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Rental nightmare in coastal Cornwall (and coastal Devon, IoW)


Frank Hovis
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Don Coglione
15 minutes ago, Wight Flight said:

Ah. Shalford was where Phil Collins' local was. Not my gallery.

My gallery, to my knowledge, never had anyone famous visit.

Fuck me, you must be James Bond, then.

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Wight Flight
1 minute ago, Knickerless Turgid said:

Fuck me, you must be James Bond, then.

Nope. You lost me.

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sleepwello'nights
6 minutes ago, Wight Flight said:

Nope. You lost me.

Easy enough around Shalford. Lots of hills for walking :ph34r:

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janch
5 minutes ago, Frank Hovis said:

More of the same.

Port Isaac bungalow sells in just five minutes as Cornwall housing madness continues

A buyer also offered £4.5m for a Polzeath home they hadn't seen

 

https://www.cornwalllive.com/news/cornwall-news/port-isaac-bungalow-sells-just-5372836

 

At least the local paper is now referring to it as what it realy is: madness.

Wow!

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sleepwello'nights

I know its been pointed out before but does no one ever check before printing?

 in Cornwall are said to have increased in price year-on-year by 11%, with the average property prices rising from £302,880 to £318,852.

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Frank Hovis
5 minutes ago, sleepwello'nights said:

I know its been pointed out before but does no one ever check before printing?

 in Cornwall are said to have increased in price year-on-year by 11%, with the average property prices rising from £302,880 to £318,852.

If that's the six month movement then 11% is correct on an annualised basis.  I know it doesn't say that but I am interpreting it.

Also "Trainee Reporter" so probably on apprenticeship and not even minimum wage.

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If this happens in Northern Ireland, it could get very tricky to rent privately.

https://thenegotiator.co.uk/northern-ireland-private-sector-leasing-letting-agents-propertymark/

Proposal will offer landlords guaranteed rent in return for tenancies of 3-5 five years but could suck 50% of stock out of market at lower end.

A private rental market scheme being proposed in Northern Ireland by its government could see some letting agents there lose up to half their stock, it has been claimed.

ARLA Propertymark says the introduction of a Private Sector Leasing (PSL) scheme as revealed by the Northern Ireland Executive at Stormont would be ‘bad news’ for both letting agents and landlords.

The PSL will be a national rent-to-rent style scheme offering landlords a long-term lease on properties and enabling tenants to sign up for tenancies of between three and five years.

In return landlords would be offered in return for a lower but guaranteed rental income similar in many ways to the rent-to-rent model offered by many agents all over the UK.

ARLA Propertymark is worried that the scheme, if it became popular, would hoover up market share in the lower end of the market and could ‘steal’ up to 50% of this kind of stock from full-management lettings agents.

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spygirl
34 minutes ago, TMM said:

If this happens in Northern Ireland, it could get very tricky to rent privately.

https://thenegotiator.co.uk/northern-ireland-private-sector-leasing-letting-agents-propertymark/

Proposal will offer landlords guaranteed rent in return for tenancies of 3-5 five years but could suck 50% of stock out of market at lower end.

A private rental market scheme being proposed in Northern Ireland by its government could see some letting agents there lose up to half their stock, it has been claimed.

ARLA Propertymark says the introduction of a Private Sector Leasing (PSL) scheme as revealed by the Northern Ireland Executive at Stormont would be ‘bad news’ for both letting agents and landlords.

The PSL will be a national rent-to-rent style scheme offering landlords a long-term lease on properties and enabling tenants to sign up for tenancies of between three and five years.

In return landlords would be offered in return for a lower but guaranteed rental income similar in many ways to the rent-to-rent model offered by many agents all over the UK.

ARLA Propertymark is worried that the scheme, if it became popular, would hoover up market share in the lower end of the market and could ‘steal’ up to 50% of this kind of stock from full-management lettings agents.

Thee have been around for ages.

They only work for LL with little to no leverage/debt.

IO BTL of 2002 onwards tend to have leveraged right up the limits, so cannot afford to take the reduced rent offered by LAs.

Some mortgage TnCs also forbid these long contracts - the bank wants to be able to repo the building within a short perios. Having a ~5 year contract is a problem.

And, last but not least, LHA tend to change.

 

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Wight Flight
Posted (edited)
On 28/04/2021 at 13:47, Frank Hovis said:

Updating this a few days on:

Total rentals in all of Cornwall: 125 -> 112

Of which three bed or more: 63 -> 53

Of which £1,000 per month or less: 19 -> 13

My update:

Total rentals available - 29  - now 19

Three bed or more - 9 - now 3

Of which under £1k - 5 - now 3

New category - 2 beds or more. Just 9.

 

Edited by Wight Flight
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Don Coglione

I mentioned previously (fuck knows where!) that our hideous previous rental property had been re-listed at £1400 per month, up from the £1250 we had been paying for the last year.

An all-but identical house has now been put up at £1600 per month.

This in central, rural Wiltshire.

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Frank Hovis
11 hours ago, Don Coglione said:

I mentioned previously (fuck knows where!) that our hideous previous rental property had been re-listed at £1400 per month, up from the £1250 we had been paying for the last year.

An all-but identical house has now been put up at £1600 per month.

This in central, rural Wiltshire.

It's almost as though unscrupulous landlords are scenting desperation and exploiting it.

