Guardian: Tenants sitting pretty as rents fall.

Gorgeous_George

You could try TS11, TS12 & TS13 for example. I don't know if these areas are rising, falling or staying the same but houses are relatively cheap and I suspect prices are stackupable.



GG

Microstar_2

I own properties in LE10, LE9, LE3 and LE1 postcodes. Rental prices appear to be fairly soft at the moment.

mewbie_2

Gorgeous_George wrote: »

You could try TS11, TS12 & TS13 for example. I don't know if these areas are rising, falling or staying the same but houses are relatively cheap and I suspect prices are stackupable.



GG

Thanks GG. To anyone else quoting postcodes, I am not going to spend all effing evening checking out your area on propertyBee! Wish I hadn't asked!

Anyway. TS11 - couple of pages - no drops. TS12 - compared to other areas I have checked not many drops at all. Maybe 2or 3 over half a dozen pages, and including one rise!

So it doesn't prove my point, more likely it proves yours - but this is the sort of information that backs up anecdotals - rather than being a "he said, she said" argument.

Thanks.

TJ27

I don't keep a particularly close eye on rents but from what I can tell they seem to be staying roughly the same around here. Possibly up a little bit.

However, what I have noticed is the number of voids in recent months. I seem to get a lot of calls from landlords these days who have simply not been able to get tenants at all. There are two new build houses not far from me which have been "to let or for sale" for about six months. I don't think they're getting any interest whatsoever.

edit: I live in a city where 10% of the population are students. So some of the student LLs are having a tough time I think.

So if rent levels are stable, or on the up, but voids are on the inrease too, I guess average rents are down?? Or is that an incorrect way of doing the maths?

edit again: Actually I do know somebody who negotiated a large reduction in rent recently. But that was in a block of flats where most of them were empty and the LL was clearly desparate to get ANY sort of rent.

Gorgeous_George

mewbie wrote: »

Thanks GG. To anyone else quoting postcodes, I am not going to spend all effing evening checking out your area on propertyBee! Wish I hadn't asked!

Anyway. TS11 - couple of pages - no drops. TS12 - compared to other areas I have checked not many drops at all. Maybe 2or 3 over half a dozen pages, and including one rise!

So it doesn't prove my point, more likely it proves yours - but this is the sort of information that backs up anecdotals - rather than being a "he said, she said" argument.

Thanks.

But if they had shown rent falls?

GG

tomstickland

I was reading threads on Landlordzone the other night and a few landlords agreed that they'd seen pressure on rental levels due to large supply.

mewbie_2

Gorgeous_George wrote: »

But if they had shown rent falls?

GG

Then I would have been gloating big time, and saying LOSER coupled with a load of irritating rotfl's.

Not really. Honest.

Gorgeous_George

The biggest 'threat' to rental levels is inflation and the recession. When people can afford less, they want to pay less whereever possible.

On the one hand, petrol, mortgages, food and most bills are pretty much non-negotiable.

Rent can be competed.

But LLs have needs too. The higher standards demanded by tenants have to be funded. I charge rent based on many factors including:

punctuality of payment
repairs required
improvements desired and provided
market conditions

In the end, I would like to make a small profit. If I make a loss, I'll sell up.

GG