Rental timewasters...... whats the point!

franklee

bikingbarney wrote: »

I explained to the potentail tenants that i am taking it off the market as soon as i can get tenants in and that it wont be going up for sale again for at least 7 or 8 years as i cant see the market improving that much before then !

Hows it going, I notice it's still for sale but no longer advertised for rent, do you have a tenant or buyer :j

Harley80

Maybe they hadn't realised how much the Estate Agents were going to ask for them upfront and having done the maths realised they couldn't afford it.

I had been looking for a one bedroom flat for a long time, and found one I liked the look of for £700 pcm. I rung the estate agents up and asked before I arranged a viewing what would be needed in terms of fees etc. The response was a month and a half deposit £1050, a months rent up front £700, admin fee £180, credit reference fee £200. A grand total of £2130 up front if I wanted it.

I know this isnt unusual and if you are going to rent should budget and allow for the money upfront. Sadly I couldnt afford it so continue house sharing for now, whilst saving for a deposit to purchase my own house.

dopester

franklee wrote: »

Hows it going, I notice it's still for sale but no longer advertised for rent, do you have a tenant or buyer :j

For all his long-term renting it out, stay on property ladder, hoping prices will rise, expecting few problems with voids or problem tenants in the plan to get rent to put more equity into the house... I wonder why the wife originally wanted to cut all ties with the house?

Let's hope any rental plan doesn't see her feel even more hostile to them having kept ownership.

bikingbarney wrote: »

I have told the EA to let potential tenants know that if they take it up to rent then it will come straight off the market as i wouldn't want to mess people around.

finally i have also said that i will be letting it for a long time too.

The idea is to rent it out whilst im living in military married quarters for the next 8 or 9 years which gives me the chance to .

a, save some cash so ive got a nice lump sum when im looking to buy next

b, stay on the property ladder and continue to chip away at my mortgage in the hope that prices will rise over the next 8 or 9 years and i will have more equity in the property.

bikingbarney wrote: »

its been on the market for over a month now with only one viewing (for sale that is) and no offers.

It was my wife's idea to put it on the market for sale in the first place as she wanted to cut all ties with the house, but as she has seen the sale market is very slow so she has just about come round to the idea of renting it out whilst im still serving in the military (got another 9 years to do for my full 22year engagement).

I explained to the potentail tenants that i am taking it off the market as soon as i can get tenants in and that it wont be going up for sale again for at least 7 or 8 years as i cant see the market improving that much before then !

poppy10_2

dopester wrote: »

For all his long-term renting it out, stay on property ladder, hoping prices will rise, expecting few problems with voids or problem tenants in the plan to get rent to put more equity into the house... I wonder why the wife originally wanted to cut all ties with the house?

Let's hope any rental plan doesn't see her feel even more hostile to them having kept ownership.

Oops:

Problem tenants not paying rent !!!!