Wednesday, May 4, 2011

Unexpected bout of bearishness from purveyor of pap

Renting property 'the most sensible option'

People may want to consider renting, rather than buying, following the comments of one expert. Renting could prove a more sensible option than buying property for many in the UK at present, if the comments of one expert are anything to go by. Tim Lambert, head of consulting at Ducalian, said this could be the best route to take due to the current economic climate. The industry figure explained that rents are likely to stay the same month-in, month-out, while mortgages have the potential to increase significantly across the next few years.

Posted by sibley's b'stard child @ 09:15 AM (1840 views)
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4 thoughts on “Unexpected bout of bearishness from purveyor of pap

  • mark wadsworth says:

    I’m surprised that estate agents are so keen to get people to buy rather than rent.

    If you are a half way decent letting agent, you can get £1,000 a year for managment, year in, year out. So over a ten year period, you make £10,000 from an average sort of house (worth say £150,000). It’s a nice steady source of income.

    If a typical selling commission is 2%, then that’s £3,000 for the same house, but how many times would you get to re-sell the same house in ten years? Plus there are massive ups and downs, incredibly busy years and then very quiet years.

    So all in all, I’d rather be a letting agent than a selling agent.

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  • the number cruncher says:

    MW. You are quite correct but that is why your a successful accountant and not an estate agent. My impression of most estate agents is that they live on commission, letting agents seem to be the looked down upon as lesser souls. Bird in the hand and all that

    My experience of letting agents seems to be very poor with most of them looking like they hate their job and desperately want to be doing something else. Most do not know the properties and cannot answer the questions I ask them. They seam to want to get rid of you after 10 minutes and show immense impatience and lack of professionalism. you get the feeling your talking to the failed selling agents who looks upon perspective tenants as scum to be exploited.

    Luckily I rent through an agency where the owner of the agency shares some mutual friends so he came and did the viewing and gave me some straight talk about the landlord and the property that was very enlightening (even told me of his criminal record – not too serious thankfully).

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  • I have to say my experience of renting has been great. The agents are muppets and don’t want to ask the landlord for anything – they definitely see the landlord as the customer and me as a pain in the backside. The landlord however is superb so I deal with him directly now and just tell the agent what we’ve agreed – the landlord sees me as the customer and has done literally everything we have asked for. The agent does absolutely nothing for their 10% or whatever it is. Having owned for almost 20 years I was a reluctant renter but I am well & truly converted – all down to the landlord though.

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  • I’ve been a tenant both through an agent and direct from the landlord, and I agree with timmy t that direct is best. In one case the agent simply acted as a referral, i.e. after he’d showed me round and got me to sign on the dotted line, the contract thereafter was with the landlord, not the agent.

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