I think it will be even harder for people who are struggling to get on the housing ladder. I think there will be a lot of births & separations meaning people moving up and moving out. There will be LLs who exit the market. These factors will all mean that those of us who are in it for the long term will be continuing to supply a much needed product - homes.
I think rents will initially be stagnant as people struggle to get themselves sorted but then once they start to rise the big rises in LHA will keep them going up.
Overall, short term pain but I believe a positive future for LLs.
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I will operate exactly the same as I did before the crisis. This isnt something which comes along once a year or even every 10 years. It's also had an effect on every area of society not just the self employed or the low paid workers etc. This extremely rare type of event shouldn't affect your selection criteria.
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I think there'll be a dip in property prices post event.
There'll be a lot of dead, grieving and damaged people and lots of businesses and jobs will be gone forever.
Which will keep landlords in the rental business, because it won't be the best time to sell up.
The government will go one of two ways - back to austerity to pay down the debt, or keep spending to stimulate the economy.
If the latter, it will be a better time to be a landlord.Leave a comment:
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I think its likely that there will be a long term impact on the rental market. My guess would be that a lot more landlords will exit the market either because they're in debt from unapid rent or because this is the final straw. There would therefore be greater demand for the properties that remain and landlords will be even more picky about who they take. The sales market could be flooded with properties after the crisis - former rental homes and the backlog of owner occupied homes. This could depress prices and sadly means that those of us who might have been planning a gradual withdrawal over the next 2 or 3 years may have to go on a bit longer, despite the inevitable increase in regulation.Leave a comment:
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Hard cash will be king. I think it will also be the case that the rate of rent will be much more tightly linked to estimated risk, much as mortgages are.Leave a comment:
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Agree totally, i for one will look upon the self employed in a different light which i have not done before, mine are due to be paid off in the next few years and i had intended to simply keep them, but all that has come in recently in regards reg's and now this, i have decided to sell all of them, i am getting too old and life is short.Leave a comment:
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Aftermath
I've been reading all the chat on this forum and was thinking about what it's going to be like after, will landlords be more weary of self employed tenants, have more uc or pack in all together ? Interesting times and the tenants are going to struggle even more as landlords try to doubley make sure and with tighter regulations on the way. I've been a landlord now for 30years and genuinely have no idea what could happen!
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As the tenant has returned the keys to the agent, I think its reasonably safe to assume an implied surrender. What does you tenancy agreement say about how long you will keep goods before disposing of them? Mine says 14 days. I would write to the tenant and tell them that you will dispose of their things...19-01-2021, 18:20 PM
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Got possession order just over 2 weeks ago using Section 8 rent arrears.
My solicitor (who just passed away yesterday) negotiated return of keys which tenant subsequently delayed on a number of occassions. Tenant eventually returned keys to estate agent office today however did not want...19-01-2021, 17:36 PM -
Might a landlord argue that "the last day of the 6th month of the tenancy" is 30 June? I guess a court is likely to favour the interpretation most favourable to the tenant though....19-01-2021, 18:13 PM
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Hello. I am a tenant looking for a confirmation of how wording of break clause in my tenancy agreement applies to my situation.
I moved into my current flat on 15th Dec. However due to change of personal circumstances I'd like to move in 6 months. My tenancy agreement (12 months) includes...19-01-2021, 11:59 AM -
Reply to Rent reduction or moving outI think that conflating the two issues is going to work against you. I suggest you pick the one that's most important to you and pursue that as above....19-01-2021, 17:53 PM
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Hello forum,
It's my first post here, I hope for some advice
We've been renting a property in London for almost 4yrs. Our TA is due for renewal in March and we decided to ask the landlord for a rent reduction because like many others we have been experiencing financial pressure...17-01-2021, 21:32 PM -
Reply to Trouble with step motherClassic !!! Talk about entitled. As said above you really do need very specialist help with this one, i cannot see how the arrangement with your father in law would transfer to his wife but the property with which it was on has been sold and a new one purchased and we know that sometimes the law is...19-01-2021, 17:45 PM
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Hi my husband was given a property as a deed of gift after his mother passed away in 1991 from his father. My husband put in place through the solicitor that his father could live rent free in the property but had to pay bills and any repairs or updating. His father married later the same year. The...19-01-2021, 09:53 AM
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PS Suggest you first very carefully re-read your agreement with agent: Might just be terms & conditions they quoted you in an early email. No, not the AST.
But even if they should handle evictions etc sounds like they are useless so do it yourself.
In good old Engerland...19-01-2021, 14:38 PM -
I have a contract with my letting agent to find me a tenant and collect rent. The tenant hasn't payed for already 2 months. The agency sent a couple of emails saying that xxx balance is outstanding but is not doing anything else. I've already payed them a commission 12 months in advance. Does anyone...19-01-2021, 11:34 AM
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