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What is happening in the rental market?

RHemmings
RHemmings Posts: 4,895 Forumite
Part of the Furniture 1,000 Posts Photogenic Name Dropper
in House buying, renting & selling
Having bought a house, the rental property I'm currently in is on the market for new tenants. 

It's listed for hundreds more than I'm paying a month, and the number of viewings is just unreal. 

Is this typical? 
«13456

Comments

  • Flugelhorn
    Flugelhorn Posts: 7,658 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    I think rental property is in huge demand - viewings get booked up very quickly 
  • Albermarle
    Albermarle Posts: 31,460 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    RHemmings said:
    Having bought a house, the rental property I'm currently in is on the market for new tenants. 

    It's listed for hundreds more than I'm paying a month, and the number of viewings is just unreal. 

    Is this typical? 
    The very high demand for rental property has been in the news for months/all last year.
    It is worse in some areas than others.
  • MikeJXE
    MikeJXE Posts: 3,972 Forumite
    1,000 Posts Third Anniversary Name Dropper
    East Midlands but more central

    2 bed flat this time last year was £625 now  £725 + 

    My 1 bed  I moved into last  February was £625 

    No increase yet 
  • Albermarle
    Albermarle Posts: 31,460 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    MikeJXE said:
    East Midlands but more central

    2 bed flat this time last year was £625 now  £725 + 

    My 1 bed  I moved into last  February was £625 

    No increase yet 
    A friend searched Reading area for 6 months before securing a property. One bed flat - £1050 per month + bills.
    One year rent up front.
  • horsewithnoname
    horsewithnoname Posts: 950 Forumite
    500 Posts Third Anniversary Name Dropper
    Try getting a rental on near minimum wage! They won’t even consider you, even if you’ve been paying your rent on time and been no trouble for decades. And if you should expect anything, like repairs done then the rent goes up or you get a section 21. But you need to live somewhere and can’t afford to save for a deposit to try and buy. 
    But yeah, rampant house price inflation is a great thing 🙄
  • RHemmings
    RHemmings Posts: 4,895 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Albermarle said:
    RHemmings said:
    Having bought a house, the rental property I'm currently in is on the market for new tenants. 

    It's listed for hundreds more than I'm paying a month, and the number of viewings is just unreal. 

    Is this typical? 
    The very high demand for rental property has been in the news for months/all last year.
    It is worse in some areas than others.
    Yes, but I didn't expect it to be quite like this. 
  • oldernonethewiser
    oldernonethewiser Posts: 2,852 Forumite
    Seventh Anniversary 1,000 Posts Photogenic Name Dropper
    Supple and demand, lots of potential renters and too few properties available.

    Sad really.
    Things that are different: draw & drawer, brought & bought, loose & lose, dose & does, payed & paid


  • Alderbank
    Alderbank Posts: 4,343 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper
    oldernonethewiser said:

    Supple and demand, lots of potential renters and too few properties available.

    Rental properties now go so fast that you have to be agile as well as supple!
  • theartfullodger
    theartfullodger Posts: 15,999 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Tory government: Largely don't care about those who rent.

    Others will hold alternative views.

    Best wishes to all.
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