Landlords need to be more realistic

IveSeenTheLight

silvercar wrote: »

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

I guess that would depend on what the local rentable market rate is

PasturesNew

silvercar wrote: »

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

They're not like that. But if they did I'd move out to a bigger/better place for that money.

The LHA buys you a 1-bed. I rent a studio. £100/month cheaper.

neverdespairgirl

lindsaym22 wrote: »

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

why? what's wrong with all tenants?

macaque_2

lindsaym22 wrote: »

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

Ow my gawd, we've gorn and gort a bally tennant dine stars. What ever you do darling don't touch any door knobs without your gloves.

lostinrates

I'd like to be a tenant.

I got deprssed looking for places with the critters though, and small equestrian units are HUGELY expensive to rent...that I found anyway. For a year we could make do with a biggish one bed..but would like to get the furniture out of storage, so would be better with more space. I'd also consider putting the dobbins back in livery, but then THATS a huge cost, so the rent for the house would have to be reasonable to justify that...as our current housing expenditure is so small. Saving money makes it hard to increase budgets again.

I wonder if ther is an incresing availablitly of housing for pet owners now things ar sticking on the markt. Have to say, I'd be less likely to want pet owners if I were planning to sell at th end of the AST.

macaque_2

IveSeenTheLight wrote: »

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

Not harsh at all. I am talking about chav landlords who failed to work out the numbers when they purchased and are now twisting the arms of tenants to sponsor their stupidity.

I doubt very much that you fall into this category.

Gorgeous_George

Great. The economy takes a turn for the worse and Landlords are expected to go bankrupt so that their tenants can afford the rent. How's that work then?

Maybe your company should reduce your wages so that they can sell their products more cheaply. That would help tenants to pay their rent.

As a LL, I am realistic. I set the rent based on many factors, mainly market rate, costs and risk. If the risk of tenants defaulting is increasing, guess what happens to the rent.

GG

IveSeenTheLight

macaque wrote: »

Not harsh at all. I am talking about chav landlords who failed to work out the numbers when they purchased and are now twisting the arms of tenants to sponsor their stupidity.

I doubt very much that you fall into this category.

I guess your title should have said "chav landlords need to be more realistic" then.

And I agree, I do not fall into this category.
An interesting scenario appeared to me in the last week.
An overseas tenant of mine in my 2 bed flat had to terminate the lease at extremely short notice due to his wifes illness and was returning to his home base.
His tenancy still had a few months to run.

I told him not to worry and we would sort everything out at this end with the flat and that he needed to concentrate on his family.
Fortunately he had a brother in the UK who helped to sort out his posessions from the flat.
I instructed the estate agent to re-advertise the flat only on Wednesday last week and I received a call today advising there had been 4 viewings with 2 offers for immediate entry.

The main point is that there still seems to be a strong rental demand and even in December, only three weeks before christmas, while I was preparing for a few weeks of unexpected void, the process is in place ensuring there is no void.

I am now going to have great pleasure in advising my previous tenant that I have not only returned the deposit to his bank account as promised, but that the rent he paid for December will also be returned

Certainly as a Landlord, I believe in treating my tenants as I would hope to be treated and in return I hope to have the properties well looked after. This is something I learned when I rented many years ago and so far (touch wood)has stood me in good stead.

Cleaver

lindsaym22 wrote: »

I´m not too keen on the idea of having tenants below me, but at least I upkeep the front of the property...

I love the idea that owners are perfect neighbours whereas renters are some form of anti-social scum!

I live in flats and know a load of my neighbours, at least enough to say hello to and have a chat with. I have no idea which are renters and which are owners.

P.S. I have completely paraphrased you in a totally unfair way there Lindsaym. Sorry about that!

Cleaver

macaque wrote: »

Not harsh at all. I am talking about chav landlords who failed to work out the numbers when they purchased and are now twisting the arms of tenants to sponsor their stupidity.

I doubt very much that you fall into this category.

Doesn't 'Chav Landlord' mean a landlord in a tracksuit tucked in to their socks, buying rizlas and the ten cheapest fags, owning a bazzed up Corsa who listens to Basshunter?

Do you mean a failed businessman who failed to produce a decent business plan?