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Crazy rental prices?

17 replies

dontuse · 26/05/2022 17:48

Last year I rented a nice two bed flat £1,200 a month. Our upstairs neighbours paid £1,250. This year, my old place is on for £1,600 and upstairs for £1,650. Despite mine being nicer.

This is in another part of town. Nicer, and the flat is stunning, but on what planet are these agents living on?

www.rightmove.co.uk/properties/123658721?utm_content=v2-ealertspropertyimage&utm_medium=email&utm_source=emailupdates&utm_campaign=emailupdatesinstant&utm_term=letting&sc_id=36244270&onetime_FromEmail=true&cid=4afe3d9b-a08a-4a92-95e9-6da70438f82a&csg=1244b94edfbf7c8033af0863dd5889ba0027e1fbc91c2833c26bcaaff4552456#/?channel=RES_LET

OP posts:
Isseywith3witchycats · 26/05/2022 20:33

Landlord will charge what people will pay and someone sadly will pay what they ask we moved out of rented to buy our own house and the rent went up from £565 to £625 as soon as it went back up for rental (Yorkshire so cheaper rents)band it was occupied two weeks later

mindutopia · 27/05/2022 16:17

It’s madness. We moved out of our rental in February as finally managed to buy. The rent went up from £1100 to £1600. That’s as much as we pay on our mortgage for a 5 bed detached house. The family who moved in after us (we met them at the viewing). The husband has a public sector job, wife is SAHP, and they had 4 children. No idea how on earth they are affording that. We definitely couldn’t have in their position!

Ilikewinter · 27/05/2022 16:19

That flat you listed OP is madness......love that you dont even get a parking space for that price!!!

ResentfulLemon · 27/05/2022 16:28

The rental market is utterly barking, sadly I can see it getting worse until we hit a crunch point where the majority can't afford it, have already fucked over their credit ratings because they can't afford day to day life and won't give a shiny one about being taken to court for eviction because that's the only way to get social housing support.

Honest landlords that only charge what they need to (expenses plus reasonable profit) are few and far between. Too many are happy to cash in on "market value" even when taking half of that would more than cover their costs and leave money spare.

But hey, the rich keep getting richer so that's OK 🤷🏻‍♀️

UggyPow · 27/05/2022 17:33

I was replacing the boiler in my rental (northern 2 bed terrace, think traditional milllworker type property) & my tenants asked me if I was going to put the rent up I queried why they were asking. They advised that next door had just been let for £800 pcm & if I did they wouldn’t be able to afford it. This is an increase of £125 in 12 months. If this continues people are going to be priced out.
I advised that I wasn’t but some people are very worried

UggyPow · 27/05/2022 17:36

@ResentfulLemon not all landlords are rich, everyone’s reasons & circumstances are different 😉

earsup · 27/05/2022 17:44

we let two inherited properties...no rents increase for over 6 years despite hassle from agents as that would increase their slice....lovely long term tenants who look after houses....in some areas there is high demand and fast turnover so it goes up....

dadadeedadada · 27/05/2022 18:06

My (ex) council house has just jumped from 583 to 723 a month. Next door is still a council house and is 483 a month. I can't have a mortgage (ex still lives in the property that's twice the size and is 440 a month) but I can pay 723 in rent. When I said I can't afford it my landlord told me to apply for universal credit. That's right folks, the government will subsidise my rent so that my landlord can get a bit richer while I get a lot poorer. Oh and my house is a shithole.

NoraEphronsNeck · 27/05/2022 19:13

I remember when we were looking for a flat for my daughter I asked the landlord if there was any room for negotiation on rent and he said she can apply for help if she can't afford it on her own.

ResentfulLemon · 27/05/2022 20:31

UggyPow · 27/05/2022 17:36

@ResentfulLemon not all landlords are rich, everyone’s reasons & circumstances are different 😉

Read my post again. I didn't say all landlords are rich, but some are certainly trying to get rich by exploiting the lack of choice of others.

However the current fuck up is because it suits those in government for the proles to be in dire straits and for them and their cronies to clean up.

