Got this email on Friday from our letting agent:
The rent increase clause in our tenancy agreement states:
Now from my understanding there are a few options here. First is agree and pay the higher rent from December onwards (lol).
Second is disagree and the landlord can begin the eviction process.
Third is disagree and they have to wait until the renewal.
So hive mind, what's the legality here?
Cheers
Dear Diddums,
As you may know, your rent anniversary is annually 06th February. As per your agreement terms, rent will be reviewed on each anniversary and as you have not had any rent reviews over the last two years, your landlord has asked us to review it now for December onwards.
As you may have heard, the lettings market has changed dramatically and if we were to go to market now the property would be achieving aprox £2050.00 per month for rent. The landlord is asking for an increase to £1950pcm from the current £1550.00, commencing 06th Drecember 2023. We appreciate that this is big jump in rent, but I’m sure you agree the current rent you have been paying since 2021 is unfortunately well below current market value, for some time now.
Please do let me know if this is something you can agree to and if you wish to proceed with the tenancy or if you prefer to find alternative accommodation perhaps that will be more affordable for you as we appreciate this is a significant increase.
Im here for any queries of course, but please do let me know by Friday next week if possible if you can proceed.
Thank you
The rent increase clause in our tenancy agreement states:
. 6. Rent Increase.
6.1. The Landlord can increase the Rent every twelve months on the anniversary of the date
on which the Tenancy began (“the Rent Increase Date”). For the avoidance of doubt this
means that the Rent may increase on 06th February each year. The increase is to be
calculated according to the rise in the Retail Prices Index from the start of the Tenancy or
the anniversary date whichever is the latter. To avoid doubt if the Landlord does not
increase the rent in any year this will not affect the Landlord’s rights to increase the Rent
in subsequent years.
Now from my understanding there are a few options here. First is agree and pay the higher rent from December onwards (lol).
Second is disagree and the landlord can begin the eviction process.
Third is disagree and they have to wait until the renewal.
So hive mind, what's the legality here?
Cheers