The joy of being a landlord

[Pottsey]

so landlords are special and have a Devine right for their "business" to be profitable ?, again you all rode the gravy train, you are all collectively responsible along with the government for the problems in the housing market and now the train is stopping the little guys are going to feel the pain the worst... too bad I'll save my sympathy for the renters you all ran over.

Of course they are not special nor is it a divine right. If they are not making a profit to cover the costs the only solution is to sell. You don't run a business spending lots of time and effort on it to only lose money. Very clearly you don't care about the renters who often have is easy compared to homeowners. The problem is with people like you and your attitude not the landlords.

 

[Allnamestaken]

Sure it requires work but a bunch of people in here seem to think there is no work involved and its easy free money which is detached from reality. Furthermore many landlords are losing money despite requiring lots of work. But some people just want to sit here calling them evil and complain about a free mortgage while being completely oblivious to all the work and costs involved.

If there mortgage is being offset by the rental, even if they are not “breaking even”
On mortgage cost to rental ratio, it’s still being offset they are still paying down their mortgage with an assets being rented out.

Just because they are not making a net profit per month does not mean they are still not massively gaining from it.

Lots of landlords say they are losing money in this case, that’s ********.

 

[mid_gen]

The opinion of some is that the landlord should operate the property at a loss whilst it is occupied by a tenant on the basis that the landlord receives a windfall in the future when the property is sold.

The trouble is that doesn’t jive with economic reality as landlords can’t operate at a loss.

Sometimes you do have to accept a short term loss for a long term profit, that's running a business.

It'll be good to whittle out all these amateur landlords play-acting at being businessmen, and have the rental market run by professionals.

 

[Sythe79]

Of course they are not special nor is it a divine right. If they are not making a profit to cover the costs the only solution is to sell. You don't run a business spending lots of time and effort on it to only lose money. Very clearly you don't care about the renters who often have is easy compared to homeowners. The problem is with people like you and your attitude not the landlords.

yes I'm the problem, along with all the renters living it large with their easy lives just lol

spare a thought for the poor down trodden landlords, they are the real victims maybe you could set up landlord-aid get Bono to write a song he owns lots of property right ?

 

[Angst]

Of course they are not special nor is it a divine right. If they are not making a profit to cover the costs the only solution is to sell. You don't run a business spending lots of time and effort on it to only lose money. Very clearly you don't care about the renters who often have is easy compared to homeowners. The problem is with people like you and your attitude not the landlords.

Wait you think the renters that dont own a single property and are paying a landlords mortgage for them have it easy compared to landlords who have the financial means available to own multiple? Are you joking right now?

 

[Allnamestaken]

As usual some of you are quick to blame people for being upset and maybe there careers or choices for not being able to own a property. It always devolves to that.

It’s hilarious actually, so typical. I can’t get a mortgage on a £200k/£250k place where I live at a reasonable rate with £40k down without the final repayment figure being ridiculous. This is mostly to do with recent rates so this is pretty anecdotal, I will be saving more until it becomes tenable but this isn’t possible for most people.

 

[Pottsey]

yes I'm the problem, along with all the renters living it large with their easy lives just lol

spare a thought for the poor down trodden landlords, they are the real victims maybe you could set up landlord-aid get Bono to write a song he owns lots of property right ?

Yes you are the problem as your attacking innocent people while making silly childish comments that make you come across as though you have no idea what you are talking about. Your not offering any solutions your just attacking innocent people which is not helping.

Its a fact many renters do have it eas,y I even know many who rent for that very reason. Likewise I have seen many renters get there own home and be shocked at how much work and costs it involves over renting with them not realizing how easy they had it. You might not want to admit it but its a fact landlords have it very, very hard at the moment.

From what I have seen of my local area renters many of them do have easy lives with more deposable income as renting is way cheaper and takes far less time to manage. Renters get more money to spend and more free time.

 

[mid_gen]

The heart of the problem is being demonstrated perfectly right here.

