At least you tried, yourself and your tenant have a good case story for the housing minister.Thanks for the responses, I hate to have to do this but Ive no option.
K
Not a hope any of us landlords that used to do this or left rents as is will ever do so again thanks to the inept government constant battle against landlords. RPZ has been a disaster. Expect loads more like the OP when their mortgage rate fixes end.I mean I assume you would be happy to reduce the rent back down should the rates go back down.
I was a landlord before you have my sympathy, never again!Not a hope any of us landlords that used to do this or left rents as is will ever do so again thanks to the inept government constant battle against landlords. RPZ has been a disaster. Expect loads more like the OP when their mortgage rate fixes end.
The rent is about 600 below market rates due to long standing tenancy and rpz, 16 yrs. When you have a tracker interest payments were low but tax was high and now interest payments are high and taxes are lower. Complying with constantly changing rules is tough and the only landlords making significant gains are new ones, corporations or people who break the rules. Id actually welcome the rtb cracking down on rogue landlords as it would change the behaviours and perception of landlords, their not all bad.At least you tried, yourself and your tenant have a good case story for the housing minister.
I mean I assume you would be happy to reduce the rent back down should the rates go back down.
Awful situation for both to be in x
You have to refuse. Your tenant if they decide to move house can then claim the overpayment back.Hi,
I gave my tenant notice that i intend to sell the property per the RTB guidelines. I explained that the mortgage cost has gone up 384 per month but the most i could increase it was 52 per mth per RTB caalculator and so it has become unaffordable and the hassle as well. The tenant has offered to pay more than the 52 per month and i would probably accept their offer but I think i would be breaking the rules (the law) and so I think i have to refuse. Is my reading of this correct in that there is nothing the tenant can do here as i have to comply with the rules and this sell the property is the only option available.
K
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