I have great tenants, but I have left a painful conversation overdue, any tips?

We are in the exact same boat so any tips would be VERY helpful

Similar problem here, large property in 4 flats all rented to vulnerable individuals all male. They all claim LHA at £450 a month which includes gas for heating. Prior to the rate rises/energy/EICR etc this worked very well and I am firm friends with all these guys, we go for coffee together etc and I enjoy their company.
As of the last interest rate rise though I can no longer make the property work as an investment and will be listing it for sale this month.
I have approached the local council/local access to housing charith and local energy concern charity, all of whom don't actually care at all, all this 'call us for help' click bait we see is just that and amounts to nothing in the real world. So when this place sells I can only hope it goes to a cash buying landlord who can carry on the legacy of helping these guys out. If not they will simpl;y put what they can carry in a carrier bag, walk out the door, sit on the kerb and thats it for them.... No shelters or charity for men on the street

I have an HMO with 4 tenants who have advised they have mice, this is the first time in 16 years the property has mice. The cleaner has advised they have to collect rubbish from all over the placeand empty bins each week they visit. The TMO have advised there was a problem on site but it was dealt with a while back.

Who is responsible for paying to have the Environment visit to clear the mice, I believe it's up to the tenants to pay but have offered to pay for a deep clean afterwards.

These are your tenants. it is a commercial relationship.
A small increase in most years wil keep them in good shape. A small increase will be less than the cost of moving.
If they choose to stay fine if not they move on and you get the current market rent.
If you were a farmer you would cull part of your flock every year. Nothing last for ever!

Reply to the comment left by Michelle Smith at 08/11/2022 - 12:57
Jamie, I believe it is up to you to ensure the property is as mouse proof as possible ; so fill all holes, wire mesh over air bricks etc, check backs of kitchen units, conduits etc. Then it’s up to your tenants behaviour and cleanliness; plastic containers for all perishable foodstuffs and ensuring no crumbs etc. Also if a tenant has been there 6 months and then get mice then it’s their issue if you’ve done your bit. Harder when you have shared facilities though. A goodwill clean or exterminator can help as a one off plus an educational leaflet. Councils don’t see mice as a problem though, only rats.

Thank you for the info, and yes, they've been in the house almost a year, we've never once had a mouse even when the place was being totally renovated..

From a tenant side of things this is what I would prefer.

Your good tenants out there, your long termers, the ones that dont cause you any hassle, they know about the situation with other rents out there.

I would hope that there is some sort of open engagement with your tenants and what I would hope you do is that you give a prewarning that an increase is coming instead of it being a unexpected shock.

I may be a complete outlier here, but I went to my landlord before he even contacted me to ask him what my increase was going to be this year. Then again, that's the kind of relationship we have. It's one of mutual respect that I wish all other Landlord/tenant relationships were like.

Knowing that there is going to be an increase gives me the chance to make preparations and budget as needed.

A couple of things that i have read in this thread that I wanted to mention.

You are not doing me an injustice by not increasing the rent. You are instead helping me through a cost of living crisis. Please do not use this as a reason because it is a terrible reason. We can be bettering ourselves, however that does not mean I will have more money. I am trying to save, but increases across the board now means that my savings are going down, not up. By not increasing the rent by as much as you could, you at least give me a chance.

Using Market Rates also doesn't come over great. It comes over as you just want to get as much money as everyone else and in our minds that makes you the same as all the other landlords out there. It's not good optics.

Just be honest and talk about the situation with you. How price increases have affected you. It's a lot easier to swallow if we know there is a human being on the other end of the conversation. It's a lot easier to come to terms if we know that we are helping another person with their own costs, as opposed to someone that is out to get as much as they can without reason.

Finally, and I personally hate seeing this, is when I see statements to the effect of "It's a business, you have to take the personal side out of it".
This is not a business if you don't want to deal with people. You are partly responsible for the well being and livelihood of actual real people and there are expectations that come with that. If you want to be completely hands off and not have to deal with the real world impacts to another person by your personal decisions, find another investment.

Reply to the comment left by The Forever Tenant at 08/11/2022 - 15:43
I just wanted to say how much I appreciate you adding your perspectives to many of the topics discussed on this forum. Having a balanced view and open discussions helps us all. Keep up the great work!

Reply to the comment left by Blodwyn at 08/11/2022 - 10:23
I’d like to believe that most landlords on here are like these 2. I know I certainly am! Shame the rest of the country see us as the scum of the earth. I’m almost becoming embarrassed to admit I’m a landlord. How sad!

I review rents every 2 years.
I find an informal chat normally gets everyone on the same page and allows me to get a feel for my tenants circumstances. I then instruct the letting agency accordingly.
My tenants are an eclectic mix, and although I increased all rents, I will be reducing the rental, nov thru feb, for 2 of them as they having serious problems not of their making. I'd rather do that and avoid a rental default / eviction scenario with all the costs that implies. Besides I like my tenants.
As the 2 year reviews were late last year and early this year my tenants are 'secure' in the knowledge that there will not be any increases for a while. That said, next time round I will base the increase on a % rather than a fixed amount.