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landlord bashing

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Comments

  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    AdrianC wrote: »
    £750/mo is £9k/year. Less the service charge/ground rent is £8,100. For a £135k property, that's about a 6% yield - right up there at the top-end.

    90% mortgage (£120k) is £540/mo, plus that service charge/ground rent - £75/mo - so that's £615/mo for the flat that your neighbour was paying £660/mo for.


    And in reality the RMove fantasy rental price is usually undercut by a lot when landlords attract long term tenants, even in London.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
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    edited 13 June 2017 at 9:40PM
    Red-Squirrel wrote: »
    You also seem to be comparing a purchaser in 2015 with a renter in 2010. ;)
    My bad. I somehow read £660 when you moved out in 2015, but advertised for £750 now...
    Red-Squirrel wrote: »
    Personally I think all rented housing should be council or HA owned
    ALL...?
    Even the high-end/corporate rental market?
    Somewhere like http://www.rightmove.co.uk/property-to-rent/property-65241611.html ?

    Even those who can afford to pay more for a better property, but don't want to own for whatever reason?
    Somewhere like http://www.rightmove.co.uk/property-to-rent/property-47209620.html ?

    Where do you draw the line between holiday rentals? I rented what's normally a holiday cottage for four months over winter a few years back.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    AdrianC wrote: »
    You'll have to excuse Crashy. He's not terribly bright.


    I`m bright enough never to have paid 750 p.m for a 60k flat ;) and bright enough not to believe what people who fear a price correction make up about rents :cool:



    :rotfl:
  • Red-Squirrel_2
    Red-Squirrel_2 Posts: 4,341 Forumite
    AdrianC wrote: »
    My bad. I somehow read £660 when you moved out in 2015, but advertised for £750 now...

    I'll let you off. I have no idea what the various inbetween stages were! Just wanted to point out that even with maintenance etc. its possible for buying to be cheaper than renting. Its certainly worked out much better for me than renting would have, and I hate to think of others not able to have the choice because they didn't have my sheer good luck (and good judgement in picking sensible properties perhaps, but won't blow my own trumpet too much on that one. ;))
  • Red-Squirrel_2
    Red-Squirrel_2 Posts: 4,341 Forumite
    Crashy_Time wrote: »
    I`m bright enough never to have paid 750 p.m for a 60k flat ;) and bright enough not to believe what people who fear a price correction make up about rents :cool:



    :rotfl:

    I sense I may be wasting my time, but maybe read it again because you've got all the numbers completely wrong. Did you just glance at the post and put them in whatever order that you fancied?
  • AdrianC
    AdrianC Posts: 42,189 Forumite
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    Red-Squirrel wrote: »
    Just wanted to point out that even with maintenance etc. its possible for buying to be cheaper than renting.
    Oh, absolutely.

    But not half the price, as was claimed.

    And, even then, that ignores all the other costs a landlord incurs.
  • Red-Squirrel_2
    Red-Squirrel_2 Posts: 4,341 Forumite
    AdrianC wrote: »


    ALL...?
    Even the high-end/corporate rental market?
    Somewhere like http://www.rightmove.co.uk/property-to-rent/property-65241611.html ?

    Even those who can afford to pay more for a better property, but don't want to own for whatever reason?
    Somewhere like http://www.rightmove.co.uk/property-to-rent/property-47209620.html ?

    Where do you draw the line between holiday rentals? I rented what's normally a holiday cottage for four months over winter a few years back.

    I don't know, that's homework, I'll have to think about it!

    Certainly all housing that is intended to be permanent, full time residences though, yes.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    First Anniversary First Post Name Dropper
    Red-Squirrel wrote: »
    I sense I may be wasting my time, but maybe read it again because you've got all the numbers completely wrong. Did you just glance at the post and put them in whatever order that you fancied?


    Best solution is if you just post a link to the flats and let people have a look?
  • Red-Squirrel_2
    Red-Squirrel_2 Posts: 4,341 Forumite
    Crashy_Time wrote: »
    Best solution is if you just post a link to the flats and let people have a look?

    :rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    Red-Squirrel wrote: »
    In the building where I used to live, I paid less than £250 a month for a flat purchased for around £80,000. The year I moved in, the identical flat next door was rented out for £600pm. I've since moved out but I just checked on Rightmove and those flats are now going for £750pm. If I still lived there I'd have remortgaged and probably be paying even less than that £250, as well as having gained a lot of equity from the rise in value.

    Even when buying isn't instantly cheaper than renting, it usually is in the long term.


    Lots to think about.
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