If house prices fall rents will rise. Why don't crashtrolls get this?

danothy

Crashy_Time wrote: »

I said that I felt I was overpaying, and took steps to start underpaying. What was your point again?

That you said your rent hasn't changed in 15 years.

wotsthat

Crashy_Time wrote: »

Yes, maybe, don`t know and don`t really care (although he was a good honest landlord) but he probably didn`t think then that the rent wouldn`t be rising in 15 plus years though.

More likely he couldn't believe he'd found a tenant willing to give him a c12% rental yield in 1998. The cheapest available 1 bed flat is now for sale around £60k so still a yield of 8%. I doubt landlords present or past are complaining to be honest.

Do you have any examples of flats currently available for £400 month? I don't doubt that's what you're paying but I'd suggest it's unusual and there's very little choice.

I've been looking at renting in a town cheaper than Edinburgh and commuting home as part of a 3 - 5 year (very) early retirement plan. The best I can do is £360 for a room in a 5 people house share. For a flat I've found a 1 bed above a bookies with no parking for £450. One of those is an 'off grid' mates rate.

Crashy_Time

danothy wrote: »

That you said your rent hasn't changed in 15 years.

It has gone up 50 p.m for a similar sized flat in 15 years.

Crashy_Time

wotsthat wrote: »

More likely he couldn't believe he'd found a tenant willing to give him a c12% rental yield in 1998. The cheapest available 1 bed flat is now for sale around £60k so still a yield of 8%. I doubt landlords present or past are complaining to be honest.

Do you have any examples of flats currently available for £400 month? I don't doubt that's what you're paying but I'd suggest it's unusual and there's very little choice.

I've been looking at renting in a town cheaper than Edinburgh and commuting home as part of a 3 - 5 year (very) early retirement plan. The best I can do is £360 for a room in a 5 people house share. For a flat I've found a 1 bed above a bookies with no parking for £450. One of those is an 'off grid' mates rate.

The only example I have is the one I am sitting in, that is the only example I care about. The last flat was through someone at work, and started at 400 p.m, going up to 450 p.m towards the end of my time there. Maybe I am just lucky, but I think Edinburgh landlords who try to get say 600 p.m for basic flats have lots of voids, smart landlords know that 400 - 450 p.m may net them someone who stays for five years.

wotsthat

Crashy_Time wrote: »

The only example I have is the one I am sitting in, that is the only example I care about. The last flat was through someone at work, and started at 400 p.m, going up to 450 p.m towards the end of my time there. Maybe I am just lucky, but I think Edinburgh landlords who try to get say 600 p.m for basic flats have lots of voids, smart landlords know that 400 - 450 p.m may net them someone who stays for five years.

If all the £400 - £450 flats are occupied by people who stay for the long term (because that's cheaper than the market rent by some way) it stands to reason the only flats routinely available will cost more. These cheap flats either don't exist or don't come to market which explains why I can't find one and you suddenly only care about the one you're in.

If you were paying the same (ish) rent for the same (ish) flat in 1998 you were overpaying then or haven't remembered correctly. Are you sure you haven't been downgrading or drifting out of town?

mayonnaise

Crashy_Time wrote: »

Maybe I am just lucky

Maybe you are.
Sitting in a 1-bed rental in your late forties. Such luck.

danothy

Crashy_Time wrote: »

It has gone up 50 p.m for a similar sized flat in 15 years.

Indeed.

Crashy_Time wrote: »

the rent wouldn`t be rising in 15 plus years though.

Crashy_Time wrote: »

My rent is the same as it was 15 years ago

Crashy_Time wrote: »

It hasn`t in over 15 years

But fundamentally it's not your minor retconning that I take issue with. It's the fact that you judge and evangelise about how people should house themselves based on your experiences of either being a mug and having an extortionate rent 15 years ago or having an unrealistically low rent now that isn't achievable for others and (despite your belief that it won't) is probably fairly likely to rise.

Jack_Johnson_the_acorn

danothy wrote: »

Indeed.







But fundamentally it's not your minor retconning that I take issue with. It's the fact that you judge and evangelise about how people should house themselves based on your experiences of either being a mug and having an extortionate rent 15 years ago or having an unrealistically low rent now that isn't achievable for others and (despite your belief that it won't) is probably fairly likely to rise.

She previously posted months ago, that to avoid paying 450pcm she moved further away from the centre, therefore to a less desirable flat. She's deluded as she's not even comparing like for like.... plus £450 15yrs ago was a considerable amount, our muggins still can't grasp that.... You'll rile her if you keep questioning her anecdotal evidence, you're likely to be met with a flurry of posts including "tulips, debt junkies, hpi addicts, debt slaves" etc.

Jack_Johnson_the_acorn

Crashy_Time wrote: »

It has gone up 50 p.m for a similar sized flat in 15 years.

Crashy_Time wrote: »

I have shelled out about 81,600 in rent over the period. You might have bought a flat for cash at that amount 17 years ago, but if you factor in repairs and insurance plus bankers interest if you took out a mortgage it is a no brainer I`m afraid. Renting in my case has so far been the best choice.

Ouch that must really sting, you can add another yrs rent on top of that figure now!!!

No wonder you post with such animosity, must be incredibly frustrated...

wotsthat

Jack_Johnson_the_acorn wrote: »

Ouch that must really sting, you can add another yrs rent on top of that figure now!!!

No wonder you post with such animosity, must be incredibly frustrated...

Bit of a newsflash in there - £81,600 might just have been enough to buy a 1 bed flat in Edinburgh in 1998.

He could've bought 2 for that. At least he hasn't had to pay 'bankers interest'.