Soldato
- Joined
- 4 Aug 2007
- Posts
- 22,114
- Location
- Wilds of suffolk
Rental market has more competition than purchasing right now.
Many BTL landlords have left / are leaving the market.
Rent increase question
- Thread starter Diddums
- Start date
Rental market has more competition than purchasing right now.
Many BTL landlords have left / are leaving the market.
No, they told the letting agent to cancel the increase actually. Contary to your assumption they arent some property billionares looking to rip off the general public, but as with a lot of farm workers in the UK, have a house on the farm included with the job, as its kind of necesarry to be on site, but if you didnt have a place of your own, incase of redundance / illness etc, you would be pretty stupid. I suppose in your opinion, they should just take the gamble and cry on an internet forum about being homeless if the worst happened?
Or as my partner had, "the toilet is broken!!!!". Turns out the pull cord on the light had snapped. That was a very expensive pull cord when the plumber turned up to fix the issue. I would say this was 50:50 on the feckless tenants and useless management agent.
Gonna go look at these over the weekend,
www.rightmove.co.uk
www.rightmove.co.uk
Getting quite excited now tbh, seeing what we can get outside of london is quite an eye opener. The commute will be a bitch tho.
Check out this 3 bedroom house for rent on Rightmove
3 bedroom house for rent in Archers Place, Bishop`s Stortford, CM23 for £1,650 pcm. Marketed by Russell Property, Bishop's Stortford
Check out this 3 bedroom bungalow for rent on Rightmove
3 bedroom bungalow for rent in Robert Wallace Close, Bishop`s Stortford, CM23 for £1,650 pcm. Marketed by Russell Property, Bishop's Stortford
Getting quite excited now tbh, seeing what we can get outside of london is quite an eye opener. The commute will be a bitch tho.
Not finding that at all tbh, we've not had a single agency cancel a viewing or anything. Haven't gotten to the point of putting a deposit down though, that might be when we have a rude awakening!
Second seems nicer, especially the outside space.Gonna go look at these over the weekend,
Check out this 3 bedroom house for rent on Rightmove
3 bedroom house for rent in Archers Place, Bishop`s Stortford, CM23 for £1,650 pcm. Marketed by Russell Property, Bishop's Stortford
Check out this 3 bedroom bungalow for rent on Rightmove
3 bedroom bungalow for rent in Robert Wallace Close, Bishop`s Stortford, CM23 for £1,650 pcm. Marketed by Russell Property, Bishop's Stortford
Getting quite excited now tbh, seeing what we can get outside of london is quite an eye opener. The commute will be a bitch tho.
- Joined
- 14 Jun 2004
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- 17,520
- Location
- Newcastle U/T
Agree and with a little modification that brick thing int he front room could be changed into an indoor BBQ too!
I'm in West Wales and have two rentals - an accidental landlord tbh. Our old family home 3 bed semi, nice area is £550 but "market" seems closer to £700. Second was a relatives home I bought to help them move is £450 3 bed semi dorma but within spitting distance of LNG storage so not for everyone. Market would have it closer to £600. I've not raised rent in 6 years but with the mortgages up for renewal soon I'm having to consider a rent rise. Not something I want to do though and won't go higher than what it costs me to keep them. I'm hoping the one couple can buy the property from me which would suit me and hopefully avoid any upheaval and stress on their part.
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Caporegime
- Joined
- 22 Oct 2002
- Posts
- 28,471
- Location
- Boston, Lincolnshire
Gonna go look at these over the weekend,
Check out this 3 bedroom house for rent on Rightmove
3 bedroom house for rent in Archers Place, Bishop`s Stortford, CM23 for £1,650 pcm. Marketed by Russell Property, Bishop's Stortford
Check out this 3 bedroom bungalow for rent on Rightmove
3 bedroom bungalow for rent in Robert Wallace Close, Bishop`s Stortford, CM23 for £1,650 pcm. Marketed by Russell Property, Bishop's Stortford
Getting quite excited now tbh, seeing what we can get outside of london is quite an eye opener. The commute will be a bitch tho.
Could you perhaps maybe get a flat and commute in and use the money to save up for a deposit instead?
Could you find a flat that is similar to what you have now but further out for around 1k a month and put the money left over into savings for a deposit?
After 3 years you could pocket 40K if you saved hard and that should surely get you a deposit to get on the ladder. In 3 years time house prices would hopefully have gone down to pre-covid levels too.
