How much lower than market rent are you? How much lower than market price was the offer?As the rent was so low,
but what % is this of the 'current market value' ? You are liable for 33% CGT of the differance btw so take that into account as well.Compared to Daft at the time
I know not very scientific 35k to 40k different
I am 1120 at them moment again daft not very scientific are looking for 1800 to 2000How much lower than market rent are you? How much lower than market price was the offer?
The Daft data is skewed to new lettings, you'll find that most existing tennancies are below this, and in many cases well below.Compared to Daft at the time
The daft rent is the market rent.The Daft data is skewed to new lettings, you'll find that most existing tennancies are below this, and in many cases well below.
True, but with volumes at record lows, it's reflective of a small segment of the overall rental market. Lots of landlords feel hard done by because rents they were happy with a few years back are now below the inflated headline rates they're seeing in the media.The daft rent is the market rent.
They are not inflated. They are the market price!the inflated headline rates
They are inflated above what you would expect in a healthy rental market with much greater supply.They are not inflated. They are the market price!
its not unfair, its unconstitutional but no one has the money or organisational wherewithal to take it on.This seems very unfair to me,
The media quote the Daft data as indicative of the average rent. The RTB produces a rent index which is based as followsThe Daft data is skewed to new lettings, you'll find that most existing tennancies are below this, and in many cases well below.
Not to my knowledge.Does any agency produce a survey of the actual average rent paid by tenants in our large cities and towns?
No, and even the RTB seem to struggle to manage the data that's provided to them.Does any agency produce a survey of the actual average rent paid by tenants in our large cities and towns?
Of course they do, they know it's not truly reflective of reality, but the crazy numbers make much better headlines.The media quote the Daft data as indicative of the average rent.
That's interestingI heard anecdotally of a solicitor who is in a consortium looking for these sorts cases - a property that where they can make a below-market cash offer for, based on rent that's stuck way too low. They refurbish and either rent out/sell based on much higher rents achieved afterwards. So, not a consortium but there are groups out there looking to take advantage.
In this case, I'd be worried if a corporate entity seemed to be taking over the block at some point they'd just want to own the whole place. Once they have control of the management board, they might decide to find ways to pressure the last 10 - 20% of owners to sell out e.g. increase the service charges using some creative accounting that doesn't affect them (they might switch management agents to one that they own), and so on.
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