The rental market

sjaypink

IveSeenTheLight wrote: »

Graham, please do not make general assumptions which on reflection generally fall flat on their face.

I bought a BTL in 2007, so presumably would fall into your category, however the property I have rented out has never been rented to anyone on benefits.

Indeed, my other rented property is similar.

I wonder if there is a statsitc to show how many private rentals are rented to those on benefits.

Think there are about 7m rented homes? 4.75m are in receipt of HB.

Almost 70 per cent of Housing Benefit recipients were tenants of Social Sector landlords and just over 30 per cent were tenants of Private Sector landlords.

http://research.dwp.gov.uk/asd/index.php?page=hbctb

IveSeenTheLight

sjaypink wrote: »

Think there are about 7m rented homes? 4.75m are in receipt of HB.

http://research.dwp.gov.uk/asd/index.php?page=hbctb

Thanks, so 30% Housing Benefit recipients rent privately rented property.
Come to think of it, I do know some people who rent private properties and receive benefits.

The question now is, how many privately rented properties are there?
You believe there are about 7 million rented homes

The total number of people receiving Housing Benefit was 4.75 million

Almost 70 per cent of Housing Benefit recipients were tenants of Social Sector landlords and just over 30 per cent were tenants of Private Sector landlords.

30% of 4.75 million is 1.425 million
http://research.dwp.gov.uk/asd/asd1/stats_summary/stats_summary_aug2010.pdf?x=1

This is also a worthwhile read
http://www.parliament.uk/briefingpapers/commons/lib/research/briefings/snsp-05638.pdf

LydiaJ

Cleaver wrote: »

I don't think it's the sole thing. I think it's one indiactor along with proven skills, competency, strengths, experience etc. etc. <long post I'm not going to quote in full here>

OK you are making a lot more sense now. I think I only thought I disagreed with you because your post was brief and so your position wasn't clear.

In any case, your company's situation is rather outside my experience. One of my jobs is teaching secondary science, where a degree in the right subject (or a closely related one) is obviously essential to do the job competently. My other job is mainly pastoral with some admin, and I got it on the basis of having been doing it as a volunteer for a few years first, so my degrees are irrelevant and were never mentioned.

Anyway, the thread is supposed to be about rents. I've been renting this house for five years, during which time market rents have (according to this board) gone up and down a bit. My LL and LA haven't ever mentioned changing my rent, and I'm still paying the same amount I was paying in 2005. Is this unusual?

ETA I'd quite like to continue the discussion about age discrimination in recruitment, but it doesn't belong on this thread so I'll start a new one for it.

PasturesNew

Malcolm. wrote: »

Is used to be £40 all inclusive, now it's at least £60.

That's inflation for you.

I have absolutely no idea what this means.
Not a clue.

IveSeenTheLight

LydiaJ wrote: »

My LL and LA haven't ever mentioned changing my rent, and I'm still paying the same amount I was paying in 2005. Is this unusual?

Not for me.
I have never changed a tenants rent while living in the property.
I've only increased the rent between tenants.

If I have a good tenant, who pays on time and looks after the property, then I'm happy to leave the rental income the same.

Remember that the loan on the property is maintained and most BTL LL's have a fixed rate mortgage, meaning they know their outgoings.

Your rent will cover these and there is no need cause any uneccesary complications.

sjaypink

IveSeenTheLight wrote: »

Thanks, so 30% Housing Benefit recipients rent privately rented property.
Come to think of it, I do know some people who rent private properties and receive benefits.

The question now is, how many privately rented properties are there?
You believe there are about 7 million rented homes





30% of 4.75 million is 1.425 million
http://research.dwp.gov.uk/asd/asd1/stats_summary/stats_summary_aug2010.pdf?x=1

This is also a worthwhile read
http://www.parliament.uk/briefingpapers/commons/lib/research/briefings/snsp-05638.pdf

There are nearly twice as many social housing properties than private rentals- so (splitting the 7m) lets say 2.4 m private rents, 4.6 m social housing properties.

This is a (educated ) guess then, but I'd say that about 75% of social housing tenants recieve HB, with about 50% of private rental tenants claiming.

treliac

Dirk_Rambo wrote: »

no. phD in astralphysics i tihnk. it only cost 200 dollars and it realy impreses the chicks

That's a facecream then!

Shakethedisease

most BTL LL's have a fixed rate mortgage

Do they ? I was under the impression a fair few were on IO mortgages bought at peak times when hpi was a 'sure thing'. Happy to be corrected otherwise. But if you could back that statement up with some figures I'd be grateful..

Otherwise the rumours going round that interest only mortgages are going to be converted pretty sharpish onto repayment mortgages when the deal is up, might be another factor of concern when the lha reductions kick in.

IveSeenTheLight

Shakethedisease wrote: »

Do they ? I was under the impression a fair few were on IO mortgages bought at peak times when hpi was a 'sure thing'. Happy to be corrected otherwise. But if you could back that statement up with some figures I'd be grateful..

Otherwise the rumours going round that interest only mortgages are going to be converted pretty sharpish onto repayment mortgages when the deal is up, might be another factor of concern when the lha reductions kick in.

Having an I/O mortgage does not mean that the rates cannot be fixed.

IveSeenTheLight

sjaypink wrote: »

There are nearly twice as many social housing properties than private rentals- so (splitting the 7m) lets say 2.4 m private rents, 4.6 m social housing properties.

This is a (educated ) guess then, but I'd say that about 75% of social housing tenants recieve HB, with about 50% of private rental tenants claiming.

Was not convinced by the figures, so thought I'd do a bit of digging.
http://www.statistics.gov.uk/cci/nugget.asp?id=1105
Looks like in Q2 2009, there were: -
17.5 million owner occupiers
4.5 million social rented properties
3.8 million private rented properties



Interestingly

Private renters were more likely to be in employment than social renters (68 per cent compared with 33 per cent). Social renters were more likely than private renters to be economically inactive (59 per cent and 26 per cent respectively).