Rent, rent, rent...

[sasguru]

If it is a one time 10% increase for some understandable reason (upgraded kitchen equipment, etc.), it may be OK, especially if you like the place and the area. But if every year it increases by 10%, you are better off moving to a less greedy landlord. With a 10% increase, in seven years you will pay close to 100% more than the first year you agreed to rent. So move on.

A smart landlord will increase rent less aggressively, after all, if the place is empty for one month he already lost more than 10% for the year. There are lots of flats waiting to be rented, this tells me that you will be able to find a place.

One more point: if the rent goes up by 10% every year and that is doubling the rent in 7 years, do you expect your contract rate or salary increase with the same rate? If you earn 70K, do you expect to earn 140k in seven years? If not, you are lowering your living standard while increasing someone else's living standard.

This is business, supply and demand.

Wow it's Brain of Britain himself

[doodab]

Don't landlords serve notice (section 21) at the same time as signing the lease? I would! Lets the tennant know not to mess about.

Some do, some don't.

[chef]

Some do, some don't.

I suppose it kind of depends if the landlord is actually running a business in real life or in fact running a fictional business to try and impress a group of nonchalant IT geeks while drooling over his fictional "sports" car, delaying his masters paper, sat in his fictional shed in the back garden of his fictional mansion furiously reading through every "how to get rich quick and be a stock market guru" they could get their hands on..

and before that delusional person replies with one of the 3 standard cutdowns they have coined, I was just popping in to read the Monday links and now its back to real work.

[sasguru]

I suppose it kind of depends if the landlord is actually running a business in real life or in fact running a fictional business to try and impress a group of nonchalant IT geeks while drooling over his fictional "sports" car, delaying his masters paper, sat in his fictional shed in the back garden of his fictional mansion furiously reading through every "how to get rich quick and be a stock market guru" they could get their hands on..

and before that delusional person replies with one of the 3 standard cutdowns they have coined, I was just popping in to read the Monday links and now its back to real work.

Not surprising you're running away.
That way you keep this fictional person you've invented alive in your head.

[doodab]

So I rent (e not a. occasionally a, as I do now). Year after year my landlord uses the following [extortionate] tactics. What's my best response?

Here's their tactics:
1. Serve a notice to vacate the premises in 2 months.
2. Tell me that the notice will be revoked if I agree to a 10% increase in rent no later than within next 30 days, else the notice is enforced.

I kind of like the area. My best move is [...fill in the blank...]

Negotiate. You're in quite a strong position, as you are already there. Unless rents have been rising fast in the area or the current rent is well below the market rate it's unlikely he'll be better off kicking you out.

It will cost him money and effort to find another tenant, even if he does it himself. If he uses an agent to find his tenants that's pretty much going to cost him the extra 10%.

Will he need to redecorate? Perhaps he needs to spend half a months rent tidying the place up whereas you'd be willing to stay without that.

Look at the local market. Is the new price realistic? Does the market move quickly? A month void will wipe out the extra 10%, so unless he can find someone to pay 10% more who can move in fairly quickly he's going to lose money.

[AtW]

Will he need to redecorate?

He will now!!!

[mickey]

If it is a one time 10% increase for some understandable reason (upgraded kitchen equipment, etc.), it may be OK, especially if you like the place and the area. But if every year it increases by 10%, you are better off moving to a less greedy landlord. With a 10% increase, in seven years you will pay close to 100% more than the first year you agreed to rent. So move on.

A smart landlord will increase rent less aggressively, after all, if the place is empty for one month he already lost more than 10% for the year. There are lots of flats waiting to be rented, this tells me that you will be able to find a place.

One more point: if the rent goes up by 10% every year and that is doubling the rent in 7 years, do you expect your contract rate or salary increase with the same rate? If you earn 70K, do you expect to earn 140k in seven years? If not, you are lowering your living standard while increasing someone else's living standard.

This is business, supply and demand.

The LL is overseas, and I have a feeling it's the agency calling the shots. They don't exactly create a win-win environment, do they The average annual uplift was over 9% in last 3 years.

[istvan]

The LL is overseas, and I have a feeling it's the agency calling the shots. They don't exactly create a win-win environment, do they The average annual uplift was over 9% in last 3 years.

It might worth the try to negotiate, nothing to lose. Although if the owner is a large multinational and a bunch of flats are managed locally by some property management firm, probably there is no room for negotiation. They just follow procedures, loss of a months to them is not a concern.

[d000hg]

Call him on it - say he's put rent up 10% every year but inflation is 3% and nobody earns any more.

Then prepare to move.

[sasguru]

Call him on it - say he's put rent up 10% every year but inflation is 3% and nobody earns any more.

Then prepare to move.

If OP is in London, LL will tell him to bugger orf.
No shortage of tenants if the property is decent and in a good area.
10% rise pa is what is happening in London now - its because there are otherwise very well off young people who nevertheless can't afford to buy a property.