r/uklandlords • u/mcjimmyjam • 25d ago
TENANT Can someone explain reason for rent rises (Scotland)
This is a genuine question and not meant to cause friction in any way.
We are renters just about to buy our own property. But right now we rent a cottage flat in Glasgow. My current landlord (really nice guy) bought it for 66k in 2016 and last year remortgaged it for 100k.
When we moved in we paid the deposit, first and last rent. The rent when we moved in was 550. This was in 2019. The rent has now gone up to 850 and the landlord says it’s due to ‘rising costs and market rates’.
I asked on a community page these costs would be as the mortgage for the flat is still under 600. I got a lot of answers from landlords saying it’s because flats/houses are being wrecked and it’s to protect themselves from bad tenants.
I then said in my experience (working in the housing/homeless sector) this makes no sense as continuing to raise rents when wages are stagnant will actually be a contributing factor in unpaid rents.
We can comfortably pay the rent, so this isn’t an issue and I get that costs have increased. But what costs? As I said we’re just about to buy our own house and will be upgrading in a few years with the hope to rent the first property out. But I don’t think I could charge such extortionate rents unless there’s a genuine reason too.
What costs are associated with letting a flat aside the mortgage and building insurance? And have these went up so much that a one bed flat can easily go for 800+ ?
1
I cannot deal with these just eat drivers , genuinely making me want to quit my job.
in
r/glasgow
•
5d ago
Wondered the same.