Hi all,
I'm new to this forum but thought it seemed a good place to get some opinions as I understand there isnt a direct answer to my question.
I own an immaculate 5 bedroom house in London which I let to professional sharers. They have an annual contract which they all sign in November but apart from this I'm pretty lenient on terms, minimum of 6 months for each person to ensure return of their part of the deposit but apart from that they can give a month's notice at any time and the remaining tenants find someone they can share with. This has worked well and the flexibily ensures they usually each stay 1-2 years.
I have someone now wanting to move out in September at the end of her first 6 months which is fine. 1 of the other tenants however wants to move into her room & have me rent out his instead. The only problem is that I'd probably greatly increase the rent for a new person into that bedroom as its been re-done and I've greatly fallen behind with market rents. I do rent lower than most for the area anyway to ensure no void periods which I prefer.
I've had the same scenario before with another tenant wanting to do the same thing but not pay anymore for a far larger room in the property and she ended up very annoyed at me. I subsequently rented the larger room at a 20% increase in rent to the first eprson who saw it. Even 1 of the tenants themselves has admitted that they never have any trouble finding anyone to move in, nobody ever says no to it ....
So my dilemma is do i tell the tenant who now wants to move room that he'll have to pay more? They do all assume that tehir rent will be the same if they move to another room in the house. The reality is that I'd prefer him to stay where he is but how do i put this politely and not have all my tenanats hating me as I am a very good landlord but they do try it on ....
Thanks!
I'm new to this forum but thought it seemed a good place to get some opinions as I understand there isnt a direct answer to my question.
I own an immaculate 5 bedroom house in London which I let to professional sharers. They have an annual contract which they all sign in November but apart from this I'm pretty lenient on terms, minimum of 6 months for each person to ensure return of their part of the deposit but apart from that they can give a month's notice at any time and the remaining tenants find someone they can share with. This has worked well and the flexibily ensures they usually each stay 1-2 years.
I have someone now wanting to move out in September at the end of her first 6 months which is fine. 1 of the other tenants however wants to move into her room & have me rent out his instead. The only problem is that I'd probably greatly increase the rent for a new person into that bedroom as its been re-done and I've greatly fallen behind with market rents. I do rent lower than most for the area anyway to ensure no void periods which I prefer.
I've had the same scenario before with another tenant wanting to do the same thing but not pay anymore for a far larger room in the property and she ended up very annoyed at me. I subsequently rented the larger room at a 20% increase in rent to the first eprson who saw it. Even 1 of the tenants themselves has admitted that they never have any trouble finding anyone to move in, nobody ever says no to it ....
So my dilemma is do i tell the tenant who now wants to move room that he'll have to pay more? They do all assume that tehir rent will be the same if they move to another room in the house. The reality is that I'd prefer him to stay where he is but how do i put this politely and not have all my tenanats hating me as I am a very good landlord but they do try it on ....
Thanks!