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Debate House Prices
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Buy to let and the myth of rising rents
Comments
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JonnyBravo wrote: »Personally, as a landlord, I decide what rent my tenant will pay not them. .
It's not quite as simple as that, though, is it?
If you ask for too high a rent, your tenants leave and you can't get new ones....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
neverdespairgirl wrote: »It's not quite as simple as that, though, is it?
If you ask for too high a rent, your tenants leave and you can't get new ones.
Well yes. That is why I highlighted the point GG made about it being relative to where in the market place you are.
Strangely I'm not naive enough to believe I can charge whatever I wish and get a good tenant. Why would I be under market rent if I believed that? :rolleyes:0 -
JonnyBravo wrote: »Strangely I'm not naive enough to believe I can charge whatever I wish and get a good tenant. Why would I be under market rent if I believed that? :rolleyes:
It would certainly be impressively optimistic (-:...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
Gorgeous_George wrote: »I suppose it depends on how close to market value your rent is already and how good a tenant that you are.
I look at asking prices on Rightmove to assess the level to set my rent. A typical three bedroom property has risen from £325 to £475 since 2001. I currently charge £420 for a four bedroom property - well below market value. I intend to raise the rent to £460 next April (just under 10%) and I do not expect much argument from my tenant. Of course, if the market falls I will reconsider.
GG
At the moment. I think I'll be raising the rent by just £25 - to £445, maybe less. I think lower house prices and lower interrest rates equates to cheaper mortgages and cheaper rents.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0
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