Some landlords struggle when deciding how to serve a rent increase especially when a valuation suggests that the property value is in need of a rental increase in order to match the current property market. A landlord rent increase can sometimes escalate very quickly into a bad dispute with the current tenants especially if the situation is not handled by professionals. Issuing a landlord notice to increase rent, may be overdue? For help and advice contact your local experts at letting Agents Wolverhampton.
Landlord rent increase can sometimes escalate very quickly into a bad dispute with their current tenants if the situation is not handled by professionals, as the subject of increasing rent can be a very sensitive matter. Letting Agents Wolverhampton can provide you with all the relevant help and advice regarding landlord notice to increase rent.
For expert advice about landlord rent increase – Call our lettings team!
Landlord rent increase
Landlords often increase the rent when they renew a tenancy agreement, as this makes it easier for them to consider an option of a new tenant if they disagree with the new rental terms. However, if the increase is not stated in the agreement and the tenant’s dispute the increased rental, then the landlord is required to follow certain procedures which we have provided for you using the appropriate form/s.
The Housing Act 1988 which enables landlords to legally to increase the rent after the initial fixed term by issuing the tenant with a Section 13 notice.
After the Section 13 has being served, the current tenant only has two options, which is to pay the new rental increase or to give their notice to leave the property. Landlord notice to increase rent
Our experts at letting Agents Wolverhampton have dealt with many cases of rental increases with a property. We have also supported a number of landlords who are worried if they privately serve a rental increase that they could potentially lose their current tenants. What should have been a £10 – £15 PCM rental gain, now leaves them with a full rental loss because their tenant has vacated. OUCH!
A rental increase needs careful management – need help? – Call your local Letting experts at Lettings Agents Wolverhampton.
How to serve a rent increase
- Landlord rent increase
- Landlord notice to increase rent
- Landlord rent increase
As a rental increase is a cost to the tenants, it can be an emotional and financial distressing time which needs to be managed very delicately. Of course landlords are always free to consider a rental increase, however, we would strongly advise that there are some commercial pitfalls that need to be considered.
We should never forget that tenants have a considerable choice with plenty of rental property available. That said we also understand the commercial need to achieve the maximum yield from the property. So if you’re a landlord with property in Willenhall, Wednesfield or Bilston then call our Wolverhampton office for expert advice.
Landlord notice to increase rent – Free property valuation
Managed professionally a rental increase can be commercially achieved. How to serve a rent increase? why not call us for a free property rental valuation.
So! Do you have property in Wombourne, Perton or Codsall and feel you need help with preparing for a rental increase? Call your local experts at Letting Agents Wolverhampton.