Soldato
Are you renting in Aberdeen or do you own a property there too?
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Are you renting in Aberdeen or do you own a property there too?
I now own. But I'm not going to evict my tenant while she's paying rent and on benefits.
Soldato
Surely if you now own in Aberdeen you sell up where you were before? Or are you part of the white knight landlord alliance? or does having the tenant enrich your wealth?
Why are you encouraging Quartz to kick out a tenant who is relying on him to provide her home? That’s stupid
Soldato
So earning our own money, pushing to achieve more, sacrificing to do so, allows us, in your opinion, to spend it all on a lavish lifestyle, but not look out for our retirement and want to retire as early as possible? OK.
You enslave yourself and blame everyone around you.
Change is in the hands of everyone. It takes compromise, flexibility, sacrifice and risk to become a business owner, to become a high earner. Anyone could do it. I don't have a degree. I didn't have any help from parents. I took risks, sacrificed things in my life and worked like hell with a clear objective of what I wanted from life. If you don't have that in you, that's not on anyone else. You can't have your cake and eat it. You want more, do what it takes or be happy with what you have because that's your choice.
I don't want to work until I'm 65. My goal I have set out is to make sure I can retire at max 55, ideally 50 and will work my ass off to make sure this is achievable.
You are a truly bitter and this screams entitlement, with a complete lack of work ethic and discipline needed to achieve anything that what you already have.
Get a better job, then.
When I met my wife in 2010 we had a combined income of 28k, so don't give me this BS about "it's not that easy" - it's always going to be impossible if you're not willing to do what it takes, and it's much easier to focus on what "isn't fair" when you aren't willing to be uncomfortable in life to have a better life for yourself. That's on you sunshine.
Soldato
What's he going to do with that money?
Soldato
I'm not, its all tongue in cheek and im trying to steer him to the correct answer which is having a tenanted property enriches his wealth. The majority of landlords in this thread will claim they dont increase rents for 5-10 years and they are the saving grace to the poor and needy. They seem for some reason have the need to tell a story about x tenant on benefits, no rent increases since 1763 and that they are the only virtuous landlord who only got into the landlording game to provide homes for those in need out of the kindness in their hearts.
The true answer is its for wealth and self enrichment and i would have more respect for them if they just admitted that rather than spinning these tales and stories
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Soldato
Given how honest and virtuous the landlords on OCUK are (or at least they claim to be) i would hope they were donating it to charity to help those in need. I somehow dont think this is the case
Soldato
Didn't answer the question though. What's he going to do with it? I would assume it's to make sure that he has a decent standard of living in retirement, so what is he supposed to do with it to make sure that happens for him? Or should he not and simply rely on the state pension to live on in his retirement? Or, should he work until 75 because he has to and everyone else who doesn't plan for the future does, so he should as well?Given how honest and virtuous the landlords on OCUK are (or at least they claim to be) i would hope they were donating it to charity to help those in need. I somehow dont think this is the case
Instead of the vacuous responses, I'd love to know what you would do based on the above?
Soldato
Private pension fund, build a new property on undeveloped land and sell it (which adds to housing stock), invest in the stock market, be an angel investor for a new business to name a few. I somehow think someone sat on a £230,000 (on average) isnt going to be short of a few bob for retirement if they invest it elsewhere other than property
I have a feeling though that landlording is the most stable and more profitable of the options for little work
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Not this year. And only just last year. You seem to object to people making a profit, so I guess you're willing to work for free, right?
Soldato
- Joined
- 23 May 2006
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except that is just some story you made up yourself.
all the responses i have seen , including comments made by me, has been in respond to people calling landlords all sorts of things, that they are just capitalist scum raising rents to the max the market will allow whilst putting good tenants out on the street making them homeless just because they feel like it (paraphrasing).
