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Guest Bart of Darkness

A Quick Poll On Private Renting

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Guest Bart of Darkness

As someone who has only ever rented from a LA, I'm interested in people's general level of satisfaction with private renting. People are most likely to post in this forum when they have bad experiences, so it may give an unbalanced view of the whole private rental market.

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As someone who has only ever rented from a LA, I'm interested in people's general level of satisfaction with private renting. People are most likely to post in this forum when they have bad experiences, so it may give an unbalanced view of the whole private rental market.

Only been under one landlord, so my experience is pretty limited. She owns multiple properties and been in the industry for a while, and I deal with a PA rather than the landlady herself. I feel quite secure and at no risk of being evicted, and they are quite responsive to any requests.

Soon after I moved in, an iron was missing despite being listed in the inventory. A new one was provided upon request. The glazing on the French doors was somehow slightly sandblasted, and they had it replaced even though I hadn't noticed it myself (they spotted it during the property check). Also experienced some strong drafts through these doors, and draft proofing was installed soon after. Although a request for a new living room carpet was rejected :lol:

Had trouble with the alarm lately, so will be giving them a call on Tuesday. I expect them to call out their electrician and get it fixed ASAP at no cost or inconvenience to me.

Edited by Turnbull2000

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I voted 'generally unsatisfactory', but have not rented for nearly 3 years.

The general trend seems to be that renting privately is improving. I hope so, as I'm planning to STR soon.

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Only had one really unsatisfactory LL in 25 years and he was not paying the mortgage.

Generally, I think the best thing to do is to take great care in picking the LL and especially their creditworthiness, and motives for doing BTL before choosing the property. In my experience, pick a good LL with a property you really like in very good condition and then agree to pay the asking price providing it matches the asking price of other similar but slightly less good properties in the same location. My view is that if you pick the very best property of a given size in a given location with a good creditworthy LL then you should be willing to pay asking price. I never try to haggle the price down of the best property in the street and never pick a property that is not the best in the given location and size bracket I am looking for.

I know many people on here regard it as an affront to decency pay the asking price on a rental property but in my view trying to screw the last penny out of a LL is likely to end in tears because you are likely only to succeed with a LL who will either try to get the money back somehow (e.g witholding deposit) or who is desperate for the money (not credit worthy).

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I have to say I have always found renting very, very satisfactory.

I have owned a few times but nothing in my opinion beats renting at the moment. I am moving up the ladder and living in houses and apartments I could never afford to buy. Having rented more than 15 properties I have never been in a position where the Landlord has forced me to leave.

So why is renting so good. Well I have just moved in to a house which according to the LR sold for £495k in February 2007. It is in a great location and for this I negotiated a rent of £1075pcm. It is around 10 years old so is at that point were some things have started to go a bit wrong. Within the first week I had the Landlord replace the Fridge/Freezer, Washing Machine and Dishwasher. A week later the boiler broke. As a tenant I immediately phoned the emergency property maintenance number and explained that without a boiler I wouldn't be paying rent. The next day we had a brand new combi-boiler fitted.

I am having a new chubb lock fitted to the door which I dont have to pay for and he has agreed to replace the garden table and chairs which have rotted. The problem the LL has is that it was rented with garden furniture visible so therefore must replace or repair any such furniture.

So it is basically like having a rich uncle who gives you £900 towards your mortgage every month, buys you new appliances and bails you out should you have any problems with your house.

Renting is a real stress free way of living. For example should I suddenly get into a problem with money I can just go and rent something cheaper like this 3 bed detached cottage in Ardingly. http://www.rightmove.co.uk/viewdetails-752...6&tr_t=rent . This is another "rich uncle" because you will get it for £775 pcm may be even £750. According to the LR these houses sell for £320k+ so you are making almost £1000 a month in Landlord Handouts. Lovely job. With the return from my invested deposit money making around £820 a month (after tax) that would make an annual saving of say about £23,000 if you include repair and maintenance costs. So that equals HPI of around 7.5% which is guaranteed as long as this muppet continues to rent to you at this level.

Why would you want to buy? There are hundreds of these "rich uncles" just waiting for you now around the UK.

If I had a house now with a fair wedge of equity in it I would sell immediately, place the money in a high interest account and find myself a rich uncle ASAP.

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Renting for almost a decade, variety of landlord/agent arrangements, generally very satisfactory, but then I've always had realistic expectations.

The financial/equity/asset acquisition pros and cons of renting versus buying are dealt with in great depth on other threads, so leaving those aside:

Major pros: Having difficulty with your neighbours e.g. noise, want to try living somewhere new, work takes you elsewhere, just move easily.

Minor pros: Something goes wrong, agent gets it fixed very quickly.

Minor cons: Can't really have pets. 4-monthly inspections (good excuse to clean very thoroughly though). Worry that the landlord might sell or try to take the pee regarding a rent increase when it comes to contract renewal time. Can't easily make big alterations (although we've always been able to repaint, but in similar colours). Easily mitigated by choosing a place that you like anyway.

