Rents are rising at the fastest rate since records began in 2016, with the number of people renting more than doubling in the past decade. For many people across the UK, specifically the younger generation, in the middle of this cost of living crisis, stepping onto the housing ladder for the first time is out of reach.
The cost of living crisis is putting a pinch on landlords too. Interest rates are rising, mortgages are increasing and the upcoming “Renter’s Reform Bill” is making a lot of landlords nervous.
So, with costs rising for everybody, usually tenants may find themselves plugging the gap with rent and bill increases. But what are your rights if you’re a private tenant facing an increase in your rent?
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Can my landlord increase my rent?
Most tenants will have an agreement known as an assured shorthold tenancy. Some of these will be fixed, for six months or a year for example, whilst others will be what is known as rolling, where rent is paid weekly or monthly with no fixed end or renewal date.
In England, landlords are usually allowed to only increase rent once per year and must give their tenants at least one month’s notice. The increase must be “fair and reasonable”, with total rents in line with other properties in the area.
If your agreement is fixed, then normally landlords cannot increase the rent until the fixed term ends unless there is a rent review clause in the agreement. Again, tenants must be given at least one month’s notice before rent is increased, though this is increased to six months’ notice if the fixed term is a year.
What if I cannot afford a rent increase?
It can be difficult to know what to do if your landlord increases your rent to a figure that is unaffordable to you. The good thing to know is that you do not need to move out straight away if your rent increases too much.
According to Shelter, the housing charity, your landlord must follow a legal process if they want you to leave. They must give you a valid notice and apply to the court to end your tenancy, which can take months.
If you decide that you want to leave, consider that your tenancy will not end just because you move out. You may still be responsible for rent and you may lose your deposit unless you reach an agreement with your landlord.
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