Dreadful News For Renters!

Thermidor

Rents are rising at a rapid rate due to more people having to rent......

http://www.dailymail.co.uk/news/article-1362564/How-mortgage-crisis-allowing-landlords-push-rental-rates.html

Thoughts anyone?

Pobby

I guess the rental market will go up. If you are not earning a great deal. How is it possible to save a deposit?

I have younger friends that took the plunge with pretty hefty mortgages, now worrying about their jobs. I am told that the average mortgage is 15% of income. I don`t agree that is the case with some new comers into the market.

ManAtHome

Usual hypocrisy - "if interest rates go up the sky will fall on our heads", "if rents go up - that's just supply and demand innit".

Either way, things are looking increasingly stuffed - if interest rates don't getcha, inflation will...

Morglin

Well, I guess this will also push the benefit bill up, as more and more are becoming dependant on at least part-funding of their rent via LHA, even if working.

Lin

bdl1brick

Daily Mail though yuk

Gorgeous_George

bdl1brick wrote: »

Daily Mail though yuk

Here's a BBC link if it helps.

Rents have to be competitive but when supply is limited, some landlords can be greedy and take advantage.

My own strategy is to keep the rent reasonably low. If the tenant pays on time and looks after the property this is so much easier. When the tenant is a pain in the backside, the rent rises.

GG

Tupperware_Queen

my rent and service charge have gone up by £15 a week, I only moved in in October...hoping this is not a sign of things to come, as my wages will not be increasing any time soon!

breadlinebetty

I think this was a given, rents were bound to go up unfortunately.

paul1964_2

Thermidor wrote: »

Rents are rising at a rapid rate due to more people having to rent......

http://www.dailymail.co.uk/news/article-1362564/How-mortgage-crisis-allowing-landlords-push-rental-rates.html

.... but they have supposedly fallen during the previous couple of months.....

Dec: http://www.guardian.co.uk/money/2011/jan/21/uk-rents-fall-arrears-rise

Jan: http://www.bbc.co.uk/news/business-12492396

Thoughts anyone?

As with house prices, average rents go up a bit and down a bit.

As with house prices, the media gets all over-excited each time a report is issued.

evoke

Housing benefit is the root cause. If we stopped or limited housing benefit to a maximum of £50 per week then rents would come down. Greedy landlords are jumping on the great housing benefit scam and raking it in at the moment.