“It will cost me an extra £2,500 a year,” said France, who owns seven properties in Merseyside and Essex, including three homes in Chelmsford, which are houses of multiple occupancy.
“I can’t absorb that kind of hit. We’ve already been hammered by rising interest rates and other changes to the sector, and I’ve tried to feed that through gently to tenants. But I had to write to all of them and say I’ve had to do some recalculations and rents will be going up again from next year.”
How much are they making a year off seven properties? Isn't £2500 the same 2-5% cost of living hike we've all seen? Hell some people who commute to London have taken that yearly hit (or almost) on public transport price hikes alone!