Rent Payments Stopped ?

[Richlist]

A tongue in cheek view of what we can expect :

 

The cost of living is starting to bite for some. Any landlords had rent payments missed as a result ? Perhaps we are all waiting to see what the new PM can offer to cushion energy bills. Anyone else expecting big problems ?......As you all know......rent payments will be way down the priority list, at least coming after eating, heating, credit cards, loans, transport costs and lottery tickets.

I guess some people will also still want to feed their dogs, pay for their mobile phone, keep their Broadband, Netflix, Sky & Amazon prime accounts going and ensure their regular visits to the nail bar, hairdresser and favourite restaurant continue. Smokers won't want to give up and those that like a drink will usually find a way to indulge themselves.

That leaves landlords......somewhere down, near the bottom of the priority list about on par with the paying of parking tickets and the repaying of money owed to friends & family.

Oh dear.......it's going to get tough shortly after the October energy price increase.

 

[Melboy]

With housing availability being in very short supply I would hope that the vast majority of tenants will prioritise their finances to ensure they keep a roof over their heads. I am not expecting any problems but you never know do you.

I guess the worse case scenario you could add to Richlists list of priority tenant expenditure is unexpected unemployment/redundancy.

I am reviewing the way energy is consumed in my household and making the necessary adjustments so I hope my tenants will be doing the same as me. My big fear is the projected rise in Council Tax which will be announced in January. Councils are already making noises about not enough money from central government to cover the massive expenditure they have to provide for local social services to asylum seekers, Ukrainian refugees, unaccompanied children, the elderly and those that have long term health requirements so stand by for a big percentage rise in CT.

[bil8999]

20 minutes ago, Melboy said:

With housing availability being in very short supply I would hope that the vast majority of tenants will prioritise their finances to ensure they keep a roof over their heads. I am not expecting any problems but you never know do you.

I guess the worse case scenario you could add to Richlists list of priority tenant expenditure is unexpected unemployment/redundancy.

I am reviewing the way energy is consumed in my household and making the necessary adjustments so I hope my tenants will be doing the same as me. My big fear is the projected rise in Council Tax which will be announced in January. Councils are already making noises about not enough money from central government to cover the massive expenditure they have to provide for local social services to asylum seekers, Ukrainian refugees, unaccompanied children, the elderly and those that have long term health requirements so stand by for a big percentage rise in CT.

Yes i agree, council tax is one of my pet hates, saw nothing wrong with poll tax, no such thing as public servants they have all become public masters, when the rise comes it will be considerable, there is talk of working 4 days for 5 days money, if there are any vacancies within my local authority please give me a call.

I think that the majority of my tenants will pay there rent as we have a good relationship with all of them, if any do fall behind we will do what we can to help.

[Richlist]

I'm finding that there are more & more people pleading poverty when in fact their problem is mismanagement of their finances. Much of their expenditure goes on unnecessary items which leave them short of money in other areas. The media are equally at fault, continually raising the issue of affordability without looking at individual expenditure and management of their finances.

So many people seem incapable of prioritising correctly it almost needs to be one of the attributes landlords should be looking for when selecting suitable tenants.

I was in my local newsagents a few days ago and a guy in the queue in front of me was buying a tin of tobacco for £25. Yes, I know, incredible, I don't smoke so had no idea that's what a tin of 'roll your own' costs. He was also surprised but then said ......oh well I'll take the tin of tobacco and give me 10 lottery tickets to go with it, the rent will have to wait !

[bil8999]

1 hour ago, Richlist said:

I'm finding that there are more & more people pleading poverty when in fact their problem is mismanagement of their finances. Much of their expenditure goes on unnecessary items which leave them short of money in other areas. The media are equally at fault, continually raising the issue of affordability without looking at individual expenditure and management of their finances.

So many people seem incapable of prioritising correctly it almost needs to be one of the attributes landlords should be looking for when selecting suitable tenants.

I was in my local newsagents a few days ago and a guy in the queue in front of me was buying a tin of tobacco for £25. Yes, I know, incredible, I don't smoke so had no idea that's what a tin of 'roll your own' costs. He was also surprised but then said ......oh well I'll take the tin of tobacco and give me 10 lottery tickets to go with it, the rent will have to wait !

Hear and see it all of the time, must have my nails painted, double up on rent next week, how people can afford to smoke is beyond me, but believe that you should be able to spend your hard earned money how you choose, after paying rent, gas electric, food etc. 

[kanrent]

2 hours ago, Richlist said:

I'm finding that there are more & more people pleading poverty when in fact their problem is mismanagement of their finances. Much of their expenditure goes on unnecessary items which leave them short of money in other areas. The media are equally at fault, continually raising the issue of affordability without looking at individual expenditure and management of their finances.

So many people seem incapable of prioritising correctly it almost needs to be one of the attributes landlords should be looking for when selecting suitable tenants.

I was in my local newsagents a few days ago and a guy in the queue in front of me was buying a tin of tobacco for £25. Yes, I know, incredible, I don't smoke so had no idea that's what a tin of 'roll your own' costs. He was also surprised but then said ......oh well I'll take the tin of tobacco and give me 10 lottery tickets to go with it, the rent will have to wait !

Don't expect any sympathy from the media, remember they are working for the government who in turn wants an end to the PRS to make way for corporate landlords

[Grampa]

The thing is some people just dont have the ability to manage their finances efficiently. We all probably know someone who is intelligent but jump from one financial crisis to another and are forever in debt due to lack of basic money management.

I guess it could come under the banner of common sense and once again we all know some intelligent people who have no common sense or problem solving skills.

But back on the subject of rents not being paid due to the current economic situation it never ceases to amaze me how some tenants think it is perfectly ok to prioritise some other expense over their rent payments and just think its ok to state the rent will be late due to some trivial other expense and it doesn't cross their minds that it could put their tenancy at risk and lose goodwill of their landlord. If they at least just asked instead of telling it would be more acceptable.  

[Carryon Regardless]

Fortunately I have a couple of tenants that prioritise rent payments, as they see that as ensuring a roof over their (and families) heads. A bit like i might view our home mortgage.

Others have read and heard enough media to know that I am a money grabbing sleaze bag that doesn't do anything to deserve the rents I charge. Tbh there is so much of this reported I start to doubt that it is reasonable to expect these rents for myself. If only i could persuade my lending sources that this has merit.