I think you are being very kind to your landlord. Unless their buy to let mortgage rate has suddenly gone through the roof (interest rates are falling but I suppose there is a possibility that they have come off a long term very low interest deal and gone onto a high one) then they ARE just being greedy by putting your rent up so much.
I am so sorry you are facing this situation. The housing crisis in the UK is so cruel (and it infuriates me that it was so avoidable).
Well, I think I might be kinder to him than he deserves too! If he adjusted the rates according to the mortgage rate, he wouldn’t reach more than a 5% increase. What he’s trying to do is adjust the price of our rent to the average of similar properties in my area, which have unfortunately seen increases of between 30% and 40%—in some cases even 50%, can you believe it? The housing market in Florida is so insane, and rents are subject to even higher fluctuations because the number of people with bad credit scores has risen, meaning they can’t afford to finance a house. This pushes them into the rental market, further increasing the demand for rentals, which drives prices up even more. It’s a math that is especially cruel to those who are already struggling, and we’re aware that the UK and Canada are going through similar circumstances. Hope things are better for you and the UK too!
Sorry for my assumption you were in the UK, it felt such a familiar tale of what is happening here (especially in London and other big cities - I live in Manchester, in north west England). Thanks for explaining the Florida situation too.
I’m very very lucky, in that my husband and I first got onto the housing ladder just after we got married 16 years ago just before the global credit crunch, where mortgages were almost unavailable in the UK for over a year. We had two professional jobs so could afford to save for the deposit and had credit available to us.
House prices have doubled and even tripled in our area of the city since then, which is heartbreaking for younger and lower income people (while I’m ashamed to say many people my age and older rub their hands with glee at the paper gains they have made just by being lucky enough to buy a house early enough to afford it).
42%? Wow! Sorry to hear you've been thrown into this. I guess one of the really hard aspects of moving is the executive function it demands to just organise and pack - it's stressful enough for NTs! Then, as you say, you have the difficulty of establishing new routines in a new place.
Exactly! It raises my anxiety and probably my blood pressure to see everything around and imagine how I’d fit it all into boxes... As of now, though I’m not very hopeful, we’re trying to negotiate a 10% increase, but guess what—it has opened our eyes to the necessity of saving for a down payment and financing a house, so we can use the money we’re wasting on rent to pay installments on our own property. Reaching those savings won’t be easy, but moving to a cheaper place for 2 or 3 years will probably help us achieve that (I never want to be in this vulnerable situation with exorbitant rent hikes again). Thank you for your message! ❤️❤️
As someone recently diagnosed with ADHD and also having been forced to move last minute (in the most chaotic and stressful way), I can relate. It’s been the most soul crushing experience I’ve had in a long while.
Thank you for your kind words. This is the house I have been living in since my ADHD diagnosis, and I didn’t realize how many of my efforts to establish an effective routine were tied to this place. I hope things have gone well for you. As for me, things are still uncertain, but I’m still processing the many possibilities that could arise!
Same here! I’m trying to just take each day as it comes and break things down into smaller tasks. It’s super frustrating not knowing where anything is at the moment, and things don’t work like they used to. I’m learning that sudden changes like this are not easy for someone with ADHD. Sending you a big virtual hug!
Ah man, that sucks Josh. That is an insane rent increase. I hold my breath every year waiting to find out how bad my rent increase might be. But man, that is just ridiculous and truly inhumane.
Good luck bouncing back, whether it's moving, or eeking it out.
I think you are being very kind to your landlord. Unless their buy to let mortgage rate has suddenly gone through the roof (interest rates are falling but I suppose there is a possibility that they have come off a long term very low interest deal and gone onto a high one) then they ARE just being greedy by putting your rent up so much.
I am so sorry you are facing this situation. The housing crisis in the UK is so cruel (and it infuriates me that it was so avoidable).
Well, I think I might be kinder to him than he deserves too! If he adjusted the rates according to the mortgage rate, he wouldn’t reach more than a 5% increase. What he’s trying to do is adjust the price of our rent to the average of similar properties in my area, which have unfortunately seen increases of between 30% and 40%—in some cases even 50%, can you believe it? The housing market in Florida is so insane, and rents are subject to even higher fluctuations because the number of people with bad credit scores has risen, meaning they can’t afford to finance a house. This pushes them into the rental market, further increasing the demand for rentals, which drives prices up even more. It’s a math that is especially cruel to those who are already struggling, and we’re aware that the UK and Canada are going through similar circumstances. Hope things are better for you and the UK too!
Sorry for my assumption you were in the UK, it felt such a familiar tale of what is happening here (especially in London and other big cities - I live in Manchester, in north west England). Thanks for explaining the Florida situation too.
I’m very very lucky, in that my husband and I first got onto the housing ladder just after we got married 16 years ago just before the global credit crunch, where mortgages were almost unavailable in the UK for over a year. We had two professional jobs so could afford to save for the deposit and had credit available to us.
House prices have doubled and even tripled in our area of the city since then, which is heartbreaking for younger and lower income people (while I’m ashamed to say many people my age and older rub their hands with glee at the paper gains they have made just by being lucky enough to buy a house early enough to afford it).
42%? Wow! Sorry to hear you've been thrown into this. I guess one of the really hard aspects of moving is the executive function it demands to just organise and pack - it's stressful enough for NTs! Then, as you say, you have the difficulty of establishing new routines in a new place.
I wish you the best of luck! ❤️
Exactly! It raises my anxiety and probably my blood pressure to see everything around and imagine how I’d fit it all into boxes... As of now, though I’m not very hopeful, we’re trying to negotiate a 10% increase, but guess what—it has opened our eyes to the necessity of saving for a down payment and financing a house, so we can use the money we’re wasting on rent to pay installments on our own property. Reaching those savings won’t be easy, but moving to a cheaper place for 2 or 3 years will probably help us achieve that (I never want to be in this vulnerable situation with exorbitant rent hikes again). Thank you for your message! ❤️❤️
As someone recently diagnosed with ADHD and also having been forced to move last minute (in the most chaotic and stressful way), I can relate. It’s been the most soul crushing experience I’ve had in a long while.
Thank you for your kind words. This is the house I have been living in since my ADHD diagnosis, and I didn’t realize how many of my efforts to establish an effective routine were tied to this place. I hope things have gone well for you. As for me, things are still uncertain, but I’m still processing the many possibilities that could arise!
Same here! I’m trying to just take each day as it comes and break things down into smaller tasks. It’s super frustrating not knowing where anything is at the moment, and things don’t work like they used to. I’m learning that sudden changes like this are not easy for someone with ADHD. Sending you a big virtual hug!
Ah man, that sucks Josh. That is an insane rent increase. I hold my breath every year waiting to find out how bad my rent increase might be. But man, that is just ridiculous and truly inhumane.
Good luck bouncing back, whether it's moving, or eeking it out.