At least 10% Housing benefit cuts could be on the way

lisyloo

So buy the 90k flat in London or the 50k flat within 40 miles of London instead.

The 90k flat is for over 60's and the 2 1-bed flats have tenants in situ so are not available for occupiers, but you're right there are chepaer properties available that are much lower prices because they are undesireable.

Similarly there are much cheaper properties in zone 1 which are highly undesireable.
Those wanting to spend less can buy those too. I think we know that already.

Killerseven

missbiggles1 wrote: »

Many of those in this category will be working the minimum number of hours needed to claim WTC which can be as low at 16 hours pw, so not actually workers in the way that most people mean, particularly when the "work" can be a spurious Ebay business or selling Avon products.

This will come to an end. About time too.

NorthFin

lisyloo wrote: »

Similarly there are much cheaper properties in zone 1 which are highly undesireable.
Those wanting to spend less can buy those too. I think we know that already.

It is the undesirable properties that will be empty for long periods of time. At the moment LL can always find someone desperate because the governmnet pays the rent.

But when this stops they will have to lower rents to the level where low income families can afford out of their own pocket.

The propblem is, can the greedy LL's still afford the mortgage payments when interest rates go back up to more normal levels?

CLAPTON

NorthFin wrote: »

It is the undesirable properties that will be empty for long periods of time. At the moment LL can always find someone desperate because the governmnet pays the rent.

But when this stops they will have to lower rents to the level where low income families can afford out of their own pocket.

The propblem is, can the greedy LL's still afford the mortgage payments when interest rates go back up to more normal levels?

a sensible landlord who wants to make money will therefore improve the properties to get a better rent

in London and the SE an additional 300,000 immigrants p.a. will increase demand and maintain prices; elsewhere things may be different

if however, LL can't afford the mortgage then they will have to sell to owner occupiers at reduced prices

so cutting HB is a win win situation all round

Killerseven

So if the cuts come in, will rents fall by the same amount?

CLAPTON

Killerseven wrote: »

So if the cuts come in, will rents fall by the same amount?

flats in westminster will be unaffected

chucknorris

NorthFin wrote: »

It is the undesirable properties that will be empty for long periods of time. At the moment LL can always find someone desperate because the governmnet pays the rent.

But when this stops they will have to lower rents to the level where low income families can afford out of their own pocket.

The propblem is, can the greedy LL's still afford the mortgage payments when interest rates go back up to more normal levels?

You seem to have a very skewed view of landlords, let me tell you what often happens with us. We always market our properties below market rent (because a wide choice of tenants is important, to ensure that we get the right people in our property). When we inform the unsuccessful tenants that they were not selected they nearly always offer more money, but it was never about the money, I think they probably think like you, and consider that money rules, it doesn't!

lisyloo

I don't think all LLs are like you chuck - and I mean that in a nice way :-)
For some, even many it is all about the money.
You experience and how you operate is an interesting contribution but it would be wrong to assume everyone operates like you.

cells

lisyloo wrote: »

I don't think all LLs are like you chuck - and I mean that in a nice way :-)
For some, even many it is all about the money.
You experience and how you operate is an interesting contribution but it would be wrong to assume everyone operates like you.

Were there more supply and tenants could be picky about landlords rather than landlords being picky about tenants then the landlords would have to be nicer and more accommodating.

One of the biggest oddities about the rental market (at least in London but probably most places in England) is that landlords pretty much don't care if tenants leave as another one is to be found in ten or less days. Thats in stark contrast to virtually all other business where losing a customer is terrible

As odd as it sounds we need more empty homes to make that happen. In the UK the occupancy rate of homes is about 99% elsewhere in Europe like france or Germany the occupancy level is closer to the 95% mark and probably less for rentals than for OO

lisyloo

I think landlords do care if their tenants pay on time or at all, trash the place or call at 4am about minor condensation issues.

I do agree with you that it's a landlords market and not a tenants market, but I don't agree that landlords don't care about quality of tenants.

We pay on time, don't call the landlord every time a light bulb goes and our landlord values that.