Other than that, I have to say that it never bothers me day-day the fact that I rent and don't own. I treat the place as if it were my own, but then the way I choose to treat a place happens to be in keeping with the usual T&Cs on a contract anyway.

So, when it comes down to it, I'm not prepared to commit myself to a life of financial servitude by taking on a gigantic mortgage at the top of the market to support inflated prices, just to have some warm fuzzy feeling that I "own" a roof over my head.

If the AST were changed to give more security of tenure and right to have pets, things would be peachy.

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Guest Cletus VanDamme
Renting is a real stress free way of living. For example should I suddenly get into a problem with money I can just go and rent something cheaper like this 3 bed detached cottage in Ardingly. http://www.rightmove.co.uk/viewdetails-752...6&tr_t=rent . This is another "rich uncle" because you will get it for £775 pcm may be even £750. According to the LR these houses sell for £320k+ so you are making almost £1000 a month in Landlord Handouts. Lovely job.

All I can say is wow. I'm quite gobsmacked at how much you can get for your money renting outside London. I have to say that, at those prices, it makes absolutely no sense to buy right now.

Here's what you get for 850 per month round my way

http://www.rightmove.co.uk/viewdetails-139...4&tr_t=rent

So as I'm staying put in my area, you can see why it still makes no sense for me to STR right now.

But if I was moving outside London, and could find a place like the one you posted, at 850 pm, I would rent.

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Guest Cletus VanDamme
As someone who has only ever rented from a LA, I'm interested in people's general level of satisfaction with private renting. People are most likely to post in this forum when they have bad experiences, so it may give an unbalanced view of the whole private rental market.

I rented throughout the 90s in London and found it tedious being continually moved on as landlords decided to sell or put up the rent or decided to let the place go to rack and ruin, or just gave you little privacy.

But see my response to adibrown's post - perhaps I could be convinced to go back to renting if there was the right place at the right price.

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Guest Bart of Darkness

Thanks for all the replies, it seems that there's a generally positive sentiment being expressed (when I started this thread I thought it might be a bit more polarised).

All I can say is wow. I'm quite gobsmacked at how much you can get for your money renting outside London.

I've seen detached houses (in genuinely nice areas) on offer for £550 PCM.

For £795 you could get this in Totley, Sheffield (one of the posh bits):

Link

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If you could stretch to afford it you could really live a luxurious lifestyle in Hailsham for the same cost as buying a 2 bedroom flat in Hove for £340k.

OK so £2000pcm seems a lot but then this property has just sold for £650k. I reckon you could put an offer in for £1800pcm.

http://www.rightmove.co.uk/viewdetails-147...1&tr_t=rent

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Guest Bart of Darkness

Wow, that is a hell of a place adibrown and £2000 (although a lot of money per month) would seem very reasonable indeed considering the kind of place you'd get.

a luxurious lifestyle in Hailsham [In a sought-after secure gated location set back from a private road, an imposing five bedroom house offering generously sized family accommodation] for the same cost as buying a 2 bedroom flat in Hove for £340k.

Says it all really. :)

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Wow, that is a hell of a place adibrown and £2000 (although a lot of money per month) would seem very reasonable indeed considering the kind of place you'd get.

Says it all really. :)

Indeed although I can hear my dads voice in my head saying "No thanks, a place like that would cost a fortune to heat". Typical Northern Common Sense.

This place is a few miles from Polegate which runs an hourly service to London. If I was living in some cramped 2 bed flat in Hammersmith paying the same money I would be severely tempted. OK so it costs £4k a year to commute but if you are earning £50k+ you should be able to absorb that cost for the chance of a luxurious new life in your country mansion.

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Guest Bart of Darkness
Indeed although I can hear my dads voice in my head saying "No thanks, a place like that would cost a fortune to heat". Typical Northern Common Sense.

:) Spot on, although my first thought was how much time would it need to keep a place like that cleaned, dusted and hoovered.

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Guest Cletus VanDamme
If you could stretch to afford it you could really live a luxurious lifestyle in Hailsham for the same cost as buying a 2 bedroom flat in Hove for £340k.

OK so £2000pcm seems a lot but then this property has just sold for £650k. I reckon you could put an offer in for £1800pcm.

http://www.rightmove.co.uk/viewdetails-147...1&tr_t=rent

I think this might be my road to Damascus moment ...

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Indeed although I can hear my dads voice in my head saying "No thanks, a place like that would cost a fortune to heat". Typical Northern Common Sense.

This place is a few miles from Polegate which runs an hourly service to London. If I was living in some cramped 2 bed flat in Hammersmith paying the same money I would be severely tempted. OK so it costs £4k a year to commute but if you are earning £50k+ you should be able to absorb that cost for the chance of a luxurious new life in your country mansion.

