A landlord in York, who has managed student Houses in Multiple Occupation (HMOs) for 25 years, has reported a substantial increase in energy bills. For over two decades, the landlord let properties with bills excluded, but the local market in York has shifted, with students now often requesting bills-included agreements.
Despite annual rent increases, the landlord states that energy costs are now exceeding these increases. The landlord also noted that tenants are already financially stretched, making it difficult to raise rents further to cover the rising energy expenses.
The landlord expressed concern about four fixed-rate mortgages on their properties, plus their own home mortgage, coming to an end next year. This is compounded by an anticipated 20% rise in energy prices in January.