athom Posted July 2, 2011 Share Posted July 2, 2011 Back into looking for a new rental i've spotted a nice enough place for the right money but have found it was recently for sale (floor plan and measurements on listing was the clue). Found an old advert for 375k not sure yet when it was bought or for how much but rental asked is 900/month which is bordering on suspiciously cheap around here. If they failed to sell it, is it less than 100% likely that they will be thinking "wait a year for the market to recover and try again" and what will they likely do when the market continues to fall? I'll try asking for a 2 year or more lease to see what they say. Anything else i can do to work out what's likely to happen? If they try to assure me it's not short term i might try asking for the last month to be agreed free if i have to move within a certain time, to over expenses. Anyone managed that? Quote Link to comment Share on other sites More sharing options...
Flopsy Posted July 2, 2011 Share Posted July 2, 2011 Good luck. I've not tried that yet. The house and flats in my list to go from sales to rental, keep coming back on to the market. Some go from sales to rental back to sales. Other go to sales to rental to rental to rental. I've been following the same two areas for years now so can recognise them. I'm guessing that some owners are renting them out for a year then trying to sell, then renting them again. Don't know if they evict the tenants or they just leave each time. Quote Link to comment Share on other sites More sharing options...
athom Posted July 2, 2011 Author Share Posted July 2, 2011 Good luck. I've not tried that yet. The house and flats in my list to go from sales to rental, keep coming back on to the market. Some go from sales to rental back to sales. Other go to sales to rental to rental to rental. I've been following the same two areas for years now so can recognise them. I'm guessing that some owners are renting them out for a year then trying to sell, then renting them again. Don't know if they evict the tenants or they just leave each time. Thanks for that, my current landlady bought for 230k in 2007 and my neighbour just had his house valued at 300k, i know she was about to have her house valued to remortgage and i guess the news was better than she hoped for.... We got a letter from the EA saying to expect viewings with 24hrs notice. I'll try to restrict them heavily and my wife loves to cook a curry, dried fish even but i think she'll still sell even when she realises she's not getting 300 as she must realise she'd be lucky to get her money back and i think she will here judging by the market (Bath). I'm assuming a move is imminent so i've started looking seriously Anyway this new house is attached to a rural pub which will account for the lower than usual price and i've just found the pub is for sale and it seems to be recently put up. If i owned the house i'd put some of the blame for the lack of viewings on the pub and when i saw it coming up for sale i would take my house off the market until the pub has almost inevitably been converted into residential and then i'd put it back on and expect to get considerably better offers, bung another 100k on perhaps, what the hell. As i type i'm writing this place off Might still try the last month free trick and go for it even knowing we'll have to move, might be years. Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted July 3, 2011 Share Posted July 3, 2011 I tried a couple of 2 year rental offers earlier this year on sale/let houses. As suspected, the owners weren't intersted which suggests to me they're reluctant landlords and would sell as soon as they could. HAd to leave last house after 12 monhs because owner wanted to sell. Has supposedly sold but house still empty. Quote Link to comment Share on other sites More sharing options...
athom Posted July 3, 2011 Author Share Posted July 3, 2011 (edited) I tried a couple of 2 year rental offers earlier this year on sale/let houses. As suspected, the owners weren't intersted which suggests to me they're reluctant landlords and would sell as soon as they could. HAd to leave last house after 12 monhs because owner wanted to sell. Has supposedly sold but house still empty. It's a major pisser isn't it. I'd quite like to stick it to the landlady TBH as she's been useless on problems and promised this would be a long term let (her pension ), would be nice to get my 1 month notice in before she's even put the place up, got to be 6 months to a year of potential void for her to suck up as i'm pretty sure she'll put a fantasy figure on first thinking nothing to lose while she's got a tenant. I'm not having strangers looking in my cupboards thanks very much would be like being burgled weekly. Hate the freaking inspections enough as it is. ******** to renting :angry: Edited July 3, 2011 by athom Quote Link to comment Share on other sites More sharing options...
athom Posted July 3, 2011 Author Share Posted July 3, 2011 I know you're an old timer on here athom but you don't have to allow viewings. I found that out from here already thanks, but believe it or not this is my first proper rental, before i've been living in bedsits in london, boats in london for 3 years, in-laws house, holiday lets while temping in the winter, and abroad. This is the first time i've ever had a lawn, left it last year, eco garden, won't be doing that again so the upshot is i could do with a decent reference. Think my chances would be slim if i badly obstruct viewings. Landlady won't answer my calls, i want to know what she's put it up for to have an idea how likely it is to sell. Quote Link to comment Share on other sites More sharing options...
cybernoid Posted July 8, 2011 Share Posted July 8, 2011 If a property I'm looking at on rightmove is for sale as well as for rent, or if the rent advert is obviously a conversion from sale to rent (measurements etc) it's off the potentials list. It's just not worth it. It means estate agents hassling you for viewings or just illegally letting themselves in your home to show people around, it means a reluctant landlord who are to be avoided like the plague as they have no clue what it means to rent out a property, and it means being given your notice at some point in the future. Avoid avoid avoid. It's also quite satisfying to leave these idiots who wont lower their selling price to a sellable level out to dry when they try to 'just rent it out instead until the market recovers'. Renting is crap I the uk at the best of times, choosing a seller who thinks they know about renting is just asking for trouble. Quote Link to comment Share on other sites More sharing options...
athom Posted July 8, 2011 Author Share Posted July 8, 2011 If a property I'm looking at on rightmove is for sale as well as for rent, or if the rent advert is obviously a conversion from sale to rent (measurements etc) it's off the potentials list. It's just not worth it. It means estate agents hassling you for viewings or just illegally letting themselves in your home to show people around, it means a reluctant landlord who are to be avoided like the plague as they have no clue what it means to rent out a property, and it means being given your notice at some point in the future. Avoid avoid avoid. It's also quite satisfying to leave these idiots who wont lower their selling price to a sellable level out to dry when they try to 'just rent it out instead until the market recovers'. Renting is crap I the uk at the best of times, choosing a seller who thinks they know about renting is just asking for trouble. yes, i've come fully to this conclusion now even if the house is not listed both for sale and rent but was recently sale i'm writing it off. If they are renting it only until the market recovers what are they going to do next year when it looks even more precarious. At some point they're going to want out and this latest blip in the "sold for" numbers is masking real falls everywhere i look in asking prices. Trouble is i think anyone with a house to rent whether it's on a BTL IO mortgage or a full paid off inheritance is likely to try selling when prices start more obviously sliding. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.