Summary
Growing revenue is essential for landlords to keep up with inflation. One key way to increase earnings is through rent increments. And with recent data showing that UK rents rose by 6.2% year over year, now is the perfect time to increase your rent.
However, you need to maintain a delicate balance between profitability and tenant satisfaction. Factors to consider include local market conditions, legal restrictions, your property’s unique circumstances, and the proper way to notify tenants.
This guide will walk you through the process of navigating rent increases, providing you with the knowledge and strategies to make informed decisions that benefit both you and your tenants in today’s dynamic rental market.
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