Unethical landlords add to this problem, but not all landlords are unethical just the ones who knowingly charge more than necessary citing "market value"

MistyMorningSong · 27/05/2022 20:50

I rent out a 2 bed flat to a single mother and her 2 children, and haven't increased the rent in 6 years, and have no intention, or need to put it up. And I always get any issues sorted promptly too.

I realise not all landlords are like me though ; I have no mortgage on it (or my own house), and it's only gone up in value, so at present we are both winners, as she always pays her rent on time.

Cybercynic · 28/05/2022 08:13

While I empathize that rental prices are skyrocketing, I do not see why this should be seen as some landlords not being honest.

How is this different from house sellers raising the prices of their properties and FTB taking on more debt. When house prices go up, sellers celebrate and owners feel proud that their wealth has gone up not realizing that people at the bottom of the chain get poorer.

End of the day, this is called capitalism where prices are determined by demand and supply. And the low supply means the suppliers (of rental stock and houses) will try to maximize their returns. It is not about being honest or dishonest.

If at all, it reflects the utter failure politicians and governments ensuring house price inflation is kept in check through laws such as rent control and high housing supply. Sadly, Increase in house prices is considered 'growth' and not inflation in this country.

FAQs · 28/05/2022 08:21

Sadly this was going to happen.

Tenancy fee ban a cost transferred to the landlord = fee added to the rent.

Right to rent fee = added to the rent

Section 21 removal = highest number of notices given this year, likely to get worse

Changes to tax = added to rent to recoup costs

All the above = higher number of landlord selling off properties and reducing supply, raising demand.

FAQs · 28/05/2022 08:22

Cybercynic · 28/05/2022 08:13

While I empathize that rental prices are skyrocketing, I do not see why this should be seen as some landlords not being honest.

How is this different from house sellers raising the prices of their properties and FTB taking on more debt. When house prices go up, sellers celebrate and owners feel proud that their wealth has gone up not realizing that people at the bottom of the chain get poorer.

End of the day, this is called capitalism where prices are determined by demand and supply. And the low supply means the suppliers (of rental stock and houses) will try to maximize their returns. It is not about being honest or dishonest.

If at all, it reflects the utter failure politicians and governments ensuring house price inflation is kept in check through laws such as rent control and high housing supply. Sadly, Increase in house prices is considered 'growth' and not inflation in this country.

Agree with you.

RedPlumbob · 28/05/2022 09:10

Meanwhile in my Midlands city, all family temporary accommodation (as in, the two small blocks of flats the council/a charity owns) are rammed to the gills, and families are spending MONTHS being shoved from hotel to hotel, a different one every day or every few days, doesn’t matter if it’s too far from work or from school, doesn’t matter if you’re disabled.

Pre Covid it was taking around 8 weeks to rehouse families from temp flats, now it’s more like 6 months minimum - hence the hotel hopping.

In the flats are mostly single mothers, and for the first time ever - single mothers that work full time, some in NMW jobs and some in graduate jobs like Nursing (I’m in Tech).

Because:

  • rents are being flung sky high
  • single mothers don’t pass “affordability”checks as any UC top ups aren’t taken into account (well how have we all paid our rent the last few years then if we can’t fucken afford it?!)
  • LLs all want home owner Guarantors who earn 40K minimum
And my personal favourites
  • almost every advert states “£2500 per month income required, not including benefits”
  • Working couples only
  • 3 bed houses in catchments for fantastic schools - No Children
  • no students
I cannot stress enough how fucked my life is right now. S21 eviction as LL wants to turn my 3 bed house near the City into a HMO as she can earn quadruple if not more that way.

I was served last June (Fixed Term ending January), so, as a disabled single mother with one disabled child out of my three children total and a STEM student, I was looking constantly.

In 10 different areas of the city.

With an income of £45,000 - through student loans, grants, bursaries, scholarships, UC, DLA High Rate Care & Mobility and High Rate Daily & Mobility PIP, and child support - he’s never missed a payment in 11 years so it absolutely is counted in my pot every month.

I have a CCJ which happened during my abusive marriage (fucks me off that it was impossible for me to prove that I didn’t take out a credit card with a limit of £3,000, spend it all then never pay it back - but it is what it is). It’s fully paid off and it’s 4 years old, but I have a homeowner Guarantor who earns £55,000 anyway.

I also have 6 months rent upfront saved (plus deposit and fees).

One glowing landlady reference and a personal/academic reference from a Professor.

I’m intelligent, articulate, well presented etc

As soon as the words “single parent” “mature student” came out of my mouth, I was fucked. In 10 months of frantic searching, I was “allowed” 6 viewings, “invited” to apply for 4 of those, 3 of them rejected me “in favour of a working couple/I’ve decided to go in a different direction for tenants on this property”

Finally, 8 weeks after the end of my S21, and 4 weeks after the Possession Order was granted,
the final house I viewed, the landlord accepted me, we signed the tenancy agreement and guarantor papers, money was exchanged, then 72 hours prior to moving in - the fucker pulled the plug.

Now - there is zero cooling off for Tenancy Agreements. There is no backing out at the last minute. If I had done it - the EA and LL would have hauled me to court and forced me to pay the full 12 months rent, costs associated with finding a new tenant, court fees, solicitor fees etc.

In theory, I could have sought an emergency court order to enforce the contract -if I had a spare £3000 around to instruct a solicitor (I don’t). Another option would have been to take a locksmith to the property on move in date and gain access that way, as the police would have said it’s a civil matter, and civil court would have upheld the tenancy agreement.-*

*as advised by Shelter, my local law centre, and the pro-bono law centre at my University.

In reality, there was fuck all I could do, other than wait for them to refund all the money, and wait for the Bailiff Order to come through.

As a result, I now owe court fees, which are an automatic CCJ (after I worked so hard to pay off the CCJ I didn’t fucken owe and repair my credit score), so my credit score is decimated now.

I was halfway through my Masters, that’s been suspended now as I can’t possibly study whilst “moving” every day/every other day from grubby hotel to grubby hotel, getting my kids to school (one secondary two primary), figuring out how the fuck to feed them well when I have no access to a fridge or even a microwave, let alone a cooker.

Despite multiple medical letters from the variety of specialists me and middle DC have, the council just shrug it off and say it doesn’t make us a higher priority for one of the temp flats when they become available.

I’m also still on Band B for social housing, so I’m not coming higher than 200, most weeks there’s only 2 houses to bid on. Our disabilities don’t matter there, either.

An educated guess says it’ll be about 18 months at best before I land a permanent social housing house. And this is in the East Midlands

It’s always harder to find a private rent as a single mother, but I have never had it be impossible. I’ve been renting for 15 years and I’ve always found somewhere before the end of the S21, it’s fucking humiliating that I had to wait for court orders. Humiliating doesn’t even cover it, actually.

I’ve developed stress alopecia, I’ve lost 3 stone so I’m now bordering on underweight, I’m popping Diazepam like they’re Smarties (Psychiatrist prescribed, obvs) on top of the cocktail I’m already on for PTSD and ADHD.

dubyalass · 28/05/2022 09:13

My landlords didn't put my rent up this year and for that I am very grateful. I'm a good tenant and we have a good relationship. But I expect the letting agent would advise them to raise the rent if I moved on. I'm on £26k and this is at the top of affordability for me. If I had to find another place I'd be screwed because similar places are now going for £150-200+ more yet my salary hasn't increased so I would fail affordability.

I don't see why the government/councils should step in to fund the gap when that gap is caused by capitalist forces. But there are so few rentals available here that people are fighting among themselves to offer more money or pay a year or more upfront just to have a roof over their heads, so it's no surprise that rents are rising when landlords see what desperate people are willing to pay.

The situation will not get better under this government. They simply don't give a shit as they've all got their snouts in the trough.

RedPlumbob · 28/05/2022 09:39

To add

  • The £2500 income but not including benefit requirements are for shit hole £700 3 bed terraces that haven’t been touched since the 80s, in shit hole areas.
Its unbelievable.
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