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Nautorius

Ea's Want Their Pound Of Flesh..driving Rentals Up!

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We have a UK property which we have had rented out Long Term. We were happy to take less rent (approx 30%) for a longer contract 2.5yrs. Now the EA that looks after it (who are very good) have a new manager. He has reviewed all the files and decided that our rent is too cheap. I have been contacted to tell me that rising rents have meant I am charging 40% below market rate. He stated that we put our house out for rent in the middle of the credit crunch and hence although that was market rate at the time, that he would be erroneous not to tell me we can get a lot more. He even says leave it to him and will give current tenants notice to leave and find us new Tenants. They are at the end of their 2,5 yrs agreement in August but have already asked me for an extension (through the agency so it must be on file).

The problem is he has not bothered to find out that we are living abroad and therefore want a long term tenant and that we traded tenant turnover for lower rent. All he sees is a 40% increase in their commission and extra fees giving old tenant notice and getting new tenant. When you work it out I would be marginally better off (only if property not empty for more than a month) but they would do a lot better. He also notes that we are paying less than anyone else for their services and that they should renegotiate (again as we did it at the height of credit crunch). So basically all the risk of this is on myself....

So we had a great relationship with a great EA, then a new whippersnapper comes in and completely annoys me! Why do these wide boys who know nothing about relationships (they are a service providers) get Jobs like his. Secondly, I feel sorry for the tenants who because of weak landlords falling for this could lose out on their home.

I have already put him straight.....my tenants stay and I am happy. Although they will probably be asked for a token increase (5%) which they have been happy to pay every yr already as they agreed it was a low starting point.

Rant Over

N.

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A lot of agents are looking to their rental books to keep them afloat since there is little selling.

I like that he has noted that you are paying the least and it seems to bother him. He knows full well that he cant renegotiate their percentage so the only way of getting more from you is as a result of a rental increase.

They must be feeling the pain.

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At my last renewal, my landlord told me they were happy to extend the contract for another 12 months at the same rate. Then two days later, I had an e-mail from them to say the EA had told them they were well below market rates and they'd like to come round to discuss it.

I called their bluff and told them there was no way I'd renew if the rate changed - no justification, just a straight "increase and I'm off". They backed down immediately, but I'm still p***ed off that they tried it on and were so easily manipulated by a greedy EA. Of course, the EA can more easily afford a couple of months with the property empty, so it's less of a risk for them.

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We've had exactly the same, the EA suggesting that we put the rent up 6% due to "inflation and market pricing". I've refused, on the basis that the tenant is reliable, decent and I don't want to piss them off. I can't understand a landlord who annoys tenants and drives up churn - the cost of exit/entry are stupidly high.

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It does help if the landlord can assess the quality of the tenants, re whether they are looking after the property well. In my present pad and the previous one, both people who came round to do the maintenance were related to the landlord. We made sure the place looked spick and span whenever they were coming round. Have subsequently yet to be hit with an increase in rent - why risk us moving out, losing a few weeks rent and then getting someone in who doesn't treat the place well?

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We've had exactly the same, the EA suggesting that we put the rent up 6% due to "inflation and market pricing". I've refused, on the basis that the tenant is reliable, decent and I don't want to piss them off. I can't understand a landlord who annoys tenants and drives up churn - the cost of exit/entry are stupidly high.

It's coz everytime they sling out a tenant they can charge for repainting the place/carpet/curtain cleaning etc and thieving some/all of the deposit.

My rental agency employs Polish painters, plumbers, handymen etc to do up the places on minimum wage - the agency charges about £30.00-£40.00 an hr to tenant deposit/landlords.

Also electricians/gas boiler checkers on their books

I even know one who pays cash 'backhanders' to the agency staff/owner to throw work their way. Maybe they all have to?

The other way Agency make their freeby cash is printing out new renewal contract every 6-12mnths/doing checks on new tenants etc so it's worth their while to upset tenants & make them move (for the churn charges)

Thats all before they charge their monthly take plus other 'trumped up' fees to landlords!

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At my last renewal, my landlord told me they were happy to extend the contract for another 12 months at the same rate. Then two days later, I had an e-mail from them to say the EA had told them they were well below market rates and they'd like to come round to discuss it.

I called their bluff and told them there was no way I'd renew if the rate changed - no justification, just a straight "increase and I'm off". They backed down immediately, but I'm still p***ed off that they tried it on and were so easily manipulated by a greedy EA. Of course, the EA can more easily afford a couple of months with the property empty, so it's less of a risk for them.

Is there a way of quantifying if the rent you are paying is high / low / accurate etc? If these snakes are telling the landlords its too low , they then both gang up on the tenants and I would imagine the tenants will struggle to fight the increase.

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I am always amazed that people get chased out with higher rents.

There is a shop near where I work that closed after rent increases (according to the note in their window). It has now been empty for 14 months. If/when they get a new tennant it will take tens of years to make that fallow period up surely?

I would agree that keeping hte place occupied should be a priority! Sure the odd rise is needed but just keep it a few percent to allow for inflation.

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There is a shop near where I work that closed after rent increases (according to the note in their window). It has now been empty for 14 months. If/when they get a new tennant it will take tens of years to make that fallow period up surely?

Cross-reference to this thread. Another consequence of NuLab's brilliant measures to save the world.

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Cross-reference to this thread. Another consequence of NuLab's brilliant measures to save the world.

It will all be the conservatives fault for bringing the pain, just like last time. I cant wait until next time liebour get in, they should be able to really do some damage next time.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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