The joy of being a landlord

[bigmike20vt]

Sigh, hell of an over reaction. Completely ignored everything ive said in this thread to start off with and then run with your own narrative. Also i never said anything about LHA's selling housing stock to make a quick buck, like the landlord making a quick buck now i quess....

I have no issues with housing being sold as long as there is sufficient housing to replace that which is being sold on. The problem is the LHA's sold thier stock and nowhere near enough replacement LHA properties or FTB homes are being built because we are now reliant on this stupidly propped up market that is the housing market.

I dont get your points other than being offended by something i didnt say?

whilst i have not read all of your posts the ones i have read have made it very clear you are not up for an honest conversation on it anyway your mind is already made up about the evils of owning more than a property.. but you go ahead and pee all over landlords......

but no i dont think it is an over reaction to what you said.... all the BS on this thread about the selfish landlords etc its all attacking the small fish because they are the easy targets.... if you REALLY wanted to make a difference it is the massive business you should be taking your outrage to.

 

[Zenduri]

whilst i have not read all of your posts the ones i have read have made it very clear you are not up for an honest conversation on it anyway your mind is already made up about the evils of owning more than a property.. but you go ahead and pee all over landlords......

but no i dont think it is an over reaction to what you said.... all the BS on this thread about the selfish landlords etc its all attacking the small fish because they are the easy targets.... if you REALLY wanted to make a difference it is the massive business you should be taking your outrage to.

Ok so here we go...

"As much as I want to urinate in the face of some of the people posting here due to their responses"

This is called dry humour, and its aimed NOT at people solely because they are Landlords but at the people in this thread that ARE landlord AND have a lousy attitude.

whilst i have not read all of your posts the ones i have read have made it very clear you are not up for an honest conversation on it anyway your mind is already made up about the evils of owning more than a property

I think i've been reasonably fair with my thoughts. Yes landlords are needed in the form of LHA's for those who either dont want to buy or cant afford to but i strongly believe we shouldnt be profiteering as private landlords by holding housing stock and forcing high rents which negatively effects a large sum of people forcing them out the market and it only benefits and enriches the landlords.

all the BS on this thread about the selfish landlords etc its all attacking the small fish because they are the easy targets.... if you REALLY wanted to make a difference it is the massive business you should be taking your outrage to.

I think anyone complaining about landlords hoovering up properties, enforcing high rents and pricing people out the market is systematically a problem for large private business' and individuals a like. big business or individual with multiple rental properties, they should all be treated the same and draw the same ire. If anything it seems you appear to feel victimised by people tarring you with the same brush as bigger companies in the landlording scene and i cant say i feel sorry for you if thats how you feel. I feel more for the people progressively getting priced out the market and forced to rent


Having said that according to all the landlords here and how they portray themselves they are all “charging lower than the market rate” to their tenants because they are so “kind, caring, gracious and charitable” so i would understand why they wouldnt want to be likened to companies that hold multiple properties, profiteering from the rents and the increasing value in a broken housing market partly caused by them. I would feel insulted if i was likened to these companies too......

 

[Scam]

You whinging that you didn't read the rules again?

Only our government could have come up with a saving scheme that actively loses FTBs money. *tinfoil hat* It's almost as if they did it on purpose..

I could definitely do with that extra 25% now I'm at the sharp end of my renovations

 

[bigmike20vt]

Having said that according to all the landlords here and how they portray themselves they are all “charging lower than the market rate” to their tenants because they are so “kind, caring, gracious and charitable”

i dont think anyone said that either. i have a decent tenant so have been happy to keep the rent frozen despite costs increasing ......... which to me seems a win win for all. I dont expect a tenant to treat a rental exactly as they would their own... but i do expect a basic level of respect treated too it, just like i respected the properties i rented. Having had a couple of scrotes, having a decent tenant is someone worth looking after.

 

[Zenduri]

i dont think anyone said that either. i have a decent tenant so have been happy to keep the rent frozen despite costs increasing ......... which to me seems a win win for all. I dont expect a tenant to treat a rental exactly as they would their own... but i do expect a basic level of respect treated too it, just like i respected the properties i rented. Having had a couple of scrotes, having a decent tenant is someone worth looking after.

I really dont want this to seem like im railing on you but you and 2 others have both used the lines "we havent raised the rent for x years" or "we are charging below market rate" and it comes across as virtue signalling.

Also if you can afford to keep the rent static while costs increase it also means there was enough profit being made on the static rent to cover an increase in costs.This then spits in the face of the whole "im not increasing rent because im a nice landlord" because you have potentially been milking the tenant for more than the mortgage value. I doubt very many people would be subsidising a tenants rent payment to cover the mortgage...

 

[bigmike20vt]

I really dont want this to seem like im railing on you but you and 2 others have both used the lines "we havent raised the rent for x years" or "we are charging below market rate" and it comes across as virtue signalling.

