Rents Continue Rising

DervProf

Generali wrote: »

People regularly post on share bulletin boards about increased dividends which can be a result of higher prices, lower costs due to people losing their jobs and other not so great things.

Do they say things like "I`ve got shares in Acme Plc, the dividend this year is massive. I told so-and-so to buy some a few years ago, but he didn't. What an idiot" ?

That sort of thing does seem to go on around here quite a bit.

julieq

Go onto a day traders board Derv, and you'll see nothing but that.

IveSeenTheLight

chucknorris wrote: »

I had a quick look this morning Hamish and found in Battersea (my main investment area) I am about £100/month behind similar properties (asking price). So I'm thinking about putting all 4 flats up by around £40 a month this summer.

I like to stay very competitive so I get a good choice of tenant and either reward existing long standing tenants or encourage new ones to stay on a few years, so I don't tend to rent at the full market value.

Similar here.
One of my properties the tenants have provided notice about two weeks ago that they intend to leave in July.
They also advised they knew friends who loved the flat and wanted to take on a lease when the flat is available.

I was tempted to put up the rent £20 per month, but given I'm saving on advertising (finders fees) I'll probably leave it as it is.

It's pretty good when you have not had voids in 3 1/2 years and are getting a change of tenants at no advertising costs.

chucknorris

IveSeenTheLight wrote: »

Similar here.
One of my properties the tenants have provided notice about two weeks ago that they intend to leave in July.
They also advised they knew friends who loved the flat and wanted to take on a lease when the flat is available.

I was tempted to put up the rent £20 per month, but given I'm saving on advertising (finders fees) I'll probably leave it as it is.

It's pretty good when you have not had voids in 3 1/2 years and are getting a change of tenants at no advertising costs.

It's nice to avoid all that hassle and uncertainty (not so much about rent but who you end up with as a tenant)

HAMISH_MCTAVISH

DervProf wrote: »

Do they say things like "I`ve got shares in Acme Plc, the dividend this year is massive. I told so-and-so to buy some a few years ago, but he didn't. What an idiot" ?

Yes.

That sort of thing does seem to go on around here quite a bit.

Not half as much as the stick we got from housing bears when they thought we were going to get a stonking great crash.

DervProf

julieq wrote: »

Go onto a day traders board Derv, and you'll see nothing but that.

Thanks, but I quite like it here at the moment.

Sad, though, that people are like that. It isn't a nice trait to see in people.

chucknorris

HAMISH_MCTAVISH wrote: »

Not half as much as the stick we got from housing bears when they thought we were going to get a stonking great crash.

and also that very brief period of time a couple of years ago when rents dipped

geneer

HAMISH_MCTAVISH wrote: »

Now outstripping CPI as well.

Excellent.
Clearly demonstrates how potential buyers are abandoning property and that demand is falling.

As sensible FTBs like to call it "culling the competition".

Thanks for pointing this out Hamish.

System

ruggedtoast wrote: »

To be fair to McTavish, which isnt something I like to make a habit of, he didnt actually gloat in his post;just reported a news story.

It happens every time, it winds me up if I'm honest.

Normal person: "Oh look, rent has gone up again".

Utter smacktard: "OMG U LUV INFLATION WAAAHHHHHH WAHH"

Percy1983

I fail to see how demand pushes prices up.

Eg, if I owned a rental property, 1 person wants it can pays £400 a month (random number off top of head), demand goes up and now 5 people want to rent it... do I have to rise my price or just pick the best one and still charge £400...

Or would greed take hold and take advantage of the situation?