We have been renting a small garden plot at the back of our property for £25 a year. The land has just been sold and the new owner is proposing to charge us £500 a year to include a parking space and with the option to buy in 12 months time. Can he increase the rent by this amount?
If you have been renting the land on an annual basis and it’s not connected (for instance) to the lease on your house it’s likely that the new owner can increase the rent as he chooses when your current agreement comes to an end, you can of course negotiate. Both the rent and the purchase price of the plot will depend on market forces: i.e. whether anyone else is interested. If you have a lease agreement you should show it to a solicitor.