The joy of being a landlord

dLockers said:
The bit you are missing though is you could have extracted the capital and equity gains of your current property and bought 5 more.

You are either in the game or on the sidelines; hobbyist landlords aren't good IMO.
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What do you mean? Hobbyist landlords are worse than people who try to create a property empire? We aren't chasing maximum returns. There far too strong a connection between our gains and someone elses loss for that to sit well with me.
 
dLockers said:
The bit you are missing though is you could have extracted the capital and equity gains of your current property and bought 5 more.

You are either in the game or on the sidelines; hobbyist landlords aren't good IMO.
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why does it matter if i own 20 properties or just rent out one i happen to own (i assume that is what you mean by hobbiest?)

all that should matter is whether or not the property is up to code and how i treat the tenants. if i fail on either of those things then i am a bad landlord regardless of whether pro or hobbiest.

(and my experience is if the tenant knows how to play the game all the sympathy goes with the tenant. I dont understand the tenants who seemingly get shafted by these landlords from hell...... i can only imagine (assuming no bias on the reporting) that the crappy landlord has gotten lucky with tenants who do not seem to know their rights, either that or depending on where you live depends on how complaints are treated (thinking about it that seems likely tbh)
 
OCUK guide to buying a house and becoming a landlord in 2023.

1. Don't buy an RTX 4090 or 7900XTX
2. Don't buy an i9 13900K or Ryzen 9 7950X3D
3. Don't buy an PS5 or PSVR 2
5. Don't buy the latest iDevice
6. Don't go on expensive holidays
7. Don't buy expensive cars even on lease
8. Don't buy a Steam Deck
9. Get a better paid job. (This is what I did!)
10. Smile :)
 
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i genuinely do not think i would go out of my way to be a landlord now. we have the flat as it was my wifes, but to actively go buy a rental place?.... naaah i dont think it is for me. i had planned on buying one, maybe 2 more but i think one is enough and only keeping that as its already on the books as it were.

as for the 4090..... i would love one, but i used mining to justify my 3090, but with that no longer worth it - even taking into account it would heat my home office (currently sitting here with pink hot water bottle and my wifes snuggle blanket) a 4090 is way to rich for my blood.
 
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bigmike20vt said:
we almost did that but thankfully 3rd time was a charm.......
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Its strange as the house is in a really good area but the last couple of tennants have been aweful. The ones before the current Tennants (I'm sure but nothing was ever proved) were growing and selling Weed from the house and were always difficult with the agency. These current ones have missed rent payments a couple of times and come dangerously close to reaching the limit before we are legally aloud to give them 2 weeks notice. Late last year they kicked off that a couple of slabs were cracked on the patio saying it was dangerous for their todler so under the threat of Environmental Health (from them, not the letting agency) i had to fork out £2.5k to rip up the patio and connecting path and have it completely re-layed. Not a happy bear. But this is just a couple of examples of whats been going on.

Cant wait to be rid of the hassle to be honest.
 
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cheesyboy said:
Oh good, we can talk supply and demand, and the impact of landlording.

Demand for rentals is increased by fewer properties available to buy (because BTL has caused supply to fall in the owner-occupier market)

Meanwhile supply for rentals is also increased, because more BTLs are in the market.

So far, so neutral.

BUT, in supply and demand, your demand curve shifts when the supply or price of a substitute changes.

Higher property prices cause the rent demand curve to shift upwards.

Hence. Higher rent prices AND higher purchase prices. Thanks landlords, you immoral *****.
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Bitter much?
 
NVP said:
Is it though? Or is it not the population increase? Or the fact kids move out at an earlier age? Or the investment companies buying in bulk? No, it's the boomers, let's blame the boomers. Either way, I think I'm a millennial? I don't know these things.
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The boomer generation kickstarted the obsession with hobbyist landlords due to cheap property. If you managed to catch the coattails of that generation then fine. But it all started then, with all tax breaks etc. and greed of the Eighties generation just in it to make money.
NVP said:
No, I'm providing a property to people who wish to rent.
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lol as if anyone out there in the UK wishes to rent.. That's landlord denial right there.
NVP said:
It's funny how obvious certain people's jealousy is...
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Say I bought something you need for £50. Then when it came time for you to buy it, you could only buy it for £500... you'd be jealous wouldn't you? You'd be even more jealous when I told you I bought five and made £2250 through no work of my own. Even more peeved when I'd offer to rent it to you at an obscene amount? I used to rent a flat in a converted house, opposite a 3 storey Victorian townhouse. I forget the sums exactly, but the couple that owned that sold up after 14 years of owning it. We worked out their house had gone up in value by nearly £70k for each of those 14 years. They spent the profit on a pied a terre in Kensington and a country pile in Cornwall. Of course I'm jealous, because they did nothing special to get that, they were just of the right generation - born at the right time to take advantage of cheap housing and subsequent massive house price inflation.
 