You need to be earning significantly more than £50k to afford that kind of lifestyle. £50k gross is only about £35k net. Take out the rent at £2k per month and £4k travel would leave you with only £7k. You need more like £70k gross.

Thats why the rental market for this type of property is limited. Someone who can afford £2k in rent per month can clearly also afford a substantial mortgage (about £350k on repayment). If you need a property that size, you probably have kids and so security of tenure is probably more important than having the biggest, flashest house in the area.

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Guest Cletus VanDamme
You need to be earning significantly more than £50k to afford that kind of lifestyle. £50k gross is only about £35k net. Take out the rent at £2k per month and £4k travel would leave you with only £7k. You need more like £70k gross.

Thats why the rental market for this type of property is limited. Someone who can afford £2k in rent per month can clearly also afford a substantial mortgage (about £350k on repayment). If you need a property that size, you probably have kids and so security of tenure is probably more important than having the biggest, flashest house in the area.

Get a group of 4 friends each paying 500 per month and it would be a great place to spend a year or two.

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Guest Cletus VanDamme
I hate saying it but that doesn't look bad value. What is the area like? How much would it cost to buy?

I go past there quite often at different times of day and night, and it's pretty quiet. There's a cut through to the train station and you get the odd group of youths walking through the development on their way to the sport and social club down the road, but they're pretty harmless.

I think in terms of purchase price, last year they were around 200K, but seems to have gone up recently, e.g.

http://www.rightmove.co.uk/viewdetails-738...=3&tr_t=buy

Well overpriced at 232K.

So the rental price as opposed to buying compares quite well right now. You'd need to pick one with care though, as some are closer to the railway line than others.

Trains to Moorgate take 30 mins. 25 mins to Kings X at weekends. Once Eurostar runs from Kings X at the end of the year, you could do Paris door to door in under 3 hours!

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Good thread.

I thought I'd add my experiences to this. We rent a 3 bed house for 700pcm. Similar houses in the street go for £350k+ our rent hasn't increased in 4 years so effectively our rent goes down by the rate of inflation each year.

The landlady has owned the property for years and there is no mortgage on it. It's a Victorian property so there are always things to do to it. These are some of the things that have been done since we moved in.

External doors and windows repainted

Wooden floors treated

Roof on extension replaced (after leak)

Bathroom updated

Boiler replaced

Roof guttering replaced

Washing machine replaced

All fairly standard stuff for a property of this age. The analogy of a rich uncle (or aunt in this case) is very pertinent. We save over £1000 per month by renting vs buying a similar property not including maintenance. I view this as a way of sidestepping the great generational robbery. If house prices crash I'll pick up a cheap house with all of my savings, if not, I'll have a nice fat pension (rather than contributing to someone else's through buying their overpriced shoebox)

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I've been renting the same 2 bedroom semi in Guildford for the past 6 years, at 750 pcm (no change in that 6 years). The landlady bought in 2001 at 173k. Her agent is a bit of a twot, but she's a nice enough lady. I've got no problems with renting when other houses in the road are now going for 280 on average. Other rents in the road are in the 900-1000 range.

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Missus and I rent a 3BR house in east London for £240 each incl CT a month. It's tatty, supposed to be a HMO and slightly shambolic - but has a garden and is overlooking a park and the landlord doesn't care if we dig up the garden to grow veggies. The buying price of a similar place is around £250K+. No change in rent for close on 4 years now.

Interest on deposit pays one of our rents each month.

Edited by greencat

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Missus and I rent a 3BR house in east London for £240 each incl CT a month. It's tatty, supposed to be a HMO and slightly shambolic - but has a garden and is overlooking a park and the landlord doesn't care if we dig up the garden to grow veggies. The buying price of a similar place is around £250K+. No change in rent for close on 4 years now.

Interest on deposit pays one of our rents each month.

I doubt the place is worth 250 k plus in the state it is in. If you are paying 240 a month including council tax then you must be paying around 300 pounds a month rent not nicluding council tax. I cannot think of anywhere in London where you could even rent a studio for this cheap. Are you renting the cruddiest property in the worst part of London, is the landlord family or friend or do they just own the property outright and not give a crap about it?

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Me and the GF are renting a nice 2 bedroom Semi in Appleton, which is south of Warrington and a very nice place. Unfurnished for just £575 a month. Managed to negotiate 2 year contract with no increases. I couldn't even begin to afford the place if I wanted to buy it.

Since we moved in I feel no stress. The Landlord/Landlady are really nice and I feel stress free. 5 miles to my office so Im saving loads of cash in petrol. Buying at the moment is just stupid.

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I could also detail the renting of my student days. I had one dodgy landlord in 4 years. Apart from that it was fine.

I miss paying £130/month for a big Leicester city center flat :)

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  • 224 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% +
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      • Even
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      • up 5%



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