Rents' Are Soaring!!!!!!!!!!

pickledpink

On the TV yesterday it was reported that rents are rising really rapidly! I must say, I have noticed this too on the Agency sites - rents are indeed rising at a fast pace.

I suppose with so many more people looking to rent it all comes down to supply and demand, but some of these rents are VERY high. I suppose too that some homeowners, rather than selling while property is at a low, are just renting out instead. Makes sense them - just feel sorry for the people having to pay such inflated rents!

m00m00

not what I'm seeing with property bee

I'm seeing plenty of rent reductions


as with all property issues, there are many local issues, not one national one.

Catblue

Any evidence of this, pickledpink?

Like, which TV programme was it, which regions are affected?

Facts, stuff like that?

PasturesNew

Facts?? Why let those get in the way of a good use of EXCLAMATIONS!!!!!!!!!!!!!!!!!!!!!!!!!

Catblue

My favourite bit was the faux empathy:

"just feel sorry for the people having to pay such inflated rents".

merlinthehappypig

Absolutely. Our rent has just 'soared' from £900 a month to £925 for the next 12 months, unlike mortgages which are coming down every day..............

Icey77

I own a 1 bedroom flat in Buckinghamshire, my letting agents are advising a 6% increase in rent now that the tenancy has come around for renewal.

I am in regular contact with my tenants and we're negotiating this between us, I think we'll end up around the 4% mark. I would rather keep my tenants who are great (no bother to me ) then force a rent hike that will encourage them to leave.

Perhaps I am being too nice :rolleyes:

bobby-boy_2

Hi Icey you are not being nice you are being sensable, a tenant who agrees to the 4% rise will stay and a void period of 1 moth is probably greater that the 2% "extra" you would get from the 6% rise instead of 4%. Not to mention you have good tenants that you know

MissMuppet

I've not noticed a rise in rent, my landlords just gave me notice to move out (very unexpected) so I am on the look out for another place... They seem to be about the same as they were last year in my area.

I do understand why rents would rise though, if the interest rates go up then people will need to raise them to cover the mortgage... fingers crossed this won't happen to me.

Guy_Montag

Icey77 wrote: »

I own a 1 bedroom flat in Buckinghamshire, my letting agents are advising a 6% increase in rent now that the tenancy has come around for renewal.

I am in regular contact with my tenants and we're negotiating this between us, I think we'll end up around the 4% mark. I would rather keep my tenants who are great (no bother to me ) then force a rent hike that will encourage them to leave.

Perhaps I am being too nice :rolleyes:

Good tenants are probably worth keeping rather than losing them.

I posted this elsewhere recently - not that it proves rents are dropping, only that asking rents are dropping in one area. Thanks PropertyBee.

PasturesNew

I pay £350 on a studio, under 225 square feet in total.
Just gone from ast to periodic, no increase.
But they're lucky to have me. I'm a good tenant. Clean, tidy, quiet, respectful. Mindful of the property, I ventilate it thoroughly to stop damp occurring, I treat everything very carefully.

A landlord with a good tenant who hasn't over-stretched themselves would be happy to not to have to deal with problems and voids and so it makes good business sense to not increase the rent.