The joy of being a landlord

[Deleted member 77746]

We should get rid of landlords and move all houses to district owned.
Then only either rent of district at a cheaper cost or get a mortgage.
MAX owned houses = 2.

Boom.

! I'm seeing an increase of people who want to pocket cheap houses paid for with cash on re-possession. !
Then they rent them out for increased rent.
Tsk Tsk Tsk.

 

[Blackjack Davy]

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

They can't afford to buy because they're all snapped up by BTL landlords with ready cash! I bought mine because while renting for years the woman who lived the opposite hallway to me mentioned she was selling and I was straight down the estate agent and made an offer immediately and thought I was lucky to get it I couldn't believe the difference in price between renting and buying I was paying a 1/4 of what the rent was

At least 271,000 people are homeless in England today - Shelter England

Shelter warns of bleak start to 2023 for those without a place to call home

england.shelter.org.uk

If they're not lucky enough to have a support network of family or very helpful friends they'll probably be one of the people in the link above.

Rents are so high and they're paying so much of their disposable income it becomes unprofitable to work and it become easier to just claim benefits, and landlords get to line their pockets at the taxpayer's expense. Its a self fulfilling circle.

 

[cheesyboy]

Landlording is simply immoral. No excuses.

 

[JonRGV250]

I'll bite. You a landlord by any chance?

However did you guess

 

[JonRGV250]

Landlording is simply immoral. No excuses.

Please refer to post #4

 

[CaptainRAVE]

Gave up on it sometime ago. Just ended up being such a hassle. Don’t hugely need the money and it made money quickly, we’ve kept the capital growth by transferring the money into a holiday home in a prime spot. Don’t miss the income or tax returns and inept HMRC, so enjoy being able to use it to escape from the daily grind.

Between tenants that destroy the property and estate agents that never get back to you, it just became a massive hassle. The final straw that ended up being a leak we fixed and a crazy water bill from the period post fix that they suggested we pay, we just kind of gave up.

Some buyer came along and paid way over the odds for it. Pulled out, another one came along and paid tens of thousands more again. Even though imo the whole place needed decorating throughout.

 

[EvilRob]

Gave up on it sometime ago. Just ended up being such a hassle. Don’t hugely need the money and it made money quickly, we’ve kept the capital growth by transferring the money into a holiday home in a prime spot.

Between tenants that destroy the property and estate agents that never get back to you, it just became a massive hassle. The final straw that ended up being a leak we fixed and a crazy water bill from the period post fix that they suggested we pay, we just kind of gave up.

Some buyer came along and paid way over the odds for it. Pulled out, another one came along and paid tens of thousands more again. Even though imo the whole place needed decorating throughout.

Nice, where did you buy your holiday home?

 

[CaptainRAVE]

Nice, where did you buy your holiday home?

Central/front of Brighton. Not everyone’s cup of tea I know, but we enjoy it and can use it regularly with the transport connection from where we work - hour 30 or so on the train using the annual parking that we pay for in the station already and walking distance on the other end. We’ll buy abroad eventually and have looked in multiple countries on multiple occasions (Dubai, Marbella, Canary Islands, St Lucia, Miami) but for now this works. Plus Covid uneased us a bit showing how easily you could suddenly not be able to get to your home.

Keeps the pot of money safer in the uk property market than some more turbulent markets abroad. Not fussed about the fate of future money we spend on property.

It would also work for retirement. Can bin off our commuting home and make Brighton our main with then winter options abroad when we have more time. That’s the plan anyway.

With my family history I doubt I’ll live massively long anyway, so try to enjoy it all as much as I can.

 

[m@rty]

Couldn’t you have sent your butler instead?

 

[Zenduri]

However did you guess

The **** everybody else im alright attitude gave it away

Investment opportunity for you. Buy some water rights to an impoverished african village then charge the locals 1000x the average daily wage for access to the well. Im sure this would be right up your street

 

[Deleted member 77746]

Investment opportunity for you. Buy some water rights to an impoverished african village then charge the locals 1000x the average daily wage for access to the well. Im sure this would be right up your street

Even better bottled water.

 

[JonRGV250]

The **** everybody else im alright attitude gave it away

Investment opportunity for you. Buy some water rights to an impoverished african village then charge then 1000x the average daily wage for access to the well. Im sure this would be right up your street

Even better bottled water.

Excellent idea, I'll call it Peckham spring water.
This time next year I'll be a millionaire.

 

[Bald-Eagle22]

I have three I let out all managed by myself.

Wouldn’t let an agent near any of them for all the tea in China.

Oh btw , if you haven’t realised you won’t get an ounce of sympathy on here.

 

[[FnG]magnolia]

When I wake up, well I know I'm gonna be,
I'm gonna be the man who wakes up next to you
When I go out, yeah I know I'm gonna be
I'm gonna be the man who goes along with you
When I get drunk, well I know I'm gonna be
I'm gonna be the man who gets drunk next to you
And when I haver, hey I know I'm gonna be
I'm gonna be the man who's havering to you

 

[Iamzod]

Landlording is simply immoral. No excuses.

Sometimes there is no choice, we've got a house we don't live in but you put it up for sale & nobody wants it, as soon as you put it up for rent every man & his dog is falling over each other to get themselves in.

Therefore we are landlords, but would rather not be.

We tried to sell a few years ago, got zero interest in like 4 months, as soon as we put it up for rent on Facebook, multiple queries a day, we had about 15 viewings in 1 week.

 

[cheesyboy]

Please refer to post #4

No froth involved my friend. Just pure logical analysis

 

[cheesyboy]

Sometimes there is no choice, we've got a house we don't live in but you put it up for sale & nobody wants it, as soon as you put it up for rent every man & his dog is falling over each other to get themselves in.

Therefore we are landlords, but would rather not be.

We tried to sell a few years ago, got zero interest in like 4 months, as soon as we put it up for rent on Facebook, multiple queries a day, we had about 15 viewings in 1 week.

Landlording instead of asking for a realistic market price is very much a choice.

 

[Iamzod]

Landlording instead of asking for a realistic market price is very much a choice.

It was a realistic market price, we went 15% under value just to get rid & still nothing, are we supposed to give it away for free? Perhaps we should pay someone to take it?

 

[413x]

It was a realistic market price, we went 15% under value just to get rid & still nothing, are we supposed to give it away for free? Perhaps we should pay someone to take it?

I'm not judging keeping it. But.. If its not selling its overpriced.
You might not be getting what you want for it.. But as the saying goes:

Something is only worth a much as someone will pay for it

 

[Iamzod]

I'm not judging keeping it. But.. If its not selling its overpriced.
You might not be getting what you want for it.. But as the saying goes:

Something is only worth a much as someone will pay for it

But they will pay for it, that's the point, they line up to throw rent at it. They just won't or can't buy it.