London Flat renewl - LL wants more but is advertising for even lower than we rent now

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    London Flat renewl - LL wants more but is advertising for even lower than we rent now

    Hi all,

    Hoping for some advice. Myself and partner rent a 2 bed flat in London. Our contact is £1960 pcm and live in a large complex owned by a corporate LL. Its come to renewel time and they want to increase our rent by 5%, however there are active listings on Zoopla, Rightmove and their corporate website for the same 2 bed flats for £1500 and £1800. On their website they state 2 beds are approx £100 pcm below what we pay currently (which annoyed us when we moved in as we went through an agent and didn't see the corporate site).

    I wanted to check whether the LL is allowed to increase our rent while advertising the same flats in the same building for much less?

    Kind regards,

    Mel

    #2
    The simple answer is yes, all they are doing with the adverts is akin to what Curry's or any other retailer do, they are offering the item at that price, if they say to you that they want .... £2400 or whatever and you discuss it with your partner and both agree it is a great deal ! Then that is also a deal and you pay it after agreeing with the Landlord. Have you called your agent/landlord and asked why they are offerning a similar flat to yours for a lower price ?

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      #3
      Simple answer is YES. The other flat's may be owned by other person, and the corporate just acts as middle agents for the whole building, and advertises it on it's own website, so whatever the other owners want they will advertise it.

      Since there is no fee's anymore there is nothing stopping you from you getting one of these and move out, the only thing is the hassle of moving, but since it's in the same building it's not miles away. Alternatively you could tell the LL your interested in the other flat and want to move, or you will be happy to stay at the same rate as the other flat, remember the size of the other property may be smaller, there may be other differences such as the quality of white goods or lack of, etc, there may be a number of reasons why it is lower.

      Comment


        #4
        Originally posted by Hudson01 View Post
        The simple answer is yes, all they are doing with the adverts is akin to what Curry's or any other retailer do, they are offering the item at that price, if they say to you that they want .... £2400 or whatever and you discuss it with your partner and both agree it is a great deal ! Then that is also a deal and you pay it after agreeing with the Landlord. Have you called your agent/landlord and asked why they are offerning a similar flat to yours for a lower price ?
        Thanks for the reply.

        We've emailed the LL with screen shots/links to the same flats in our building (all 2 beds are the same size but some are slightly different layouts, we looked at a few before we settled on ours).

        But all were same price at time of looking. It's a new build complex with built in goods and all are alike. So it's very frustrating. It seems there's no benefit or loyalty to renting the same flat!

        Comment


          #5
          Originally posted by ash72 View Post
          Simple answer is YES. The other flat's may be owned by other person, and the corporate just acts as middle agents for the whole building, and advertises it on it's own website, so whatever the other owners want they will advertise it.

          Since there is no fee's anymore there is nothing stopping you from you getting one of these and move out, the only thing is the hassle of moving, but since it's in the same building it's not miles away. Alternatively you could tell the LL your interested in the other flat and want to move, or you will be happy to stay at the same rate as the other flat, remember the size of the other property may be smaller, there may be other differences such as the quality of white goods or lack of, etc, there may be a number of reasons why it is lower.
          Thank you. Our LL is a huge corporate one and they own the complex so no individual LLs. All 2 beds are of same floor size, but might have a slightly different shaped kitchen or bedrooms on one side of flat rather than one either side. As you can imagine we are frustrated as wouldn't mind paying but it's the principle. We just wanted to check it was actually legal as seemed strange.

          Comment


            #6
            I'd decline the renewal and ask for a reduction to the level of one of the properties being advertised that seems closest to your current flat.
            Send them a copy of the ad with your request.

            Big company letting isn't like we amateurs, and my guess is that they have a policy of automatically increasing rent by a percentage every year.
            That will happen regardless of their other properties and the going rates.
            They may even operate with lower rents for new tenants who then fall into the same gradual increase policy.

            It's a very common pricing policy - look at broadband, streaming subscriptions, insurance (until the government tried to stop that).
            Applying it to residential letting makes a lot of sense - you wouldn't mind paying the increase (but naturally might not want to) so, had you been too busy/distracted to have a look around, you might have simply accepted the increase.
            Multiply that across their entire portfolio and it's good business.

            See what happens when you push back?
            Ideally, the potential void and cost of "onboarding" a new tenant is more than £1176.
            When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
            Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

            Comment


              #7
              Just rent one of the other flats instead

              Comment


                #8
                https://england.shelter.org.uk/housi..._rent_increase

                Comment


                  #9
                  Originally posted by Melxg09 View Post
                  It seems there's no benefit or loyalty to renting the same flat!
                  Maybe not with this landlord, but i assure you there is with others, me included, i keep my rents below market levels exactly beacause my tenants are exellent and have been with me for a while now, i do not want them to leave and they do not want to leave...... so the arrangement works, i think most small PRS landlords are like me, the bigger corporate world though !!!

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