1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

London Rental Market

Discussion in 'General Discussion' started by aumz, Jan 5, 2012.

  1. aumz

    Hitman

    Joined: Feb 6, 2003

    Posts: 748

    Location: Sutton

    Just sooo peed off with the whole affair I tell you. These Agents and some Landlords need a good kick up the ass.

    Just over a year ago moved from Swansea to Sutton. Now we are looking for a different place to rent and hopefully bigger. Our options are limited due to adverse credit, though since renting for the past 8 years have never fallen behind in rent payments.

    However the fees that agents charge are getting on ridiculous for basic checks but now seen an advert asking for 6 months rent upfront.....if I had that I would be looking to get a mortgage.

    Next thing is the state of some of the properties are just disgusting, last one we saw my 7 year old said they living like monkeys in there. Yes that has been done by tenants but there are also Landlords that simply do not prepare their property to a high enough standard. If I am paying £900pcm plus per month I expect a very good standard of property.
     
  2. Efour

    Capodecina

    Joined: Sep 8, 2005

    Posts: 24,251

    Location: Norrbotten, Sweden.

    ok
     
  3. TMP

    Hitman

    Joined: Jan 25, 2005

    Posts: 621

    I feel your pain man, unregulated profiteering landlords and estate agents really make renting in London a nightmare. I had 2 places fall through last minute (literally left my old place, packed and ready to go) because another estate agent found someone who would rent for more per month...

    Got lucky though and found a good standard new-build for less than what some landlords wanted for there dilapidated squalors, its owned by 1 investor who has a management company, this seems to offer a much more professional service than most privately owned lets.
     
  4. haz_pro

    Wise Guy

    Joined: Dec 11, 2009

    Posts: 1,579

    I'm not surprised that some of the places are disgusting tbh, sutton isn't the nicest of places.

    May not be of any help to you but Stoneleigh is just down the road and was quite nice when I used to live there (now live in Worcester Park :( )
     
  5. Freefaller

    Man of Honour

    Joined: Jun 5, 2003

    Posts: 86,983

    Location: Falling...

    I hear you. I'm sick of renting (fortunately I don't at the moment and am saving for a place) and have spent over £75k over the last 8 years on rent alone. They always screw you over with deposits, check-in fees, check-out fees, blah blah blah.

    I've learnt a lot through renting, and whilst in general I've had it good, I resent the money I've spent over the years - however as close as I am with my family I couldn't live at home, I valued my independence too much.

    Some places were asking silly money for what was frankly, apalling property that is worth 1/2 the price. The straw that broke the camel's back for me was my last property where the landlady basically shafted me when HER property fell to pieces, damaging my stuff and potentially putting my life at risk.

    London's rental market is great if you're the landlord - in fact it's a good earner if you're able to get a few properties to rent.
     
  6. aumz

    Hitman

    Joined: Feb 6, 2003

    Posts: 748

    Location: Sutton

    Well done, just need some of that luck. Saying that though we did get offered a place with L&Q on a key worker scheme but it was just too far outside of London to make it viable. All the inner London key worker schemes seem to be shared ownership now and not so much Intermediate Rent.

    This government really needs to address this issue.
     
  7. alx

    Soldato

    Joined: Aug 10, 2003

    Posts: 5,976

    Location: Dubai, UAE

    Could someone not start up one of those e-petition things?

    Surely you wouldn't struggle to get the 100,000 signatures?
     
  8. WillyNelson

    Soldato

    Joined: Oct 28, 2003

    Posts: 5,439

    Location: Worthington-on-sea

    Did you not sign a contract? Moving out of your existing acommodation without an assured place to move into is just asking for trouble!
     
  9. aumz

    Hitman

    Joined: Feb 6, 2003

    Posts: 748

    Location: Sutton

    Good thinking Batman, have just had a look and there are a few there already.

    This was just searching under Landlords

    Time to review and get signing, also few other terms to search.

    OK THIS ONE

    Basically covers what I am unhappy about if this applies to you or even if not please do sign it.
     
