The joy of being a landlord

FoxEye said:
Depends on house prices, doesn't it. Maybe they'll be bought up by BTL landlords. Maybe they'll be bought up by people escaping London. Maybe they'll be bought as holiday lets.

Was only reading the other day, that it's fairly typical for property developers to sell 30% or more before they get built, into the Asian/international markets. "Off plan" sales, they call it. Gives the developer some up-front cash to play with and get the rest built, apparently. So then your landlord is possible somewhere in Hong Kong :p
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Sure maybe a few years ago in some expensive central London development, I think some inland site consisting of affordable housing for locals is likely to be safe from Hong Kong business moguls.

As for the first point, they're apparently turning down planning permission for apartments at affordable rents, shared ownership accommodation with priority given to local people in some areas so they must have plenty of that already right or are planning it? I mean that's the sort of thing that would stop your mortal foe; the BTL landlords.
 
dowie said:
Sure maybe a few years ago in some expensive central London development, I think some inland site consisting of affordable housing for locals is likely to be safe from Hong Kong business moguls.

As for the first point, they're apparently turning down planning permission for apartments at affordable rents, shared ownership accommodation with priority given to local people in some areas so they must have plenty of that already right or are planning it? I mean that's the sort of thing that would stop your mortal foe; the BTL landlords.
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The truth is, neither the govt nor developers want to build so many houses that prices fall. The entire economy of the UK seems to revolve around the idea that houses must only appreciate in value.

We could let Councils build and run more Council housing, but there's still a ban on that.

Vested interests want house prices to keep rising. You just have to look at the language of the current mini dip, where a small decrease in house prices is being reported using words like "pain". It's apparently "painful" for house prices to go down, in this country. "Thankfully, it's likely to be a temporary blip" they say. Because we absolutely must get back to ever increasing asset (oh, sorry, meant to say "home") prices ASAP.
 
FoxEye said:
The truth is, neither the govt nor developers want to build so many houses that prices fall. The entire economy of the UK seems to revolve around the idea that houses must only appreciate in value.
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House prices are already falling, local councils and local NIMBYs have a hand in this supply issue too as already pointed out, they can and do block developments with trivial justification... but apparently, that isn't an issue in Cornwall so your area will be fine in a few years.
 
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dLockers said:
Unpack that one for me lol. The maintenance is costed into a deal. It doesnt rely on good will to maintain the car.
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But if you scuff it or scratch it or dent it, that is not covered - you'll be charged for the damage if you do not have it seen to yourself.

Just like if you scuff a wall in the house.

You also have to hoover it, clean it, and wash it. Like you do a rented house. On that note, when I had a leased company car, it was compulsory to keep it clean.
 
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Lopéz said:
But if you scuff it or scratch it or dent it, that is not covered
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Most lease agreements will include an expected amount of damage/wear and tear, up to and including alloy scuffs and dents/scratches below a certain size. It is literally costed into the deal. And then if you return the car with anything more substantial they will charge you menu-pricing agreed upfront.

I don't need a "tin of paint" to touch up any issues; I know precisely what to expect against universally accepted guidelines.

Lopéz said:
You also have to hoover it, clean it, and wash it. Like you do a rented house. On that note, when I had a leased company car, it was compulsory to keep it clean.
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I think folk in this thread are conflating "taking reasonable care" with "maintenance". If I am asked to hang out on a Sunday morning I don't say "I'm busy maintaining the house"; I say "I am busy vacuuming" lol.
 
dLockers said:
I think folk in this thread are conflating "taking reasonable care" with "maintenance".
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I think perhaps it's yourself who's getting confused, as this is what you originally brought issue with:

kindai said:
theres a tin of it left with a brush so if they do have any accidents or mishaps, they can touch it in themselves
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Now we've already established you have a fanciful way of living so if you wish to live in a scuffed up ****-hole, please continue, but please leave the rest of us to discuss our civilised lifestyles in peace :cry::cry:
 
NVP said:
so if you wish to live in a scuffed up ****-hole, please continue, but please leave the rest of us to discuss our civilised lifestyles in peace :cry::cry:
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If you want to see the quality of finish of my house you can check out my threads in home & garden. I assure you, it is above landlord grey standard.

I'm surprised there isn't a law preventing convicted criminals from being a landlord?
 
dLockers said:
If you want to see the quality of finish of my house you can check out my threads in home & garden. I assure you, it is above landlord grey standard.
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As you didn't guess from my post, let me clarify: I couldn't give two ***** about your lifestyle.

dLockers said:
I'm surprised there isn't a law preventing convicted criminals from being a landlord?
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:cry: Plonk. I don't think you realise how you come across.


Isn't trolling banned on this forum? Such poor quality/low effort attempts definitely sure should be.
 
dLockers said:
Unpack that one for me lol. The maintenance is costed into a deal. It doesnt rely on good will to maintain the car.
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our flat, we cover normal wear and tear as wel as white goods etc. usually done when a tenant leaves (new carpets, coat of paint etc etc etc) our last few tenants have been young newly qualified people new to the area in new jobs, looking to get some experience and then either move on or what ever (I am guessing). as such they dont tend to stay for more than 3 or 4 years.

HOWEVER damage caused other than by wear and tear is their responsibility to fix they should need to pay to be fixed out of their own pocket.. exactly like leasing a car. I am not sure why you seem to think this is so wrong, they are expected to at a basic level respect the property and not for instance punch holes in the walls or block airvents whilst disconnecting heating etc which then leads to black mould (something we had happen with a previous tenant - and as it happens we ended up footing the bill 2 or 3 times before we eventually kicked them out - as already said, the system in uk is rubbish for both tenants and landlords.. it heavily favours scumbags).

maybe one day we will need to do a refurb with our tenants in place.... and if we do then we will talk to them 1st and sort it out but it has not happened yet. i guess my experience is different as we rent out a 1 bed flat as opposed to a family sized house.
 
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bigmike20vt said:
HOWEVER damage caused other than by wear and tear is their responsibility to fix... exactly like leasing a car. I am not sure why you seem to think this is so wrong.
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No it isn't. It is your responsibility to fix; and to then bill them a reasonable amount back. Most lease agreements prohibit you going to Dave's backstreet garage to get a repair done.
 
bigmike20vt said:
maybe one day we will need to do a refurb with our tenants in place.... and if we do then we will talk to them 1st and sort it out but it has not happened yet. i guess my experience is different as we rent out a 1 bed flat as opposed to a family sized house.
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I get local decorators in after each long-stay tenant to do all the walls, wood and ceilings. If you schedule everything correctly, there isn't really any downtime. It's peace of mind for me that my properties are received in good condition giving tenants more incentive to keep it that way, however families with kids always seem to mark everything up, which is expected and not really an issue.
 
If house prices continue to remain reasonably resilient I will probably sell. No way to make a profit now if you have a mortgage and pay 40+% tax on rental income. If they drop I'll probably just suck it up for a year or two.
 
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