The joy of being a landlord

fez said:
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 shittiness 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.
Click to expand...

You should spend more time reading instead of spouting communist propaganda
 
tlrBeta said:
Pretty much - people making money or having some form of money is the number one enemy of those in SC.
Click to expand...

You're making the mistake of thinking that people with money don't think the system is **** as well. I have a nice house we live in, we have an even nicer house we rent out and both of us earn good money. Doesn't mean I don't think this country is currently a mess.
 
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.
Click to expand...
1 property
25k left on mortgage (we can pay it off if interest rates go up much more)
mortgage payments are in region of £350 a month
rent is £650 per month (which means nothing without context.... but its a large 1 bed flat within walking distance of Cambridge city centre - and yes its massively under charged)
that £300 a month profit goes fully into an account where it covers the maintenance of the property, any repairs as well as the tax we get charged.

over all it just about covers itsself so we dont make on it, but we do get our mortgage paid off....... am i meant to feel guilty for that? if so........... I dont!.
 
bris said:
So you think people who work hard to achieve what they have is wrong then? You are just a jealous bitter **** because you didnt have the brains to do what other people do to get ahead in life.

I worked for what I have, I even became gas safe registered and a domestic electrical installer so I didn't have to rely on anyone, this came about because getting gas engineers and electrician to fix boilers , problems etc was always dam near impossible

Now I can be at a problem within an hour.

I am not just a good LL I am a great one but I don't actually care what anyone thinks as you have already tared us all with the same brush.
Click to expand...

You care so little that you are massively emotive about this topic and very dismissive of anyone else with a slightly different view to you.

Loads of people work really hard. There is some weird idea around what people put in and what people get out being a tightly coupled equation.

I have no issue with people working hard for what they have. I think that people deserve to be rewarded for it. The issue is that so many people are not.

As to being a "jealous bitter (I assume a lovely word here)", I have 2 houses, a good job, my partner has a good job and last year I paid more tax than you made on all your property sales. I'm doing OK thanks ;)
 
fez said:
You care so little that you are massively emotive about this topic and very dismissive of anyone else with a slightly different view to you.

Loads of people work really hard. There is some weird idea around what people put in and what people get out being a tightly coupled equation.

I have no issue with people working hard for what they have. I think that people deserve to be rewarded for it. The issue is that so many people are not.

As to being a "jealous bitter (I assume a lovely word here)", I have 2 houses, a good job, my partner has a good job and last year I paid more tax than you made on all your property sales. I'm doing OK thanks ;)
Click to expand...
Slightly different view? I was, not personally because at first no one knew I was a LL

It was not a slightly different view was it.

I was attacked personally as scum because I am a LL, thats not a slightly different view.
 
NVP said:
So nothing to do with population increase, or any of the other reasons I listed? How interesting.
Click to expand...
Given there are currently 257,331 long term empty homes in the UK - no I don't think it's anything to do with population increase. It's also not anything to do with a "shortage of land" in the UK which is a total fallacy as well.
bris said:
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
Click to expand...
Elon Musk, Bill Gates et al have actually contributed something to society. Sticking some money in an "investment" when it was cheap, thus removing availability from the market, making the market situation worse, and charging would-be buyers for the privilege is hardly the same. You can't complain people are bitter, then gloat about being there at the right time when money was being given away.
bigmike20vt said:
over all it just about covers itsself so we dont make on it, but we do get our mortgage paid off....... am i meant to feel guilty for that? if so........... I dont!.
Click to expand...
Assuming you've rented it out since you bought it - how much was your deposit, the price you paid and the current selling price?

Oh, even if you don't rent you're still putting your hard-earned tax into their pockets; https://www.theguardian.com/society...-taxpayers-national-housing-federation-report Let's all prop up. a broken market, make a select few lucky ones rich just because... :o
 
Last edited:
As much as I want to urinate in the face of some of the people posting here due to their responses, I’ll try to keep this as reasonable as I can.

Some of the biggest issues with renting is that often the monthly mortgage cost is less than the monthly rent cost for the exact same house. The problem is that due to being either being priced out the market due to dwindling FTB properties then pushing FTB prices upwards or people being unable to save for a deposit while paying rent as well.

