In a cost of living crisis, it’s worrying to be hit with any increase in regular outgoings. Usually, we can respond by taking our custom elsewhere. But when we face a rent increase, it’s not so easy to up and leave. So while it’s natural to feel stuck and left with little choice, be assured that if that happens, there are measures we can take to contest the change.
While mortgage rate increases play a part in today’s rental crisis, the root issue is arguably unchecked supply and demand. In London, for example, research from the London School of Economics found a 41% reduction in the number of