What do tenants want?

[geared]

Do you really believe you can get quality tradesmen to work for £10 per hour?

Do you really believe that your figure of £500 for a large plot of land suitable for a semi is anything but a stupid dream?

Do you have any idea of the cost of raw materials for building? (– Do you think for a semi it could be 30, 40, 80K, …?

 

ooh I know the answers to some of these questions, can I help??

 

1. No

3. My friend is running a budget of 100K for just the build on his place (3 bed detached) the budget isn't looking great.

 

2. Even if the land is free (from family) the council might want a cut.

 

My friend has to pay (bribe) the council 70 grand because he can't build a council house on the plot of land.

 

Mainly because A: obviously they can't afford it, and B: there isn't room anyway.

[Moonbird]

It would depend how bad next door was, if the people were ok and it just needed a bit of work I wouldn't care...but if it was infested with fleas or mice or such like I wouldn't want to be next door as they come through.

 

Space is important as is cleanliness, but mostly I think a good,fair and reasonable landlord means a lot.

[Cyclone]

Less than 25% of income.

 

This definition has been tinkered with, some are now saying 30%, some others are saying 35%.

 

I'd say 20%.

 

But there are other ways at looking at it. Less than 1000 hours of labour in the provision of materials and construction of a house.

 

At a generous rate of £10 per hour, we'd be looking at £10 000 max. With a land cost of £500 for a 3bed semi with large garden, we could be looking at 1 years salary for a minimum wage worker allowing a fairly high profit for the developer.

This however assumes a free market and a relaxation of planning.

 

It also assumes that land is practically valueless and that housing materials are practically free.

[mlfc]

I've rented plenty of places, the winners always were:

 

Clean house

Decent Kitchen

Decent bathroom

Location

 

I've viewed so many places that needed renovation, or clearly had some issues and the landlord is still trying to rent it out.

Mouldy bathrooms are a massive no-no, as are skanky kitchens.

 

Gardens aren't really a plus point, in fact alot of the time if there isn't any grass it's abit better because the tennants don't have to worry about having it cut.

 

This just about sums it up. I would add that good transport links eg near tram line and/or frequent bus routes would be good. Also good schools but that might push the buy price up although rents tend to be higher in good catchment areas

[Jeffrey Shaw]

if you are letting house I don't think the condition of the next door property will matter to much. tenants want a nice clean house with up to date kitchen and bathroom and a good landlord who acts on any problems immediately

I agree. The only problems might be bad behaviour by the neighbours.

Are they owner-occupiers or tenants?

[chem1st]

Your posts are so far left and so unreasonable – they are almost funny.

This post is ludicrous and ridiculous beyond belief.

 

Allowing people to build their own houses is not 'leftist'.

 

Do you really believe you can get quality tradesmen to work for £10 per hour?

 

Yes.

 

Do you really believe that your figure of £500 for a large plot of land suitable for a semi is anything but a stupid dream?

 

No, land big enough for a semi can be purchased for this price, with a garden bigger than 90% of new builds.

Land with planning permission costs some 50 times more in the poorest areas.

Abolish planning permission and we can reduce the cost of building massively.

 

Do you have any idea of the cost of raw materials for building? (– Do you think for a semi it could be 30, 40, 80K, …?

 

I'm not on about current inflated prices. In a capitalist society, we would be bringing the cost of building down. Down towards the cost of the labour required to produce the materials.

 

To answer the op question.

I believe tenants want different things:

A student wants different housing and furniture than a single mum.

I think it goes without saying - most people want to live in as nice a house as they can afford. (Clean, warm/as economical to run as possible, dry, safe and in their chosen location.)

You need to chose your tenant market (student, Dss, single mum, professional etc) then purchase accordingly.

I would only consider purchasing the house you mention if it is cheaper.

Do not listen to people like chem1st - because as a landlord you will be the Devil.

 

Most people who are tenants, do not want to rent from a private landlord. They want to rent social housing or buy. Because the tenant has greater rights as a tenant if he rents from an approved social landlord or from the crown.

 

---------- Post added 28-01-2014 at 18:53 ----------

 

It also assumes that land is practically valueless and that housing materials are practically free.

 

The 1000 hours of labour is the provision of the building materials and the putting of them together.

 

Land without PP of a size suitable for a house for under £500.

 

---------- Post added 28-01-2014 at 18:58 ----------

 

lol.........

 

What is funny is that all the mugs on here think it is acceptable to pay many many times over the odds for a house and still be a tenant.

 

They'll try to convince others that to trade 25000 hours of labour for something that didn't even take a 1000 hours to produce is a 'good deal'.

 

Complete mugs living in la la land.

[Uhtred]

Thanks for all your feedback. It seems a good landlord is the most wanted thing.

 

The house is apparently lived in by an elderly recluse who isn't seen very often.

[geared]

I'm not on about current inflated prices. In a capitalist society, we would be bringing the cost of building down. Down towards the cost of the labour required to produce the materials.

 

We can control and reduce the cost of materials??

Many of which are sourced from other countries?

[tallanddopey]

from my experience bathroom and kitchen are at the top of the list of wants. the last house we rented out needed the bathroom updating and we put it off but ended up lowering the rent by £50 a month, which by the end of the year is nearly the price of a new bathroom suite.

 

mostly for renters the location is important though. schools, transport links etc. these will have tenants lining up to rent as long as its clean and tidy.

 

I would say that most tenants treat a house by the condition its in, a really nice house will often mean that the tenants will treat it well and keep it clean. however if you show that you dont care very much the tenants may not care either.

[999tigger]

Depends on what sort of tenant as to what they expect.

 

But clean and simple is fine. White paint. Dont over decorate.

Decent electrics and white goods.

LL who are friendly and less money grabbing. Not nosey and respect the fact for the time you rent its their home.

 

Having a good tenant i.e reliable, doesnt do s runner, responsible, doesnt cause problems is importnat. Means you arent constantly reletting or getting complaints.