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UmBongo

I did a search of 1-2 bedroom rentals in my home city of Norwich (Norfolk) that were not flats, nor shared houses. 

I think I got around 25 results. O.o

 

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Wight Flight
2 hours ago, UmBongo said:

I did a search of 1-2 bedroom rentals in my home city of Norwich (Norfolk) that were not flats, nor shared houses. 

I think I got around 25 results. O.o

 

Norwich City has the same population as us (140k)

You have 210 rentals currently available.

You are literally awash with the things!

:)

 

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Frank Hovis
On 01/05/2021 at 10:33, Frank Hovis said:

As they are so few in number I can even list the last category: Redruth (2), Liskeard, Lostwithiel, Looe.

 

And again.  First was 24 April, penultimate 1 May.

 

Total rentals in all of Cornwall: 125 -> 112 -> 88 -> 75

Of which three bed or more: 63 -> 53 -> 36 -> 27

Of which £1,000 per month or less (ignoring house share): 19 -> 13 -> 6 -> 5

 

The last category are all now in east Cornwall: St Blazey Gate, Bodmin, Looe, St Austell, St Stephen.  The St Austell house is fully booked for vieiwing so that's effectively four in a county with a population of 568k per wiki.  Or one per every 142,000 head of population.

I'm aware that not all rental listings will appear on Rightmove but reports have featured independent lettings agents which say rental properties are going almost as soon as they are advertised.

 

The next cheapest are £1,315 in Penryn and then £1,400 in Newquay.  The family of four featured on the radio had been paying IIRC £780 in Newquay.

https://www.rightmove.co.uk/property-to-rent/find.html?locationIdentifier=REGION^61294&minBedrooms=3&maxPrice=1000&sortType=1&propertyTypes=&includeLetAgreed=false&mustHave=&dontShow=&furnishTypes=&keywords=

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UmBongo
20 minutes ago, Wight Flight said:

 

You have 210 rentals currently available.

You are literally awash with the things!

:)

 

Granted, I didn't take flats and house shares into consideration so that was a bit silly on my part. :$

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Don Coglione
On 10/05/2021 at 18:45, Don Coglione said:

I mentioned previously (fuck knows where!) that our hideous previous rental property had been re-listed at £1400 per month, up from the £1250 we had been paying for the last year.

An all-but identical house has now been put up at £1600 per month.

This in central, rural Wiltshire.

£1600 place has gone, in a few days...

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Article in Islington gazette from John mcdonnell, abbott and 75 others this week demanding that evictions are completely banned until 2022. Currently evictions possible for asbo conviction or 6 mo arrears apparently.

They also think arrears should be forgiven.

If anyone here had unused accommodation and no financial imperative that forces them to become a ll, would you leave it empty or rent it out?

Max deposit 1mo. Not sure if 6mo upfront is legal but even then after 6mo tenant can live another 6mo free and ll is powerless.

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spygirl
31 minutes ago, BWW said:

Article in Islington gazette from John mcdonnell, abbott and 75 others this week demanding that evictions are completely banned until 2022. Currently evictions possible for asbo conviction or 6 mo arrears apparently.

They also think arrears should be forgiven.

If anyone here had unused accommodation and no financial imperative that forces them to become a ll, would you leave it empty or rent it out?

Max deposit 1mo. Not sure if 6mo upfront is legal but even then after 6mo tenant can live another 6mo free and ll is powerless.

This was easy to predict when yge idiot IOBTLers piled on. And I said do on the other.

The more private sector renters, the more political it becomes.

30 years ago when I started work, private rentals were mainly shared houses or corporate let's.

As the io BTLers piled in, the numbers risen to 20% of households.

The banks should have run away from io btl. They didnt then but are running now.

The next step now s24 I fully implemented will be to force banks to check if their borrowers are declaring a rental return.

 

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Wight Flight
23 hours ago, BWW said:

Not sure if 6mo upfront is legal

6 months upfront here is almost obligatory.

Many now offer 12 months.

 

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Green Devil
On 13/05/2021 at 17:13, Don Coglione said:

£1600 place has gone, in a few days...

19,200 per year dead money to line the pocket of some LL scum. Thats 25k (min) your income before tax, gone. FFS.

The housing system is broken. 

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Noallegiance
9 hours ago, Green Devil said:

19,200 per year dead money to line the pocket of some LL scum. Thats 25k (min) your income before tax, gone. FFS.

The housing system is broken. 

Not dead money. I need a roof. I am unwilling to commit my remaining decades to debt near peak prices.

I live in a rental where the LL has no mortgage. I currently consider my rent as buying my and my children's freedom and that if I leave my children with £0 it'll be better than a large minus figure.

Also I'll be taking advantage of the greatest house buying opportunity ever if the time comes.

The dead money argument doesn't apply to me AFAIC.

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King Penda
On 11/05/2021 at 06:22, Frank Hovis said:

It's almost as though unscrupulous landlords are scenting desperation and exploiting it.

Terraces in stoke seem to be going up by quite a bit 

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Wight Flight
17 hours ago, Green Devil said:

19,200 per year dead money to line the pocket of some LL scum. Thats 25k (min) your income before tax, gone. FFS.

The housing system is broken. 

When you work it out, it is £50 a day or just over £2 per hour.

 

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