Thread: rent going up?
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Old Dec 9, 2008 | 11:19 AM
  #19  
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Chip
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Originally Posted by ballin
The property I let in the UK has actually just gone down, contract renewed a few days ago and I was told the market has gone down not up.
1 bed @ £625/month was at £650.
Over the last couple of years ive been advised by the agents I use to put up the rental price but ive refused on the grounds I didnt want to rock with boat with good tenants, im very glad i didnt get greedy now as at least if they look around, even after a recent drop, they will still see they are getting reasonable value I reckon.

Dark times ahead potentially though! I feel sorry for people with big LTV fixed rate mortgages on rental properties right now, with the rent probably going to drop and fall short of the mortgage by even more than it probably is already, and without the option to sell due to neg equity.
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