calling all landlords - how r u finding the rental market

MissMoneypenny

jimc wrote: »

It's an uncomfortable truth for those who have sold and are renting in anticipation of reduced house prices later, that capital will erode faster than anticipated because of this.

Why would the capital erode Do you think that those who have sold their houses and are now in rentals, don't have jobs?

jimc_2

That's a very strict reading! Ok - change "capital will erode' to "outgoings will be higher" if you wish.

BTW. Current predictions are that many jobs unrelated to property are at risk because of the property situation but we'll gloss over that shall we?

MissMoneypenny

BTLNEWbie wrote: »

we are able to raise our rents to very good levels and have viewers thrusting cash into our hands to secure the property there and then.

Gosh BTLNEWbie, you post like pickles does.

pickles110564 wrote: »

We are sucessfully rasing our rates with renters wanting to thrust cash in our hands to secure on first viewings.

MissMoneypenny

jimc wrote: »

That's a very strict reading! Ok - change "capital will erode' to "outgoings will be higher" if you wish.

But that still won't erode the capital.

jimc wrote: »

BTW. Current predictions are that many jobs unrelated to property are at risk because of the property situation but we'll gloss over that shall we?

Why do you want to gloss over that? That is a very valid point in how LLs will be finding the rental market. Of course there will be job losses.

Welfare will be snowed under with requests for those that have little money. That is where the rentals come into their own for the tenant, as they will not be the one receiving repossession orders from their mortgage lender while they wait for housing payments. Welfare might very well end up being the ones who decide what the rents will be.

prudryden

I tried to read thru this thread starting at the beginning - but gave up out of confusion. Have I missed something?

borntobefree

http://news.bbc.co.uk/1/hi/business/7413849.stm


It would seem from the above that LLs are doing ok. Plenty of tenants and yields are starting to rise.

PayDay

borntobefree wrote: »

http://news.bbc.co.uk/1/hi/business/7413849.stm


It would seem from the above that LLs are doing ok. Plenty of tenants and yields are starting to rise.

If you are relying on what a journalist is writing to decide on your price, then your business could be in trouble. All areas are different.

moneysavinmonkey

borntobefree wrote: »

http://news.bbc.co.uk/1/hi/business/7413849.stm


It would seem from the above that LLs are doing ok. Plenty of tenants and yields are starting to rise.

that article doesn't say anything about plenty of tenants - well it says that people who are deciding not to buy are renting but that is just conjecture + not part of the survey the article is reporting on. There is nothing to say there is any increase in the number of people who wouldn't/couldn't buy

What the article does say is that the number of instructions to let properties increased by 30%. ie the stock of rental properties is increasing

More properties to let = more competition for tenants = rent falls

Not sure how this is good news for landlords, the statistic stating that less landlords are selling could be less to do with their sound financial state + more to do with the fact they can't/don't want to sell in a falling market.

moneysavinmonkey

i'm now wondering whether borntobefree is one of my past landlords as they share the ability to read something and take away what they want to believe from it, without that thing being there at all!

poppy10_2

jimc wrote: »

The BBC article I linked in my previous post states that there is a demonstrable inverse proportional link between house prices and rents.
To save you scrolling back, the BBC article is here.

That article doesn't really make sense. It says many people are giving up on selling and are instead renting their house out. Surely that increases the supply of rental properties and therefore drives down the price?

In any case, on the OP's original subject, rents locally (Yorkshire) are up around 10% over the last year, except for flats which have actually dropped a little.