London Rental Property Market - Still crazy afer all these years!

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PK99

Legendary Member
Location
SW19
D1 moves to Vancouver next week and is letting out her flat.

Her 1 bedroom, Victorian conversion flat went on Rightmove @£1400pcm on Xmas Eve with viewings available from yesterday.

10 viewings yesterday
15 scheduled for today

Already 5 firm offers. 4 above asking rental best at £1550pcm (10% above asking) with people looking to move in the day she vacates.

Madness!
 
D1 moves to Vancouver next week and is letting out her flat.

Her 1 bedroom, Victorian conversion flat went on Rightmove @£1400pcm on Xmas Eve with viewings available from yesterday.

10 viewings yesterday
15 scheduled for today

Already 5 firm offers. 4 above asking rental best at £1550pcm (10% above asking) with people looking to move in the day she vacates.

Madness!
London rental is a rhyming slang term nowadays.
 

Brains

Legendary Member
Location
Greenwich
Agents go to enormous lengths in order to build up their land bank of one bed properties to release on the market the first week of January every year, so D1 has timed her rental period with absolute perfection.

If you are not letting this out via an Agent ensure you get the prospective tenants vetted professionally via one of the companies (costs about £30).

Also ensure that you get a 6 week deposit up front and ensure the deposit is lodged via MyDeposits.co.uk (or similar) it is illegal (and silly) not to do so.

Also go with the person who is going to stay longest (usually the older ones), not necessarily the one offering top dollar.
Anyone that is looking for a stopgap for a few month or a year or so I'd ignore, the best tenants are those over 30, who dont want to move and most imporatnly are prepared to fix stuff, rather than call you (or the agent) every time something goes wrong
 

TVC

Guest
Considering it's over half an hour, and he's not replied, I think it's safe to say mark is still rolling around howling with laughter.
Perhaps it's a concept beyond his comprehension. ^_^
 
[QUOTE 4625153, member: 259"]Enough places to live but kept empty as well. It should be a city, not a piggy bank.[/QUOTE]
It is wrong that places are kept empty but doubt that is a major factor. They tend to be the top end flats. Probably has some impact at the lower and middle ends but that's just more to do with lots of people and not enough places. I doubt putting all the empty properties to the open market of people wanting to live will even scratch the surface.
 
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Locations other than London are available.
Sorry, sensible answer.

Available <> practical. If you work in London, and lots do, then you either live in London with exhortibant house prices/rental prices or you commute. You now have to be pretty far out to get affordable living but then you swap it for expensive travel, unreliable public transport and long commutes which has its own costs. Those places that offer good commutes are almost as expensive as London.
 

GrumpyGregry

Here for rides.
Sorry, sensible answer.

Available <> practical. If you work in London, and lots do, then you either live in London with exhortibant house prices/rental prices or you commute. You now have to be pretty far out to get affordable living but then you swap it for expensive travel, unreliable public transport and long commutes which has its own costs. Those places that offer good commutes are almost as expensive as London.
^This

#1 son has moved back to London. 460 a month for a season from here to work, shockingly shite service even before the strikes, versus 1/3rd of the rent in a shared flat in 'ackney, most of which is paid for by dodging the season ticket, and a monthly travelcard. If he paid rent for similar accommodation hereabouts he would be financial worse off and wasting three hours a day travelling. Injury meet insult.
 

TVC

Guest
Sorry, sensible answer.

Available <> practical. If you work in London, and lots do, then you either live in London with exhortibant house prices/rental prices or you commute. You now have to be pretty far out to get affordable living but then you swap it for expensive travel, unreliable public transport and long commutes which has its own costs. Those places that offer good commutes are almost as expensive as London.
But why do you have to work in London? Other cities are available
 
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