£8000 will be on a credit card.
That's not alot for a couple to have available as a maximum amount on one card, for 1 of them.
Dont worry about the interest or trying to repay it if ypu need somewhere to live.
I had cards with credit limit that exceeded my annual income, multiple cards
we have friends who had theirs raised by 10%, first increase in 3 or 4 years
Depending on if this is 3 or 4 years that's ~2.5-3% p.a average which is not crazy. 30% though is!
Very few people have had pay rises that match inflation, so why should the landlord expect one?
Inflation is defined by mixed basket of goods and services. If there is inflation then some of these good and services have increased in price. The reason for the increase in these items price may be varied but these items have increased in price. Other goods and services outside of this basket (in this case rent) will be influenced by this rate of inflation in one way or another. It's not necessarily expecting it's a result of and influenced by inflation.
The whole housing / rental market in the UK is screwed and tenants get no real protection - its a bit better in Scotland and there is a rent freeze right now here but the housing market works to transfer money from the state and the poor to the rich. Buying property on an ordinary wage is impossible for many and tenants get no protection
A rise in line with inflation seems reasonable. 30% is madness. There has to be a control here surely, what’s to stop them doubling it?
When we the last increase?
A few years I started at a company that'd never put the service prices up, 5 years of lost increases that they never got back plus compounded so their income was in reality 15% lower. Lazy & daft.
Landlords should really increase rentals on a tenants anniversary by CPI/RPI etc - no one would've complained in the decade before this year.
I tend to only hike rents when tenants change
+1
We only change rent when changing tenant. A 30% hike mid tenancy is just outrageous and suggests the landlord doesn't give a frack about you or anyone.
What does 8 grand get you as a deposit in Bristol.
Move? 😁
I guess that's kinda my point. It'll likely get you bugger all, but it should. Up until fairly recently I believed that renting was the 'cheap' option for people who couldn't afford a mortgage, but if anything it's more expensive. We moved to a 5-bedroom house and the difference between the mortgage and the rent my partner was paying for a 2.5 bed semi with one living room came out at £6/month. Granted, I had a sizeable deposit, but still. I find that absolutely astounding, she was literally giving a complete stranger a free house simply due to the lack of a deposit (and the moany arse still wouldn't get the boiler fixed).
Handy point if he works in bristol
1) It may be the owners of the property are afraid of being declared bankrupt, it may not just be greed. A lot of issues are hitting them hard and the 'insulation of rental properties' issue is also a huge expense looming on the horizon, in addition to the possible expense of heat exchangers if the house heating fails.
2) There is no genuine social housing left to act as a form of rent control (housing associations seem set up to pay large saleries not help tenants)
3) A friend owns a chain of rental properties. They chose to stop any rent increase at all during Covid and also are continuing to freeze due to awareness people cannot pay. They wish to keep any responsible, polite and friendly tennents they have. They are good landlords and maintain buildings/sort problems as they see it in everyones interest to be decent. As they were landlords starting decades ago, they have paid off all thier properties or bought them for cash in the first place (they have other substantial incomes). They have told me if they were not paid off, they would be getting out of landlordship as the way things are going, it would not be financially viable to continue.
4) Another friend has a 30 something son who has been trying to find a flat or similar in either Bristol or Cardiff. He had been looking for months and found many estate agents treated the situation almost as a joke ( as in we joke with despair, rather than spiteful) as there are so many desperate people who would take anything at almost any price if they could manage to fund it. He finally got something, as I think he happened to be the person in the Estate agents when the property came in for rent.
5) I have seen many accounts of bidding wars for property in the last few months in national newspapers. It seems the asking price for rent is now rather like the 'guide price' of auctions - ie no one ever pays that price, its always higher.
6) Try to find some value for your landlord that you can offer. A stable, helpful and decent tenent who is planning to stay for years saves them money and inconvienence. If possible try to get to the owner of the property if you can do it without being annoying.
7) My landlord friends stopped thier agent from throwing out a long standing tennent. The agency wanted to not renew the womans contract as on thier judegement she could not theoretically make the payments each month. However she had never defaulted on a payment in the many years she lived in the house, so my friend refused to agree to her eviction. The Agency was pissed and said the property owner (my friends) would have to take all the responsibility of her if she defualted in payments but my friends refused to throw on to the street an innocent person who had never been a problem.
Often the Agency is the bottleneck.
) My landlord friends stopped thier agent from throwing out a long standing tennent. The agency wanted to not renew the womans contract as on thier judegement she could not theoretically make the payments each month. However she had never defaulted on a payment in the many years she lived in the house, so my friend refused to agree to her eviction.
I think this would not be aloud now. Either way that is maximum dick move from the agent. I have always avoided agency where possible and do not understand what value they bring (from either a landlord or tenant pov) tbh unless you are living abroad.
2) There is no genuine social housing left to act as a form of rent control (housing associations seem set up to pay large salaries not help tenants)
I pointed this out to an acquaintance who worked in Social Housing back in the mid-2000's, after she'd described how her bosses worked & who they were 'accountable' to - pretty much no one.
Yet another example of the classic Tory strategy of transferring public cash into the private sector.
