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Kite Flying Rental Asking Prices

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Do you notice this around your way, private rental houses come on the market at stupidly high rental costs, and then the voids stack up?

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I've noticed two come on in my street for much more than we currently pay. I was initially worried that it might cause my LL to raise our rent, but neither has been let so far. I will wait and see how long it takes them to be reduced, can't see them renting at those prices (hopefully).

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people fancy playing at BTL, they sit down and do their sums work out fantastical yields, decide almost any price is worth paying as the yields are so good.

Buy overpriced property, advertise as to let, eat endless voids, drop rent, subsidise tenants.

Eventually sell house at large loss on top of having shelled out for a new roof and boiler.

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How will you know what they eventually get?

I haggled my present place down from £795 to £700 per month, and told the agent where to go when they tried to suggest that only applied for the first six months. But you wouldn't find that in information available to the public.

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Yeah, I noticed that too. Last summer we had plenty of 2-beds to choose from in our area (North London) at 1300-1400, some even below 1200, ended up with 1350. Today? A grand total of 1 offer, with everything else flying above 1500. We wanted to move after our recent failed purchase, but I think we'll stay put for the time being.

The flat we're currently renting was originally advertised at 1450, but the landlord agreed to 100 less at the first time of asking (which makes me think we should've started as low as 1100, but we were new to the market and trusted our LA, who - obviously - didn't like the idea). I guess it had a lot to do with the property being vacant at the time. It's incredible what a few weeks' void can do.

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How will you know what they eventually get?

I haggled my present place down from £795 to £700 per month, and told the agent where to go when they tried to suggest that only applied for the first six months. But you wouldn't find that in information available to the public.

As far as I can tell they always go for lower, except the ones that were sensibly priced in the first place.

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If you build it,they will come.

http://www.rightmove.co.uk/property-to-rent/property-38845455.html

But the real off the scale delusion comes in city centre flats in Leicester.This one bedder has seen the price just cut from £900 pcm to £650pcm

http://www.rightmove.co.uk/property-to-rent/property-38322666.html

Even at £450pcm this one has been empty since Jan.

http://www.rightmove.co.uk/property-to-rent/Leicestershire/flats.html?index=450

But this is probably the finest kite flyer of the lot.

£1000 pcm gets you a two bedder on the inner ring road over looking the Train Station

http://www.rightmove.co.uk/property-to-rent/property-38785371.html

I hadn't realised how dreamy Leicester LL's were until this thread inspired me to search flat prices.

The crash is going to hurt.

Or how about this 2 bed flat in Leicester for £1250 pcm

http://www.rightmove.co.uk/property-to-rent/property-41132511.html

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Yes, I am noticing new properties coming on to the market in Milton Keynes at stupid prices. New builds in particular. Lots of reductions AND they seem to be taking their time with the reductions which means more money lost.

Also noticing houses in the worst suburbs coming on at ridiculous prices.

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Also noticing houses in the worst suburbs coming on at ridiculous prices.

That's something I've seen too.

Prices to buy: big differences between desirable and undesirable areas.

Rentals: the worst areas are the same price as the mid-grade areas, if not quite super-prime.

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We are moving out of a rundown 3 bed semi in a reasonable area in Leeds. It has been advertised at £900 a month, and the first people to see it wanted it.

It is all becoming rather depressing, though I am past the point of no return now in regards to ever buying. I will never own a home now through purchase unless there is a significant crash.

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We are moving out of a rundown 3 bed semi in a reasonable area in Leeds. It has been advertised at £900 a month, and the first people to see it wanted it.

It is all becoming rather depressing, though I am past the point of no return now in regards to ever buying. I will never own a home now through purchase unless there is a significant crash.

I recently moved out of a rundown 2 bed semi on Bramley kirkstall border so a middling part of town.

Ll put it up for 700 a month (way more than we paid) and got lookers but no takers before dropping it way back down again. In your case ll could have just got mug punters, I have seen edjits paying silly rental money in the past with no haggling or shopping around. Still a fair point you've made.

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We are moving out of a rundown 3 bed semi in a reasonable area in Leeds. It has been advertised at £900 a month, and the first people to see it wanted it.

It is all becoming rather depressing, though I am past the point of no return now in regards to ever buying. I will never own a home now through purchase unless there is a significant crash.

The thing is they may say they want it, they may even pay the £900 for a month or two....but who is to say they will care and cough up for the foreseeable future...through their fault or no fault of their own.....very few jobs for life, far more short-term contract work and zero/ variable work contracts...not to mention growing addictions and mental health problems.....things change, times are changing. ;)

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The thing is they may say they want it, they may even pay the £900 for a month or two....but who is to say they will care and cough up for the foreseeable future...through their fault or no fault of their own.....very few jobs for life, far more short-term contract work and zero/ variable work contracts...not to mention growing addictions and mental health problems.....things change, times are changing. ;)

I do not feel the breaking point will come from private renters, although they are being stretched to the limits, it will come from housing benefit recipients.

Seriously how long can the government keep paying rents for the unemployed that someone earning a salary could not afford?

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I do not feel the breaking point will come from private renters, although they are being stretched to the limits, it will come from housing benefit recipients.

Seriously how long can the government keep paying rents for the unemployed that someone earning a salary could not afford?

Most private landlords avoid housing benefit recipients unless they have some assurances from the council that the rent will be paid.....cut backs will only mean fewer pounds available to line landlords pockets.......a credit worthy, working person who could afford £1000 a month in rent, why would they rent....they would borrow and/or get help to buy or even share buy....plenty itching to lend them the money....sure a few might rent for a short time, their employer pays the rent, others only whilst they are looking to buy....better position, when have nothing to sell.

Edited by winkie

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I'm looking for a two bed flat on Leeds. Always rented privately but will be going through agents this time, unfortunately. I don't have a wealth of experience for comparison but I have been noticing a lot of reductions down from kite flying to still over priced. Taking joy seeing ones stuck on the market but not at the prospect of taking the plunge soon. It's heartening to know that haggling works.

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I'm looking for a two bed flat on Leeds. Always rented privately but will be going through agents this time, unfortunately. I don't have a wealth of experience for comparison but I have been noticing a lot of reductions down from kite flying to still over priced. Taking joy seeing ones stuck on the market but not at the prospect of taking the plunge soon. It's heartening to know that haggling works.

I'll PM you and offer benefits of my experience if you want.?

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Jesus, what a load of crap!

Depressed me just viewing those photos, let alone living there.

Yeah, what is it with building houses these days that front right onto the side of a garage? :blink:

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Here in Aberdeen, I am starting to see a lot of what I call "jiggery pokery" with rental prices.

10 months at well above market rate followed by 2 months rent free.

Option of "full service" (cleaner and utilities paid)

My own landlord offered to put in a brand new kitchen instead of reducing my rent. (I politely declined and opted to pay less.)

Lots of flats with fading "To Let" signs in their windows all over town sitting empty month after month.

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Seriously how long can the government keep paying rents for the unemployed that someone earning a salary could not afford?

I don't know. But at least that's been much-reduced over the years, even since Mrs T got lots of flak from the champagne socialists for slashing the LHA rate[1] for a single person to 100% of my pre-tax graduate salary.

[1] It wasn't called that at the time, but it served the same purpose.

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