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@handtightenonly
The agents dictate the market value.
They will have suggested that the landlord increase his price. Most landlords are happy with their tenants paying what they do - it's merely the agents wanting an increase in revenues and they do this by appealing to the greed of the landlord.
I have an agency who look after my property and every year they've suggested that I increase the price. I've avoided a price increase every time and have even managed to sign my tenant into a long term contract (3 years) at a fixed price.
Most landlords never want to see their property empty - if it's empty, it's costing them.
When the last flat Mrs b&d and I rented in London was up for renewal, the agency wanted to charge us about a hundred quid, to which I replied: "Don't be so fucking stupid - tell the landlord that we'll leave unless this gets waived..."
Neither side paid.
Our landlords were as good as gold - as far as maintenance and that kind of thing was concerned, we dealt with them directly.