stone.brisk
Homeowner
I’m reviewing the rent on a detached home in London. Comparable asking rent appears to be around £1,051, while the current tenant pays about £985. They always pay on time, look after the property and report maintenance problems before they become expensive.
The difference is only £66 a month, so I’m conscious that even a short vacancy, refurbishment between tenancies or other turnover costs could outweigh an increase. I also don’t want to damage a good landlord-tenant relationship, but leaving the rent unchanged indefinitely may not be sensible either.
How would others approach this: keep it at £985, move it partway toward the apparent market level, or seek the full £1,051? I’d particularly welcome thoughts on how much weight to give payment and maintenance history, as well as the current local notice rules and any deposit-handling implications if the rent changes.
The difference is only £66 a month, so I’m conscious that even a short vacancy, refurbishment between tenancies or other turnover costs could outweigh an increase. I also don’t want to damage a good landlord-tenant relationship, but leaving the rent unchanged indefinitely may not be sensible either.
How would others approach this: keep it at £985, move it partway toward the apparent market level, or seek the full £1,051? I’d particularly welcome thoughts on how much weight to give payment and maintenance history, as well as the current local notice rules and any deposit-handling implications if the rent changes.