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SaintJay

Registered With A Coupleof Eas Today...

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needed to register for letting as being chucked out of current place - see thread in 'all about renting' and so popped into one of the many Countrywide offices where I live.

Other lettings girl was on the phone backward and forward between prospective tenant and landlord trying to eak more money out of a rental offer that was being put forward and heard this:

'I'm sorry - he can't accept it. He'd like to but that doesn't even cover his mortgage.'

I had to try very hard not to start laughing.

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A lot of landlords ARE desperate (more and more all the time). Why shouldn't prospective tenants lowball them? How else will they figure out who the desperate ones are?

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Why do some tenants think I should subsidise their tenancies at a loss?

My current thinking is rather than taking a low rent, I will just sell-out the flat. I have done that twice now, with a third sale on the way. Each time, so far I have book a profit. And so would be tenants will just have to look elsewhere, God Bless them.

Hong Kong is at a very different point in its cycle BTW.

It must be different as my landlord has the choice between subsidising my rent (which he is and which i keep screwing him for further discount every 6 month renewal) or selling the place at the going rate and earning himself an instant £100,000 debt to the bank. If I was him i'd sell as that debt is only going to get bigger. But I can understand why he can't bring himself to do that.

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needed to register for letting as being chucked out of current place - see thread in 'all about renting' and so popped into one of the many Countrywide offices where I live.

Other lettings girl was on the phone backward and forward between prospective tenant and landlord trying to eak more money out of a rental offer that was being put forward and heard this:

'I'm sorry - he can't accept it. He'd like to but that doesn't even cover his mortgage.'

I had to try very hard not to start laughing.

Oh well. Maybe the landlord will realise someday that rents don't always cover their mortgages. I won't hold my breath though...

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...something more perjorative like: "rip-off tenants." ...

Are you really that sad and bigoted? Someone is trying to get a good deal and you belittle them while you make a big play about how clever you are to get more money? The market is what people are prepared to pay. Tenants are the market.

As soon as we see people realise its about basic financial reality and not trying to show off in a childish and pathetic manner maybe some sense will come back to the housing market.

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Why do some tenants think I should subsidise their tenancies at a loss?

My current thinking is rather than taking a low rent, I will just sell-out the flat. I have done that twice now, with a third sale on the way. Each time, so far I have book a profit. And so would be tenants will just have to look elsewhere, God Bless them.

Why do so many landlords think tenants should be paying off all the principal on their mortgage debt?

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i was told exactly the same thing in an email when i (successfully) asked for another reduction. I did write an reply invoking the smallest violin in the world but backtracked on that deciding that there was no reason to take the p1ss and simply explained that, whilst i had every sympathy for the landlord, if i ever decide to start worrying about mortgage payments then they will be my own.

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right, finally got some time to reply to this.

Dr B - I think you got the wrong of the stick from my comments. There are 3 types of landlords - professionals, BTL numpties and unintentional landlords. This sounded like the middle one.

Lots of landlords are struggling to find tenants due to the flood of property on the rental market here in the UK. Prices are coming on with agents that are way above what they should be and people are making offers. Its quite reminiscent of the top of the bubble in sales from 2007. If the Landlord bought his property with a tiny deposit (or none as was widely available) and their teaser rate has ended, just because their mortgage rate goes up, doesn't mean the rent does.

If something seems overpriced, you wouldn't pay full price it - you'd at least try and haggle a bit and give a reason or shop around. This is what people are doing now. If you don't get that, then we'd have to put you in the BTL numptie section.

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