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can you increase rent if interest rates go up?
Comments
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clutton wrote:""Oh, and his rent hasn't increased in the three years ""
Is there anyone reading this site who would not expect a Salary increase every year ?
Why should landlords be any different - this is our business, our job, our income.
I don't know about you, but my raise is contingent upon my performance. If I can demonstrate I've met targets and exceeded expectations, I'll get a raise. If I haven't, I won't - it's not automatically assumed I'll make more money year on year. So if the OP can demonstrate that substantial improvements have been made to the property, and the raise is still in line with market prices, then go for it. If it's just to protect his profit margin, he may find himself tenantless...2015 comp wins - £370.25
Recent wins: gym class, baby stuff
Thanks to everyone who posts freebies and comps! :j0 -
[Quote: Originally Posted by Iso] ....Bob, you seem to have forgotten the first part of the question (above). An HP company would have to take someone to court to regain possession of the car if that person defaulted on the payments - in the same way as a landlord has to - ie [they] "can't re-gain possession of it without a court order".[/QUOTE]BobProperty wrote:No they wouldn't, you are wrong. It's as simple as that, I know of it happening. And if you want to say that the leasing company's action were "iffy" then OK, but unlike a landlord they aren't going to end up in court facing criminal charges.
Bob, in England and Wales if someone has paid more than 40% of the HP contract the leasing company has to go to court to regain possession in the event of a default.ISO0 -
Oh so now we get the details. No waiting a minimum of 6 months like a landlord, no criminal charges if you get it wrong, and you can just send round someone to "jack" the car back if they haven't paid 40% of the HP. Not quite like being a landlord is it? which was the point I was making.Iso wrote:Bob, in England and Wales if someone has paid more than 40% of the HP contract the leasing company has to go to court to regain possession in the event of a default.A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
I think you will find BTL gets penalised in the next budget. GB needs money and where can he get that money from where everyone bar the landlords will cheer. Thats right BTL.0
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What about all the BTL landlords with the smug gene who have fixed rate mortgages? Or who own their BTL properties outright? Somehow I don't think they'll be too worried about all these interest rate rises.
I don't have a beef with the professional landlords. These people have been in existance since time began and they fulfil a much needed job.
I have a beef with all these new landlords. The BTL brigade.
These people have no entrepenerial skills, have benefited from the biggest bubble in history, most have crap factory jobs or even work in Tescos. These people have ruined the dreams of their own kind. Five or six years later on the ladder these people would be in this group.
But these people think they have worked hard all their lives and have built up this priverlege. Time gave them this priverlege. If it wasn't for father time they would have nothing.
There are no entrepenerial skills needed for being in the right place at the right time.0 -
realwildone wrote:I don't have a beef with the professional landlords. These people have been in existance since time began and they fulfil a much needed job.
I have a beef with all these new landlords. The BTL brigade.
These people have no entrepenerial skills, have benefited from the biggest bubble in history, most have crap factory jobs or even work in Tescos. These people have ruined the dreams of their own kind. Five or six years later on the ladder these people would be in this group.
But these people think they have worked hard all their lives and have built up this priverlege. Time gave them this priverlege. If it wasn't for father time they would have nothing.
There are no entrepenerial skills needed for being in the right place at the right time.
I think the part about what jobs "most" BTL LL's have is utter nonsense!Admittedly a lot of the BTL LL's i know are not of the upper class type you would expect years ago if you talked about someone owning a "property portfolio", but to say most work in factories or tesco's is ignorant at best.
How do you distinguish a professional LL from a BTL one? Full time LL, not working?
Nobody said life was a game of pure skill, did they? Or was that on the list of "rules" only you were given at birth? Luck and chance play a large part in life - learn to live with it.Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery0 -
Wasn't it Sam Goldwyn who said "The harder I work the luckier I get".A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
Nobody said life was a game of pure skill, did they? Or was that on the list of "rules" only you were given at birth? Luck and chance play a large part in life - learn to live with it.
I do live with it. I just don't agree with it. I know 2 people in debt working at tescos with BTL's.
The funny thing is when IR go up, house prices go down. These people will get stung TWICE and they cannot afford to get stung once.0
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