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Rent Review

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kim68

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Just wondered if anyone could give me some advice on rent reviews.

I'm due one this year and I'm wondering if I'm legally entitled to refuse an increase of my rent ( I have a review every 3 years and it never goes down!) or if I can ask my landlord to reduce it slightly during the current economic climate?
I have never missed a payment or been in arrears so I feel I am a good tennant
Also does anyone have any idea of the going rate for an out of town salon (Woking area) or how/where I can find out what other businesses in my area pay?
 

Tinxy

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Chances of rent ever going down is slim to none... you can refuse the increase and your landlord can serve you notice to vacate... it's really that simple.

There is nothing to stop you asking for a rent reduction but unless it's a super nice landlord then the answer is likely to be no. I did a stint in my youth as a lettings negotiator and rent review basically is a chance for the landlord to increase the rent in line with market increases. If a landlord feels a tenant is worth holding on to they will often stick to the rent set in the past longer than they maybe should... if you haven't had yours increased in 3 years then check local prices but unless yours is massively overpriced in the first place I would expect you to be under or on par with other locations - is it worth risking being forced to find new premises? How much custom might you loose from passing trade?
 

kim68

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I'm very lucky to have a nice landlord so I might take my chances on asking if he would keep it as it is for now rather than push my luck in asking for a reduction!
I'm not sure how to go about finding the average rent for my area though...do I just go into the local businesses and ask them outright or is there somewhere I check them out online?
 

stephanie_87

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A landlord has to keep rent in line with current market levels, in this current climate I highly doubt your landlord will put the rent up, unless you have been paying an exceptionally low rate for the last 3 years. Landlords are just happy to have paying tenants at the moment. I wouldn't panic hun.

xx
 

LondonRee

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I would calmly state that you are keen to stay, that you look after the building/room well, that you have never been late etc etc.....most landlords want to keep a good tenant rather than risk being empty or having a difficult one.

I did that with my flat this month, and she was just keen to keep me, so she was happy to keep rent the same.
 

Tinxy

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The only way to find out about other premises is looking at what is available... if you rent a room then ask other salons if they have any available and if so how much - or go to a commercial lettings agent and play innocent and ask if there are any premises around and how much... they'll have the best idea of what premises might be round and the prices... assuming there are any :)
 

Florry

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I had a rent review a few years ago and my Landlord tried to increase it by 50%.
I used the services of a Chartered Surveyor who charged me 10% of my rent - but got me a nil increase for the next 3 years so well worth the 10% fee.

If you can discuss directly with your Landlord then obviously that wont cost you any fees - but if they insist on an increase its worth speaking to a Surveyor who will be able to tell you what the going rate of rent is in your specific area and can fight your case for you. If you go down this route - just make sure you agree a fee with the Surveyor before you start. hth
 

misslatham

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Maybe call his bluff and say (professionally) due to current economic climate if he increases for 3rd year running then u may be forced to look for other premises! Wots the worst that could happen x
 

Tinxy

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Misslatham I think the OP only has a rent review every 3 years... Which is generous - down where I am rent reviews are usually annually!
 

kim68

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Thanks for your advice everyone xx
 

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