Tenants and their agents need to carefully check the figures and justifications used by landlords in their arguments for rent increases, warns the Tenant Farmers Association.
Optimistically high output prices, unrealistically low input costs and inappropriate rental values for residential elements in landlords’ cases were not a surprise, while some proposals also contained factual inaccuracies, said TFA adviser Katy Blagg.
“Dealing with a rent review negotiation can be fairly daunting, particularly if the landlord appears to be seeking a significant increase in the level of rent being paid. However, it is important not to be overwhelmed and to ensure that any information provided by the landlord’s agent is checked and properly evaluated.”
As well as getting a second opinion from the TFA, members can also benchmark current or proposed rent levels through the association’s online rent databank to ensure that rents were not out of step with what others are paying.