Increasing the rent - tenants angry.

Conrad

Thrugelmir wrote: »

Long term is over 10 years.

As for highly leveraged businesess. Seen it over and over again.

Knock out one prop and the whole house of cards comes tumbling down.

Asset rich, cash poor.

The B2L lenders are more than happy to keep lending to these people and the arrears are lower than on thier residential books.

I simply do not recognise this picture you always paint. What evidence do you have?

saverbuyer

Rents have actually fallen in northern Ireland and prices are down 60% but no need to let facts get in the way.

adouglasmhor

chem1st wrote: »

Those two options aren't the only options. They are fast becoming the only options due to monopolisation and rent seeking.

People should be able to use idle land to build homes. With there being high demand for homes, housing would be built and prices would fall. This is what would happen in a capitalist country.

People should be allowed to pitch tents if they so wish.

Look at China, over there they build homes.

Wonderful example you give, China.

http://www.bbc.co.uk/news/magazine-19049254
http://www.dailymail.co.uk/news/article-2178107/Where-The-derelict-majesty-Chinese-ghost-town-built-house-million-30-000-residents.html
http://www.businessinsider.com/photos-of-kangbashi-a-ghost-city-in-china-2012-7?op=1



Do you see any signs of habitation there?

marathonic

saverbuyer wrote: »

Rents have actually fallen in northern Ireland and prices are down 60% but no need to let facts get in the way.

Not in my area.

The cost to rent a 3-bed semi-detached is greater than my mortgage, rates and estimated maintenance for a 4-bedroom detached house.

Thrugelmir

Conrad wrote: »

The B2L lenders are more than happy to keep lending to these people and the arrears are lower than on thier residential books.

Yesterdays CML report reported that BTL was higher.

Thrugelmir

Conrad wrote: »

Thing is I recall naysayers telling be in the mid nineties the time to have got into B2L was the 1980's.

There were only 30,000 "BTL" loans in 1998.

BTL was invented as a term by the Bradford and Bingley in 1998.

Seems as if age is playing tricks on your memory.

saverbuyer

marathonic wrote: »

Not in my area.

The cost to rent a 3-bed semi-detached is greater than my mortgage, rates and estimated maintenance for a 4-bedroom detached house.

Based on what figures? With historically low interest rates and a large deposit no doubt. Maybe its because housing benefit has pushed up rents in derry because most of the population receive it. I certainly wouldn't be betting it would continue to do so.

Without figures its meaningless.

saverbuyer

marathonic wrote: »

Prices have halved in Northern Ireland yet rents are still on the increase and people still cannot afford to buy due to leaving it too late to save the deposit and other changes in circumstances rendering them unable to do so.

As I've said before, the solution to the problem isn't government changes to legislation, it's financial education for the youth.

If someone knows the requirements for a deposit for a house before they get their first job and puts a plan in place to achieve that, their financial responsibility will prove to the banks that they are capable of managing a mortgage.

There are daily threads on the boards about gifted deposits and excessive debt. Any bank that lends money to people in these categories is asking for bother.

The reason people in northern Ireland still can't buy is because prices are still too high even after 60% drops. Average salary here is 18k. Until prices reflect average salary they still won't buy.

The good news is that the drops show no sign of stopping.

mystic_trev

Thrugelmir wrote: »

There were only 30,000 "BTL" loans in 1998.

BTL was invented as a term by the Bradford and Bingley in 1998.

Seems as if age is playing tricks on your memory.

You're correct. I bought most of my Portfolio during the 90's and the term was unheard of. I've always referred to them as Investment properties. I think Conrad is just using the BTL term as that's what everybody calls it now.

Roundabouts

nollag2006 wrote: »

I've been putting my rents up 5-10% per annum over each of the past three years

Only tenant that got irate was a STR fool. He moved out shortly afterwards. Ho! Ho!

!!!!!!. This is an outrage, you shouldn't get banned just because you up the peasants' rent!