To think this can't be right, and if it is it makes no sense? (rent prices vs. buying prices)

[PaperdollCartoon]

So we are looking to move house. We rent. We want a house on a particular estate and luckily can wait for the right one to come up as we don't have to leave our current house in any hurry. The houses are all basically the same house, two roads of terraces, some have a downstairs loo, other don't. A few have conservatories added, some have the wall between the kitchen and dining room knocked through. But essentially all the same apart from decor.

I've been looking at the prices they're being rented out as, and have realised lovely ones with brand new high spec kitchens, nice wood floors, nice bathrooms etc, are going for the exact same price as ones with not very nice old kitchens, garish carpet and in need of new windows.

I've mentioned to a few people, included estate agents, that it doesn't seem to make sense for the much nicer insides to be the same price as the not so nice ones, and have been told interiors don't matter as much with rentals as they do when buying, and don't affect the pricing the same way.

Does this make sense to others? Have I been wrongly informed? If you're buying you have more control over changing an unattractive flooring or doing up a kitchen than you do with a rental. I wouldn't mind paying a bit more rent for a house with a nicer interior or better kitchen. I'm sure others feel the same. Am I wrong? Totally happy to be told I'm unreasonable if I've missed some vital part of the equation.

I think it's more that tenants have less choice so landlords can get away with it.

But ca't fault your logic.

Sorry no hep whatsoever but It doesn't make much sense to me either.

Renting has always been like that.

A three bed house is a three bed house, no matter what condition it's in.

If you watch Homes Under The Hammer or similar they often say that cheap furnishings/carpets will 'do for renters'. There's nothing to gain from putting nice stuff in, you can charge the same price.

Also, as soon as someone puts a house on the market that's gorgeous, at a higher price than norm... all the LLs of the crappy houses bump up their prices because that's the "going rate" now

Haba that would make sense - except that the most beautiful one that's been up in the last couple of month (amazing kitchen, knocked through kitchen wall, lovely floors, and the 'nicer' part of road, just perfect - I'd have nabbed it if they allowed pets ) is up for less than another than another one went for this month.

Just why?

• than another one that isn't so nice

Depends how lazy the estate agents are. They’ll have a stock price per sq ft rates and clearly they aren’t taking 10mins to think beyond that.

We’re currently on our fifth rental in London and everytime we look it’s unbelievable how different the quality is at the same price. I don’t understand who it is that’s renting the rubbish.

Haba that would make sense - except that the most beautiful one that's been up in the last couple of month (amazing kitchen, knocked through kitchen wall, lovely floors, and the 'nicer' part of road, just perfect - I'd have nabbed it if they allowed pets sad ) is up for less than another than another one went for this month.

Just why?

Maybe the nicer one has stricter conditions attached to it that the other one? You said no pets but maybe no children, or working only with no HB or a much larger deposit?

TheLastSoala I think the market moves so quickly in London people are afraid to be left with nothing to just take what comes. In this case the estate is the cheapest place to live that’s just in the catchment for a very desirable school, so I think the location is likely to beat the interior.

Beerwench maybe, but I’m sure they could still charge more for it? I did try to negotiate a higher rent in exchange for allowing the cats but it was still a no. Even with stricter conditions, I’m sure they could still charge more. Not that I really want the rents in the area pushed up. Just doesn’t seem logical.

As a LL I've followed the principle that you get what you put out. Rent a crappy looking home and you will get crappy tenants. It's not actually that expensive to keep a home in good order. It takes a good bit of time and effort.

Whilst we are abroad, I rent out our house. What is in there is what I will be returning to in a couple of years time. There is nothing in there that I would not live with myself.

I think the nicer ones get snapped up quicker for rentals, and you may have a choice of tenant so you might get into a bidding type situation.

The less nice will attract fewer applicants and those that are there might knock the rent down slightly.

I've rented both types the less nice have been better in terms of letting us decorate, put pictures up but they've always sold when house prices have gone up.

Beerwench maybe, but I’m sure they could still charge more for it? I did try to negotiate a higher rent in exchange for allowing the cats but it was still a no. Even with stricter conditions, I’m sure they could still charge more. Not that I really want the rents in the area pushed up. Just doesn’t seem logical.

Paper - Yes it doesn't seem very logical, if I had the outright choice between 2 properties with same rents then obviously I'd take the nicer one as I am sure most would. Though that said there is one LL in my area that most people avoid for various reasons. The tenants he does get don't make great neighbours to be honest, but the houses are awful inside and out, and cheap. But maybe the LL of the place has a reputation? I see what you're saying that it doesn't make sense for the LL not to charge higher rent or for renters to not want the nicer property. I don't understand the EA saying that interiors aren't important and don't attract a higher rent either.

NothingRhymes you may well be right. I tried to offer more for the nice one, but would definitely try to get the price down on the less nice one.
I’m probably spoilt in that we currently have a lovely house, with a lovely landlady that lets us decorate etc. But we want to be in a different location closer to family, hence the move. I wish I could pick this house up and put it there. The rent is actually more here, but for logical reasons.

As a LL I have found that the estate agents don't care much about the interior when they price a property. However it's only good business sense to make your property as nice as possible as you want nice tenants who will stay for the long term. I'm sure there are some landlords who don't give a toss and get away with it.