MSE News: Cost of renting a home falls slightly 15 March 2013 at 12:03PM in House Buying, Renting & Selling 9 replies 1.9K views

Former_MSE_Helen

"Private rents in England and Wales fell for the fourth month in a row in February - but by just 0.1%..."

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Cost of renting a home falls slightly



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HAMISH_MCTAVISH

Rents dip in winter every year, and this index is not seasonally adjusted.

Rents are 3.3% higher than this time last year however, so rising in real terms as well as nominal terms, and at nearly twice the rate of wage inflation.

zerog

Yay, so let's all sell our houses and start renting!

My landlord isn't going to reduce my rent, and I'm not going to reduce the rent on the house I'm renting out.

marathonic

Rent controls should never happen. The government interferes with enough areas that should have remained controlled by the open market already.

Rents are only going to go one way too - through a combination of increase in population, inflation, inability of young to buy, etc.

This is the reason that, having bought my own house recently, I'm saving hard for a BTL. I'm making sacrifices now so that I can profit from those who decide to splurge on non-essential expenditure now and will have no choice but to rent in the future (and complain about my periodic rent increases )

thelem

meljm2 wrote: »

BTL spiculators are scum

Who would you rent from if there weren't buy to let speculators? The more landlords there are the smaller their profits will be, as they compete against each other for tenants.

You should really be complaining about successive governments, who haven't allowed enough properties to be built for the population which is why they are now so expensive.

brit1234

thelem wrote: »

Who would you rent from if there weren't buy to let speculators? The more landlords there are the smaller their profits will be, as they compete against each other for tenants.

Yes but there would be loads of starter homes and flats to buy so less rental demand.;)

thelem wrote: »

You should really be complaining about successive governments, who haven't allowed enough properties to be built for the population which is why they are now so expensive.

You missed the 3 biggest reasons why they are so expensive:

1. To low interest rates
2. Mass fraud
3. Irresponsible lending

:mad:

marathonic

meljm2 wrote: »

Corrected that 4 u

BTL spiculators are scum

Well, for the next few years, I'm going to work my *** off and save so that I can, one day, become scum!!!!

Meadows

MSE_Helen wrote: »

"Private rents in England and Wales fell for the fourth month in a row in February - but by just 0.1%..."

Really? well not in this area!

RupertTheCat

One of my tenants just renewed his lease for a year and asked for a 5% rent decrease which I happily gave him. That's the 2nd tenant I've done that for - I'd rather they stayed and paid less than go through the hassle of looking for a new tenant!

marathonic

RupertTheCat wrote: »

One of my tenants just renewed his lease for a year and asked for a 5% rent decrease which I happily gave him. That's the 2nd tenant I've done that for - I'd rather they stayed and paid less than go through the hassle of looking for a new tenant!

Yeah, it makes sense to accept anything up to 10% below market rates for a good tenant. The other option is to put the place up for rent which would result in the likelihood of re-decoration costs and about 1 month passing with an empty property - resulting in 8.3% loss in annual rent.

If a good tenant tries to get anything more than a 10% discount on market rent, that's when the eviction notices should come out...