We have a flat, we rent it out.... of course we want to make a little on the side with it - its a massive chunk of change tied up in it which could be earning elsewhere.
if we sell it the tax man will take a massive chunk again, then we will likely either have to buy one back again in a few years time - or pay rent to someone else - when our lad needs a pad. this would cost us a lot more than just holding on to it.
we dont want it sat there empty (and if it did am sure you would whinge about that). the way i see it, i dont do it out of the goodness of my heart, and i dont do it to screw every last penny out of a poor unsuspecting tenant.
its a symbiotic relationship, if we get a good tenant, we provide a good place to live. A tenant has to pay someone to rent, and the government made it quite clear they were not interested in having a huge rental stock by selling all their properties off (no one forced them to do this). i dont trust them to buy them all back fairly. so if a tenant is gonna rent and pay someone............ it may as well be me, or some other average person with one or 2 properities. the alternative - which some here have said they would prefer - is to just be massive private companies. the government would love this because they are more likely to be donors to their cause... i would rather it be to small private people who care about the property as it is a nest egg for their future.
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Soldato
lol i love how you chop the part of my responses to try and make a point. Even if you make a small loss from rent, the property will appreciate in value greater than the money you "lost". (FYI i dont believe you made a loss)
I dont object to anyone making profit within reason and not by overly exploiting others (since all labour is technically explotiing another but with some recompense, often not equal to the value of labour put in) When I work I get paid for the time I spend and the productivity I output for the wider business. As a landlord you aren't being paid for your time and you dont produce anything
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Really? My flat in Aberdeen has lost around £50k - and that's not accounting for inflation.
Then we're done.
Soldato
The generalised view is yes landlords are in it to make as much profit for themselves, however i have never said all landlord are there to maximise profits and are kicking tenants out on the street to replace them with more profitable tenants... to quote you
I know your situation as you explained this to me before and i believe i said its a bit different if you are going to pass that on to your son and its an investment in a permanant home for him. You DO however have the choice to make profit monthly, on top of the mortgage, and you chose to profiteer on that. You are already technically profitting even if you kept the rent the same as the mortgage as someone else is paying for an asset they dont own, you do and you can flip that at a later date. You would have put for example £50k down but have a mortgage paid off for £200k by tenants and the house would have appreciated in value since you boguht it, so yes you are profiting. In that example, yes you took the risk with the mortgage and renting but you have a hell of a return for doing very little.
If i put down 25% of the value of something and then in x years time was told i now hold 120% of its original value without contributing more than the 25% i put in... thats a good deal to me, even if you sell and the "tax man has his chunk"
Irespect that you are honest that you arent landlording out of the goodness of your heart, you are probably the only one in this thread thats been honest about that so i do in some way admire you for that.
Some may call it symbiotic some may call it a parasitic relationship, it depends how you look at it. One thing i can agree with you is the Gov ****** rentals over years ago and heavily helped to create this mess. In my eyes rentals should be gov ran and owned and not profit/wealth driven. I wouldnt exactly end your comments either with essentially saying you are the lesser of two evils as the lesser of two evils is still evil
Soldato
When property prices everywhere have been going up for years, you, a person with a property in one of the largest scottish cities are the only one to make a 50k loss........
Cmon man.....
Edit: yes i know the City of Aberdeen is its own microcosm for housing and even then its only at most decreased by 9.9% (average) if that, so unless you bought a £500k flat there is no way you have lost £50k
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When property prices everywhere have been going up for years, you, a person with a property in one of the largest scottish cities are the only one to make a 50k loss........
Cmon man.....
Aberdeen ranked worst area to invest in property in the UK
The Granite City has seen the worst return on investment in the UK for property after being the only area to record a decrease in property prices during the last 10 years
www.aberdeenlive.news
Soldato
see my above post i edited before you posted thisAberdeen ranked worst area to invest in property in the UK
The Granite City has seen the worst return on investment in the UK for property after being the only area to record a decrease in property prices during the last 10 years
Soldato
You seem to think that doing any work is exploitation. So all work is unfair or underhand? If you don't feel the labour is equal to the value you put in, find someone willing to pay you "fairly" for your time. If you're not happy with your time / money balance, it's on you to find something that pays you more for your time.
A landlord is providing a habitable and safe home for a tenant. Your understanding of general business is lacking. Rent a car out on Turo? You're not being paid for your time, but use of your car. Rent a surf board on a beach on holiday? You're not paying for someone's time, you're paying for the rental of the surfboard. I could list so many that you seem to have totally missed how pricing works.