To think rent is so bloody unfair

[Tar19891]

My rent is 800 per month. A mortgage on the same value flat would be 450 per month. Not in London obviously. It’s not fair is it?

@Tar19891

Plus the landlord is building equity. Come on, we’re all adults as you say. Just admit to profiting off the situation

What is your solution?

I’m not sure you grasp economics!

@fallfallfall

so get on the property ladder then. paying rent yet not owning anything to show for it is the major reason people buy. lots of good ideas on how to save 5K a year.

I'm embarrassed for you that you're so ignorant.

@MrsTerryPratchett - it clearly is very difficult to understand - but remember - this is a country in which many pride themselves on being mathematically and economically illiterate.

Perhaps we are the ones who should learn to empathise with them 😂

@Hospedia

It seems every other post I see on here at the minute is someone advising another to not leave their rented house and to wait for the court judgment and bailiffs to throw them out.

Because if you've been evicted, even through no fault of your own, many councils won't class you as homeless until a court order is issued therefore you won't get any help with finding another property (including accessing emergency accommodation via the council) until that point.

But you probably wouldn’t need any assistance from the council or emergency accommodation if you just got on with moving out. And I don’t actually agree with section twenty-ones and no fault evictions at all but delaying the inevitable and throwing yourself on the mercy of the local council is not gonna do you any favours whatsoever they aren’t going to help.

@QueenCamilla

And if renting really is that much cheaper and the life as a tenant that much easier... Then why all the wise rich people don't sell up and move into rented? Eh? The rich one's definitely can afford the wonderful "services of landlords".

I'm so happy I bought - I'm saving a grand a month! I'm not rich enough to rent!

And half the time it's Universal credit paying for these huge rents , so taxpayers money. going straight to the landlords pocket. It's a horrible situation. Everything is against young people getting on the property ladder unless they have rich parents ( probably owning a few rental properties ) helping them. Young people find themselves having to claim Universal credit just to get a rental, then they can't ever save for a house deposit because they are paying such high rent and then being penalised by the Uc system for any savings they do manage to save. There is no way forward for many but I guess that's the way Uc was designed so that the rich tory voters can keep snapping up the cheaper rental properties. People have no morals and cannot see the bigger picture.

Anecdotally I have just bought in the SE after a massive struggle to find anything due to lack of available property and I have found that virtually everything in my price range is ex rental. Landlords are offloading older, larger properties that won’t meet new regulations on energy efficiency. I am sure they will make money on the sales but it’s good to see rentals returning to the owner occupier pool.
I have come across so many greedy landlords though. Trying to sell whilst keeping the place rented out. The poor tenants. I get told it’s OK, once the place sells for what the landlord wants they will serve notice and I can have it in two months. Nope. Not spending money on surveys and solicitors and taking on your risk they won’t leave!

YADNU OP.
We rented a house (very dated and not great but convenient) in the same road whilst we renovated our last place.
When all cost ( including Reno) was calculated over the 12 months we were there I was £100 better off in my owned home.

@Babyroobs - excellent post. One of the few posters who can see the larger state of affairs.

@QueenCamilla

Stop going on about "all the repairs and maintenance". In the 2 years I rented, there was ONE issue with the flat that cost the landlord £200. That's all!!

The house I have now bought, will need lots of work doing to it and money spent but that's because a doer-upper is all I can afford and... I don't mind! It's mine!

Any prudent landlord puts aside a monthly amount for all maintenance and depreciation. Most months nothing needs fixing. Most years it will be peanuts. But every now and then the kitchen needs replacing, or the bathroom, or the boiler, or regulations change to mean something needs doing or the roof gets eaten by termites. It's lumpy.

And half the time it's Universal credit paying for these huge rents , so taxpayers money. going straight to the landlords pocket. It's a horrible situation. Everything is against young people getting on the property ladder unless they have rich parents ( probably owning a few rental properties ) helping them. Young people find themselves having to claim Universal credit just to get a rental, then they can't ever save for a house deposit because they are paying such high rent and then being penalised by the Uc system for any savings they do manage to save. There is no way forward for many but I guess that's the way Uc was designed so that the rich tory voters can keep snapping up the cheaper rental properties. People have no morals and cannot see the bigger picture.

Yup it’s really as simple as that

Stop going on about "all the repairs and maintenance". In the 2 years I rented, there was ONE issue with the flat that cost the landlord £200. That's all!!