I use myself as an example. Working class background, no inheritance coming my way or family assistance, I work fulltime, earn a bit under the "average wage" of £33k. I rent, in a bit of an iffy area in a bit of an iffy house. I'm saving for a deposit but the amount i need to save goes up every year as house prices go up and housing stock is hoovered up by landlords and no new housing stock is built in any great number. I’m therefore fighting an uphill battle already. My rent covers my landlady’s stupid cheap mortgage + profit and it's cheapish for the area but in m,y opinion its only really due to the fact that I’m a stable tenant and if anyone else moved in they would want work doing on the house which would mean increasing the rent and costs plus the risk of an unstable tenant. She isn't renting it to me for cheaper than market rate out of the goodness of her heart, she’s renting it out because i dont complain when I probably should and she’s still making money off me while I pay for her asset. If I complained about things and demanded work doing, she would jack the rent up which would then mean it effects the money I can put aside for a deposit plus I’m spunking away more money a month on rent. It's therefore NOT in my interest to upset the applecart.
I could get a mortgage on similar properties to the one I’m in and it would be cheaper than my rent, the issue is the never-ending deposit chasing. The sole issue for me not getting a mortgage is down to the deposit requirement which keeps ballooning each year and then the prices being systematically pushed up by BTL landlords and a lack of new housing stock.

To all those virtue signalling about not charging market rates or increasing rents. That’s just cope to make you feel good. Simple fact is you have someone else paying for your property which is a property that could be enriching someone elses life and elevating them in their social and economic outlook but instead they are spunking money away for no financial or economic gain for themselves.
Landlording is simply a means to profit from others while standing on the shoulders of others. It takes from society without giving anything meaningful back. It continues and in some cases, worsens, the class divide we have in the UK. No-one will ever build enough houses to meet the FTB market demand because its too profitable not to build them and it would tank the housing market if the supply increases.

Finally, am I against people making money and profiting in a capitalist society, of course not. However, I am against it for something as basic and as necessary as housing.

In response to people that will undoubtedly post “ahh your being envious or jealous” I would just say…. your response denotes the kind of person you are even if you are “charging lower than the market rate” to your tenant because you are so “kind, caring, gracious and charitable”. If anything im frustrated and angry at the state of the housing market and i dont care if you personally have 1 or 15 properties
 
bris said:
Slightly different view? I was, not personally because at first no one knew I was a LL

It was not a slightly different view was it.

I was attacked personally as scum because I am a LL, thats not a slightly different view.
Click to expand...

You won't please all the people all the time. Most reasonable people understand that there is a wide spectrum of landlords from the good to the bad to the ugly. If you are one of the good ones then I wouldn't worry about what people are saying on an anonymous forum.

There is a need for landlords and there always will be. The issue is that the housing market and its growth in value and lack of increase in size to serve the demand has led to a situation where its very lucrative for bad landlords to profit massively. We have incentivised people with available capital to hoover up homes and then push the job of repaying those home and pay a salary to the landlords.

I personally really feel for the younger generation who are paying insane rents and have little hope of being able to buy in their 20s/30s if ever due to greed.

Its not a case of all landlords being scum... but some are. Same as tenants.
 
Scam said:
Given there are currently 257,331 long term empty homes in the UK
Click to expand...
It seems you didn't read your article:

It’s not quite as simple as repossessing empty homes and giving them to families in need, though. Many are old, in need of investment and aren’t currently ready to be lived in.

Bailey said most long-term empty properties were Victorian and Edwardian terraced homes that are difficult to insulate. But, he added, this doesn’t necessarily mean knocking them down is the best course of action.
Click to expand...
 
Zenduri said:
I'm saving for a deposit but the amount i need to save goes up every year as house prices go up and housing stock is hoovered up by landlords and no new housing stock is built in any great number.
Click to expand...

This is the fundamental issue. Its a broken system where the amount you are saving is being killed by the amount a house is going up in value. The only reason it hasn't completely broken is because a deposit is only a fraction of the house price. i.e. You need a 10% deposit on a £500k house and its value goes to £550k you only need to find £5k to hit that 10%.

It will continue as long as people will suffer it. I don't know how much higher house prices can go but I thought they couldn't go any higher 10 years ago. And 15 years ago...
 
You must log in or register to reply here.
Back
Top Bottom