Rentals go so quick

We rented a house between moves a few years ago, it was a lovely house but unloved. The Landlord popped round to see if we were ok and was he was shocked that I had polished the vestibule and hall floor. I said this is my home albeit temporary and I want to look after it. It’s a pity that others don’t see it that way.

JenniferEccles

You have to remember growstuff that some people chose to rent rather than buy as it suits them better for a variety of reasons.

One very nice couple we had a few years ago always rented as they loved moving around the country as the whim took them.
They had no children, both worked in areas in demand, and after living in one part of the country for a year or two, they then fancied a change.

Yes ideally all those who wanted to buy should be able to, but I do wonder if younger people these days are willing to make the sacrifices we did to secure a deposit for our first house.

The difference for most isn’t an unwillingness to scrimp and save, it’s that the percentage of income needed to save is a larger one.

When I moved in with OH I kept my little house and let it.

I had no idea how much the legal requirements would cost each year, things like gas and electric safety certificates, Legionnaires testing etc or that I would have to pay for my tenants deposit to be held safely.

I also didn’t reckon with the extent of wear and tear, even good tenants would inflict, just because it wasn’t theirs and they could be a bit gung-ho. Drinks spilled on all the carpets, heat and cut marks on the kitchen surfaces, a crack in the shower tray where a glass bottle fell of the shelf. The repairs cost far more than the rent and the deposit.

Many accidental landlords like me are not letting their homes anymore. In money terms it would have been better to let it stand empty.

When there were Council houses tenants looked on them as their homes and looked after them. Now most tenants are just passing through.

We desperately need to go back to public housing. Because house prices follow wages there will always be some people who are below the National average and who will struggle to buy.

The same in Derby and in North Wiltshire. It’s an absolute nightmare. We badly need a huge investment in social housing.

My daughter is buying her house on her road but is surrounded by rentals ! Prospective landlords pay above the asking price when properties come on the market so families have no chance! She feels isolated and there is a lack of community !
We did have rentals but sold over 5 years ago, too much hassle with tenants, rent not paid, damage to property plus conscience got the better of me ! Never again!!!

That's why we are selling.

I feel very upset for the young people without parental support. How can they be expected to find deposits unless they have a good job and save.
In the past, they took jobs as live-in servants or joined the armed forces but this cannot be for everyone.
Is Centre-point still going.

Yes…very much the same. My son was given notice on his flat in April… but because of Covid he has had a longer looking time .zhe has to be out end November. Every time he tries for one it’s gone.Then a week ago he sat up all night waiting to see if anything g was moving ….saw a flat 3 mins from his old one, and at right rent. Half hour later he had filled in on-line forms, paid his first mo the rent, paid agents fees. Sight unseen. It’s not exactly what he wanted but you have to take what’s out there. He’s in low paid work …. but luckily we’ve been able to boost his savings to help him but furniture as this on is unfurnished! He got his keys this morning and his first look-see will will be after he finishes work at six tonight! You just cannot let the grass grow!

Boz that day is already here. Six of my clients are, or have been, living in their cars - and most of those are people in work. I live in a small town where the LHA (the amount benefits pay towards housing costs) is:

Shared Accommodation Rate: £84.50 per week (1 room lodgings). This equates to £366 pcm, but the local rate for single room lodgings is between £500-£550.

The LHA rate for a 2 bed place: £593 pcm, but the actual cost for a cheap 2 bed rental is £750-£850.

To be honest though it's all moot because I've just googled and there are NO 2 bed properties to let in the town and No lodgings being offered.

We rent out two properties below market rent as they are invested as pension top up. The rents cover mortgages, insurances, repairs etc with very little left over as “profit” which we then pay tax on anyway. We did have another but the tenant left a huge mess and owed us money. We had always been fair with her, even lending her money a couple of times. (She has an admin job in our local hospital). It cost us a lot of time and money to put right. Our local council has no housing available although miraculously find some for refugees but not for people who have lived here all their lives. I advertised on Facebook pages and was inundated with people wanting to view. It went to the first person who saw it after his checks were completed. Lots of landlords have sold up as the odds are in the tenants favour now if there’s a problem. That’s why there’s so little stock to rent on the market.

Many'second homes'in Cornwall making it difficult for local 'first time' buyers to get into the property market

We can't just punish and disincentivise landlords while people don't have secure and well paid jobs so they can afford to buy, couple this with the kind of destruction some tenants can wreak on the homes they rent! Private individuals withdrawing from letting would be a disaster for people like students and those who need to move around a lot or don't have the wherewithal to buy overpriced property. Landlords should, perhaps, be local councils! Or is this too much to expect. Where I used to live, half a million quid would buy a lovely terraced 3 bed house overlooking a green, garden, parking, places for children to play, near schools .... yes, these are EX-council houses! People were valued by the state a great deal more then.

