Landlords with larger portfolios are more likely to increase rent than small-scale landlords.
A poll by The Landlord Works shows that 75 per cent of those who own more than 10 properties aim to increase their rents over the next 12 months.
This compares to just 44 per cent of landlords owning between one and three properties.
Some 46 per cent of those landlords with a small portfolio plan to keep rents the same.
Across the regions, landlords in Yorkshire & The Humber (68 per cent), outer London (65 per cent), the North West and Wales (both 63 per cent) are most likely to increase rents on some or all of their properties over the next 12 months.
Those landlords using their rental properties to offset their mortgages are also more likely to raise rents, with nearly two thirds planning an increase compared to just 44 per cent of unleveraged landlords.
Despite the plan to increase rents, well over half of landlords questioned by The Landlord Works are concerned about whether their tenants can maintain their rental payments.
More than one in eight admit they are very concerned.
This increases to nearly three quarters of landlords who let to claimants of Local Housing Allowance and 71 per cent of landlords who let to retired people.
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Oh dear, just what tenants need….. the small landlords who do not increase the rent are leaving the sector In droves, whilst they get to keep the big boys who do ! Nevertheless, I am sure Gen Rent will be able to put them up or assist with the increasing rents.
I always find the question confusing. Does it mean raise the rent of existing tenants or does it mean raise the rent for that house or room if it becomes vacant?
I very rarely raise rents for existing tenants but go with market forces when advertising for new tenants.
I do much the same keeping rent increases low for good existing tenants but take full advantage of market rents when reletting a property.
On the subject of housing benefit claimants I don't know how landlords can rent to them with local housing allowance so far below market rents you are either not going to get the full rent paid or going to be renting to them far too cheaply either way those tenants are a nightmare
and the Govt are oblivious to the additional burden this places on Tenants, particularly at this current financial crisis.
( Govt don't understand what a crisis, they think its the booze at No 10 has ran out )
Our tenants have been with us 20 years so increasing the rent between let’s is not possible .The last rent increase was 5 1/2 yrs ago and before that 8 yrs .At £645 for a period 2 bed semi det cottage worth over £300.000 in pristine condition is now well over £250 below market rent for the area.We were going to put it up in March 20 and then every year to bring it up to market rent but of course covid prevented that. Now we’ve decided it must go up every year to bring it up to market rent. The tenants realise they couldn’t get a 2 bed flat for what they are paying , and had no problems with the new rent.
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