UK Landlord Forum / Life

Hi I have not increased the rental charge on the property I let out since I first started letting it out over 7 years ago. My fault,  I probably should have done something in line with inflation. I have noticed that similar properties for rent nearby are at least 30% higher than the rent I am charging.  I realise this is a fair whack to land on the current tenants. They have of course been enjoying very low rent for 5 years.  The mortgage needs renewed shortly and deals available are no where near what I currently have - so of course I do need to address this. Basically what I am asking opinions on is - do you think a 25% rent increase is too much to ask in one fell swoop.  I am pretty sure they can afford it tho of course they wont like it - even with this proposed increase they could not find anything anywhere near that rent in the same area

Have you spoken to the tenants about the situation? I'd start there.

Quote from: smfm100 on June 15, 2025, 10:33:29 AM...do you think a 25% rent increase is too much to ask in one fell swoop.

Of course, it's your mismanagement (which you admit to). Go easier. Boil those frogs.

thanks for the responses. yes I will speak be having a conversation with the tenants first.

Quote from: smfm100 on June 16, 2025, 12:07:53 AMthanks for the responses. yes I will speak be having a conversation with the tenants first.

Just explain your situation, if you are charging market rent then after searching around they may realise that it was long overdue. 

You could sweeten the deal with a new 3 year Tenancy Agreement with a break clause if they want to leave early, use this opportunity to make the new Tenancy a Contract Periodic with build in RPI increases that will applied annually.

Worse case scenario is they refer your increase to the FTT and you then demonstrate the rent is at local market levels.

Many property owners think being a Landlord is a popularity contest, it is not, it is a business.

Make sure that you are 100% legally compliant with all of your obligations such as deposit protection, Landlord Licence, Tenant Fees Act etc.