Renting

[Sheila]

I've just seen a one bedroom flat in our local village advertised for £795 per month.  How on earth do people afford to rent?  I think maybe our baby boomer generation have been lucky to be able to own our own houses.

[dextrous63]

Suppose you need to compare it to the cost of a mortgage.  That rent will also cover things like insurance, maintenance costs amongst other possible things that the landlord will have to cover.

One of the flats that we own goes for £695 pcm.  Our letting agent wanted us to put it up by about 10% when the tenancy renewal came up.  We declined since we felt it'd be unreasonable on the tenant who will already have been squeezed by all the other recent rises in living costs.