The joy of being a landlord

[FoxEye]

If you own a premium property say a 4m pound house why should the state own that?

The state should own its own social housing.

The Private Landlord are not creaming off the top, rather the state is paying to off load its obligation, risk and costs to the private market.

We're not talking about £4m housing. We're talking about social housing for the low-paid/those who need it. At least, I am

In fact several posts ago in this very thread I said I was not at all concerned with the premium rentals market. I am fully aware that mansions and luxury houses are routinely rented by wealthy footballers, oligarchs, etc We don't need the council to provide that kind of rental, for sure...

 

[OspreyO]

The analogy with resellers isn't perfect, so let me correct it.

Resellers buy a product and then sell it on again, outright. In that way they cannot be said to affect availability of the product. But they do push prices up.

If resellers bought a product and then, instead of selling it, rented it out, then it's not so black and white anymore. The availability of the product to *buy outright* is then indeed reduced by the reseller. The reseller *also* has the more general affect of increasing prices, whether bought outright or rented.

Still the reseller has no affect on the production of the thing in question, but they can affect both availability and pricing.

To say landlords have no affect on availability of houses to be bought outright would appear to be evidently false, since by their very function they take houses from the pool of houses available to be bought and instead add that house to the pool of housing available to be rented. This *must* have a pricing effect on the houses that remain, which are lessened in number.

There are multiple groups affected by the profileration of landlords in the UK housing market. They are not all affected in the same way.

The people who were never going to buy are affected by increased rents.

The people who were borderline able to buy are affected by being unable to buy/being in competition with landlords to buy.

"...Buy to let was only 12% of house purchases in 2022 vs 15.5% peak in 2015. Landlords sold 35,000 more properties than they bought across 2022. ...Last month, 37 per cent of offers by landlords were on homes without any competing offers..."

You're beating your head against a wall trying to paint LLs as a source of the housing issues in the UK. Why?

 

[NVP]

#Hatersgonnahate

 

[StriderX]

Perhaps because they have a perverse incentive to maintain a low priority for housebuilding so they have a higher chance of profiting from it that the political parties are more than happy to oblige with as it keeps the big LL's and banks (both in the process of absorbing the entire market) happy that their assets are growing.

What I don't get is why small timers/casual landlords are taking so long to realise the game is nearly up for them, probably permanently.

 

[OspreyO]

We're not talking about £4m housing. We're talking about social housing for the low-paid/those who need it. At least, I am

In fact several posts ago in this very thread I said I was not at all concerned with the premium rentals market. I am fully aware that mansions and luxury houses are routinely rented by wealthy footballers, oligarchs, etc We don't need the council to provide that kind of rental, for sure...

You made no distinction. "...housing has to end up owned by the state/council..."

Renting from a private Landlord IS the premium rental market. Social Housing and affordable housing is something for the Govt to provide.

 

[adidan]

casual landlords

If it was casual and good easy money I wouldn't be selling up.

 

[NVP]

What I don't get is why small timers/casual landlords are taking so long to realise the game is nearly up for them, probably permanently.

Probably because the taxman doesn't know about them...

 

[Devilman]

#Hatersgonnahate

#Parasitesgonnamakeexcuses.

 

[dowie]

We're not talking about £4m housing. We're talking about social housing for the low-paid/those who need it. At least, I am

In fact several posts ago in this very thread I said I was not at all concerned with the premium rentals market. I am fully aware that mansions and luxury houses are routinely rented by wealthy footballers, oligarchs, etc We don't need the council to provide that kind of rental, for sure...

That doesn't exist in isolation, there is a shortage of housing in general, the more housing that gets built the more we're able to alleviate that shortage.

The premium rental market could include a former fisherman's cottage in Cornwall.

There shouldn't need to be a toss-up between protecting tourism industry jobs vs making sure there is affordable housing for locals if enough housing is built in the first place.

"...Buy to let was only 12% of house purchases in 2022 vs 15.5% peak in 2015. Landlords sold 35,000 more properties than they bought across 2022. ...Last month, 37 per cent of offers by landlords were on homes without any competing offers..."

You're beating your head against a wall trying to paint LLs as a source of the housing issues in the UK. Why?

Some people seem to let personal bitterness cloud their judgment when it comes to this sort of issue.

 

[deusexlumina]

Some people seem to let personal bitterness cloud their judgment when it comes to this sort of issue.

This pretty much sums up the thread me for me.

The anger is so disproportionate compared to the contribution of landlords to the overall housing crisis.

 

[adidan]

The only conclusion I can still draw is that there are some awful renters, some awful landlords and that they, and agents, are the ones that benefit most from the current system.

I'm out.

Good luck to the good landlords and good renters out there, I hope you find each other.

 

[NVP]

#Parasitesgonnamakeexcuses.

 

[FoxEye]

You made no distinction. "...housing has to end up owned by the state/council..."

Renting from a private Landlord IS the premium rental market. Social Housing and affordable housing is something for the Govt to provide.

That is not the reality today, and we all know it.

Otherwise we wouldn't be paying £billions in housing benefit to private landlords, would we?

And for sure you must know by now (I've said it several times) that a full 1/3 of private rental accommodation was found to be "not fit for human habitation." Is that "premium" rental as well? Seems we're setting fairly low standards for what "premium" means, in that case...

 

[NVP]

That's the Jaguar level "premium", looks ok but you know something is broken

 

[OspreyO]

That is not the reality today, and we all know it.

Otherwise we wouldn't be paying £billions in housing benefit to private landlords, would we?

And for sure you must know by now (I've said it several times) that a full 1/3 of private rental accommodation was found to be "not fit for human habitation." Is that "premium" rental as well? Seems we're setting fairly low standards for what "premium" means, in that case...

You're paying a "premium" to supply housing via the private market rather than do it directly through public housing.

It's like paying for fast food instead of making it yourself. Then blaming the supplier for your choices.

 

[OspreyO]

That's the Jaguar level "premium", looks ok but you know something is broken

More like taking a taxi to avoid paying for car ownership and running costs. Only you're doing it everyday.

 

[FoxEye]

You're paying a "premium" to supply housing via the private market rather than do it directly through public housing.

It's like paying for fast food instead of making it yourself. Then blaming the supplier for your choices.

You've lost me completely, there. People are paying a premium to live in slumlord housing? And that's their choice and their fault?

I have no idea, tbh, where you're going with this.

 

[FoxEye]

More like taking a taxi to avoid paying for car ownership and running costs. Only you're doing it everyday.

Except you can (or could last I checked) buy a heap for £500 and run it into the ground, and this would be fairly cheap motoring.

The equivalent to that does not exist in the housing market.

People aren't "avoiding" home ownership, it's completely out of reach...

 

[NVP]

More like taking a taxi to avoid paying for car ownership and running costs. Only you're doing it everyday.

Well no, it's pretty much the same as leasing.

 

[NVP]

People aren't "avoiding" home ownership, it's completely out of reach...

For some. Lots of houses being bought everyday.

Prioritise right and you could own your own home, just may need to sacrifice some luxury.