Did you pay the ground rent on the flat and the charge for maintenance of communal areas yourself? That’s usually included in the rent in flats, then there’s the gas safety certificate. You’re happy to live without some things now in a house that you own because you own it, but when you pay rent, you’re paying not to have to live without those things.

There are still basic costs for landlords to pay even when nothing goes wrong in the property, and rightly, those costs are passed onto the tenants because it’s them who benefits from them.

The idea that rent is just not fair because it costs more than a mortgage is ridiculous because they are two completely different things.

But you probably wouldn’t need any assistance from the council or emergency accommodation if you just got on with moving out. And I don’t actually agree with section twenty-ones and no fault evictions at all but delaying the inevitable and throwing yourself on the mercy of the local council is not gonna do you any favours whatsoever they aren’t going to help.

If there are no suitable properties available then how do you just get on with moving out? If there are no properties within your budget where do you go? If you don't have a deposit, your existing deposit is tied up in that property, and you don't have anywhere to beg, steal, or borrow a deposit where do you go? If you fail the affordability checks for another property where do you go? Seeking support from the local council is the only resort for many people.

True @SwanBuster

It makes me angry because the system is so clearly weighted but everywhere there are turkeys voting for Christmas.

I will try to empatise. OOOMMMMMMMMMMM

It’s literally the taxpayers money that goes towards so many private rented properties yet no one seems to have a problem with that? How wrong is that

@babywalker56

For goodness sake there is there’s an app go and find it, google it, take some responsibility for making your own life better.

*@Nothappyatwork who are you actually talking too with that disgusting attitude? Do you think I’m your child for you to be talking to me like a piece of shit under your shoe? I was simply agreeing with another poster and here comes you all high and mighty thinking you can talk down to me. You seem like a real btch.

What the hell does an app have to do with not being able to save for a deposit as your rent’s too high? Idiot don’t even expect a response from me

She’s a complete fantasist @babywalker56. Don’t bother with her.

@Tutt

YADNU OP. We rented a house (very dated and not great but convenient) in the same road whilst we renovated our last place. When all cost ( including Reno) was calculated over the 12 months we were there I was £100 better off in my owned home.

Did the owned house appreciate or depreciate?

@Comedycook

If you think it's so unfair, buy instead

Gosh why doesn't everyone just think of that, eh? 🙄

@Blossomtoes the absolute cheek?! I try to not let people get under my skin on here but how can you be rude to a stranger for no reason at all. Very bizzare!

@babywalker56

It’s literally the taxpayers money that goes towards so many private rented properties yet no one seems to have a problem with that? How wrong is that

You mean housing benefit (or the housing costs element of universal credit)? It's no more wrong than benefits being used to buy food and line the pockets of those evil capitalists at Sainsburys.

I'll probably be hated for this but if a landlord is in the 40% tax bracket from their day job, from the £800 they have to pay £320 in tax. So, taking that into account, it's not a massive profit even on £800.

Having said that, £800 for a flat valued at £120k is crazy.

@Blossomtoes i see the professional poor have turned up again. Turnips for tea again was it ?

@Member589500

Anecdotally I have just bought in the SE after a massive struggle to find anything due to lack of available property and I have found that virtually everything in my price range is ex rental. Landlords are offloading older, larger properties that won’t meet new regulations on energy efficiency. I am sure they will make money on the sales but it’s good to see rentals returning to the owner occupier pool. I have come across so many greedy landlords though. Trying to sell whilst keeping the place rented out. The poor tenants. I get told it’s OK, once the place sells for what the landlord wants they will serve notice and I can have it in two months. Nope. Not spending money on surveys and solicitors and taking on your risk they won’t leave!

Yes, I have seen many larger properties down here being sold (Surrey) with horrid EPCs (E or worse).

Also thought it was related to what you mentioned. I believe it is a minimum of C by 2025 (not 100% sure on this though for residential).

£235 a month is our mortgage in NW England... Just told my partner how much your rent is and we're absolutely gobsmacked. I know different areas have different rates but... Wow. We've been here around 7 years and any money we've put in has been purely aesthetic. Fingers crossed I haven't just jinxed the boiler but still... And the house has gone up almost £30k in value. Sorry if all this is irrelevant op but... I'm absolutely taken aback by how much your rent is! How are you meant to live paying out that much 😳

@LardyDee not to mention keeping Philip morris’s coffers topped up !