Without specifics it's impossible to advise., I am having issues with my letting agent / building manager I believe that he has made a miscalculation on the RPZ rental increase
Hi, the tenancy began June 2021 and the rent increase kicked in July 2022, the rent was set at 1150, with additional 45 for bins per tenancy agreement, so total 1195.00. now the payment I am receiving is 1224.00.Without specifics it's impossible to advise.
Please tell us:
When did tenancy begin?
When was last increase (if any)?
How much was the recent increase?
It looks to me like it should be 1218 ie. 1150 x 1.02% plus 45 for the bins, but the difference is so small I would not worry about it.Hi, the tenancy began June 2021 and the rent increase kicked in July 2022, the rent was set at 1150, with additional 45 for bins per tenancy agreement, so total 1195.00. now the payment I am receiving is 1224.00.
Thanks for that..It looks to me like it should be 1218 ie. 1150 x 1.02% plus 45 for the bins, but the difference is so small I would not worry about it.
He did.. but the rent was set at 1150, with additional 45 for bins per tenancy agreement, so total 1195.00. now the payment I am receiving is 1224.00. which means that he calculated the increase from an incorrect amount being 1195 and not 1150.. I want to serve a termination notice on this tenant and Im concerned that this miscalculation will cause issues for me.The agent should have used the RPZ calculator on the RTB website, and sent a copy to both you and the tenant, to show their workings.
Are you sure you have your dates correct?
You say the rent increase was implemented after 13 months - which should be 2.2% - but the agent seems to have increased by 2.5% - indicating that they calculated 15 months.