A generation of amateur landlords that have only ever known an environment where they make guaranteed profits, think they are entitled to continue doing so in perpetuity, and start throwing their toys out the pram when it looks like they're going to have to deal with the downside of a broken property market for the first time.

Sympathy levels are zero from me. (I am a homeowner and plenty well off btw, before the usual accusations fly).

I'd have a lot more sympathy if any of these landlords were building homes and actually providing a value add, rather than being essentially parasitic rentiers.

 

[bigmike20vt]

I'd rather have a monopoly landlord than tens of thousands of uppity middle-classers thinking they have a business seeking rent from people less fortunate then they.

Good riddance.

be careful what you wish for

This Housing Association Was Started to End Slum Landlords. Then It Became One | Novara Media

Notting Hill Genesis was set up by a social activist to deal with ‘damnable housing conditions’. Now its residents are complaining of exactly that.

novaramedia.com

personally when i rented i wanted a landlord who fixed stuff when stuff needed fixing and charged the going rate or less (i lived in a HMO for 5 years)

your attitude seems strange to me and just reeks of jealousy. it really should be none of the tenants concern who the landlord is or what their financial position is so long as they do what they need to do.

 

[Pottsey]

Wait you think the renters that dont own a single property and are paying a landlords mortgage for them have it easy compared to landlords who have the financial means available to own multiple? Are you joking right now?

Its more complicated then that. Take my street. The person renting is paying £400 less per month then a mortgage and doesn't have to pay maintenance, upgrades, insurance, repairs and saves a massive amount of time not dealing with everything as they pass it onto the landlord. Renters here more spare time, more deposable income and an easier life. As well as the renters are not losing money per month while the landlords are in the negative most months.

 

[Sythe79]

Yes you are the problem as your attacking innocent people while making silly childish comments that make you come across as though you have no idea what you are talking about. Your not offering any solutions your just attacking innocent people which is not helping.

Its a fact many renters do have it eas,y I even know many who rent for that very reason. Likewise I have seen many renters get there own home and be shocked at how much work and costs it involves over renting with them not realizing how easy they had it. You might not want to admit it but its a fact landlords have it very, very hard at the moment.

From what I have seen of my local area renters many of them do have easy lives with more deposable income as renting is way cheaper and takes far less time to manage. Renters get more money to spend and more free time.

Just normal innocent men

just got played in the slop on the 26th of jan 2023, who are you people

www.youtube.com

 

[andybird123]

Sometimes you do have to accept a short term loss for a long term profit, that's running a business.

It'll be good to whittle out all these amateur landlords play-acting at being businessmen, and have the rental market run by professionals.

So you actually WANT more wealth to be consolidated to fewer people?
The bigger landlords can be some of the worst offenders, when I was in a housing association property it took us over a year of calling to get even really minor stuff like light bulbs in shared areas changed.

I will typically have repairs done within a week and provide an emergency call out number to my tenants.

 

[bigmike20vt]

Then basic market economics means all the poor hobbiest landlords will lose a lot of money and richer professional landlords will buy up the properties at a steal and better serve the market, what's the problem.

as i said earlier if a landlord does their job i dont really care on their personal wealth, however i am the opposite of you, i would much rather the wealth be spread out between many landlords with 1 or 2 properties rather than the likes of Oxford and cambridge university owning vast percentages of the country, or private housing associations.

slum landlords are slum landlords and good landlords are good landlords.

 

[Angst]

Its more complicated then that. Take my street. The person renting is paying £400 less per month then a mortgage and doesn't have to pay maintenance, upgrades, insurance, repairs and saves a massive amount of time not dealing with everything as they pass it onto the landlord. Renters here more spare time, more deposable income and an easier life. As well as the renters are not losing money per month while the landlords are in the negative most months.

Im asuming that is the situation only caused by the recent turmoil and will be corrected by the landlord when the fixed term rental contract is up and they can raise the rent by that £400 to cover the new increased costs. As the discussion so far has confirmed to me multiple times that tenants normally cover the full mortgage cost plus money ontop for monthly income to also cover any maintenance costs.
So yea im sure the renters who cant get on the property ladder have it much easier than the landlords with multiple properties that just increase rent to cover any increase in ciosts do. Claiming that they have more disposable income and free time is a joke when it has been proven many times that rent costs more than a mortgage for an equivalent property and they have to save ontop of that for years to create a deposit for a mortgage for themselves.
The more free time argument is irrelevant to the discusion as that usage of time is just part of you running your "business".

