How much can rents in England be increased by?
For a landlord the new year may prompt a financial review of their investment. Is it making money and are they charging the right rent? It’s therefore important to know how much rent can be increased by in England.
There is no actual set amount which a rent can be increased, other than the increase must be fair and realistic and is in line with the average rents in the area.
It is advisable for any increase to be supported by comparable evidence at the time of the proposed increase. Rent increases can be introduced either by a rent review clause in an AST, which would state when the rent would be reviewed, the amount and the notice to be provided; or by serving a section 13 notice if no rent review clause is included in the AST.
If you have a periodic tenancy then rents can only be increased once a year, either by a rent review clause or by serving a section 13 notice. On a fixed term contract rents can only be increased at the end of the fixed term.
Tenants have the right to apply to a first tier tribunal if they feel the rent is unfair.
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Should you have a property that needs an up-to-date rent or sales appraisal, or you have any questions about rental increases please do not hesitate to contact our office - 01474 321957.