Jump to content
House Price Crash Forum
AteMoose

Renting Out A Room

Recommended Posts

Currently trying to rent a room out and it feels like demand has almost dried up completely. Almost no-one has come round for a couple of months, and everyone who has says it is really cheap and really really nice, the best they have seen but they all are struggling for money.

0. When I first advertised I had people coming round, but I got the feeling they were other landlords

1. A Teacher at a private school looked but decided to take a cheap flat inside the private school instead

2. A South African Girl, but she had dubious visa and was only looking for a place for 2 months!

3. A South African Lad just turned up in UK, loved the place but again was struggling to find work and didn't have any money

.... and thats it...

There is almost zero demand, I think I could drop the price to £0 and would struggle to find anyone suitable. IMHO things are getting worse. This time last year If I advertised a room I would get calls all week and the room would be gone within 2 weeks...

Edited by moosetea

Share this post


Link to post
Share on other sites

Everyone has a friend who is looking for a lodger.

People will lodge with friends before looking in the paper etc.

People looking for lodgers has starting to collapse the rental market by pulling the bottom out... why rent for £600 plus bills when you can lodge with a mate wo need shelp with the mortgage for £300 all-in.?

I've said all along this will happen... when money gets tight people look to take in lodgers.

During the boom, people were urged to buy the biggest possibly place they could stretch to afford.

Now as a result everyone is struggling to pay the bills, but has 2 spare en-suite double bedrooms... what did people think would happen in that situation??? Reduced mortgage availability was never going to be what killed BTL, people cutting back will. People lodging with mates, people not moving out of their parents house, people en-mass (yes this is happening) moving back in with their parents to save money and help their parents with the bills.

Share this post


Link to post
Share on other sites
Everyone has a friend who is looking for a lodger.

People will lodge with friends before looking in the paper etc.

People looking for lodgers has starting to collapse the rental market by pulling the bottom out... why rent for £600 plus bills when you can lodge with a mate wo need shelp with the mortgage for £300 all-in.?

I've said all along this will happen... when money gets tight people look to take in lodgers.

During the boom, people were urged to buy the biggest possibly place they could stretch to afford.

Now as a result everyone is struggling to pay the bills, but has 2 spare en-suite double bedrooms... what did people think would happen in that situation??? Reduced mortgage availability was never going to be what killed BTL, people cutting back will. People lodging with mates, people not moving out of their parents house, people en-mass (yes this is happening) moving back in with their parents to save money and help their parents with the bills.

I think it depends on if you live somewhere where there is a good supply of jobs nearby. I can't see it being difficult to rent a room out where I live (St Albans) because of lots of jobs and good connections to London. However I can see the prices falling slowly as tennants gain negotiating power.

Share this post


Link to post
Share on other sites

We take in lodgers in London and there is still strong demand here. Often from young foriegners coming to London for work experience.

We have had Japanese, French, Australian and German lodgers.

We use Gumtree and it works quite well. London might be an exception though. Other areas with less of an international pull might not be as popular.

Do you advertise with Gumtree? Gumtree is quite big in London, it is even advertised on the tube sometimes.

I would recommend female Japanese lodgers, they are very polite and considerate and happy used to having less living space. The French lodgers monopolised the kitchen a bit.

Share this post


Link to post
Share on other sites
Moosetea: Where is this room? London?

Worcester..... (2 and a half hours away on a direct train through the cotswolds :P)

I found easyroommate didn't work, I tried gumtree without any success, spareroom worked really well in the past and you get a better quality of flatmate than from a newspaper ad. It has been empty for a couple of months now.

Edited by moosetea

Share this post


Link to post
Share on other sites

I'm currently renting a spare room in my mates flat while I save a deposit for my own place. He also has another spare room, which he normally has rented out but has been vacant for a while. He decided to put it on gumtree a couple of weeks ago. Since then he's had a few veiwings but none of them have taken it. For the first time he even paid gumtree for a featured ad to keep it near the top of the listings but still no joy - he says its never taken this long to find someone before.

However it might get a lot busier once its closer to term-time (we're very close to the Uni).