 

[Sythe79]

as i said earlier if a landlord does their job i dont really care on their personal wealth, however i am the opposite of you, i would much rather the wealth be spread out between many landlords with 1 or 2 properties rather than the likes of Oxford and cambridge university owning vast percentages of the country, or private housing associations.

slum landlords are slum landlords and good landlords are good landlords.

I'd rather everyone owned one house and if there is a need for rented homes the government owned them, but hey, my point was if you're arguing business, business, business, economics, something, something, then that's the natural conclusion for the housing market in the state it's in.

you can't claim you want housing to be this market economy but not too much, that's not fair.

 

[mid_gen]

So you actually WANT more wealth to be consolidated to fewer people?

It would seem to be preferable to have rental properties owned and managed by professionals, than by amateur pretend businessmen who have to panic and sell at the first sign of a downturn because they have no clue how to manage their financials.

Rental properties should not be a massive source of wealth. You want them to be a boring, stable, low-return, low-risk long term investment for professional investors.

The bigger landlords can be some of the worst offenders, when I was in a housing association property it took us over a year of calling to get even really minor stuff like light bulbs in shared areas changed.

I will typically have repairs done within a week and provide an emergency call out number to my tenants.

Kicking crap housing associations into shape, and getting rid of incompetent amateur landlords are not mutually exclusive.

 

[cheesyboy]

house prices are dropping right now, landlords are selling at an unprecedented rate causing shortage in rentals, rental prices go up

So landlording caused rents and house prices to rise for many years and, after totally ******* the market in that respect, we now get them ******* it all over again as they withdraw their capital?

Tell me: in what part of this scenario that you outline have landlords NOT been utterly disastrous for society?

 

[Deleted member 77746]

If landlords / landladies weren’t in it for money we 100% would not have seen a price rise as big as it’s got in private renting. It was too easy before but not so much now. A lot of renters renting out their property around my way have sold up and left the industry.

 

[bigmike20vt]

The problem is with people like you and your attitude not the landlords.

I agree he is utterly clueless, some people here think its ok that tenants dont pay rent and trash properties and even then it is wrong for LLs to evict them, as it is just part of their cost of doing business. if tenants have no money and cant afford rent then their needs to be help for them to get by. how many of these "i hate LLs they should let tenants live for free if they are hard up" would offer them a spare room in their pad for free, or how about they open their chequebook and help them out of their own pocket?.

however bad landlords ARE also a problem.

Like it or not someone needs to offer properties to rent out. The government has made it very clear they do not want it to be them or councils by actively selling their properties. I would fully champion more council built houses which are NOT then sold off for short term gain.

but this whole concrete scandal highlights the short termism of society..... yes the buildings should have been replaced after 30 years... but who the hell builds permanent buildings with only a 30 year life span anyway? RAAC was only ever suitable for short term temp buildings which the planning was only temporary for not schools and hospitals and god knows where.

sorry segue, back to topic

The problem is two fold

lack of supply combined with a system which benefits scumbags....... scumbag LLs who take advantage of tenants and scumbag tenants who can easily game the system and screw over the decent LLs.

 

[413x]

It's misleading to say you made no profit on the rent when it is paying your capital for you though. After you sold it, what was the profit you made considering your initial deposit / investment?

(Note I'm neither for or against private landlords, just curious to see the actual figures)

Absolutely. I feel the same about those in London on 100k saying its not a great wage.

If you're paying off a mortgage that cash is profit. Sure. You might not be able to access it now, but you can later.

Or piling loads into a pension. Same applies.



What really grinds me is people saying they are poor with 10s of k in savings.. "but I can't touch that". Yes you can. You might not want to. But if push came to shove.. Its there