I am a landlord on the RAS scheme; the 4 year contract is coming to an end. I have been asked by the council to renew for another 4 years + or evict the tenant giving them 16 weeks’ notice. I have built up a good relationship with the tenant and want to avoid this if possible however the rent increase comes under the new legislation so am only being offered 4% and no review for 2 years. The council give me 92% of the going rent at the moment but this was of a couple of years ago.
I have 2 options: a) sign for another 4+ years, b) evict and rent privately to a new tenant.
The question is if I take option b) because I am only on 92% can I set the new rent at 100% and then 4% increase, so can I increase the rent by 12 %.
I have 2 options: a) sign for another 4+ years, b) evict and rent privately to a new tenant.
The question is if I take option b) because I am only on 92% can I set the new rent at 100% and then 4% increase, so can I increase the rent by 12 %.