Share this post


Link to post
Share on other sites

Is your price competitive? Do you think there is anything putting them off? Is your advert friendly? Do you have good transport links? Is there anything that sets your place apart, for example is it a quiet home, suitable for someone who wants a quite place to live rather than a chaotic house share?

Are you asking them to pay househould bills? Do you have pictures on your advert? Is it a double room, could you fit a double bed in there?

I really sell our place when i advertise it and aim for professional or quiet people. a lot of house shares in London are pretty rubbish affairs, so I sell the benefits of being in a quiet almost family home environment (without children). My wife also speaks 5 languages, so we use that to help pull in foriegners new to England.

I used spareroom once, but it is partly a paysite, so didn't work anywhere as well as Gumtree, which is free.

Another free site you could try is Craigslist. Not as popular as Gumtree though.

Do you have a University near you? You might be able to get students in September.

Share this post


Link to post
Share on other sites
Currently trying to rent a room out and it feels like demand has almost dried up completely. Almost no-one has come round for a couple of months, and everyone who has says it is really cheap and really really nice, the best they have seen but they all are struggling for money.

0. When I first advertised I had people coming round, but I got the feeling they were other landlords

1. A Teacher at a private school looked but decided to take a cheap flat inside the private school instead

2. A South African Girl, but she had dubious visa and was only looking for a place for 2 months!

3. A South African Lad just turned up in UK, loved the place but again was struggling to find work and didn't have any money

.... and thats it...

There is almost zero demand, I think I could drop the price to £0 and would struggle to find anyone suitable. IMHO things are getting worse. This time last year If I advertised a room I would get calls all week and the room would be gone within 2 weeks...

Do you have any schools teaching English as a foreign language in your city? If so approach their accommodation officer - it may only be for 4 months in the year, but better than nothing. Also your local university may have a part dedicated to teaching English as a foreign language. Normally students would give your place a wide berth, as if they all lodge together they can avoid council tax, but you shouldn't have a problem with foreign students here for a limited time - often their biggest worry is finding somewhere nice to stay.

If you know someone who speaks Spanish get them to register and put an entry here (there are often requests for advice re UK accommodation there) :-

Spaniards forum

Share this post


Link to post
Share on other sites
Is your price competitive? Do you think there is anything putting them off? Is your advert friendly? Do you have good transport links? Is there anything that sets your place apart, for example is it a quiet home, suitable for someone who wants a quite place to live rather than a chaotic house share?

Are you asking them to pay househould bills? Do you have pictures on your advert? Is it a double room, could you fit a double bed in there?

I really sell our place when i advertise it and aim for professional or quiet people. a lot of house shares in London are pretty rubbish affairs, so I sell the benefits of being in a quiet almost family home environment (without children). My wife also speaks 5 languages, so we use that to help pull in foriegners new to England.

I used spareroom once, but it is partly a paysite, so didn't work anywhere as well as Gumtree, which is free.

Another free site you could try is Craigslist. Not as popular as Gumtree though.

Do you have a University near you? You might be able to get students in September.

Price is very competitive, I've even dropped it, it is now much cheaper than competition, Advert Friendly, containing pictiures, it has a double bed, Its a home not a traditional share, clean modern tidy, high quality furnishings and the full sky package, it is aimed at professionals, everything is included (All bills, Internet, and Free use of the phone for UK and some international calls, (talktalk)), If I drop the price any more it will be the cheapest in town! Yeah paying for an ad on spare room as it worked really really well in the past. The only thing that is different between last year and this year is the price is lower, the house is better with better furniture.

IMHO demand has almost totally dried up in the midlands, I will get a flatmate and it doesn't hurt not to have one so I'm not worrying, and If I drop the price further I will get more people on long term benefits ringing. I think the kids are moving back home or leaving the UK

Edited by moosetea

Share this post


Link to post
Share on other sites
Do you have any schools teaching English as a foreign language in your city? If so approach their accommodation officer - it may only be for 4 months in the year, but better than nothing. Also your local university may have a part dedicated to teaching English as a foreign language. Normally students would give your place a wide berth, as if they all lodge together they can avoid council tax, but you shouldn't have a problem with foreign students here for a limited time - often their biggest worry is finding somewhere nice to stay.