    Last edited: Jan 5, 2012
  10. apatia77

    Mobster

    Joined: Mar 25, 2005

    Posts: 4,708

    Welcome to rental market in London where it cost a fortune and nobody cares as there are always people willing to rent.
     
  11. RickST

    Wise Guy

    Joined: Feb 5, 2008

    Posts: 1,261

    Yep, renting in london sucks nuts. Paying 1k a month for a room, I am looking at the shared ownership stuff this week, seems a bit too good to be true if i'm honest.
     
  12. TMP

    Hitman

    Joined: Jan 25, 2005

    Posts: 621

    Well you actually have nothing binding when you hand over the holding deposit, which is what I did both times. The contracts are usually always signed on the move-in day when you are given the keys, up to that point you actually have no legal right to rent the property, the holding deposit only means that the agent will not show the property to anyone else. However most properties are listed with multiple agencies nowadays.

    Also after looking into and reading a bit about the shared ownership scheme, it look like a bit of a scam to artificially inflate new-build house prices. Looking around there are a lot of horror stories regarding service charge going up 17% or so annually, to actually match the rent you pay on the developers half.
     
  13. Edrof

    Capodecina

    Joined: Nov 16, 2009

    Posts: 15,879

    Location: UK

    In my experience, while shared ownership might be good for some, for us it has been the worst aspects of renting coupled with the worst aspects of owning.
     
  14. regulus

    Sgarrista

    Joined: Aug 18, 2006

    Posts: 9,640

    Location: Wellington, NZ

    Rent private, that's what I do. Obviously you need to find the right landlord, but when you do, it's a doddle.

    Saying that, before I found my current place I went to see a few places via estate agents. And by estate agents I meant 18yo kids with a boy racer, Asda suit and no clue. I was showed a place for 1500 a month (budget) that resembled 3 prison cells linked together. The girl downstairs was a prostitute (yes, for real) and the girl who I was meant to take over the flat from had abandoned mid-contract and moved to her boyfriend. Was hilarious watching the little halfwit trying to sell me that dump.

    Anyway, I took a place for 3 months from a friend and found a lovely place afterwards in one of the best neighbourhoods in London, for £1400 a month all in. All private. The gf is moving in with me in April which chops my rent to £700 then.
     
  15. Edrof

    Capodecina

    Joined: Nov 16, 2009

    Posts: 15,879

    Location: UK

    With renting, who maintains the gardens?
     
  16. aumz

    Hitman

    Joined: Feb 6, 2003

    Posts: 748

    Location: Sutton

    If it is a garden that is part of the property then you have to maintain it, but I believe the Landlord has to provide the tools required along with the property.

    If it is a communal area then the landlord has to maintain it...hence service charges
     
  17. h00fzilla

    Hitman

    Joined: Jul 1, 2009

    Posts: 674

    Location: Finsbury Park

    Best experience I've had is with our current private landlord. Reasonable guy, sorts any issues out asap and just wants reliable tenants.

    Estate agents previously absolutely boned us; maintenance was never done, despite lots of phone calls and cajoling from us. They basically didn't want to know we existed as long as we were paying rent. Also heard horrible tales of companies like Foxtons taking massive admin fees/holding fees/crazy deposits and so on for new rentals.

    Get on Gumtree for private rental and be prepared to be quick! We rang to book a viewing for our current place 8mins after the ad went on Gumtree. The following day, when we turned up for our viewing, the landlord had already had 40 enquiries, including about 20 viewings!
     
  18. WillyNelson

    Soldato

    Joined: Oct 28, 2003

    Posts: 5,439

    Location: Worthington-on-sea

    So as the holding deposit is absolutley pointless I assume you got it back?

    There's nothing to stop you signing the contract ahead of the move in date. The Agent should have no cause for complaint as it effectivley guarantees the rent for the first 6 months whether you move in or not.
     
  19. Edrof

    Capodecina

    Joined: Nov 16, 2009

    Posts: 15,879

    Location: UK

    Thanks for the info.
     
  20. Milkybk

    Soldato

    Joined: Mar 16, 2010

    Posts: 6,722

    Location: Sheffield

    We have to do ours, if it becomes damaged through neglect then we have to pay for returfing (been the same in most houses I've lived in).