Rent falls in real terms!

dopester

JonnyBravo wrote: »

A good landlord.... like plenty of others.
My tenant has had decreasing rents in real terms (ie same price) for the last 3 years. Good tenants deserve good rents. I'm more than prepared to take the cut in real terms in return for a good tenant.

:beer:

If I were thinking like a landlord, I'd say there is a lot of sense in that approach, towards a good long term tenant.

I also like this guy's way of thinking on the subject:

So, if you push up the rent by £25 and the tenant moves out it will take years to recover your losses.

In some ways you want to reward the tenant the longer they stay. You might want to offer a gift to show that you value the tenant's length of stay (like an airline frequent flyer reward).

http://propertytribes.ning.com/forum/topics/rent-increase?commentId=2886658%3AComment%3A90790&xg_source=activity

chucky

dopester wrote: »

If I were thinking like a landlord, I'd say there is a lot of sense in that approach, towards a good long term tenant.

I also like this guy's way of thinking on the subject:



http://propertytribes.ning.com/forum/topics/rent-increase?commentId=2886658%3AComment%3A90790&xg_source=activity

it's a sensible approach. what's the point of getting a new tenant and risk void periods and have to put in work to get them in to the property.

Pimperne1

Yes it makes sense to keep good tenants (and the cost of finding a tenant will often wipe out any increase in rent obtained from the next tenant). He is probably just happy someone is paying his mortgage for him.

Batchy

Orpheo wrote: »

Just had a call from my landlord as my 12 month tenancy is coming to its end. He has agreed to my request for a rolling tenancy, as we are looking to purchase a house I don't want us to be tied down for another 6 or 12 months. On the subject of rent he said that he has no intention of raising it as we have been good tenants and he'd rather have the house occupied by good tenants than raise the price. I'm already paying £50 less than rents on similar properties. Following the missus' recent payrise and considering current inflation it seems that the landlord is taking a cut in real terms. I told him that I really appreciated it.

It seems that not all landlords are greedy chancers out to screw over their tenants.

Nice of him... passing on his savings to you!...

One in a million!... you lucky sod ;-)

Batchy

my rent stayed the same.

I think Ive had a mixed bag, ive had the one that only let me have it for 12 months...

and ive had the one that was willing to let me stay for a lifetime if necessary. They loved me... regular payments with no hassle really does make the world go round!

ctrlaltdelete

Orpheo wrote: »

Just had a call from my landlord as my 12 month tenancy is coming to its end. He has agreed to my request for a rolling tenancy, as we are looking to purchase a house I don't want us to be tied down for another 6 or 12 months. On the subject of rent he said that he has no intention of raising it as we have been good tenants and he'd rather have the house occupied by good tenants than raise the price. I'm already paying £50 less than rents on similar properties. Following the missus' recent payrise and considering current inflation it seems that the landlord is taking a cut in real terms. I told him that I really appreciated it.

It seems that not all landlords are greedy chancers out to screw over their tenants.

I had similar experience we mentioned to LL that we may move to a cheaper place because of the crisis and times getting harder.

He said would we consider staying if he lowered the rent. I asked how much and he said 100 quid a month less for the next 6 mnths.

My wife had already got it into her head to move so even though I wanted to stay we said sorry no can we give a months notice to move.

He then wrote a very nice letter making us an offer we could not refuse. We will be paying 150 quid a month less for the next 6 months.

We said yes please we will stay.

In 6 months we will see what the market will be like. I suspect rents and house prices will have fallen with all the painful cuts to housing benefit and all.

I hope he will knock another 100 quid off next May, if not I think other LLs will be getting desperate and offer very cheap rents just to get someone in there.

PasturesNew

When you're renting 3-bed houses, there's more choice/nicer places.

When you're looking at the "cheap seats", they're still out of reach and pretty dire.

Pimperne1

ctrlaltdelete wrote: »

I had similar experience we mentioned to LL that we may move to a cheaper place because of the crisis and times getting harder.

He said would we consider staying if he lowered the rent. I asked how much and he said 100 quid a month less for the next 6 mnths.

My wife had already got it into her head to move so even though I wanted to stay we said sorry no can we give a months notice to move.

He then wrote a very nice letter making us an offer we could not refuse. We will be paying 150 quid a month less for the next 6 months.

We said yes please we will stay.

In 6 months we will see what the market will be like. I suspect rents and house prices will have fallen with all the painful cuts to housing benefit and all.

I hope he will knock another 100 quid off next May, if not I think other LLs will be getting desperate and offer very cheap rents just to get someone in there.

To be honest, late December is not a good time for letting a property. Your landlord probably feels himself quite lucky to have kept you but, truth be told, if its a nice enough property I doubt he would have had much of a void - possibly he is a bit risk averse. In six months time he will find that there is big demand for rental property I am sure (always allowing that it is a nice property) so it might be time for an amicable parting of ways.

IveSeenTheLight

Orpheo wrote: »

Just had a call from my landlord as my 12 month tenancy is coming to its end. He has agreed to my request for a rolling tenancy, as we are looking to purchase a house I don't want us to be tied down for another 6 or 12 months. On the subject of rent he said that he has no intention of raising it as we have been good tenants and he'd rather have the house occupied by good tenants than raise the price. I'm already paying £50 less than rents on similar properties. Following the missus' recent payrise and considering current inflation it seems that the landlord is taking a cut in real terms. I told him that I really appreciated it.

It seems that not all landlords are greedy chancers out to screw over their tenants.

I apply the same principal.
I have a tenant of almost 4 years and have not increased their rents once in that time.
They are good tenants who now benefit from below market rents, whilst I as a landlord have good tenants.

doire wrote: »

Good for you. But i thought rents were soaring everywhere!!!!!

I have another property that gets a regular turnover of tenants i.e. students, professionals on secondment etc and I increase the rent in relation to the local market rent.

So it seems clear that landlords can at their discretion maintain rents for good tenants whilst increasing rents between tenancies.

IveSeenTheLight

JonnyBravo wrote: »

A good landlord.... like plenty of others.
My tenant has had decreasing rent in real terms (ie same price) for the last 3 years. Good tenants deserve good rents. I'm more than prepared to take the cut in real terms in return for a good tenant.

:beer:

Especially when you nominal debt is not increasing.
Add in many landlords are seeing increased margins due to better rates.
There's no need to be increasing rents to get a better return