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Noakesy85 said:
Its strange as the house is in a really good area but the last couple of tennants have been aweful. The ones before the current Tennants (I'm sure but nothing was ever proved) were growing and selling Weed from the house and were always difficult with the agency. These current ones have missed rent payments a couple of times and come dangerously close to reaching the limit before we are legally aloud to give them 2 weeks notice. Late last year they kicked off that a couple of slabs were cracked on the patio saying it was dangerous for their todler so under the threat of Environmental Health (from them, not the letting agency) i had to fork out £2.5k to rip up the patio and connecting path and have it completely re-layed. Not a happy bear. But this is just a couple of examples of whats been going on.

Cant wait to be rid of the hassle to be honest.
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Why was your agency bothering them? If they want to commit a crime in your flat so be it. If they were paying rent on time leave them alone and let the police deal with any weed growing or dealing?

The second tenants raised a safety concern with your property, you claim it was a couple of cracked slabs, so why were you so scared they would contact Environmental Health if it wasn’t an issue? Instead you as the landlord rectified the problem.

These seem like complete non-problems that are the cost of doing business as a landlord?
 
bris said:
Bitter much?
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People should be bitter at a system that ***** them over in favour of the wealthiest of society. They should be bitter that their future looks bleak from a young age unless they get a very well paying job. They should be bitter that the standard of living is dropping despite the country being fantastically wealthy.

We've created a society where you have two likely outcome. Be lucky enough to have the ability to play the game well enough to profit from its ******ness or be a victim of it. Countries that have a far better handle on this inequality are much better countries and have a much higher life satisfaction than we do.

We have persuaded ourselves that anyone who doesn't like the system is just bitter or lazy instead of ****** of at a broken system. Its OK though. More and more people will get dragged onto the wrong side of the equation and eventually, perhaps something will be done about it.
 
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cheesyboy said:
Hence. Higher rent prices AND higher purchase prices. Thanks landlords, you immoral *****.
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so when someone gets a short term contract and needs to live somewhere....... or if you go to uni for a few years.............. do you plan on buying a house for that period and then selling again?

you want to call me an immoral **** fine.................. but you are a clueless idiot if you do not see a need for some rental properties.

if you want to be angry at someone then i would suggest those buying houses and letting them sit empty for most of the year are a bigger issue.

some people WANT the added flexibility that being able to up and move on at short notice brings...... others do not want to have a 6 figure debt tied to them. I rented for 3 years after getting my job because i was unsure what i wanted to do with myself and the last thing i wanted was the baggage of a house and mortgage (and that is excluding the 3 years i rented at uni)

I DO agree with you that house prices are insane now....... but there were plenty of rental properties back in the day when house prices were lower so am not sure you can blame the house price explosion on rentals.
 
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Scam said:
The boomer generation kickstarted the obsession with hobbyist landlords due to cheap property. If you managed to catch the coattails of that generation then fine. But it all started then, with all tax breaks etc. and greed of the Eighties generation just in it to make money.
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So nothing to do with population increase, or any of the other reasons I listed? How interesting.

Scam said:
lol as if anyone out there in the UK wishes to rent.. That's landlord denial right there.
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see:
NVP said:
I rent properties to foreign workers who need temporary housing, to fresh immigrants who need to rent whilst saving to buy, to a young family who move to the city for the guys new job, and currently one is rented to a family of Turkish asylum seekers (a judge and a dr) being paid for by their family friend because they don't have their own place either.
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GaryTheSnail said:
Come on then landlords. Give us all a breakdown.

Tell us how many properties you have?
How much did you mortgage them for?
How much your mortgage payments are?
.. and how much the renters are paying?

Lets put some figures into the light.
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I have 20, 16 personally and four in Ltd companies the 4 in the companies are paid off as I couldn't get interest only on those. 3 have recently been sold as they became vacant (not included in the 16) I have made 180k less corporation tax on those 3, remember I have had them for 20 years though.

Bitter ***** because of this can go cry elsewhere, this was always an investment, do you call Elon musk, Bill gates or anyone else scum because they are billionaiers?

So yes My retirement will mean I don't have to struggle which is what everyone wants right?

I was lucky, as I already explained I was there at the right time when banks were literally giving away free money.

I could in no way do that in these days.

As for rents I have never increased my rents, my long term ones I get the council to pay me direct, they are all under what I can get private but they are peoples homes and I'm not kicking anyone out their home, whether you bitter ***** believe that or not.

The other ones average about £650 a month but thats very low and they would go up when a tenant leaves, but as I said im selling now.

So like I said who the **** cares what you think
 
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