for their child but rented it out whilst the child didn’t need it. Having put cheap everything in they couldn’t understand the concept of fair wear and tear.

The agent, otherwise a venal parasite (highlight of them was arguing six weeks’ deposit equates to 1.5 months’ deposit- not a small difference in London), at least insisted on an independent check out and this helped us immensely.

In fairness, I think some of it is more emotional. Small landlords will often be renting out an inherited house or a house they used to live in, and so won’t necessarily understand that even good tenants won’t treat it in the same way they would if they owned it.

 

[BluePenguin]

The increase is due to it being a better flat ....GCH, DG etc.

What do these acronyms stand for please?

 

[WelshBluebird]

It is very location and situation specific.

I've just moved out of a flat in Bristol that I had rented for about 3.5 years. That was £925 a month and the landlord hadn't increased it in that time. But if someone wanted to rent a similar flat now it would be more like £1300 a month.

 

[DarloRich]

This is one of the reasons why the government should absolutely not help with peoples mortgages

many of us with mortgages are not evil landlords - some of us have saved very hard to be able to buy ONE house, had no help from the bank of mummy and daddy, are paying for everything from one wage and are really worried about the costs of increased mortgage rates. Why should people unable or unwilling to make the scarifies needed to own a house get a better deal than me? Why should renters be isolated from the winds of economic turmoil?

I have also rented. I ALWAYS found out who the landlord was, cut the agent out and dealt directly. A much easier relationship all round.

PS If I was renting I would brace myself for rent rises. It may become unavoidable if rates and costs continue to rise and favourable deals expire, despite how good your landlord is.

 

[Mcr Warrior]

The increase is due to it being a better flat ....GCH, DG etc.

What do these acronyms stand for please?

GCH = Gas Central Heating. DG = Double Glazing.

 

[Techniquest]

GCH = Gas Central Heating. DG = Double Glazing.

Thanks! I didn't know that and I had been going to ask too.

Rent wise, I'm currently around 500 every month for a room and shared bathroom/kitchen in a 5-bedroom house, but that includes things like utiities and such like, so it's a good deal. It's only gone up by 50 in the 5 and a half years I've been here, so I've done well. I'd have never managed the massive amount of adventures I've done if I was renting a proper flat or whatever!

Doesn't mean I particularly like it, I'm not a fan of house-sharing. It got me on the way to more independant living though, which is what I needed at the time. If it wasn't for incredibly expensive rates at the moment, I'd be elsewhere by now.

I must say that I do have a good landlady though, so that's definitely been good news This thread has reminded me I need to ask about replacing the carpet at some point, it's worn really well but it's showing its age now. I'd even consider chipping in a decent share of the cost!

 

[Segedunum]

I was paying 640 a month in Sheffield in 2021 for a city centre flat - on the basis that I had a job in the city centre.

I then got a remote role and considering I wasn't earning a fantastic amount (just under 20k) I moved back in with my parents when my tenancy was up. The building manager told me when I moved out that the "landlord wanted more return" and would probably be upping it to at least 750 a month. Just as well I didn't want to stay...

The only "good" landlord experience I've had was my second year student house which was a lovely house in Broomhill (just outside of Sheffield) where the landlord (definitely in his mid 70s) would personally come and do any repairs. This was 2018/9 and it was 320 a month in a houseshare of 5 - I highly doubt its that now if its still being let out. Then again, student lets are a whole different ballgame and are beyond absurd.

 

[Butts]

many of us with mortgages are not evil landlords - some of us have saved very hard to be able to buy ONE house, had no help from the bank of mummy and daddy, are paying for everything from one wage and are really worried about the costs of increased mortgage rates. Why should people unable or unwilling to make the scarifies needed to own a house get a better deal than me? Why should renters be isolated from the winds of economic turmoil?

I have also rented. I ALWAYS found out who the landlord was, cut the agent out and dealt directly. A much easier relationship all round.

PS If I was renting I would brace myself for rent rises. It may become unavoidable if rates and costs continue to rise and favourable deals expire, despite how good your landlord is.

With regard to Mortgages no one was complaining when the base rate was 0.1% that they had to much money !! - Caveat Emptor ?

I remember when they hit 15% in the early nineties - that was something to fear.

Is there any area of the UK where I could undercut my current rent of £350pcm for a 1Bedroom Flat ?

Imagine what I would get in London - a park bench ?

 

[najaB]

Is there any area of the UK where I could undercut my current rent of £350pcm for a 1Bedroom Flat ?

Imagine what I would get in London - a park bench ?

A room share on a park bench, more like.

 

[Snow1964]

Depends on the landlord’s circumstances.

We’ve not increased the rent on our tenanted property because there’s no mortgage and the tenants are good, so why rock the boat.

We have put the rent up on our tenanted property this year for first time since tenant moved in 5 years ago, had also not wanted to rock the boat, but too many costs (including mortgage) were going up.

 

[richw]

Mother in law has a couple of properties she rents out to boost her pension. Both mortgage free, both have good tenants. Both managed through an agent.
She has no interest in raising her rents, but the agent keeps pestering her that she’s letting them below market value and should increase them.
My logic is the agent wants to get more income as they manage them on a percentage basis. The bigger the rent the more they get.