Page 4 | Can I make myself more desirable to landlords?

Hulke · 2022-12-15T13:43:32+00:00

I've been viewing houses recently but seem to be having no luck. I'm moving because landlord is putting the rent up (I don't mention this). I seem to view houses but don't get offered them, they go to someone else, I suspect because I'm a single mother, and others earn more than me (I'm on 34.6k a year so not a low wage but not as much as a couple would ordinarily earn). Is there anything I can say or do to make myself seem more desirable to a landlord? I'm looking for long term as have applied to schools in the area so this might help. But keep getting knocked back. I have good credit and references, always payed rent on time etc. Any advice?

orchid220 · 17/12/2022 19:54

Aintnosupermum · 17/12/2022 17:51

You are missing the point that it’s not about making profit but the amount of regulation. Lower regulation means less time spent managing the property, doing tasks which ultimately tenants don’t derive much value from.

Yield on my rentals is a steady 5%. It’s not a huge return. Most landlords make about this, sometimes 7-9% if they do more of the work themselves. Take a look at yields of investments and it’s an average return at best.

I think 5-9% is a pretty good return. Are you suggesting it should be higher so that there are more landlords and fewer owner occupiers?

Cassillero · 17/12/2022 20:12

Bubblesandsqueak1 · 15/12/2022 16:49

I have been house hunting for 19 months its hell my landlord is putting the rent up and I cant afford it long term I am employed self employed 1 child but all the homes we have put in for end up rented to a 2 income family I am screwed basically they all say income needs to be x4 the rent amount used to be x2.5

That's crazy! Surely people earning that multiple will buy?

Aintnosupermum · 17/12/2022 20:22

5-9% is not a great return when you look at the work that goes into earning a 7-9% return. 5% return is what any stable growth company pays dividend wise. You then have capital growth.

I think a ‘strong’ rental market is a good thing. People do need to rent and the more supply the more power tenants have. Right now there is a shortage and good people, who need to rent, like the OP, are going to have a hard time. Not everyone can afford to buy a home and it’s better for them to rent. Somehow we have this notion that it’s always better to own. That isn’t always true. I’m currently renting because to own would cost me so much more. I own property in other areas. I love that being new to an area I have a pool, dog park, gym and they take care of all the maintenance. The icing on the cake is I pay a lot less to rent than to own.

Happyher · 17/12/2022 20:38

Have you checked your credit score recently? There may be something on there that you’re not aware of that’s a red flag. You can do it for free via money saving expert site

orchid220 · 18/12/2022 01:15

Aintnosupermum · 17/12/2022 20:22

5-9% is not a great return when you look at the work that goes into earning a 7-9% return. 5% return is what any stable growth company pays dividend wise. You then have capital growth.

I think a ‘strong’ rental market is a good thing. People do need to rent and the more supply the more power tenants have. Right now there is a shortage and good people, who need to rent, like the OP, are going to have a hard time. Not everyone can afford to buy a home and it’s better for them to rent. Somehow we have this notion that it’s always better to own. That isn’t always true. I’m currently renting because to own would cost me so much more. I own property in other areas. I love that being new to an area I have a pool, dog park, gym and they take care of all the maintenance. The icing on the cake is I pay a lot less to rent than to own.

5-9% is not a great return when you look at the work that goes into earning a 7-9% return. 5% return is what any stable growth company pays dividend wise. You then have capital growth.

The 5-9% doesn't take into account the increase in value of the property does it though?

I think a ‘strong’ rental market is a good thing. People do need to rent and the more supply the more power tenants have. Right now there is a shortage and good people, who need to rent, like the OP, are going to have a hard time. Not everyone can afford to buy a home and it’s better for them to rent.

It depends on what you mean by a "strong" rental market. If you mean that landlords are getting a high yield that means rental prices are high. That's not a good thing for tenants. Part of the reason that people can't afford to buy though is because over the years properties have been bought as an investment by buy to let landlords rather than somewhere to live. This has contributed to house price rises in some areas over the years.

Somehow we have this notion that it’s always better to own. That isn’t always true. I’m currently renting because to own would cost me so much more. I own property in other areas. I love that being new to an area I have a pool, dog park, gym and they take care of all the maintenance. The icing on the cake is I pay a lot less to rent than to own.

I bet you are only planning to rent short term in that area. You wouldn't be paying a lot less to rent than to own in the long term as I'm sure you realise- that's why you own property elsewhere. If you own the property your mortgage would stay the same over the years and you would eventually pay it off. If you rent it would increase every year and never be paid off.

StillWaters78 · 29/10/2023 10:18

I found it very difficult five years ago, even wrote cover letters. Nothing worked. My sister in law (single mum of 4) was homeless for 8 months this year before finding a property. She said she was the first to apply which is what some people say is all it's about.

BHRK · 29/10/2023 10:22

I just want to say how sorry I am you’re going through this. The rental market is screwed. You and your son sound lovely. You haven’t “done” anything wrong!

LakieLady · 29/10/2023 11:09

The thread is 10 months old, so hopefully the OP has long since resolved her housing issues!

DyslexicPoster · 29/10/2023 11:20

tabulahrasa · 15/12/2022 14:03

It’ll be a waste of time wearing a suit or saying education instead of school if it’s a letting agency btw.

I literally just get a list of people who have applied - with jobs, salary and a really brief description of any other circumstances.

This. It's always been my agent putting their prefered Tennant first. It's always just been their preferred Tennant, just one, there's no other choices. You need to impress the agent.

A single mum moved her fella in unvetted and he took over. I have since taken single mums but honestly the possibility of some forcefully bloke moving in unvetted and telling ME what's what, puts me off. Sorry but I'm just being honest. Totally my fault. I should insisted on a full vet and completely new contract.