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The first one looks so dark.
I hate dark houses. Lived in one. Was miserable.
The second one seems significantly better. If they are in a similar area, one looks suspiciously cheap/expensive.
Might be ERC or something like said.
What's the added commute cost/time?
That rent figure still makes me wince
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Soldato
- Joined
- 14 Apr 2014
- Posts
- 7,544
- Location
- Hampshire
Not sure on the legalities of this, but my mum recently found herself in a mildly similar situation.
Difference is that she had had rental increases each year and the landlord was refusing to fix some major issues in the property, including a leaking skylight in her room. They requested an increase of £200 YoY from £1350 to £1550. Previous year was £150.
We weighed up options, and ultimately decided to refuse the rent increase, but to make it clear that she would continue to pay the current amount until she found a suitable property, and then give the normal amount of notice as per her contract.
She has since found and moved into a new place.
I struggle with the situation as I can see both sides. Mortgages have gone up significantly for some, so it seems fair that your rent would.
Equally, that’s the risk one takes when letting out a property. It feels unfair that the tenant takes on the responsibility of your cost of mortgage payment increases, especially if you already pay a fair bit.
I’m really lucky where I live. My landlord has been great at getting issues sorted, and my rent increases have been appropriate.
Difference is that she had had rental increases each year and the landlord was refusing to fix some major issues in the property, including a leaking skylight in her room. They requested an increase of £200 YoY from £1350 to £1550. Previous year was £150.
We weighed up options, and ultimately decided to refuse the rent increase, but to make it clear that she would continue to pay the current amount until she found a suitable property, and then give the normal amount of notice as per her contract.
She has since found and moved into a new place.
I struggle with the situation as I can see both sides. Mortgages have gone up significantly for some, so it seems fair that your rent would.
Equally, that’s the risk one takes when letting out a property. It feels unfair that the tenant takes on the responsibility of your cost of mortgage payment increases, especially if you already pay a fair bit.
I’m really lucky where I live. My landlord has been great at getting issues sorted, and my rent increases have been appropriate.
True, but I doubt landlords are being able to pass on the full costs of mortgage increases to tenants if they have any significant mortgage. Tax makes it difficult.
Soldato
- Joined
- 25 Sep 2009
- Posts
- 10,076
- Location
- Billericay, UK
I used to live near Bishops Stortford, nice town and the commute to London is ok. The only thing with Stortford and the surrounding area was people marrying their cousins was fairly common place.Gonna go look at these over the weekend,
Check out this 3 bedroom house for rent on Rightmove
3 bedroom house for rent in Archers Place, Bishop`s Stortford, CM23 for £1,650 pcm. Marketed by Russell Property, Bishop's Stortford
Check out this 3 bedroom bungalow for rent on Rightmove
3 bedroom bungalow for rent in Robert Wallace Close, Bishop`s Stortford, CM23 for £1,650 pcm. Marketed by Russell Property, Bishop's Stortford
Getting quite excited now tbh, seeing what we can get outside of london is quite an eye opener. The commute will be a bitch tho.
Being from Norfolk Suffolk border, I don't see the issue here?
Deleted User 298457
Deleted User 298457
Get a new job. Loads going on in BristolGonna go look at these over the weekend,
Check out this 3 bedroom house for rent on Rightmove
3 bedroom house for rent in Archers Place, Bishop`s Stortford, CM23 for £1,650 pcm. Marketed by Russell Property, Bishop's Stortford
Check out this 3 bedroom bungalow for rent on Rightmove
3 bedroom bungalow for rent in Robert Wallace Close, Bishop`s Stortford, CM23 for £1,650 pcm. Marketed by Russell Property, Bishop's Stortford
Getting quite excited now tbh, seeing what we can get outside of london is quite an eye opener. The commute will be a bitch tho.
Edit: did they move bishop Stortford?
Edit2: I meant stoke bishop
Edit2: don't get a job in Bristol if you are considering Stortford..
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Caporegime
- Joined
- 22 Oct 2002
- Posts
- 28,471
- Location
- Boston, Lincolnshire
Being from Norfolk Suffolk border, I don't see the issue here?
How far away were you from Wisbech. Having webbed feet was common apparently.
Far enough! But I do know Wisbech.. Much to my horror.
Grim people and grim landscape!