Am I only allowed to increase the rent by 4% every 12 months, even if the current rent is 62% of the market value?
When was the rent last determined?Great. So it’s possible the OP can increase the rent by close to 20% this year to make up for the lost years since the RPZ came in, then 4% next year etc etc
Well the calculator gave me 4%, so I'm a bit confused.
The rent was set in 2011 and raised once in February 2016. According to that I should be able to increase the rent by 12% (3 times 4%) ?
I would like to increase the rent by 10%, which I feel would be fair to the tenants and still keep it highly attractive as it's well below market value.
I'm afraid so.Is this really the case even if I got a new tenant I would not be able to get back to market rent levels because of the RPZ?
The property is currently outside a rent pressure zone but its looking likely that it will become a RPZ.
Two years is the break point afaik.
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