Also if you can afford to keep the rent static while costs increase it also means there was enough profit being made on the static rent to cover an increase in costs.This then spits in the face of the whole "im not increasing rent because im a nice landlord" because you have potentially been milking the tenant for more than the mortgage value. I doubt very many people would be subsidising a tenants rent payment to cover the mortgage...

oh FFS ok then. have it your way. agency has been banging on us to put the rent up. if we do that we are monsters not taking into account cost of living. don't do that and we are monsters because we were ripping them off before. as for virtue signaling...... you can do one there as well frankly. if a tenant thinks we are over charging they are free to leave and find a better landlord or council supplied housing.
I don't need to justify my costs to anyone on here. I chose to in the interests of fair discussion which clearly you do not want.

if you can find a landlord prepared to loan youa 300k property making no profit whilst also covering all wear and tear then more power too you. I think you will struggle however

as for why we need to make some profit. our 1st 2 ****** Tennant's between them cost us 4k of damage we had to repair . that is years of "profit" made from good tenants. I am not operating as a business, ultimately the lad will probably go to our lad to live in... but I do not intend to make a loss

 

[ddoubleep]

I just fired my letting agent after 6 years. They've not provided any value in that time beyond the initial finding of a tenant. Wish I'd done it much sooner.

How did they take it? Is the initial tenant they found still remaining in the property? I was renting and the landlord tried to cut out the estate agent after the initial 12 month contract and was point blank told he could not as I had come in via the estate agent and kept taking his 10% or so for doing nowt. I was on a rolling tenancy agreement before I left but thought it was odd the estate agent was getting paid for not doing much apart from handing my rent over.

 

[JonRGV250]

"we havent raised the rent for x years" or "we are charging below market rate" and it comes across as virtue signalling.

By far the most idiotic post in this thread, and that's saying something.
Mind you, looking at the posters previous, it's really not surprising.
You literally can't win with these kind of people.

 

[Zenduri]

oh FFS ok then. have it your way. agency has been banging on us to put the rent up. if we do that we are monsters not taking into account cost of living. don't do that and we are monsters because we were ripping them off before. as for virtue signaling...... you can do one there as well frankly. if a tenant thinks we are over charging they are free to leave and find a better landlord or council supplied housing.
I don't need to justify my costs to anyone on here. I chose to in the interests of fair discussion which clearly you do not want.

if you can find a landlord prepared to loan youa 300k property making no profit whilst also covering all wear and tear then more power too you. I think you will struggle however

No need to get angry about it. Look if anything i commend you for not putting the rent up when you could, as the vast majority would, but you cant pretend to be the untainted in this scenario.

Your tenant sounds like they might be like me. My rents below market price (partially because of the area and that work is needed on the house) and ive been here years and im low risk as tenants go but if i moved my rent would be 50%+ on top of what im paying. Plus my landlady let slip the other day how much the mortgage is and its stupidly cheap compared to what im paying. Im essentially trapped here so i dont ***** more money on someone elses asset or provide them with more profit. No-one in their right mind would willing spend more money on rent unless they have to.

Also no-one is loaning me a property. Im paying for their asset to keep a roof over my head so i can work because housing prices are retarded in some small part due to landlords. its a contractual exchange and regardless of what happens to the property and any wear and tear there is a high chance the house would be worth more than anyone bought it for because "time going by = worth more" thanks to the broken market

 

[Zenduri]

By far the most idiotic post in this thread, and that's saying something.
Mind you, looking at the posters previous, it's really not surprising.
You literally can't win with these kind of people.

How is it idiotic. Literally every time its been used has been a qualifier to counter the general opinion that landlords are exploiting prices and people by essentially saying, "im not like them i havent raised my rent" while also participating in the problematic house hoarding market.

Also please elaborate on "these type of people". Is this someone who doesnt want to be overcharged and exploited for anothers financial gain through the need for housing but instead would want to be more financially secure in their own home?

One thing we can probably all agree on its blatently obvious who are the landlords and who are the tenants in this type of discussion.

 

[bigmike20vt]

No need to get angry about it. Look if anything i commend you for not putting the rent up when you could, as the vast majority would, but you cant pretend to be the untainted in this scenario.

not really angry.... more exasperated.
as for being untainted.... that would mean i would have to think there is fundamentally something wrong with renting out the property.... .. and this is where we will never agree. The property is ours - well all by 25k of it. it was ours - all bar 60k of it when we started renting it out. Could i have sold it, sure (my wife wanted to and we kept it on the condition she has nowt to do with it).... but had i of done that i would have lost a fortune in taxes and that is assuming no increase in its value (which lets face it properties increase over time - or have done for the last god knows how long) and i would never have been able to buy it back again for our lad which is what we intend to use it for at least if he wants it for a while.....
so i held onto it as i feel completely justified in doing.

anyway i really am done on this now with you as we will go round and round and are never going to agree.

 

[mattx4]

One thing we can probably all agree on its blatently obvious who are the landlords and who are the tenants in this type of discussion.

