Passing on the rate cuts to a tenant

[BermyAndy]

Now, if you rented out rooms in your house or flat, would you pass on the recent rate cut to your tenants? The argument being that now your mortgage has come down, should they benefit?

[illmonkey]

No.

[hornetrider]

no chance!

[ipwn]

LOL no.

Surely the same principle can be roughly applied to fuel

Edited by ipwn on Thursday 4th December 11:57

[SJobson]

Of course not - they are on a fixed rent, so as with fixed rate mortgages, they don't go up or down.

At the end of the fix, you'd be free to renegotiate whatever you think fit, but they might move.

[JJCW]

Perhaps at end of a contract, but now? Hell no

[BermyAndy]

so what if it was your bird....?

[Plotloss]

Market rates set rents, not property costs.

Market rates are falling however.

[Mc Lovin]

Would you want your lender to pass on the cuts to you?

Treat others like you want to be treated yourself and all that....

[Mr POD]

BermyAndy said:

Now, if you rented out rooms in your house or flat, would you pass on the recent rate cut to your tenants? The argument being that now your mortgage has come down, should they benefit?

Price and Cost are not linked.

If you owned the house outright would you let them stay for nothing ? ER NO.

If the heating buggers up, will they pay more for the next 2 years to pay it ? NO.

[mrmr96]

Would you be able to get more money out of them if the rates went up? IMO the 'fair' answer is that it has to be a two way street, with either both upside and downside passed on, or neither.

However if it was my OH then of course I would pass the saving on. You'll have to make your own mind up though.

Edited by mrmr96 on Thursday 4th December 12:00

[trooperiziz]

I'm only just reaching the point where i'm not paying the buggers to live in my house, so no chance!

Bloody housing market... grumble grumble....

[Mc Lovin]

anonymous said:

[redacted]

You'd put your monthly rate up after the agreement had ended surely?

[anonymous-user]

i think you should, even if its only a marginal reduction. do unto others etc etc and they might be extremely grateful and decide not trash the place when they leave!...

[illmonkey]

Mc Lovin said:

anonymous said:

[redacted]

You'd put your monthly rate up after the agreement had ended surely?

Possibly, so why pass on the saving as soon as the rate goes down? why not wait till the end of the agreement?

[BOR]

BermyAndy said:

so what if it was your bird....?

You know the rules, first the photos, then you get our advice.

[shirt]

if its your OH i would pass it on if you live there as well.

if its a pure rental then no, i would be putting the savings into a seperate account for when something needs repairing/replacing.

[BermyAndy]

Its the other half, shes not on the mortgage

I will be taking the savings over christmas, then in january will go back to my original payment amount to take advantage of the ability to over pay

[Gylen]

BermyAndy said:

so what if it was your bird....?

Still, no. If it was a problem, I'd tell her I was on a fixed rate mortgage. Or even that my financial affairs are my business. Then I'd say, "you've got till the end of the day to pay up. Then I'm going to have to break something".

[bertie]

Let's get this straight, you are getting your OH to pay you rental?