I have a horrible feeling that soon people will be living under flyovers or in cars?camper vans. Property is now all about money - without money for rental or purchasing property you are in a mess.

It's also perfectly possible to imagine a world outside of your own existence where there may have been hardship through disability or illness short or long term and periods of unemployment. Or financially life changing events like divorce. Not everyone has a straight forward life.

You have to remember growstuff that some people chose to rent rather than buy as it suits them better for a variety of reasons.

One very nice couple we had a few years ago always rented as they loved moving around the country as the whim took them.
They had no children, both worked in areas in demand, and after living in one part of the country for a year or two, they then fancied a change.

Yes ideally all those who wanted to buy should be able to, but I do wonder if younger people these days are willing to make the sacrifices we did to secure a deposit for our first house.

Lincslass

Rented my home out for two years, never again. He wrecked the place, and stopped paying rent, still employed as neighbour knew him, agents next to useless, insurance mostly refused wear and tear, although photos as I was leaving it showed immaculate cooker etc. Thank goodness I didn’t let it furnished, took most of my savings to return it back to the condition it was in, new kitchen, flooring, decorating. Yet as a tenant myself, even painted the walls as had couple of marks on them. Still ex service wife, know how to look after homes. Some people unfortunately don’t.

Fortunately, most do. My ex husband rents out numerous properties and has hardly had any problems. I live in a road of privately rented houses and everybody looks after their homes.

grannyactivist

I spoke to an estate agent recently and he said that, whether for sale or rent, when properties in the town come on the market there is usually a waiting list of people who are contacted. An ‘open house’ viewing is arranged and eight to ten people attend resulting in six to eight offers, with two of those being above the asking price in the case of sales.

The house next door to me was sold as soon as it came on the market for far above the asking price.

It's heartbreaking for those looking to get on the property ladder or who need to rent.

JenniferEccles

It’s encouraging that there is enough confidence in the economy here that the property market generally is so buoyant, both in sales and rentals.

I think property is still a good investment for the future as it’s unlikely there will be a shortage of people looking for somewhere to rent.
Property prices always go up, and apart from inevitable dips, it’s a good investment for, say retirement.

Yeah! It's great for landlords. Not so great for people who can't afford to buy and need to rent long-term. It's a sign that there isn't confidence in the economy. If there were, more people would have secure long-term jobs and would be eligible for mortgages.

The one thing a future government could do to "level up" would be to make investment in BTL lettings less attractive and to build more secure social housing.

I spoke to an estate agent recently and he said that, whether for sale or rent, when properties in the town come on the market there is usually a waiting list of people who are contacted. An ‘open house’ viewing is arranged and eight to ten people attend resulting in six to eight offers, with two of those being above the asking price in the case of sales.

The house next door to me was sold as soon as it came on the market for far above the asking price.

What a nightmare for you Lincslass

That’s one advantage though of the current high demand for rentals as a good letting agent can help the owner pick the best applicant, who is likely to respect the property and look after it.

It’s not foolproof though, so we always take out a Rent Guarantee scheme which would kick in if the tenants refused to pay the rent.

Rentals and sales gone within the first week whee I live.

Rented my home out for two years, never again. He wrecked the place, and stopped paying rent, still employed as neighbour knew him, agents next to useless, insurance mostly refused wear and tear, although photos as I was leaving it showed immaculate cooker etc. Thank goodness I didn’t let it furnished, took most of my savings to return it back to the condition it was in, new kitchen, flooring, decorating. Yet as a tenant myself, even painted the walls as had couple of marks on them. Still ex service wife, know how to look after homes. Some people unfortunately don’t.

Just catching up and saw your post about Airbnb Aveline, my sympathies to your daughter. I was house hunting in Kent, and stayed in a very nice self contained unit at the back of someone's house. I hadn't realised the large 'shed' in the garden was also a rental.

The next morning the owner knocked to 'apologise' for the commotion in the early hours. I hadn't been woken, but apparently the couple staying in the shed had woken them at 3 am because they couldn't remember the side gate key code. The husband said he came down and helped the couple who were extremely drunk, and as he helped/dragged the woman into his accommodation she wet herself. He'd asked them to leave at noon and said he'd never known anything like it, his wife was a nurse doing early shifts and she was very upset about it. Then he asked me if I wanted to see the CCTV - I did decline! Made me think twice about offering Airbnb when I moved.

LadyStardust

Some rentals in popular areas of Leeds are being snapped up without people viewing! If you wait for an agent to show you round a place, it will have probably gone by then!

Any area with universities such as Leeds are particularly popular with buy-to-let landlords. I don't think many properties ever make it to the market to buy/let, the agents just deal direct with the landlords.

Many tower blocks going up around the country exclusively for the student market.

Same situation for my 86y old friend in the Harrogate/Knaresborough area. She says it’s quite stressful and worrying at her age. At present she’s bunking up with family.