Landlord implementing conditions after the contract has been signed.

DarrenM343 said:
Sorry, that won't happen, what are we to become, a communist country?
Rents are what they are because people are paying the prices. And I'm saying that at the moment as a renter paying a little too much for my pad but I chose to do that - could have found somewhere cheaper but I liked this place :). As it's close to where I'm working the premium is worth it for me.
Should we also force house prices to come down too by limiting what someone can ask for their home?

Think landlords are best left self-regulating to be honest. If all renters chose to rent through an agent with a good reputation that would alleviate the problem. They give you phone numbers of their people to call (or recommended trades) and things usually get fixed quickly. They will also handle giving people access to the property. A private landlord will try to get you to be there to let them in. I personally would not rent from someone self-managing their properties unless I can get verification that they are good landlords.

Missing the first months payment is not good advice. Not only would they be breaking the terms of the contract themselves it could also affect a credit rating/reference in the future :). OP should as he said tore up the new changed contract or asked to renegotiate terms.
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Problem is unlike many other commodities people don't have the same level of choice - they have to live somewhere - so the market doesn't reset the same way.

Something is going to have to give eventually - its getting ridiculous around here - houses that people bought not all that long ago at say 155K are on the market for 400+K due to the "investment" opportunities from renting them out.
 
Rroff said:
Problem is unlike many other commodities people don't have the same level of choice - they have to live somewhere - so the market doesn't reset the same way.

Something is going to have to give eventually - its getting ridiculous around here - houses that people bought not all that long ago at say 155K are on the market for 400+K due to the "investment" opportunities from renting them out.
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yes, I was thinking that as I was replying (regarding people have to live somewhere), but there are always cheaper properties or even house shares (for singles anyway). But it's still supply and demand driven - too many people - too few homes.

Think naturally something will give. Big profits quickly usually equals some kind of bubble. As I mentioned, interest rate rises and the change to relief of interest mortgage payments may at least bring house prices down a bit if not rents. I dont see how any "good" investor would see a 400k house as a good investment if it was bought for 155k fairly recently - rent received is only one part.
I keep in contact with various agents and a common thing mentioned over recently years has been investors buying properties due to the low rate offer on savings in banks. Again, as interest rates rise many will prefer to keep the money in the bank - BTL is not without it's hassles. If investors who bought a property with cash to generate income can get say 5% from a bank they'll probably want to get the cash back in the bank.

On the topic of costs, everything is simply expensive in this country :).
I let a one bed apartment for £695 a month. The mortgage is only £142 but I still struggled to profit over £2k last year due to a month between tenants and the costs involved (ground rent, maint charge, inspections such as gas and electric - none of this cheap in this country). The year before a redecorated and fitted carpets throughout - £2k+ for that so no profits that year. See, it's not easy :). 10% of the £695 is also to agent who manages it as I live elsewhere in the country and also know I cannot get things fixed/replaced as quickly for a tenant as my agent can.
 
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My landlord asked me to sort out the window boxes at the front of the flat and sent me a link of acceptable plants...
 
I told him it's lower down my list of priorities and would buy plants for the window box when and if I felt like it. He was surprisingly understanding. Knowing him, he will replace them for me after a while. :)
 
wndsr said:
I told him it's lower down my list of priorities and would buy plants for the window box when and if I felt like it. He was surprisingly understanding. Knowing him, he will replace them for me after a while. :)
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I have a place with window boxes and am such a good landlord :D that I offered to continue paying the gardener to continue maintaining them (new plants twice a year, watering etc) but the tenant wanted to take them over :)
 
Slam62 said:
Sorry, why lol?
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Because all that will do is make houses even more expensive to rent.

The housing problem is this country is almost totally supply driven - and what isn't is down to government policy inflating housing price bubbles even more.


We don't build enough due to strict planning regs which actually favour big construction companies that have the legal teams to push schemes through, disadvantaging smaller builders and self-build

There's so many media fallacies on this subject is hard to know where to even start. I used to work for a company building homes and land banking is the best one. People really think that construction companies have acres of greenfield sites and say "jeez, let's not build anything and not make any profit"? No. They have enough sites so that they can guarantee a continuous level of work for their construction teams and no more - it's far more profitable to build than to land-bank.
 
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