Is the rental market ever likely to turn back in Ts favour?

LisaLou1982

I think until mortgages become more readily available, or people start thinking that owning a smaller house is more preferable to them than renting a bigger one, then rents will stay high

Its all swings and roundabouts really. Personally i dont thinking lending is that harsh at the moment - the problem people have is that they have loans/credit cards etc and therefore mortgages are harder for them to obtain.

Obviously its also location dependant too

Comstock

"Always happy to help with any questions or queries relating to Estate Agency in England and Wales"

Ok, can I try you with one?

As someone who fully intends to be a life long renter, is it possible to get reductions in rent if one signs up for a long term tennancy eg a couple or three years?

Brallaqueen

Comstock wrote: »

As someone who fully intends to be a life long renter, is it possible to get reductions in rent if one signs up for a long term tennancy eg a couple or three years?

It would be a foolish landlord who tied themselves to such a long contract without having first established the tenant as a known quantity.

Not saying it would never happen but long term tenancies are normally only drawn up after a fixed term where the LL got a feel for you & the way you treat the house/responsibilities of the tenancy.

Even then, it can go wrong so easily in this climate (relationship breakdown, redundancy, illness) that cutting off the option of a section 21 is a huge step.

barnaby-bear

Comstock wrote: »

"
As someone who fully intends to be a life long renter, is it possible to get reductions in rent if one signs up for a long term tennancy eg a couple or three years?

If I was a landlord I'd want a tenant to pay more for a long term let, security of tenure is a rare commodity. I can't see why any landlord would offer to tie up their asset for so long with the reduced flexibility while the demand for rental is so high and the risk of voids low. A lot of landlords won't have the freedom to do this as their mortgage companies want the asset solvent too and will not agree to fixed terms longer than 12 months, often only the intial 6 and then periodic (i.e. a couple of months notice) as mortgage companies with permission to let take on the liability if the landlord defaults. However in Germany you'd have a better shot... near impossible to rent for less than a couple of years, several thousand of setup and kitchen buying fees (flats usually don't come with a kitchen you put one in or buy it off the last tenant) but security of tenure is then pretty good.....

dimbo61

If you want a long term let then you need to look at LHA or HA properties.
There are so many rules and regs going back hundreds or years I kid you not that relate to property and renting.
The current AST does not give security to people who want to rent and high turn over means LL,s can increase rents as and when.
Its a business at the end of the day Supply and demand.
Write to your MP and ask for more affordable housing to be built and this will help the construction industry ( my son needs a job )

ruggedtoast

I dont think there is any political will yet to redress the imbalance in renting towards tenants.

Currently our private rental market is not fit for purpose as it can't house people affordably with any sense of long term stability.

However the percentage of renters in the population is only going to grow so it will happen eventually. Cheating letting agents need to be reined in for a start, and it needs to be much harder for landlords to evict without expecting tenants to sign up to unbreakable contracts for years themselves.

ASTs at the moment are treated like mobile phone contracts, which they shouldn't be.

FATBALLZ

theartfullodger wrote: »

Only under a Labour government.

Conservatives are on landlords side.

Your choice in future elections

Labour were aware of the housing market becoming swamped by BTL landlords instead of FTBs in the early 2000s. What did they do about it? Nothing.

All governments are on the landlords side because tenants are generally in the 18-34 demographic, ie not enough votes to bother chasing.

FATBALLZ

ruggedtoast wrote: »

ASTs at the moment are treated like mobile phone contracts, which they shouldn't be.

On the contrary, mobile phone contracts are generally more secure than ASTs, you get 12-24 months as standard, rather than 6.

Comstock

dimbo61 wrote: »

If you want a long term let then you need to look at LHA or HA properties.

Of course its so easy for a single person with no special circumstances to get one of those, isn't it


Seriously, I'm not expecting to get a council flat. I just want to pay a fair rent for a long-ish term tenancy.