If you look at local rentals online, there are often overpriced flats with minimal space crammed in to poorly converted properties to be seen. But I wonder if one I saw today hits a new low — one room approximately 3 metres square (bed, washing machine, electric heater, minimal cooking facilities) plus shoehorned shower room, in a property apparently opposite the Salisbury, for rent at £1,500 a month plus council tax and bills. Am I just being naive in seeing this as shameful exploitation? (There’s a long link on Rightmove or a short one at https://propertyloop.co.uk/properties/kJVsGGZF )
I think the 'HOME' decoration propped up on the electric hob might be adding insult to injury!
It’s OK, though — according to the blurb, the advertiser, “Abi”, is going to provide a complimentary bottle of wine for all “guests”......
And there's free parking on the street. How's that work ?
"Once in a lifetime experience" too, don't forget !
I feel sorry for any younger people who have to throw £1500pm into a landlord's bank account. Years ago, at least a reasonable wage could get you a mortgage on a hovel, but no more. Now sadly, the 'sandwich generation' are doomed to a life of excessive rent with little hope of owning their own roof.
It’s money laundering
How would this work theoretically?
The landlord buys a building, renovates it, splits it into as many flats as possible, overcharges on each unit then uses a patsy to rent the units and takes cash rent payments which are actually from a criminal source?
I don't know why anyone would actually rent it. There are places on quieter streets not so far away where you can get a much more spacious one bedroom flat, with separate full bathroom, kitchen and living room for hundreds less per month.
On green lanes its usually either a tax dodge or a way to clean money - that's why it's that high. To get the money through quicker
.....and your evidence for that is?
I'm thinking that too! The flat upstairs from me (maisonette on a council estate just off West Green Road) was let for £1200 a few years ago. Not sure if they are still paying the same.
The flat above mine, in Hornsey, went down in price recently.