Rent and rolling tenancy_Urgent response needed, please help! :-)

You are here : Member Forums Tenancy Types and Management Rent and rolling tenancy_Urgent response needed, please help! :-)
This topic has been locked as no posts have been made within the last 90 days.
E
EmJ
78 Posts
1 Thanks
Hi
I'm sorry for the urgency but I need to compose an email to my tenants today and am looking for experienced advice on my situation. I'll keep it as brief as I can..

I recently requested a 50 monthly rent increase after our first year of a fixed term, tenants declined said they'd look for somewhere else, I now realise this may be a little much. I can't really afford the stress of finding new tenants now as I'm abroad and cannot return and don't have extra finance at the moment and it would be more costly as I'd have to employ an agency which is not an option.

I am considering now going in at a 20 increase instead and keeping it rolling (I do not want another fixed term) or just agreeing to keep it the same for my safety. They do seem to have cost an awful amount this last year (some of which is not their fault but some i'm not sure, this year I have paid out for new garden decking, the lighting and ceiling and fan in bathroom had to be replaced, the cooker broke (?) so I replaced that, on top of other small things (plus the obvious gas safety and insurances etc)

I'm worried also if I just completely back down and say no increase, it appears I may just bend over to every demand....BUT.....it will cost me in the long run if they leave now as I really don't have extra finaces at the moment,
Any advice is greatly appreciated!

Harper.....are you there too? ;-)
18/08/2015 14:21

Want to read more?

This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.

This topic has been locked as no posts have been made within the last 90 days.
Landlord & Investment Show
Martin Co
Six Hills House
Landlord Broadband

Share this page