Jump to content
House Price Crash Forum
Sign in to follow this  
Guest prudence

My Rent Is Being Reduced

Recommended Posts

Guest prudence

I started renting in 2003 after str.....ing. My first flat in 2003 in a very good area of SW London was £275 a week. A year ago I had to move as my landlord wanted to sell. I rented a better flat in the same area. It was advertised at £330 a week and I negoitated down to £300. At the time there was not much on the market. My lease is due for renewal and I now find that there are many, many more flats being advertised for rent in the area and in my block a flat very similar to mine is now being advertised for £275 a week. The landlord has therefore agreed to cut my rent to that figure. This means that in my block advertised rents have in the space of 12 months fallen from £330 a week to £275 a week. I think the flat would be advertised for sale (if it were to be put on the market) for between £320 and £350k. Probably even more with Foxtons. So rents in a very good area of SW London are falling, there are far more vacant flats being advertised for rent then there was a year ago and yields are lousy.....

Share this post


Link to post
Share on other sites

What area are you talking?

I live in SW11, renting a 2 bed garden flat after STR in 2004.

Rent is £290 a week, the property is probably valued at about £280k, so a landlord yield of about 5.4%, far too high for my liking

I'm considering moving this year, just for a change of scenery, but I'd also like to rent from a landlord who is getting a very poor yield, yet bought long ago enough not to care.

Probably looking at SW11,SW19, SW15,TW9 etc...

I'm keeping away from newbie BTL muppets ,I don't want to get caught in someone else's financial mistakes.

Any suggestions?

Edited by BandWagon

Share this post


Link to post
Share on other sites
Guest prudence

What area are you talking?

I live in SW11, renting a 2 bed garden flat after STR in 2004.

Rent is £290 a week, the property is probably valued at about ?280k, so a landlord yield of about 5.4%, far too high for my liking

I'm considering moving this year, just for a change of scenery, but I'd also like to rent from a landlord who is getting a very poor yield, yet bought long ago enough not to care.

Probably looking at SW11,SW19, SW15,TW9 etc...

I'm keeping away from newbie BTL muppets ,I don't want to get caught in someone else's financial mistakes.

Any suggestions?

I don't want to be absolutely precise but its one of the postcodes you mentioned. If I could find out how to send you a personl message I would provide more details.

Share this post


Link to post
Share on other sites

I don't want to be absolutely precise but its one of the postcodes you mentioned. If I could find out how to send you a personl message I would provide more details.

Just click the PM button at the bottom of a post...

Share this post


Link to post
Share on other sites
Guest prudence

I don't want to be absolutely precise but its one of the postcodes you mentioned. If I could find out how to send you a personl message I would provide more details.

Also this is a very professional set-up, very different to the btl muppet scenario which you commented on

hope you got my message

Share this post


Link to post
Share on other sites

It's the same on the London fringe. We got our current place when there was a fair bit around to let, but now there seems to be loads. I'm now seeing better places around for £50 a month less on right move, and walk past places which have been for let (or for sale or to let) for a while.

Come the summer, I'll try to get a discount on this place or else I'll move.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 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%



×
×
  • Create New...

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.