Rents rise as house prices fall

IveSeenTheLight

I wont argue that in some area rent may be dropping.
On average though they are rising.

I have no sympathy for LL's who rent out property that have not been maintained.
The sooner there is legislation / governing of LL's and tenants the better.

In scotland there is already a requirement to register as a landlord which they portray as having a record of landlords and ensuring that they are suitable landlords.
I think that it is so they know which properties are accountable for capital gains upon selling.

Generali

IveSeenTheLight wrote: »

I wont argue that in some area rent may be dropping.
On average though they are rising.

I have no sympathy for LL's who rent out property that have not been maintained.
The sooner there is legislation / governing of LL's and tenants the better.

In scotland there is already a requirement to register as a landlord which they portray as having a record of landlords and ensuring that they are suitable landlords.
I think that it is so they know which properties are accountable for capital gains upon selling.

The legislation already exists. The problem is that as tenants don't have security of tenure they get thrown out if they ask for basic repairs in many cases.

poppysarah

The source of this fact about rents rising is from a mortgage company.

Presumably all the BTL are claiming rents have gone up so they can still have their silly loans.

Becks045

I have several buy-to-lets and I've had to find new tenants in the past few weeks for two of my properties (East Kent) and my phone has not stopped ringing. For a house, I've had at least 35 phone calls in the space of 10 days compared to about 5 at the end of last year.

I've got another property, my ad went in the newspaper today and my phone started ringing at 9.01am this morning. Again, far more response and people seem to be saying that good rental properties are few and far between.

I'm happy!

MissMoneypenny

Generali wrote: »

The legislation already exists. The problem is that as tenants don't have security of tenure they get thrown out if they ask for basic repairs in many cases.

The CAB are trying to do something about that, but our government don't move quickly - unless it is for a pay rise for themselves or hiding their expenses.

"The CAB report recommends that where tenants who face eviction believe action has been taken in retaliation, a judge should have the discretion to overrule the use of Section 21.The report also recommends that measures are introduced to prevent landlords from taking retaliatory action by imposing extraordinary rent rises instead."

"Research in the report also shows that in Australia, New Zealand and the majority of US states there are laws designed to prevent retaliatory eviction. In several European countries, the problem does not arise because tenants have greater security of tenure. "

http://forums.moneysavingexpert.com/newreply.html?do=newreply&p=11062917

As we are in the EU we should really be following other European laws.

MissMoneypenny

Becks045 wrote: »

I have several buy-to-lets and I've had to find new tenants in the past few weeks for two of my properties (East Kent) and my phone has not stopped ringing. For a house, I've had at least 35 phone calls in the space of 10 days compared to about 5 at the end of last year.

Is one of these the house you were selling in Margate?

I'm in North Kent (so nearer for London) and rightmove show nearly 200 LLs looking for tenants. I was walking my dog last night, just round the streets here and was noticing how many more "To Let" signs were springing up. As those houses haven't had For Sale boards on them, I assume they are a change of tenant.

PasturesNew

If rents went up too much, I'll just buy a camper van and live in it.
Rent/basic bills are already 50% of take home pay on a fairly OK job so if it went up to 70-80% it's hit the Hippy Trail time!

LittleMissAspie

I've read lots of threads on whether rent will go up or down and there doesn't seem to be a general consensus. I personally think they will go up at the start of a crash but settle down later on.

My boyfriend and I downsized in March. Paying £100 a month less for rent (though Council Tax is £20 more cos in higher band). 12 month contract so we don't have to worry until March 2009. By then the HPC will coming along nicely, so if I'm right above then it won't go up by much.

PasturesNew

It would be easy enough to watch rents in your local area yourself, by monitoring the LHA.

LHA figures are updated monthly. So one could work out their LHA rate (in some cases the rate that you'd be allowed and perhaps the LHA for your actual property type, if you're living in a place deemed larger than your needs), then plot that/those figure/s month by month.

It'd be more meaningful than news reports of averages, with journalist spin.

ManAtHome

They blipped up last time, then tanked - why do you think properdeee was relatively cheap in the mid-90s, coz reantal income was "through the roof"..?