Rent has just gone up :(

artemizdl

We pay £390 per month rent for our bungalow. All of the bungalows on this estate are identical, however one landlord is asking £495 per month with a £1000 deposit! Needless to say this property is still on the rental market, as are about four others whose prices are around £495 per month (but with more reasonable deposits).

Just goes to show that you must charge what the market will bear, not what your bank tells you you have to pay.

I just can't believe that so many people payed upwards of £150k for properties that can only ever attract £400 - 500 per month in rent. Get rich quick eh????:rotfl:

aceades

HA HA HA HA,

Tell your landlord it is an extortionate increase, I’m sure once you have gone he will realize £470 a month is better than zilch - that would toss his mortgage payment payments up in the air

Buy to let middle class need a kick in the !!! , where are there morals making it hard for younger and less well of people to get on the property ladder just because of there own greed, and to then try an pass on there fees directly - ridiculous

If they cant afford it then sell the house and let someone who needs a home have one, what are they complaining about , they are making money on the property anyway just owning it,

I am surprised that many people still rent (usually its because they are forced to due to cost and availability) but with mortgages taking a hit recently a lot are going to have to put up their rent or sell up - selling up is probably their best option if they are concerned and cannot afford their mortgage payments, good news is that so many will be coming on the market prices will be reduced and people can buy again - A bit of British justice

Why do some people think that its only their life that really matters? Well im sure the ignorant will catch an awaking soon and see the extremely negative impact that the media has made on this country , most people this days are complete zombies, they cant do anything for themselves that really matters.

Back to the topic, this guy sounds like he hasn’t much LL experience , either that or he doesn't get on with the tenants, he could at least have discussed with them its just pure rudeness and stupidity on his behalf did he not employ any forward thinking ? or did he think the tenants had money to burn, again why are they there , probably because they cant afford a mortgage.

Personally i am finding it very hard to buy, though i have recently found some great 50% shared ownership schemes these say you 1000's on interest - try a £80000 property over 15 years , then the full £160 over 30 years , why pay the interest of an extra £80000 for an extra 15 years ?? That is a stupendous saving and a great way to buy a house, (when that’s done just buy the other half with another small mortgage) and in 15 years time i expect to be earning more than I am now which will make it much easier for me to live.

Only problem now is finding somewhere to lend me some money, if only so many people hadn’t taken out buy to let greedy-guts loans then I might have stood a better chance.

Oh well on with the struggle and down with those who mess peoples lives up with their personal greed, why make people homeless so you can have a bigger pie - who with me

Anyone would think we are meant to compete and separate ourselves from others lives, not perhaps actually think and concentrate their energies on our responsibility as a democracy and actually take it for the actions of our governments, they speak for us don’t ya know, once the TV and magazines etc move on so do we, zombies, yeah blind ones pulled along by strings, who looks out for us, no one but ourselves forcing people to become greed and separate from other, people are so much easier to control when they don’t share there opinions and lives

neverdespairgirl

DGJsaver wrote: »

£600 is snob territory ?

where do you live , beirut ?

It could be £600 a week, perhaps?

Icey77

aceades wrote: »

Buy to let middle class need a kick in the !!! , where are there morals making it hard for younger and less well of people to get on the property ladder just because of there own greed, and to then try an pass on there fees directly - ridiculous

If they cant afford it then sell the house and let someone who needs a home have one, what are they complaining about , they are making money on the property anyway just owning it,

This has irritated me a little, I worked very, very hard to afford my mortgage on my own at 25. I was lucky, I'll happily admit this, that the appreciation in the housing market allowed me to move up to the next rung - again on my own without help from parents or anyone else I might add.

Circumstances changed and I moved in with my boyfriend so we rented out my flat. The rent was obviously reasonable because it was taken before the photographer could even get in to take photos!

I try to be a fair landlord and I will have to top up the rent to cover the mortgage payment but this is my choice and I intend (I think) to stay in for the long haul and ride out this current downslide.

Not all LLs are cheating, theiving, out for all they can get, immoral gits you know!

Gorgeous_George

Nice to see the usual rants from te usual culprits

In the real world, the LL adds up his/her annual costs of running a house (mortgage, insurance, maintenance etc.), divides by 12 and adds profit. Occasionally, it may be appropriate to reduce the profit to zero or even make it negative. This might be the case in a rising market.

In a falling market, profit needs to be positive as the house is losing value month on month. This market corr...ash focuses the mind and the LL is likely to raise the rent to ensure the business is justified. If the tenant chooses to move, the LL may choose to sell up.

In a grown up world, people communicate with each other and seek middle ground through negotiation. Perhaps a lesser rise or a new front door.

As it happens, I have decided not to increase rent this year. My tenant has paid on time and entered into a good dialogue with me. I could have imposed a 5% increase and my tenant would have stayed. Looking at the figures, I've made a good profit this year. Next year I'm planning to spend more than the rent on home improvements. For me it is swings and roundabouts. Next year I will revise the rent to just below market value. That could be up or down.

GG

aceades

RE - Icey77

just for the record, i was talking in general and there are always exceptions, i would consider you an exception and extremely lucky !

Greedy people annoy me , things that arnt needed take premise over things that are essentials, a recnt example being the £7million overhaul of my local council building - just a place for peple to work at, when there are peolle who have no homes to live in, that money could have been used to build accomodation - just teh same as how this countries government wast so much money on themselves, !!!!!!!! and negative things live weopons and millitia when there are British people in the country that need food and shelter.

subjecttocontract

Next year I will revise the rent to just below market value. That could be up or down.


That revision will almost certainly be UP then.

Property prices down = rents up slightly
Property prices up = rents stable/ down slightly

Basic economics.

All the important people telling us there may be a price correction in the housing market are also expecting rents to rise.....

diana11

A landlord cannot increase the rent during the first 6/12 months of your contract. If he wishes then to increase it, it must be a fair increase and normally evidenced by, i.e the retail price index.

If the tenant feels this rent is unfair, they can ask for this rent to be assessed by a rent tribunal. The landlord is bound by their decision but bear in mind that the landlord can give the tenant two months notice to leave and recruit new tenants at whatever rent he wishes.

Once a landlord decides to increase the rent, he needs the tenant to agree in writing to this increase otherwise he has no power to persue this additional increase through the courts if he finds himself with any rent arrears.

beingjdc

cells wrote: »

you fail at basic math!

I'm just telling you what has happened in every previous crash. More people selling houses and fewer people buying them means fewer people looking to be landlords, and more looking to be tenants. When fewer people have something to sell, and more people want to buy it, the price goes up.

And yes, that is all "on average", people can choose to rent a smaller place, fine - if everyone does that then rents for small places rocket and rents for big places don't. People can choose to stay with family, but for the sake of 5-10% difference most people won't - if they were going to do that to save money they'd do it anyway.

The only thing that will stop rents going up in a crash is if a load of immigrants go home when the jobs dry up.

Our rent hasn't gone up since October '06, which is good, but I'm sure it will eventually. At the moment we could move further out of town and rent for 10% less, which we'd be tempted to do if the rent here went up - the last place I looked at was literally next to a tube station as opposed to our 10-15 minute walk, so that would make up most of the difference.

But we're on 2 months' notice and it's about to be rent day, so the earliest they can ask us to pay more from is about to be late July, no sign yet - we're model tenants, clearly. :cool: