Rental market is utterly broken
Discussion
Spent last two weeks trying to find something, yes it is only low end, so worst part of market to be in, but I have been here before and never found it this hard, and actually ridiculous. You are looking at days of viewings, then you find out after first day someone get it.
Then you get the other end, I am aware it is a legal requirement to have an oven in a rental, apparently not! So that means forking out potentially another 5 or 600 quid on white goods when one should legally be there really.
Honestly I have never known this market to be so broken, it is almost a full time job trying to find something, and companies and some landlords are really not playing fair with viewings and the like.
Most do bookings it he day which means it is taking time off work to do viewings which depending on your role can be impossible, so that means you are on evenings and weekends, the most popular times, I have just taken a fortnight off to sort this out and got nowhere.
Then you get the other end, I am aware it is a legal requirement to have an oven in a rental, apparently not! So that means forking out potentially another 5 or 600 quid on white goods when one should legally be there really.
Honestly I have never known this market to be so broken, it is almost a full time job trying to find something, and companies and some landlords are really not playing fair with viewings and the like.
Most do bookings it he day which means it is taking time off work to do viewings which depending on your role can be impossible, so that means you are on evenings and weekends, the most popular times, I have just taken a fortnight off to sort this out and got nowhere.
I can't help but this will save you a few hundred quid: https://ao.com/product/ifw6230wh-indesit-aria-elec...
flatlandsman said:
Spent last two weeks trying to find something, yes it is only low end, so worst part of market to be in, but I have been here before and never found it this hard, and actually ridiculous. You are looking at days of viewings, then you find out after first day someone get it.
Then you get the other end, I am aware it is a legal requirement to have an oven in a rental, apparently not! So that means forking out potentially another 5 or 600 quid on white goods when one should legally be there really.
Honestly I have never known this market to be so broken, it is almost a full time job trying to find something, and companies and some landlords are really not playing fair with viewings and the like.
Most do bookings it he day which means it is taking time off work to do viewings which depending on your role can be impossible, so that means you are on evenings and weekends, the most popular times, I have just taken a fortnight off to sort this out and got nowhere.
The difference between supply and demand is growing. Then you get the other end, I am aware it is a legal requirement to have an oven in a rental, apparently not! So that means forking out potentially another 5 or 600 quid on white goods when one should legally be there really.
Honestly I have never known this market to be so broken, it is almost a full time job trying to find something, and companies and some landlords are really not playing fair with viewings and the like.
Most do bookings it he day which means it is taking time off work to do viewings which depending on your role can be impossible, so that means you are on evenings and weekends, the most popular times, I have just taken a fortnight off to sort this out and got nowhere.
Punitive taxes (on private landlords only) and it being increasingly hard to remove bad tenants means lots of landlords are exiting. High interst rates will also drive more people to exit with yields being around 4-5%.
Supply in my area has dried up. I set up a routine email from rightmove recently so that I could review my rents. I get almost no notifications, and when I do get one the prices are much higher than I expected (up to £1500 vs the £1100 I was expecting).
My brother has sold all his rentals over the last couple of years, and we got rid of 2. We were planning to sell the rest with the coming EPC rules but that's now scrapped so not sure what we will do now.
Edited by 98elise on Friday 29th September 10:26
Simpo Two said:
I can't help but this will save you a few hundred quid: https://ao.com/product/ifw6230wh-indesit-aria-elec...
Or even this... I managed fine in a shared kitchen at university with just this:https://www.argos.co.uk/product/8935665?clickPR=pl...
Yeah it's not great and aside from wishing you good luck there isn't much I can suggest.
Got to get in there quick but I'm aware plenty of people accept tenancies without viewings to get ahead of the curve.
When I last did it, me and the gf at the time sat in the estate agents on a Saturday morning and got them to take us to as many that were still available or "due to be available" (i.e. listed over the weekend) that morning. Spent 3 hours going round and eventually found one that ticked the boxes.
Got to get in there quick but I'm aware plenty of people accept tenancies without viewings to get ahead of the curve.
When I last did it, me and the gf at the time sat in the estate agents on a Saturday morning and got them to take us to as many that were still available or "due to be available" (i.e. listed over the weekend) that morning. Spent 3 hours going round and eventually found one that ticked the boxes.
Interestingly
Just had a conversation with a company not a landlord and they seem to think it is not a legal requirement to have an oven in a property. Not sure if this is different for companies or just landlords?
I am fairly convinced this is the case and every search I have done states this.
It matters not I would not dream of renting a property without one as I believe it is a legal right, some people are clearly cutting corners to get tenants in without even offering the basics that are expected.
Just had a conversation with a company not a landlord and they seem to think it is not a legal requirement to have an oven in a property. Not sure if this is different for companies or just landlords?
I am fairly convinced this is the case and every search I have done states this.
It matters not I would not dream of renting a property without one as I believe it is a legal right, some people are clearly cutting corners to get tenants in without even offering the basics that are expected.
flatlandsman said:
Interestingly
Just had a conversation with a company not a landlord and they seem to think it is not a legal requirement to have an oven in a property. Not sure if this is different for companies or just landlords?
I am fairly convinced this is the case and every search I have done states this.
It matters not I would not dream of renting a property without one as I believe it is a legal right, some people are clearly cutting corners to get tenants in without even offering the basics that are expected.
I was under the impression that it wasn't required in an unfurnished property, however I always provide one.Just had a conversation with a company not a landlord and they seem to think it is not a legal requirement to have an oven in a property. Not sure if this is different for companies or just landlords?
I am fairly convinced this is the case and every search I have done states this.
It matters not I would not dream of renting a property without one as I believe it is a legal right, some people are clearly cutting corners to get tenants in without even offering the basics that are expected.
As a hob or cooker needs to be hard wired I see it as a fixed part of the property, a bit like an electric shower or extractor fan. Tenants shouldn't have to hard wire anything in a rented property.
Yeah it's rough, had a mate who was given notice on his current place as the landlord wanted to increase the rent massivley. He had to try and find somewhere quick, just wasn't anything available. In the end he negotiated the rent on his current place to a level that was still higher but similar to other places he was looking at.
Best of luck with the search.
Best of luck with the search.
I would have 2 flats to rent out long term but the prospect of being stuck permanently with a tenant from hell due to the new laws coming in are a complete deal-breaker.
Combine that with the changes in the tax system make it more or less non-profitable anyway - they'll go for medium term / Airbnb lets.
No idea why the current governent have designed this to happen?
Combine that with the changes in the tax system make it more or less non-profitable anyway - they'll go for medium term / Airbnb lets.
No idea why the current governent have designed this to happen?
Massive demand for fewer properties.
We're lucky in that our tenants are absolutely spot on, but we did get to cherry pick them.
We had 20 applications the same day we put it on the rental market, made a short list and interviewed them all. For this reason my view is that as a landlord you're actually in a good position re bad tenants as you can be choosy. This isn't at the arse end of the market though, this is a 4 bed semi in a respectable area.
We're lucky in that our tenants are absolutely spot on, but we did get to cherry pick them.
We had 20 applications the same day we put it on the rental market, made a short list and interviewed them all. For this reason my view is that as a landlord you're actually in a good position re bad tenants as you can be choosy. This isn't at the arse end of the market though, this is a 4 bed semi in a respectable area.
My daughter has just gone through this, she foolishly moved out and in with the boyfriend, this time last year, 6m later it went tits up with him (could see it happening a mile off) and given the rise in rents in just a year, couldn't afford to rent by herself, fortunately a colleague of hers was in a similar position and had similar time scales to move out, they have gone in together on a 2 bed property on a 12m lease but finding somewhere was an absolute nightmare.
Most places were gone within a day of being advertised, many people were offering more than advertised, many were going for places with no viewings, everything she looked at was snapped up instantly, given she had work and other commitments it was becoming a major issue, also she now has a dog and even though places now have to "consider" pets, seriously what does that even mean "yep I've considered it and it's a no", many were advertised as "no pets".
Moving back to ours for a while and to give her some breathing space wasn't an option as her dog doesn't get on with ours, or any other dogs TBH, fortunately she has managed to find somewhere and is moving in, in a couple of weeks, problem is I can foresee the same rigmarole this time next year.
Such a stupid girl TBH, if she hadn't got carried away with wanting to move out with her boyfriend, given it a couple of years she could easily have saved a decent deposit (knowing how much she is spunking on renting and earning) to buy somewhere, now that is pretty much never going to happen, however that is a different story!
Most places were gone within a day of being advertised, many people were offering more than advertised, many were going for places with no viewings, everything she looked at was snapped up instantly, given she had work and other commitments it was becoming a major issue, also she now has a dog and even though places now have to "consider" pets, seriously what does that even mean "yep I've considered it and it's a no", many were advertised as "no pets".
Moving back to ours for a while and to give her some breathing space wasn't an option as her dog doesn't get on with ours, or any other dogs TBH, fortunately she has managed to find somewhere and is moving in, in a couple of weeks, problem is I can foresee the same rigmarole this time next year.
Such a stupid girl TBH, if she hadn't got carried away with wanting to move out with her boyfriend, given it a couple of years she could easily have saved a decent deposit (knowing how much she is spunking on renting and earning) to buy somewhere, now that is pretty much never going to happen, however that is a different story!
Edited by HTP99 on Friday 29th September 12:37
AB said:
Massive demand for fewer properties.
We're lucky in that our tenants are absolutely spot on, but we did get to cherry pick them.
We had 20 applications the same day we put it on the rental market, made a short list and interviewed them all. For this reason my view is that as a landlord you're actually in a good position re bad tenants as you can be choosy. This isn't at the arse end of the market though, this is a 4 bed semi in a respectable area.
I feel compelled to offer a word of caution. I have had experiences with properties in France, where similar tenant protection legislation exists as the one they are considering implementing here in the UK. It appears that there are professional tenants whose sole aim is to secure free accommodation. They often present themselves exceptionally well during interviews, making it difficult to discern their true intentions.We're lucky in that our tenants are absolutely spot on, but we did get to cherry pick them.
We had 20 applications the same day we put it on the rental market, made a short list and interviewed them all. For this reason my view is that as a landlord you're actually in a good position re bad tenants as you can be choosy. This isn't at the arse end of the market though, this is a 4 bed semi in a respectable area.
While having multiple applications does provide a certain level of security, it is important to conduct thorough background checks...
vaud said:
Or even this... I managed fine in a shared kitchen at university with just this:
https://www.argos.co.uk/product/8935665?clickPR=pl...
Indeed, the modern version of a Baby Belling!https://www.argos.co.uk/product/8935665?clickPR=pl...
98elise said:
As a hob or cooker needs to be hard wired...
Depends on the current needed. My hob (induction) is hardwired at 32A but the oven works off a 13A plug.I guess that all else being equal, a property without appliances would be cheaper to rent.
flatlandsman said:
It matters not I would not dream of renting a property without one...
If rental property is as hard to find as it seems, you may have to lower your expectations and buy an oven...Edited by Simpo Two on Friday 29th September 13:08
I am just finding it impossible.
7 or 8 viewings in a fortnight, sometimes first one in, sometimes not, makes no difference I think just look at salary and based it all on that, there is no other real reason I am not getting anywhere. I have no issues or pets etc, good referencing.
Half viewings are cancelled after offers are put it, I have tried not viewing most will not accept this.
I use all the available apps and things, it is just completely and utterly out of control.
I have rented for a long time, too old now for buying and too unstable salary wise in past to be able to buy. But I have never ever known the market to be as ridiculous, crazy and borderline corrupt as it is now. How on earth a place can be on a site one day and be gone the next when you know after ringing viewings are being done the day after, it MUST be preferential treatment for certain clients.
How the hell you get in that position I dont know.
the worst thing is I feel completely trapped, I am in a fairly poor rent now, having to do a 60 mile round trip and just trying to be closer to work, fuel increase means its going to cost me far more.
7 or 8 viewings in a fortnight, sometimes first one in, sometimes not, makes no difference I think just look at salary and based it all on that, there is no other real reason I am not getting anywhere. I have no issues or pets etc, good referencing.
Half viewings are cancelled after offers are put it, I have tried not viewing most will not accept this.
I use all the available apps and things, it is just completely and utterly out of control.
I have rented for a long time, too old now for buying and too unstable salary wise in past to be able to buy. But I have never ever known the market to be as ridiculous, crazy and borderline corrupt as it is now. How on earth a place can be on a site one day and be gone the next when you know after ringing viewings are being done the day after, it MUST be preferential treatment for certain clients.
How the hell you get in that position I dont know.
the worst thing is I feel completely trapped, I am in a fairly poor rent now, having to do a 60 mile round trip and just trying to be closer to work, fuel increase means its going to cost me far more.
flatlandsman said:
How the hell you get in that position I dont know.
the worst thing is I feel completely trapped, I am in a fairly poor rent now, having to do a 60 mile round trip and just trying to be closer to work, fuel increase means its going to cost me far more.
flatlandsman said:
I am just finding it impossible.
7 or 8 viewings in a fortnight, sometimes first one in, sometimes not, makes no difference I think just look at salary and based it all on that, there is no other real reason I am not getting anywhere. I have no issues or pets etc, good referencing.
Half viewings are cancelled after offers are put it, I have tried not viewing most will not accept this.
I use all the available apps and things, it is just completely and utterly out of control.
I have rented for a long time, too old now for buying and too unstable salary wise in past to be able to buy. But I have never ever known the market to be as ridiculous, crazy and borderline corrupt as it is now. How on earth a place can be on a site one day and be gone the next when you know after ringing viewings are being done the day after, it MUST be preferential treatment for certain clients.
How the hell you get in that position I dont know.
the worst thing is I feel completely trapped, I am in a fairly poor rent now, having to do a 60 mile round trip and just trying to be closer to work, fuel increase means its going to cost me far more.
Not sure how it's corrupt, or how a preferred list would work - it seems a tad unlikely that an agency has a queue of "preferred" clients waiting on properties. And even if they did - if the landlord knows that they have a queue of viewings the next day, and (in the current market) they're almost guaranteed to get multiple offers, some of which will be over asking - why would they accept a "preferred" client the day before?7 or 8 viewings in a fortnight, sometimes first one in, sometimes not, makes no difference I think just look at salary and based it all on that, there is no other real reason I am not getting anywhere. I have no issues or pets etc, good referencing.
Half viewings are cancelled after offers are put it, I have tried not viewing most will not accept this.
I use all the available apps and things, it is just completely and utterly out of control.
I have rented for a long time, too old now for buying and too unstable salary wise in past to be able to buy. But I have never ever known the market to be as ridiculous, crazy and borderline corrupt as it is now. How on earth a place can be on a site one day and be gone the next when you know after ringing viewings are being done the day after, it MUST be preferential treatment for certain clients.
How the hell you get in that position I dont know.
the worst thing is I feel completely trapped, I am in a fairly poor rent now, having to do a 60 mile round trip and just trying to be closer to work, fuel increase means its going to cost me far more.
I sympathise - I'm sure it's a very crap position to be in - but I think you're reading a tad too much into it. As somebody has already said, it's supply and demand - you need to be quicker, or you need to outbid people.
ETA : Or maybe you're not passing the credit checks? When I had offers, the agency told me that the tenants I chose would fail the tenancy checks because they were both self employed - but one of them had only been so for 6 months, and hence there were no accounts. They might have been great, but I simply moved to the next offer on the list.
Edited by davek_964 on Friday 29th September 13:53
Gassing Station | Homes, Gardens and DIY | Top of Page | What's New | My Stuff