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Can't rent my flat - help needed!
haircut100_2
Posts: 12 Forumite
Five months ago i moved to london from ipswich and decided to rent out my flat privately. in a nutshell i had a horrendous tenant who didn't pay me a bean for the whole time. luckily, i managed to get him out but didn't recoup any costs.
I have now put in on with a proper agent but it has been on the rental market for two weeks and has not been let! I've had to taken a second job in a pub in London to cover the costs of having to pay my London rent as well as my Ipswich mortgage and council tax but can't see an end to all this.
Any advice?
I have now put in on with a proper agent but it has been on the rental market for two weeks and has not been let! I've had to taken a second job in a pub in London to cover the costs of having to pay my London rent as well as my Ipswich mortgage and council tax but can't see an end to all this.
Any advice?
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Comments
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It has only been two weeks ... give it chance!Gone ... or have I?0
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Tried dropping the asking rent?Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0
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Sell the place in Ipswich.
Commute from Ipswich.
Ask for a lower rent.
Or
Be patient.0 -
Do you know what the current rental market is like at the moment? Not sure whether it is worth hanging on for a month or two or perhaps dropping the price now.
Its on for £495 (my mortgage is £420) and is close to a BT building so often gets enquiries from people moving to the UK from India to work there.0 -
haircut100 wrote: »Do you know what the current rental market is like at the moment? Not sure whether it is worth hanging on for a month or two or perhaps dropping the price now.
Its on for £495 (my mortgage is £420) and is close to a BT building so often gets enquiries from people moving to the UK from India to work there.
Your monthly mortgage payment is irrelevant. Potential renters couldn't care less how much your mortgage is.
How much are similar places renting for nearby? And I don't mean the ones you see advertised, I mean the ones with people IN them.
You'll probably find it's a lot less than you're asking.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
What size is it?
What is unique/good about it?
Why is it better than the others at the same price?
... and can Indians come here to work?0 -
Well, it certainly seemed high to me - i've been checking rightmove for similar properties and they are on for around £420. But if the agent has suggested i can get £495 then i'll be led by them initially. It wasn't me that set the price, i just want it let.0
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PasturesNew wrote: »What size is it?
What is unique/good about it?
Why is it better than the others at the same price?
... and can Indians come here to work?
Its a ground floor victorian flat with a garden, has new heating and windows, carpets and sofas. Its walking distance from the town centre and the bus and train stations and near the BT building of joy!
I think most of the Indian guys are sponsored graduates who already have jobs with BT back home and BT sorts all the visa out etc. so they are a safe bet.
The down side to the flat is its very small and has a shower room rather than a bathroom.
I do think it is overpriced though.0 -
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haircut100 wrote: »I do think it is overpriced though.
Then why haven't you lowered the price to £420??? Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0
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