The joy of being a landlord

[Quartz]

I've come 500 miles to inspect my home I have let out. And the agent doesn't have the right keys. That's three days and a lot of money wasted. Travel, hotel bills, meals.

Tell me about the joys of being a landlord again, someone, please? You know, how it's the route to megabucks?

 

[Yaayuh!]

LOL

Why do you not have your own keys? Agents are notoriously crap at doing pretty much every part of their job.

 

[Megahurtz400]

I get it isn't smooth sailing and isn't a licence to print money at all, but when so many young people struggle to afford a home in the area they are based in, it makes it hard to break out the violin for someone who has one they can make money from.

But alas, at least it looks like letting agents are useless for both tenants and landlords alike!

 

[JonRGV250]

Well, this thread will get the landlord haters frothing and soiling themselves.

 

[Freefaller]

If you were travelling all that distance I'm surprised you didn't take your keys with you?

Whenever we go to ours we always take our keys - but let the tenants know we're coming, but we have a good relationship with them (hence why they've been there for over 3 years so far).

 

[Freakbro]

Yea, I have my own set of keys to my old house I rent out, seems odd you wouldn't have.

 

[Quartz]

If you were travelling all that distance I'm surprised you didn't take your keys with you?

Whenever we go to ours we always take our keys - but let the tenants know we're coming, but we have a good relationship with them (hence why they've been there for over 3 years so far).

They've changed the locks over the years

 

[Freakbro]

They've changed the locks over the years

And you didn't ask for a new set of keys at the time?

 

[Jono8]

Imagine expecting anything approaching competency from estate/letting agents.

 

[Skilid]

Why do people use agencies? They're all crap and take 10%. Do you have some form of protection with them? If I owned I'd rather rent directly to someone and save both of us the cost. Or am I being naive?

 

[Peter75]

I've come 500 miles to inspect my home I have let out. And the agent doesn't have the right keys. That's three days and a lot of money wasted. Travel, hotel bills, meals.

Tell me about the joys of being a landlord again, someone, please? You know, how it's the route to megabucks?

Megabucks? I keep telling myself its a nest-egg. I'm not so sure, my wife is keen to get rid of it. We also haven't raised the rent in 6 years and it was already very affordable/cheap back then.

One things for sure. I can repaint the property with my bloody eyes closed now. I must have repainted that entire 2 bed room flat around 10 times now.

 

[Freefaller]

Why do people use agencies? They're all crap and take 10%. Do you have some form of protection with them? If I owned I'd rather rent directly to someone and save both of us the cost. Or am I being naive?

It does make it easier if you change your tenants a lot and in terms of dealing with white goods and maintenance... but it just depends on your ability to manage it really.

 

[200sols]

Buy one closer then..

 

[mattyg]

I get it isn't smooth sailing and isn't a licence to print money at all, but when so many young people struggle to afford a home in the area they are based in, it makes it hard to break out the violin for someone who has one they can make money from.

But alas, at least it looks like letting agents are useless for both tenants and landlords alike!

I have the same view on people who have 2 jobs.... With so many people out of work... How selfish of some people to take up 2 jobs.........
Same as business owners really. How dare they run a business that makes them money... Damn tories, Right.




So those young people who struggle to afford to buy their own home, What exactly would they do if they couldn't rent one... You've just said they can't afford to buy.

 

[Rai200]

So those young people who struggle to afford to buy their own home, What exactly would they do if they couldn't rent one... You've just said they can't afford to buy.

They can't afford to buy because they're paying 50% of their income in rent lmao.

 

[Scougar]

Mega bucks when you own a lot of properties, not just one.

 

[Freakbro]

Why do people use agencies? They're all crap and take 10%. Do you have some form of protection with them? If I owned I'd rather rent directly to someone and save both of us the cost. Or am I being naive?

I just didn't want the hassle of dealing with tenants and any issues that arise. Plus with all the new regulations and obligations, at least I know I'm doing everything I should #conscientiouslandlord

I actually use a local one man band type, rather than a firm, who I've known for years so it's quite an informal and friendly 'business' relationship we have.

 

[200sols]

So those young people who struggle to afford to buy their own home, What exactly would they do if they couldn't rent one... You've just said they can't afford to buy.

Renting is often more expensive than a mortgage, the issue is they cant get a deposit because of inflated house prices and cost of living pushing rent prices even higher starving them of the ability to save. It is a self fulfilling circle.

 

[JonRGV250]

They can't afford to buy because they're paying 50% of their income in rent lmao.

Where would they live if they simply can’t afford to buy or are unable to get a mortgage?

 

[Freakbro]

Where would they live if they simply can’t afford to buy or are unable to get a mortgage?

With their parents? #boomerangkids