17 Reasons Your Rent Is Too High

Ever feel like you’re getting ripped off for the roof over your head? You’re not alone. The average private renter spends 40% of their income on rent.

1. Every Monday and Tuesday, you’re working just to pay off your landlord’s mortgage

As if you don’t already have enough reasons to hate Mondays

2. And where’s your landlord?

CC-BY-SA-3.0 Matt H. Wade at Wikipedia / Via upload.wikimedia.org

3. It all started in the 80s

Back then, a third of the population lived in council houses and rent was cheap.

“Rubiks cube by keqs” by Lars Karlsson (Keqs) - Own work. Licensed under Creative Commons Attribution-Share Alike 3.0 via Wikimedia Commons / Via commons.wikimedia.org

4. When Margaret Thatcher sold off council houses she didn’t build any more

Driving people who wanted a home into the arms of private landlords

5. If you want a job the best place to look is the South East

The Guardian / Via static.guim.co.uk

So that pushes up demand for homes there even further.

6. The sensible thing to do would be build more houses but planning restrictions stop the market responding to demand

The Daily Telegraph / Via i.telegraph.co.uk

Dark green = no new houses

7. Falling supply of new houses has pushed up prices

James Meek, London Review of Books / Via wordpress.com

8. Rising prices attract investors who like things that go up in value

Planet Property Blog / Via planetpropertyblog.co.uk

So houses become more than just somewhere to live

9. Being richer than first time buyers, investors can afford to put down a larger deposit and outbid them

10. Because they’ve paid so much for the house they pass the extra cost on to you

11. But it’s worth it: They now have a captive market of 4 million households

English Housing Survey / Via gov.uk

And two thirds want to buy but can’t afford to

12. Plus, landlords pay no tax on their mortgage interest and make 12 times what they put in

The Guardian / Via theguardian.com

13. And they get to claim 10% of income tax-free for repairs

Generation Rent supporter

which they don’t even need to prove they made

14. Contracts only last 12 months or less, meaning letting agents have regular opportunities to raise the rent

Reaction GIFs / Via reactiongifs.com

15. And because letting agent fees make it expensive to move, it is even easier to rinse you

Let’s see, £100 more a month, or a £1200 cost to move?

16. Politicians won’t take action unless they think you’ll vote for it

Yui Mok/PA Archive / Via huffingtonpost.co.uk

“Did I hear someone say ‘vote’?”

17. The good news is there are now 9 million of us

So they have to listen.

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