Rent arrears up again....

macaque_2

Here we are in the middle of rising unemployment, falling incomes and record levels of debt. What do the BTL brigade do? Put up rents. Is that short sighted or what? I sometimes wonder if the BTL's have a ground zero strategy for the finances of people under 35. If that's the case however, I think the power companies have just gone and shot your fox with a 20% energy hike.

According to new research by Templeton LPA, the number of tenants that fell into arrears by at least two months increased by 13 per cent in the second quarter of 2011 when compared to the same period of the year before.

http://www.totallandlordinsurance.co.uk/landlord-insurance-news/landlord-buildings-insurance/rising-rents-see-increase-in-rent-arrears/800603338

jimjames

Or its a question of supply & demand. Agents locally cannot get enough good quality properties and those they do get go to first viewer.

macaque_2

jimjames wrote: »

Or its a question of supply & demand. Agents locally cannot get enough good quality properties and those they do get go to first viewer.

It is a question of supply and demand and it is hurting everyone. Tennants cannot find enough houses to rent* and landlords cannot find enough reliable tennants with safe jobs and £50k incomes. The result is growing levels of squalor, over crowding and rocketing rent arrears.

*I did not agree with Hamish on this two years ago but; following a sustained go slow by house builders combined with another influx of 1/2m+ low paid immigrants over the past year or so, there is clearly a growing property crisis. This is the product of uncivilised and irresponsible policies to buy time for dangerously exposed banks. I think everyone should be concerned about where this is taking us.

Turnbull2000

macaque wrote: »

It is a question of supply and demand and it is hurting everyone. Tennants cannot find enough houses to rent* and landlords cannot find enough reliable tennants with safe jobs and £50k incomes. The result is growing levels of squalor, over crowding and rocketing rent arrears.

*I did not agree with Hamish on this two years ago but; following a sustained go slow by house builders combined with another influx of 1/2m+ low paid immigrants over the past year or so, there is clearly a growing property crisis. This is the product of uncivilised and irresponsible policies to buy time for dangerously exposed banks. I think everyone should be concerned about where this is taking us.

Ultra low house building is here to stay for along while yet. And just to think, Romanian's and Bulgarian's will be free to arrive in their hundreds of thousands in 5 months. Although many are set to suffer, the fact is, many are also set to do exceptionally well with property and BTL over the coming years and a government of whatever hue will be content for this to happen.

JonnyBravo

macaque wrote: »

I sometimes wonder if the BTL's have a ground zero strategy for the finances of people under 35.

I'm meant to have strategy for the finances of people under 35?
Oh dear. I've completely forgotten about it.
Sorry, that's a bit of an oversight on my part.

Can I have yours mr monkey? Or is it as mad as the rest of the stuff you talk about?

HAMISH_MCTAVISH

macaque wrote: »

It is a question of supply and demand and it is hurting everyone. Tennants cannot find enough houses to rent* and landlords cannot find enough reliable tennants with safe jobs and £50k incomes. The result is growing levels of squalor, over crowding and rocketing rent arrears.

*I did not agree with Hamish on this two years ago but; following a sustained go slow by house builders combined with another influx of 1/2m+ low paid immigrants over the past year or so, there is clearly a growing property crisis. This is the product of uncivilised and irresponsible policies to buy time for dangerously exposed banks. I think everyone should be concerned about where this is taking us.

macaque, what did you expect would happen?

This is an absolutely inevitable result of the mortgage famine.

Builders will not build what they cannot sell.

We've been telling you this for years now, the crash is sowing the seeds of the next boom already. Population growing by half a million a year, and housebuilding at the lowest levels since 1924 last year, and down 41% since then.

There is only one direction the housing market is moving over the medium to long term, and it ain't down....

chucknorris

What are landlord's experiences with arrears on here? I have had one problem a few years ago but I got everything I was owed in the small claims court (plus 8% PA interest). Has anyone lost out?

geneer

HAMISH_MCTAVISH wrote: »

macaque, what did you expect would happen?

This is an absolutely inevitable result of the mortgage famine.

Builders will not build what they cannot sell.

We've been telling you this for years now, the crash is sowing the seeds of the next boom already. Population growing by half a million a year, and housebuilding at the lowest levels since 1924 last year, and down 41% since then.

There is only one direction the housing market is moving over the medium to long term, and it ain't down....

Who gives a !!!! about the medium to long term Hamish.
But you go on attempting to educate people with your passionate deeply held belief that there will one day be another bubble.
Yawn.

peakoil_2

geneer wrote: »

Who gives a !!!! about the medium to long term Hamish.
But you go on attempting to educate people with your passionate deeply held belief that there will one day be another bubble.
Yawn.

Got to agree with this because everyone on this board will be looking to buy or sell short term. It doesnt make sense for people to be on here if they are planning to buy or sell in the medium or long term, does it?

System

peakoil wrote: »

Got to agree with this because everyone on this board will be looking to buy or sell short term. It doesnt make sense for people to be on here if they are planning to buy or sell in the medium or long term, does it?

Some of the people on this board and others have been looking to buy for up to 10 years, I think that classes as medium term.

Cleaver

peakoil wrote: »

It doesnt make sense for people to be on here if they are planning to buy or sell in the medium or long term, does it?

What an odd comment to make. Why would the fact that you're planning to live somewhere long-term mean that you somehow wouldn't be interesting in debating the economy with other people? When I say debating the economy I obviously mean arguing childishly about idiotic Daily Mail articles, but I'm sure you get the point I'm making.