Doubling your rent (almost) is outrageous, no matter which way you look at it. This raises the question of where the "economic instability" comes from. I'm sure it has its original causes, but a major factor is how people and businesses (landlords) react to it. In other words, you could argue that it is precisely your landlord who is promoting this economic instability.
Of course you could also add your part to making it all worse, by moving out. Then the landlord would have to look for new tenants who are willing and able to pay the high rent for a property that most likely will not have improved in quality. Given the situation you described, it doesn't sound like there are too many potential new tenants like that.
Or... you could offer the landlord to tackle the problem of the economic instability together. You could offer to pay a higher rent, as long as it is reasonable. He in turn would agree to limit his increase to... I don't know, let's say 20% max. This is where you could negotiate...
Even though going to court may cost time and money, and is the last thing you would actually do, mentioning it may still be in your favor. After all, the landlord probably does not want to get caught up in a long legal battle either, particularly since the law seems to be on your side. Being on social media, you also have the power to tell everyone to stay away from his company, where the rent could suddenly double overnight. But clearly, you're a good person, and don't want to do either of these things. Instead, you are willing to be reasonable and negotiate a reasonable increase.
Not sure, my ideas may seem a bit naive in light of all the factors, but I think a good response to landlord's letter should include these potential results, seeking a possible solution. Wishing you all the best, whichever way you take.
Thank you so much, it's almost as if you feel the same way I feel. I have a meeting with the house agent tomorrow, I'd calmly attend and discuss things and see how it goes. I'd end up paying and staying most likely. However, I'd put up a plead or something to get a reduction at least.
Thanks for stopping by and I appreciate your thoughts.
Well, as I was reading your post the thoughts that came to mind were kinda like: "I'd go camping in the bush, or on my cousin's roof, or something, before I'd submit to paying twice for the same apartment." So all the best for your meeting with the agent. I hope you'll get some reduction out of it!
You're right💯