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MSE News: Landlords planning rent freezes in 2013

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MSE News: Landlords planning rent freezes in 2013

edited 30 November -1 at 1:00AM in House Buying, Renting & Selling
7 replies 2.2K views
Former_MSE_HelenFormer_MSE_Helen
2.4K posts
edited 30 November -1 at 1:00AM in House Buying, Renting & Selling
"Nearly two-thirds of landlords are planning a rent freeze in 2013, a survey shows..."

Replies

  • Percy1983Percy1983 Forumite
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    Of course landlords costs are increasing with these low interest rates and everything... oh wait...

    Nevermind, I suppose you can't stop greed.
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  • YoungBusinessmanYoungBusinessman Forumite
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    As above, its due to cheap mortgages, that two thirds most likely raised them this year and will in 2014.
    :eek:Living frugally at 24 :beer:
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  • edited 3 December 2012 at 7:45PM
    sableladysablelady Forumite
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    edited 3 December 2012 at 7:45PM
    I think this has more to do with HB cuts now that payment for rent increases can no longer be guaranteed by the taxpayer. Great news!
  • My sister works in the benefits office, and she has said that the amount of people that are going to be homeless due to the new housing rule, is going to affect a lot of these landlords, because they just won't be able to let. It will be only people that are working, or if there rent is at the value of the LHA.

    When people are on the benefits if they have to make up the rent themselves, they just can not do it. If they have a spare bedroom or a dining room that can be turned into a bedroom that is even more they have to pay. And there are not many with a couple of thousand pounds which is almost as much as it costs to move, IE agency fees, deposit, advance rent. There are thousands of people in the South Wales area, that are facing eviction from private lettings, because they can not pay the rent. Then when they go to the council, the council will not help, because they have intentionally made themselves homeless because they have rental arrears. There are thousands of council house tenants also being evicted due to rent arrears, but the stupid thing is, if they have children, they have to have somewhere to live, so they are being put up in places like travel lodge, miles from the areas they come from, and then the council have to provide a taxi every day to get there kids to schools, so instead of the government saving money they are having to spend out even more.
  • edited 4 December 2012 at 6:58PM
    johnbusbyjohnbusby Forumite
    181 posts
    edited 4 December 2012 at 6:58PM
    As above, its due to cheap mortgages, that two thirds most likely raised them this year and will in 2014.

    Only if the market will support it. There has to be a point where the market will not sustain any more rent increases, whether we are at that point as the minute is debatable but I find it hard to believe that we are not close.

    I do agree with other posters that the impending HB changes will reduce rents across the market (good thing in my view) :)
  • johnbusby wrote: »
    Only if the market will support it. There has to be a point where the market will not sustain any more rent increases, whether we are at that point as the minute is debatable but I find it hard to believe that we are not close.

    I do agree with other posters that the impending HB changes will reduce rents across the market (good thing in my view) :)

    We're probably approaching that level in London and some parts of the SE, but everywhere else, rents still scope for large rent hikes - say up to 50% of tenants earnings.
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  • Sharon87Sharon87 Forumite
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    I don't see how some rents can get any higher. Landlords may price themselves out of tenant's affordability, only then will they have to lower rents.

    Housing benefits aren't good in the short term for people who live off benefits especially. But it might help set lower rents in the near future. Although the rule about having a dining room to convert into a bedroom - therefore charging the tenant for an extra room seems to be ridiculous. Some houses can't even convert their dining rooms due to the layout of the house, without a lot of work at least.
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