Landlords need to be more realistic

macaque_2

A small number of people who fail to pay their rent are dishonest and !!!!less. Most people fall behind on payments are in genuine financial difficulty.

With 71% of landlords expecting rent arrears, it is clear that rents are simply unsustainable in the new post bubble economy. If the landlords sort themselves out quickly the market will do it for them.

http://www.myfinances.co.uk/news/mortgages/buy-let-mortgages/landlords-predict-rapid-rise-in-rental-arrears-$1253312.htm

IveSeenTheLight

I think your temonology that we as LL's need to be more realistic is a bit harsh.

I understand your comment that the market would affect the rentable rate, however.....
If one tenants cannot afford the rent and others can, then maybe the tenants also needs to be realistic with regards what level of property they can afford to rent.

It works both ways

JonnyBravo

macaque wrote: »

A small number of people who fail to pay their rent are dishonest and !!!!less. Most people fall behind on payments are in genuine financial difficulty.

With 71% of landlords expecting rent arrears, it is clear that rents are simply unsustainable in the new post bubble economy. If the landlords sort themselves out quickly the market will do it for them.

http://www.myfinances.co.uk/news/mortgages/buy-let-mortgages/landlords-predict-rapid-rise-in-rental-arrears-$1253312.htm

Hmmmm.... how about it's just meaningless tosh?

Just as in the good times the majority of people when asked about their feelings would have been upbeat about rents etc so in the bad times the majority will be downbeat.

Do you really think over 70% of all tenants will fall behind in their rent???

I find it very hard to believe that figure will turn into reality.

neas

markets always correct themselves. My local rent market is experiencing a downturn in rental prices.... property next door has been vacant for 3-4 months now... as they had rent too high (575 for a small 1 bed flat)... which 1.5 month ago they reduced to 495.... which still isn't shifting.

Good news for me, good argument when they try and put my rent up..

"Next door is pretty much identical and has more furnishings... and has been vacant for 3 months... and you want to put my rent up? pull the other one heheh... your serious....muwhahaha..."

ianian99

ll's will probably welcome housing benefit / lha tenants in the future as their rent is guarunteed

pickles110564

I dont care who rents my properties as long as they pay on time every month.

LeLLe

I agree with IveSeenTheLight about tenants need to be more realistic about the amount they can pay each month.

Even if the tenant does pay the rent, dont think you safe. My rent is gaurenteed yet my property is being repossessed :rolleyes:

lindsaym22

The property below mine is for sale just now, but it´s not selling and I doubt it will any time soon! We got a note through the door the other day to tell us that he isn´t going to keep it on the market for much longer. He does, however want to rent it out. I´m not too keen on the idea of having tenants below me, but at least I upkeep the front of the property... this makes me feel a lot better because the upkeep is important. They have the back garden, but I´m going to speak to the owner and ask if he would mind if we keep the garden tidy if the tenants don´t. It´s up to him after all. He can put it in the contract or something! My friends try everything in their power to pay their rent no time, but they were stupid enough to rent really expensive flats and are now struggling...looks like we´ll all be having adventures in tents this time next year!!!!

PasturesNew

LHA here for a 1-bed flat is a full 28% more than I (who pays the rent) am prepared/able to pay per month. That's not right is it!

ianian99

lindsaym22 wrote: »

. I´m not too keen on the idea of having tenants below me

omg a snob that lives in a flat!:rotfl:

silvercar

PasturesNew wrote: »

LHA here for a 1-bed flat is a full 28% more than I (who pays the rent) am prepared/able to pay per month. That's not right is it!

I would be worried that at renewal time the landlord will decide to put the rent upto LHA levels.