Rental Properties.

[enduro]

One of my tenants gave me notice last week on a flat that i own..So last friday got onto the letting agent to advertise for a new tenant...And put the rent up by £50 per month.
Well i have just got in and he phoned and has 10 people who want it...:yikes: He said rental properties are getting hard to find as people cant get mortgages so the rental market is booming in my area. Young people havent got a hope in hell of getting onto the property ladder.

 

[Deleted member 9966]

tis a sad fact over these last few months Andrew. shame it wasn't so about 15 months ago when the family next door moved in as they were clearly supported by state funds to be in the 3 bedroomed detached property with their 3 kids. eventually they did a bunk after not paying the rent for 4 months and the agent who supplied the house to the council had to come in and change all the locks. it then took the house owner another 5 months to tidy the property up to a sufficient standard for it to be let out again. it was November before a lovely young, working couple moved in. 9 months in had been empty for, and the rent has gone up from 600 to 675pcm.

people up here have been struggling to get mortgages yet there are a huge abundance of properties for sale. it's very disappointing. hopefully mortgage lenders will see the stability of base rate as a good thing so that they will start providing suitable mortgages again, allowing people to buy a house if they want. I wouldn't like to be a first time buyer right now.

 

[Brinkley]

result for you enduro .

 

[chrisroe]

Rental in our area is also running hot i think cause people are so unsure about their futures / and our countrys future that they have decided not to gamble and rent

the house i started before christmas will rent out for £ 795 to £ 850 per month shame im going to sell it

 

[Dan]

Well done Endo. Sounds like it'll be snapped up in no time.

 

[Time's Ran Out]

You could always reduce it if causes you sleepless nights:lol:

 

[Mike]

be careful if you rent it to someone on benefits, my neighbour rents a house out and waited 2 months whilst his new tenants sorted out there housing claim then the dss paid the lot (back pay and all) to the tenant. he cashed the giro and done a runner. left the house in a tip too