Right now I'm both. I wish there were more landlords where I am currently because there's not much choice. I was lucky to get the place I'm in currently because 7 other people applied for it the day it came up.

Yes the landlord makes money off me and I don't care I'm using his long-term asset for my short term needs

 

[Zenduri]

not really angry.... more exasperated.
as for being untainted.... that would mean i would have to think there is fundamentally something wrong with renting out the property.... .. and this is where we will never agree. The property is ours - well all by 25k of it. it was ours - all bar 60k of it when we started renting it out. Could i have sold it, sure (my wife wanted to and we kept it on the condition she has nowt to do with it).... but had i of done that i would have lost a fortune in taxes and that is assuming no increase in its value (which lets face it properties increase over time - or have done for the last god knows how long) and i would never have been able to buy it back again for our lad which is what we intend to use it for at least if he wants it for a while.....
so i held onto it as i feel completely justified in doing.

anyway i really am done on this now with you as we will go round and round and are never going to agree.

Look im not here to fall out with anyone. We all have to appreciate other view points and situations. If you are going to pass it on to your lad and not just using it as an investment to earn money then it does change things a bit.

My main issue is that the housing market is broken as ****, there is excessive exploitation by business' and private landlords -plus ,as a renter, and based on some of the responses in this thread its kind of sickening to hear some of the justificaitons and comments some people come up with while not considering the position so many renters are put in often through no fault of their own. (This isnt aimed at you at all)

Im about to tap out of this thread too anyway

 

[JonRGV250]

not really angry.... more exasperated.
anyway i really am done on this now with you as we will go round and round and are never going to agree.

Same here mate.
These people drag you down to their level of idiotic thinking and try to beat you with experience.
Utterly pointless continuing to converse with them, it’s like talking to a petulant child.

 

[Zenduri]

Same here mate.
These people drag you down to their level of idiotic thinking and try to beat you with experience.
Utterly pointless continuing to converse with them, it’s like talking to a petulant child.

In all fairness you've not offered anything meaningful to the debate other than try to be sarcastic in multiple posts and then insult people and ignore them when they ask for clarification on the below par insult so i dont think you would be missed from the conversation

 

[dlockers]

By far the most idiotic post in this thread, and that's saying something.
Mind you, looking at the posters previous, it's really not surprising.
You literally can't win with these kind of people.

How many houses do you own? You are acting like the spokesman lol. If it's anything under 3 I'm going to lol even harder.

 

[Devilman]

Same here mate.
These people drag you down to their level of idiotic thinking and try to beat you with experience.
Utterly pointless continuing to converse with them, it’s like talking to a petulant child.

Or like listening to self-righteous, self-important greedy ****wits with no consideration of the situation(s) of others.

 

[Devilman]

*Grabs Popcorn*

 

[Bald-Eagle22]

Well you will be glad to know that landlords like me will be selling up in there millions soon.

I have housed 16 families for the last 20 years, didn't have a pot to **** in but it was at the time the banks were throwing money at small business like mine(retailer) where they even worked a different loan for the deposit.
I basically got my properties on interested only mortgages for practically nothing up front apart from broker and bank fees. PS in case you didn't know, this reckless lending is what caused the massive crash in 2008.
Whilst I have never missed a payment tens of thousand took the money and ran, I was small change, the defaults were from huge companies.

12 of those families have been with me from the start, the other 4 are the only ones that pay their own rent, the others get everything paid for them but that doesn't make them bad people.

I am now selling when they become vacant, I wont be evicting anyone (you can if your selling) just waiting on them leaving.

Bottom line though is the government have shafted us over the years, its now at the stage where we cant put interest on the loans through as a business expense as well as other penalties so it's simply unaffordable now to let properties.

In Scotland we have had the forever leases for years, it's just been introduced in England, which means you cant evict anyone unless they are in months of arrears, even then it takes a year to get an evection order.

So those LL's in England are simple evicting or selling up when a tenant leaves.

There will be a massive housing shortage in the next 2 or 3 years and it's already started, there is a reason rents are so expensive just now and that's because of lack of LL's like me. it's supply and demand

So yes if you Rent and complain about LL's then get a mortgage, if you cant get a mortgage then be thankful there is LL's like me, but no you just complain because you cant get a mortgage and have to rent, well that's your fault no one else's

You need someone to blame? Well Thatcher is to blame, she sold everyone their council homes on the cheap so getting a council home is near impossible. Most of those homes that are sold are now rental properties.

With you on this Bris . I’ll be selling 1 next month .


Just getting impossible to make a profit if you have a mortgage on them , thankfully when I sell one I’ll be clear on the other 2 . I’ll them be maximising rents .

 

[dowie]

I view lack of supply as a total red herring in this argument. What good is a new-build flat that is out of reach of the average FTB? Because most of them are. All building more does, is put more investment opportunities into those that already have the capital/are far enough up the ladder to invest and rent them out.

Why do you think they're out of reach in the first place?