If you know someone who speaks Spanish get them to register and put an entry here (there are often requests for advice re UK accommodation there) :-

Spaniards forum

Its a good idea

Share this post


Link to post
Share on other sites

You say people have said that they like the room but don't have enough money to move in, so why do they bother going to view it in the first place?

Share this post


Link to post
Share on other sites
You say people have said that they like the room but don't have enough money to move in, so why do they bother going to view it in the first place?

From what I could pick up, they had the rent for a couple of months but that was about it....SA guy wanted to borrow money off his brother in the hope that he would get a better job. IMHO not worth the risk, potentially more hastle letting the room than not letting it.

Edited by moosetea

Share this post


Link to post
Share on other sites
Price is very competitive, I've even dropped it, it is now much cheaper than competition, Advert Friendly, containing pictiures, it has a double bed, Its a home not a traditional share, clean modern tidy, high quality furnishings and the full sky package, it is aimed at professionals, everything is included (All bills, Internet, and Free use of the phone for UK and some international calls, (talktalk)), If I drop the price any more it will be the cheapest in town! Yeah paying for an ad on spare room as it worked really really well in the past. The only thing that is different between last year and this year is the price is lower, the house is better with better furniture.

IMHO demand has almost totally dried up in the midlands, I will get a flatmate and it doesn't hurt not to have one so I'm not worrying, and If I drop the price further I will get more people on long term benefits ringing. I think the kids are moving back home or leaving the UK

Oh dear I am sorry. It really does just seem to be a a lack of demand then. Hopefully we won't have problems when we next need to advertise!

Share this post


Link to post
Share on other sites
I'm currently renting a spare room in my mates flat while I save a deposit for my own place. He also has another spare room, which he normally has rented out but has been vacant for a while. He decided to put it on gumtree a couple of weeks ago. Since then he's had a few veiwings but none of them have taken it. For the first time he even paid gumtree for a featured ad to keep it near the top of the listings but still no joy - he says its never taken this long to find someone before.

However it might get a lot busier once its closer to term-time (we're very close to the Uni).

I rented out my spare room back in 1993 to 1997 and had people calling for 2 weeks after the ad in local paper was published, often in excess of 80 calls from one advert.

Tried renting a room out again from 2003 to 2007 and it gradually got harder to find a lodger especially from June to September and beginning of December till well into January, Easter hols were not good either.

As other poster mention, too much supply and probably not enough money about now.

Share this post


Link to post
Share on other sites
Worcester..... (2 and a half hours away on a direct train through the cotswolds :P)

I found easyroommate didn't work, I tried gumtree without any success, spareroom worked really well in the past and you get a better quality of flatmate than from a newspaper ad. It has been empty for a couple of months now.

:P Thanks M! What's the rent? :lol::lol:

Share this post


Link to post
Share on other sites

Well if you have it well advertised then drop the price again. Better to have the room full and an income at 80-90% of your asking than to have no income.

Share this post


Link to post
Share on other sites
I think the kids are moving back home or leaving the UK

I think that's your answer.

Two of my sisters in their mid to late 20's are back living with parents.

This generation has been priced out of the housing market. Rent and there's no money left over to save and buying not an option. So they go back home to try and save and hope that one day house prices are more affordable again.

Share this post


Link to post
Share on other sites
:P Thanks M! What's the rent? :lol::lol:

If anyone is serious, I can give you details over a PM as I want to keep some things back as it is my home. I think I have given enough information already. Please Please don't treat it as a red rag to go on a google hunt and public data spree :P

Thanks

MooseTea

Share this post


Link to post
Share on other sites
Well if you have it well advertised then drop the price again. Better to have the room full and an income at 80-90% of your asking than to have no income.

I disagree there is always a level, I don't want a junkie paying peanuts to rent a room, crashing around messing my home up... There is a cost for bills and wear and tear and there is a level when it isn't worth it anymore. I can cope just find with a spare room for guests.

Edited by moosetea

Share this post


Link to post
Share on other sites
We could talk endlessly about

LIAR LOANS!!!

:P:P

that would wind the missus up! Your not looking for a room are you?

Edited by moosetea

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   287 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.