MSE News: Cost of renting a home falls slightly

"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_MCTAVISHHAMISH_MCTAVISH Forumite
    28.6K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    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.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”

    -- President John F. Kennedy”
  • zerogzerog Forumite
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    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.
  • marathonicmarathonic Forumite
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    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 :) )
  • thelemthelem Forumite
    774 Posts
    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.
    Note: Unless otherwise stated, my property related posts refer to England & Wales. Please make sure you state if you are discussing Scotland or elsewhere as laws differ.
  • brit1234brit1234 Forumite
    5.4K Posts
    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:
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • marathonicmarathonic Forumite
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    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!!!! :D
  • MeadowsMeadows Forumite
    4.5K Posts
    Mortgage-free Glee! Hung up my suit! Xmas Saver!
    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!
    Everything has its beauty but not everyone sees it.
  • 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!
  • marathonicmarathonic Forumite
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    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... :D
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