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When to put your rent up and how often ?

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ROFL. I offered it to them at significant discount (mutually beneficial of course as I would avoid estate agents fees and the general hassle of viewings etc.) and they were unable to find a mortgage. Please do carry on though.

 

People on here really need to stop judging everyone else by their own standards.

 

I have one set of tennants who have paid the same rent for the last 10 years, my house is looked after by the tennants and last year they spent £3000 of their own money getting a patio installed. Over the years they have decorated the property to a very high standard and treat it as their own. I pay £144 a year to British Gas for a boiler service and care package and my landlords insurance including buildings cover is £240 pounds.

I could get £75 a month more for the property but I am happy with how things are as the tenants appreciate it and any minor issues that need doing they get done themselves after clearing it with me out of their own pocket.

Being a landlord doesn't mean you have to charge your tennants sky high rents...

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I have one set of tennants who have paid the same rent for the last 10 years, my house is looked after by the tennants and last year they spent £3000 of their own money getting a patio installed. Over the years they have decorated the property to a very high standard and treat it as their own. I pay £144 a year to British Gas for a boiler service and care package and my landlords insurance including buildings cover is £240 pounds.

I could get £75 a month more for the property but I am happy with how things are as the tenants appreciate it and any minor issues that need doing they get done themselves after clearing it with me out of their own pocket.

Being a landlord doesn't mean you have to charge your tennants sky high rents...

 

Thank you! I do understand where Hippogriff is coming from if he/she is solely looking from the profit level as a professional landlord whose main income is from property. For those who have other jobs that form their main income the motivation of renting a property is different, regardless of whether I'm a female Ghandi or not.

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Being professional is absolutely key in my mind.

 

What some people have described here is the exact opposite of professional and I can only presume that outlook stretches out to other aspects of the tenancies too.

 

That's quite an assumption to make! Maybe some landlords can afford to charge lower rents and being a professional landlord does not mean charging maximum rent possible.

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:hihi:

If your intention is to be a Landlord, then yes. If you're a social housing provider, then maybe no. What I'm saying is that not increasing the rent, along with the market, increases the danger of a number of things... firstly, it makes you, as the Landlord, disinterested and somewhat lackadaisical - therefore unprofessional - we have enough unprofessional and rogue Landlords out there, what we need are more people doing this properly. Secondly, it totally has the, probably unintended, result of trapping Tenants in a property. You think you're being helpful, somehow... but you're not, because all tenancies end; at that time there could be big shocks. Thirdly, a disinterested Landlord, one who doesn't assess how their investment asset can perform on a regular basis, is very likely to be one who is disinterested in maintenance and repairs too - not great. It is a broad brush, not personal... but the traits are all there. Professional vs. unprofessional - that means amateur, right? It's not an insult - it's just not professional, and not taking it seriously.

 

I don't have a view of the world that is all about increasing profit. The view that I have is relatively simple... every year I do GSCs (their costs hasn't remained static over the years), every year I have maintenance costs (their costs hasn't remained static over the years), every year I have insurance (that doesn't remain static and with the increases in IPT they're on an escalator), every year I need to drive many miles (fuel nearly always goes up)... so the rent goes up, modestly but regularly, to cover my increasing costs. That is not a profit-driven view of the world - as you basically put it - it's one where I don't wish to throw money down the drain.

 

If you're happy to do that, do it... I'm standing by the fact you're inept (as a Landlord).

 

---------- Post added 19-04-2017 at 15:20 ----------

 

P.S. - my GSC cost rose this year. From a rate of £50 per property that I had for a couple of years to £55 per property. Now, to me, that's a 10% increase... we can argue the maths if you like... and my rent increases are never anything like 10%, I can assure you.

 

I have also agreed those GSCs will remain at £55 for the coming 3 years, which gives me a bit of breathing space in that regad.

 

Very good Hippogriff you having a good laugh . You can fool some of the people some of the people some of the time but you cant fool all the people all of the time .

 

---------- Post added 21-04-2017 at 09:36 ----------

 

Thank you! I do understand where Hippogriff is coming from if he/she is solely looking from the profit level as a professional landlord whose main income is from property. For those who have other jobs that form their main income the motivation of renting a property is different, regardless of whether I'm a female Ghandi or not.

Dont believe anything you read on the forum

Hippogriff is laughing at you :hihi:

Talk about go on and exagerate what a woman :hihi::hihi: Got 12 dolls houses poss 2 nothing adds up does it

Edited by spider1

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