Being asked for a deposit - been in house for 7 years
Discussion
Hi all,
Just a quick question on behalf of my girlfriend. She has lived in the same private rented house for approx 7 years. When she initially moved in she paid a £250 non-refundable deposit through a redroom scheme (not sure what exactly this is...) to get in quickly, as she didn’t have the 1.5 month’s rent refundable deposit at the time.
Today she gets a new tenancy agreement through the door that starts next month (6 month fixed). Not only is the rent going up 16% from last year...but they are also asking for 1 month’s rent as a deposit out of the blue as well.
Is this required even though she has been at the property for 7 years already?
Is it worth negotiating the rent hike? It’s still below the area average, but 16% rise seems a big jump to me!
Thanks
Just a quick question on behalf of my girlfriend. She has lived in the same private rented house for approx 7 years. When she initially moved in she paid a £250 non-refundable deposit through a redroom scheme (not sure what exactly this is...) to get in quickly, as she didn’t have the 1.5 month’s rent refundable deposit at the time.
Today she gets a new tenancy agreement through the door that starts next month (6 month fixed). Not only is the rent going up 16% from last year...but they are also asking for 1 month’s rent as a deposit out of the blue as well.
Is this required even though she has been at the property for 7 years already?
Is it worth negotiating the rent hike? It’s still below the area average, but 16% rise seems a big jump to me!
Thanks
I know bugger all about these things, but my friend who was a long term good tenant ended up paying the same as he previously did when the new owner put up the rent.
I guess it is down to how much it will cost them to find a new tenant, rates in the area etc. Defiantly worth negotiating though.
I guess it is down to how much it will cost them to find a new tenant, rates in the area etc. Defiantly worth negotiating though.
Since no refundable deposit was paid, the landlord has no 'buffer' for any dilapidations which may exist at the end of the tenancy. Thus the request for a standard deposit for what is a new rental contract is not, in itself, unreasonable.
With regard to the rent being asked for the new lease, the only question is whether it is in line with the rents being asked and achieved for similar properties in the same area.
With regard to the rent being asked for the new lease, the only question is whether it is in line with the rents being asked and achieved for similar properties in the same area.
J2daG1990 said:
Alex Z said:
You don’t say if there have been previous rent rises?
If not, 16% in 7 years isn’t bad at all.
2 years before (2017) it went up 12% but other than that I think that’s it.If not, 16% in 7 years isn’t bad at all.
We're gradually selling ours off, but the remaining ones are going to get a shock rise this year. They will still be under market though.
J2daG1990 said:
Breadvan72 said:
It's a negotiation. Negotiate.
Any tips on the best way to approach? Written letter or phone call and what to mention?Thanks
I'd start with saying it's unexpected and both together are going to cause problems. Then ask what they can do. Then counter what comes back and that will be about it.
You'll get nothing if you don't try.
Bert
I had the similar s
t when I was renting, 10 year tenant, it wasn't a deposit it was admit fee for a new contract. I just referred them to my existing contract, just the number of the relevant section, the rolling monthly section.
They'd have likely given me notice, but I dropped the flats owner a quick text to give him a heads up that they were being silly buggers, and he put a stop to it.
I found out when I eventually moved out the new management company had lost all the paperwork for that flat..
I rented the flat furnished and when I moved out they tried taking the cost of removal of the furniture from the deposit, A quick text to the owner again sorted that.
If a contract is in place just refer to that, just be aware they may give you notice as set out in your contract and it may cost you more in the long run.
I'm the type of person will cut off his nose to spite his face.
t when I was renting, 10 year tenant, it wasn't a deposit it was admit fee for a new contract. I just referred them to my existing contract, just the number of the relevant section, the rolling monthly section. They'd have likely given me notice, but I dropped the flats owner a quick text to give him a heads up that they were being silly buggers, and he put a stop to it.
I found out when I eventually moved out the new management company had lost all the paperwork for that flat..
I rented the flat furnished and when I moved out they tried taking the cost of removal of the furniture from the deposit, A quick text to the owner again sorted that.
If a contract is in place just refer to that, just be aware they may give you notice as set out in your contract and it may cost you more in the long run.
I'm the type of person will cut off his nose to spite his face.
Are your current contractual terms still in effect? It may be that you have held over as a tenant on equivalent terms to those stipulated in an old lease that had a fixed duration, but which has been extended by express agreement or by conduct. If so, your starting point should be that you are willing to consider a rent rise, but that a rise of 16% in one year is too much. You might wish to argue for rent rises annually in accordance with the RPI. Your starting point on the deposit should, I suggest, be that you are not willing to provide a deposit, having lived in the property for years without a deposit. You might move on that position if pushed, but do not say so at the outset.
Negotiate politely and honestly but firmly. Make a note of anything agreed and confirm the agreement in writing.
Negotiate politely and honestly but firmly. Make a note of anything agreed and confirm the agreement in writing.
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