Increasing the rent - tenants angry.

chucknorris

wouldbeqaulitymoneysaver wrote: »

Go on justify people paying YOUR mortgage and the excessively high prices which you justify by citing the Free market and the need for people to be able to pass from renting to home ownership.

Could you justify my tenants putting the rent up? I have a 3 bed flat which 3 professionals share, one of them is moving out soon. The other 2 want to stay and have found a new third flatmate but are putting the rent up for the (about to be) vacant room. They asked me if I had any objections, of course I don't, it is a free market, good luck to them.

marathonic

Carl31 wrote: »

You are quite right, but using your example

at 23, person a will probably have a much lower salary, and a more active social life, and a number of 'grown up' things ahead of them, having children etc... At 40, person b will have a much higher salary, and less active social life, more than likely had children and reduced number of outgoings, hence would be able to service a mortgage a lot easier

This is true... but is someone who spent a large proportion of their salary on 'an active social life' entitled to complain about how landlords are the reason that they are unable to afford a property?

At the moment, I do feel sorry for those that have had an active social life and, as a result, cannot get onto the property ladder due to subsequent children, etc.

In their early twenties, they didn't know what lay ahead.

In the future, having gone through proper financial education in school, I'd have no sympathy because they knew the score and chose to ignore it.

Conrad

Out,_Vile_Jelly wrote: »

Shouldn't the tenants be informed of such changes in writing once their current contracts are due for renewal? Sounds like the usual unprofessional lettings agency approach.

My rent's gone up once (by £50 per month) in 4 years. Currently looking at areas in London where I could buy- not remotely tempting.

She of course puts it in writing, but feels morally obliged to make a call rather than hide behind a cold out of the blue written rental demand.

Conrad

Sampong wrote: »

Besides I find it quite interesting. If a Lithuanian has 10 rental properties, it demonstrates that there is opportunity for everybody in the UK.

Bingo. Here less than 15 years, amazing what can be achieved. He's retired back to Lithuania.

PS - I've changed his nationality to protect his identiy - you never know......

Jegersmart

Derivative wrote: »

Some would say most tenants don't understand what a money making business is.

If they did, would they be tenants?

Do you know what a bank is?

Lol, just lol.

J

adouglasmhor

My girlfriend's brother is an English born Irishman who grew up in Wales and has Lithuanian tennants in one of his English properties. He's not putting the rent up this year though.

Conrad

wouldbeqaulitymoneysaver wrote: »

http://www.guardian.co.uk/money/2011/jun/17/rents-hit-record-high
As the story above states PEOPLE NOT ABLE TO SAVE UP FOR OWN PROPERTIES BECAUSE EXCESSIVE RENTAL COSTS EAT UP THE POUNDS.

Are you suggesting landlords have a duty to deliver societal outcomes?

The point of this thread was to tease out why it is the tenants in this case were saying things like the landlord is taking the pee, when in fact the LL was just adjusting the rents to the local market rate.

His whole reason for holding property is to ensure it delivers the highest possible income. He has no other interest.

Conrad

wouldbeqaulitymoneysaver wrote: »

Sounds like @conrad wants to teach us an economics lesson without of course factoring in social justice needs as one would hope he would.

Social justice seems to be a pick n mix affair.

For example the relishing of ones latest bargain buy that relies on super cheap sweat shop labour in Indonesia.

'Social justice':beer: for all as long as it doesn't impinge on a tenants right to buy cheapo goods:o.

Conrad

chewmylegoff wrote: »

So, all 10 of the properties have tenancies running which happen to be at a point where it is actually possible for the LL to increase the rent? By some coinicidence none of them are in a fixed term period? I guess that means that either this is just made up or all the fixed periods have ended and the tenancies have reverted to statutory rolling tenancies in which case the LL hasn't put up the rent on any of them for a while.

Since most tenants would be at work at 2pm on a weekday and wouldn't be answering their phones and no letting agent I have ever dealt with has attempted to increase the rent by telephone, I'm leaning towards the "the OP is bullish!t" explanation.

If I was going to make up a thread it would be a lot juicer than this !!!!!!!

Did I say she got hold of all 10 tenants there and then?
Do tenants not have mobile phones, some of who'm will answer or call back after listening to a message?

As to why all 10 at once, I'm not sure, I'll ask her later why / how this is.

Conrad

Thrugelmir wrote: »

Sounds more like someone who is desperately squeezing as much money out of their business and transferring it abroad. Before defaulting on their debts.

Most successful businesses have contented customers. Those that don't, one day most likely will fail.

So to summarise, any on the ball long term well established landlord who happens to now reside in Monaco, Lithuania or elsewhere, with low gearing making high profits putting hiser rents up is about to go ttiits up?

Thanks for the tip, we'll make sure anyone with this profile is removed from our books.