Bedsit rent rise

Tenancy Types and Management

Hi,

I've been a landlord for almost 20 years and during that time I've made the decision that where possible, I would not implement annual rent rises. My rents are only increased when tenants leave and we market at higher prices.

I have a HMO property for which we have never implemented a rent increase during tenancy. I'm now. at the mercy of the rising energy costs (bills are included in the rent) and feel we need to have the conversation with tenants. I've spoken to a couple of them who have expressed understanding, we have also said that we would have a conversation with all tenants to get a feel of what's fair for both us before formalising any rise. I know there will be at least 2 tenants who will object to the rise despite the great relationship we have with them.

Using the social housing formula, 2.7% is the limit for 20/21 increases, 1.5%. 20/22. As a private landlord I'm aware that these are a guide only.

Given that rent rises are supposed to be in line with local market rises, if a tenant formally objected to me raising by 5-7%, could I argue that it is based on rising energy costs? Our bill has increased by almost 40%, the supplier sneakily raised prices just before the crisis. I'm also on variable green deal which isn't covered by the cap.

Many thanks in advance.