UK Landlord Forum / Life

Hi,
My tenants are leaving my property soon. They proposed me new tenants. I am happy with them (as they are a recommendation from excellent tenants) I will be doing some works at the property between tenancies (re-Newing all the heaters). As that, I increased the rent by £100 and due the economical situation. He said he was hoping to pay the same amount than the previous tenants. Please could you help me to write a politely and effective message  to him to meet in the middle (increase of only £50).
Thank you

Dear x

Thank you for your comment. I will be letting the property at my proposed new rent to someone else. Thank you for your interest.

Newlandlord.

This isn't a negotiation tactic. Rent to someone else.

@Newlandlord, please follow @jpkeates advice.

You are only in this situation of wanting to negotiate because your previous tenants gave you the name of some potential new tenants and this has made you feel you owe something to the potential new people. But you owe them nothing.

If your old rent + £100 is a reasonable market rent for your type of property in your area, then you will have no difficulty renting to someone else.

The potential new tenants will either have to accept your figure, or look elsewhere.

Agree with both above. Be grateful that they have given you fair warning that they could be cheeky demanding tenants. I would not want them at any rent!

 

This is a business!

No good deed goes unpunished!

Start with the LHA rate for the property (see gov.uk) so you know what you would get if they fell on hard times.

Then look at Zoopla, Rightmove et al and determine the market rent for a property that is as close as possible to the property you are renting out.

Then increase by 20% and see who bites

MOST IMPORTANT do Tenant Referencing

Make sure your Tenancy Agreement is up to date, I see such a lot of dog vomit Tenancy Agreements that don't comply with legislation from last 10 years or more.  Never add your own terms, always use a Solicitor.

Always have a break clause every six months with two months notice from month 4, I would give 1 year on first Tenancy considering the new legislation, but also have the contract become contractual periodic without a new tenancy agreement required.

Make sure Energy is NOT included, consider changing to a Pre-Payment meter with an App, Octopus are cheap and easy supplier, I am sure someone on here is with them and can give you a code for £50 credit to you and them for referral.

To be honest I would treat the person you have been referred to as just another applicant.

As I said, this is a business and new legislation will eventually come that limit your options (currently delayed by hogwash excuse).

MESSAGE

Dear Newbie

I am sorry to disappoint you, whilst I am grateful for the referral it is my intention to rent at the market rate as I have been affected by the financial crisis and am spending money on the property to improve the heating etc.  I will be using Tenant Referencing including employer for all who are shortlisted, the best I can offer you is first refusal from the shortlist.

Best regards

NewLandlord

Quote from: Newlandlord on November 05, 2023, 11:53:08 PMHi,
My tenants are leaving my property soon. They proposed me new tenants. I am happy with them (as they are a recommendation from excellent tenants) I will be doing some works at the property between tenancies (re-Newing all the heaters). As that, I increased the rent by £100 and due the economical situation. He said he was hoping to pay the same amount than the previous tenants. Please could you help me to write a politely and effective message  to him to meet in the middle (increase of only £50).
Thank you

I always do a maximum of 6 months fixed term (or initial term if it's going to be contractual periodic). Break clauses are always a pain.