What’s it got to do with the landlord? Neighbours can call the police to deal with any crimes going on.
What’s it got to do with the landlord? Neighbours can call the police to deal with any crimes going on.
Soldato
I guess the management company don't know that the flat is rented, so just email the relevant contact for that apartment
Management fees another thing to milk?
Someone I know was offered to look after properties for a fee, the funny thing is the person who wanted to pay them isnt the owner, but someone who is already being paid to manage the properties, so its a kind of double contracting out, of course with each person taking their cut of an ever increasing slice.
Housing is broken mostly because we stopped building social homes. Its created a double edged sword, where letting out properties is now done en masse at a commercial level, and the buyers of these properties also have reduced supply for owner occupiers. Both problems are linked together, but still treated differently by governments.
Man of Honour
I've no skin in this game at all.
I'm not a landlord, I have been a renter (I still am)
I live in a city where the state owns over 50% of the housing stock - utopia for renters compared to the UK.
I just don't agree with the demonising of UK landlords. I'm sure there are terrible landlords, the same as there are terrible proprietors of all kinds of businesses. My experiences as a tenant in the UK were overwhelmingly positive actually.
I'm not a landlord, I have been a renter (I still am)
I live in a city where the state owns over 50% of the housing stock - utopia for renters compared to the UK.
I just don't agree with the demonising of UK landlords. I'm sure there are terrible landlords, the same as there are terrible proprietors of all kinds of businesses. My experiences as a tenant in the UK were overwhelmingly positive actually.
That's twice they have accused me of being bitter, but they won't answer the question as to what it is they think I am "bitter" about.
Soldato
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Landlords don't set the prices, tenants do, if tenants won't pay the price because it's too high then LLs have to drop prices to get tenants in.
Month on month rental prices dropped from September to October and average voids increased from 14 to 19 days.
Upward pressures are still there going forwards though because of tight supply, it's still up 4% yoy and likely to continue going up over the next year, but month to month it just dropped.
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It has nothing to do with your Dad in all fairness.
Well I suppose masses of people could choose to be homeless instead, housing isnt a luxury good, so it doesnt quite fall into the old supply and demand situation. There is also of course tenants refusing to accept rent increases and moving out, but there is such a critical shortage, there will inevitably be a replacement. So of course landlords (or their representatives) set the rents. you are the first one I have seen claim they dont, usually they will admit to be in control of what they rent out for.
Also something not often talked about but I know is a thing, is councils using landlords to house people, for whatever reason I have rarely seen this mentioned in any press, even local press, but it is a thing. These rates are often quite favourable and will likely affect what prices go on the open market. Some of these cases have come from housing associations selling their stock, and then deals are made on the tenants by the council, other cases are councils having a problem with a duty to house people and having no stock having to turn to private owners.
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'One of his flats'.... How many does he have?
So instead of the flat being owned by someone that actually wants to live there, he's just leeching money from people instead? Yea no sympathy whatsoever, hope they trash his place.
Soldato
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So landlords costs decreased in sept/Oct and they decided to reflect that in rents being asked?
I don't think so.
Similarly, I had to replace a boiler this year, so as I'm a landlord and we always pass on all costs, I could have just whacked their rent up by £200?
Again, no, in the area there are of course other houses to rent and my tenants would have moved out.
So yes, supply and demand does very much apply to rents.
Landlords are being squeezed by government policy, it pushes some in to unprofitability, they sell, reducing supply, rents go up because tenants compete over the remaining supply.
LLs can always try to increase rents but without tenants paying the increase the house sits empty, hence also the increase in void time sept/Oct.
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Soldato
It's a bit of a double edged sword, on one hand you're paying off someone else's mortgages or you're giving money to an inept council for them to squander.
Commissario
Surely if landlords sell up, then either the flats/houses they are selling are going to other landlords or people that will own them and live in them?
Unless they're then being knocked down to maintain the high pricing in the local area? (IIRC there are some investment groups in the US that are very deliberately buying up entire new build suburbs purely to stop them being available as they've worked out they can make more money by deliberately crippling supply in the area).
It doesn't matter whether a landlord buys a property or if it's sold as a home for someone. The fact remains that there are not enough houses for everyone. It's a point that is consistently missed or ignored by many on this thread. Housing supply is limited in the UK as not enough houses are being built. But don't worry folks!! Never fear as all the old folk will die off soon and coupled with a declining birth rate, everyone here will be be able to pick up a mansion for tuppence.
You made a comment tenants set the rent, what has what you just typed to do with that?
Many landlords have come out and openly admitted they set rents as high as possible, usually either at current market rate or above it.
The difference between something like housing and luxury goods is, even if luxury goods are under supplied, if the price is set too high, consumers can get turned off, and wont buy them, with houses, people need somewhere to live. So instead of walking away, they instead go without other things to pay for the rent. Or they accept an agreement that they cant afford and end up defaulting (kick can down the road).
When you consider most LL's either buy outright or have interest only mortgage, and that most rents are considerably above what a full mortgage would cost on the property, its not hard to do the maths. My LL e.g. lives in a 15 million pound mansion. In my property alone he has taken approx 1/4 million in rent whilst I have lived here and the property is valued at just above 100k.
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Soldato
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houses are being sold by landlords to people who live in them, removing a rental house from the rental supply - not everyone wants to own a property so the number of renters doesn't go down because someone somewhere bought a house
immigration is still rampant, so for every 1 person/family that first time buy a property, there are several other families arriving who need to rent - there were over 400,000 work visas issued in 2023 alone and 293,000 first time buyers
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The faster the employment market mobility grinds to a halt the faster the government will be forced to act upon it rather than doing literally nothing.
It sucks now but coasting along is clearly not a solution that is sustainable any longer.
It sucks now but coasting along is clearly not a solution that is sustainable any longer.
I'm really not sure why this is so hard for people to get their heads around, but as they say, you can lead a horse to water..
Personally I think some people have an agenda and stick with it, no matter how much common sense & facts are presented to them.
What a way to live.
Commissario
And what about the people that would love to buy their own house but are renting because they have not other option.
Owning property to rent it out shouldn't be some sort of exception to the rule that your investment may go down as well as up.
A lot of people are renting largely because the amount of housing to buy outright has dropped as people have bought up multiple houses to rent out, often pushing the price up in the area. Meanwhile the profits of a lot of landlords are being propped up by the fact that the government is spending something like 25 billion a year to help people afford rent.
There is a balance, but from what I've seen a lot of people are paying as much to rent (if not more) than they would on a mortgage, and the multiple buy to let crowd have a much easier time getting the deposit down for their umpteenth house than a lot of first time buyers, in part because it's become a thing where your rental property tends to help you buy more rental properties.