market rents budget

vsoe57

Nice news from the the budget NOTthe governments idea on charging housing association and council tenants current market rents if you earn over £40 k will throw lots of people on the streets that can mean two people on£ 20k will come into this mess I live in london suburbs and the market rents are a joke pushed up by estate agents and greedy landlords this joke from the this government will put my rent up by £700 A MONTH how is this possible will not be possible for me and countless others if this was mortgage this government would be out dont believe the hype from the press this is real help:mad:

Innys1

So you're only annoyed about this change because you're affected, yes?

vsoe57

Not at all this will lots of lives I am one of many to old for a mortgage so what are you left with .

HappyMJ

vsoe57 wrote: »

Nice news from the the budget NOTthe governments idea on charging housing association and council tenants current market rents if you earn over £40 k will throw lots of people on the streets that can mean two people on£ 20k will come into this mess I live in london suburbs and the market rents are a joke pushed up by estate agents and greedy landlords this joke from the this government will put my rent up by £700 A MONTH how is this possible will not be possible for me and countless others if this was mortgage this government would be out dont believe the hype from the press this is real help:mad:

I think you might find that your property won't be worth £700 more than it is now. A housing association/council property will always let at slightly less than the exact same property than if it was held privately.

Typically a private rental includes carpets and has been renovated...i.e freshly painted (within last 5 years) to a reasonable standard (at least it should be). When you are given a housing association property you provide your own floor coverings and if the property needs repainting either at the beginning of the tenancy or at any time during the tenancy then you do that yourself.

It will always be cheaper to rent a housing association/council owned property than rent a privately owned rental property.

It's also my experience that when you get a housing association/council owned property you don't get a cooker which you need to purchase yourself. Virtually every private rental that I've ever seen comes with a cooker.

Mrs_Cheese

Errr one person on 40K or two on 20k should be able to afford a £700 per month rent.

Innys1

Right..............so it IS because you will be affected.

I've got news for you - there's Govt policy which adversely affects me too. I'm pretty sure I'm not alone.

vsoe57

No that is the rise in rent

vsoe57

That is rise in rent so not so easy

AdrianC

A household with two people each earning £20k has an after-tax income of about £2,800/month. How much is your rent currently?

A random tenancy rent calculator suggests that a rent of about £1350/month - less than half that monthly income - is perfectly affordable and appropriate on that kind of household income. A quick look on RightMove finds a good choice of very nice two-bed properties for that money - or less - in a random London suburban borough.

You say "If this was mortgage"... but you forget one detail - that what's happening here is that the subsidy the taxpayer gives towards your rent is being removed. If rents are so unfair and excessive, then why don't you buy somewhere?

Sounds to me that you're miffed at the removal of the umbrella sheltering you from reality in a large city with an imbalance between residential property supply and demand.

AdrianC

Cheeky_Monkey wrote: »

Afterall, if you weren't a higher rate tax payer you wouldn't be in this position.

Point of order... Somebody earning £40k isn't necessarily a higher-rate tax payer - only if they have £2,400 or more deducted from their personal allowance. Two people each earning £20k definitely aren't - less than half of their income is subject to any income tax, so their personal tax rate is <10%.

linkin

Mrs_Cheese wrote: »

Errr one person on 40K or two on 20k should be able to afford a £700 per month rent.

They are saying it may go up by £700, not that the rent will be £700.