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othello

Just Negotiated 33% Of Rent

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Just to let you know we just took out a new rental and got it for £1,650pcm against the asking price of £2,500pcm. The agent's advice to the LL was it is better to let it out that have it standing empty (it had been for a few months).

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Just to let you know we just took out a new rental and got it for £1,650pcm against the asking price of £2,500pcm. The agent's advice to the LL was it is better to let it out that have it standing empty (it had been for a few months).

you must be renting a MAMMOTH size property for that price, what's the housing specs if you don't mind me asking??

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you must be renting a MAMMOTH size property for that price, what's the housing specs if you don't mind me asking??

It's a big house 5/6 beds, very nice location....

However just got a call today from a debt collecter - seems like our LL is in trouble. Would be a real pain if we are forced to move again.

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It's a big house 5/6 beds, very nice location....

However just got a call today from a debt collecter - seems like our LL is in trouble. Would be a real pain if we are forced to move again.

Oops! What, your paying the mortgage isn't enough, now you'll have to meet his margin calls too! :P

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Oops! What, your paying the mortgage isn't enough, now you'll have to meet his margin calls too! :P

At a guess i expect this house to be worth over one million which which give a monthly payment at 4% of roughly £5,500. I would say the ability to rent a £1000000 property for the price of a mortgage payment on a 3 bed ex council house to be an absolute steal.

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I've been speaking to Letting Agents in Maidstone. Tip, always pretend on the first call you are a Landlord to avoid the sales pitch to tenants BS. I've asked them what stuff has been renting for and they are all telling me that at the top end (above £1200) a month that they are having to slash prices to get people interested. Stuff that has been sitting around vacant for months at 1550 is being dropped to 1250 pcm in order to get rented out. The bigger houses just don't have a floor under them.

£15000 a year for a £400k house seems pretty good to me. That's 3.75% gross right?

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