The joy of being a landlord

cheesyboy said:
Peak landlord brain: it would be terrible to let someone else buy an affordable house.
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The spite in your posts is laughable.

Both my BTL mortgages have 2 years left to run. At that point I'll take a view on rates at that time and what changes are made to CGT rules. Most likely if it's no longer advantageous to keep the rental properties they'll be sold and pay off my main residence mortgage.
 
andybird123 said:
You've selectively quoted to prove a non point. My house if I sold it could absolutely not be bought by e.g. my renters. My house would most likely be bought by someone who already owns a house and my renters would then be homeless, or would have to go back to renting 1 room for a family of 4 instead of a 4 bed house.

Not all renters can buy houses, so a reduction in rental stock absolutely drives up prices of rents as renters are fighting over the property (my current tenants offered over asking to secure the property but I told them no they can have it at asking).

If you think landlords selling up isn't causing issues with higher rents then I don't know what planet you're living on.

It's not "edge cases", most renters don't have a deposit or have other situations meaning they can't get a mortgage.
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So you're saying that our housing market has been managed in such a way as to ensure prices are always rising and that investing in housing is a sure hit, protecting landlords and encouraging more of them, meaning that we are now over a barrel and reliant on private landlords' stock?

I said this in another thread yesterday: if an alcoholic goes cold turkey, they will die. That doesn't mean that the alcohol is 'providing a service' or is 'a good thing'.
 
Iamzod said:
Everybody wants everything handed to them nowadays.
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Sadly this does seem to be the case, and when they don’t get what they think they deserve..

well, just look at some of the replies on here.
I really don’t understand why these people continually whinge and moan about it and don’t put that effort into something more productive.
 
cheesyboy said:
So you're saying that our housing market has been managed in such a way as to ensure prices are always rising and that investing in housing is a sure hit, protecting landlords and encouraging more of them, meaning that we are now over a barrel and reliant on private landlords' stock?

I said this in another thread yesterday: if an alcoholic goes cold turkey, they will die. That doesn't mean that the alcohol is 'providing a service' or is 'a good thing'.
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That's not quite what I'm saying, I'm saying successive governments have failed to build enough social housing to accommodate people who want to/have to rent.

They've successively decided to "punish" landlords to get them to sell but without providing an alternative, which is causing shortage of supply which causes prices to go up.


It's not LLs causing the issue, it's poor government.
 
413x said:
Mine was hundreds too.
With the restrictions of having to live. By parents rules, distance to jobs etc and limited jobs, it just wasn't worth it.
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Parent rules were the killer for me! Was paying my mum £300/m all in, after all my other expenses I had about £2k/m left over for whatever I wanted. Should have put it towards a deposit but I was busy going on holidays 3-4 times a year and living life to the max. No regrets at the time.

Moved out just to have own space and freedom, pay about £1.4k/m now for rent/council tax/bills so disposable income has dropped significantly which has made it a lot harder to save enough for a deposit.... sigh.
 
JonRGV250 said:
Sadly this does seem to be the case, and when they don’t get what they think they deserve..

well, just look at some of the replies on here.
I really don’t understand why these people continually whinge and moan about it and don’t put that effort into something more productive.
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Haha! A landlord with his passive income criticising others for not being 'productive'

What does landlording 'produce', my friend?
 
Also I forgot to mention my sister has tried to solve the problem for her son by letting him live with her so he can save up for a deposit, she doesnt have the means to give him money, but has at least kept him out of the renters hell.

Because another issue forgotten, is we can bring house prices down, but if disposable income is also down (due to higher rents) then its meaningless as the means are not there to save for the deposit.
 
Parental assistance in many forms seems to be increasingly common simply because it's required to purchase a property. I'll certainly be helping my child purchase a property maybe when she goes to university (if she does) or maybe after. The current housing market is desperately unfair to anyone under 40 trying to get on the property ladder.
 
Bluecube said:
Parental assistance in many forms seems to be increasingly common simply because it's required to purchase a property. I'll certainly be helping my child purchase a property maybe when she goes to university (if she does) or maybe after. The current housing market is desperately unfair to anyone under 40 trying to get on the property ladder.
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There are so many schemes/methods to help. But at the end of all this there will be none left.

All they do is prop up the prices.

Help to buy isas
Shared equity
Stamp duty breaks
Inheritance
Living at home.
Gifts from parents.
Longer and longer mortgage term (inc multi generation)
Lending 5x+ salary
95pc mortgages

They just prop up prices and make it harder for next generation to get on.

When they all run out prices will have to come down to more reasonable levels. Only so long you can prop stuff up artificially.
 
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JonRGV250 said:
Sadly this does seem to be the case, and when they don’t get what they think they deserve..

well, just look at some of the replies on here.
I really don’t understand why these people continually whinge and moan about it and don’t put that effort into something more productive.
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This thread is literally landlords whinging that they arent getting the profits they deserve anymore and how terrible it is...maybe they should put their money into something more productive like building new housing stock rather than just taking existing stock off the market to profit off and increasing the prices for the remaining housing.
 
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Angst said:
This thread is literally landlords whinging that they arent getting the profits they deserve anymore and how terrible it is...maybe they should put their money into something more productive like building new housing stock rather than just taking existing stock off the market to profit off and increasing the prices for the remaining housing.
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Well they are, via higher rents. Some even more profits, I seen some boasting about it on social media who are taking advantage of the current rental market and making a record amount of money,

My rent is currently circa double from when I moved in and has gone up by over 40% in the last 2 years alone.

They still make their money, they just pass on the costs.

For reference I do rent, have never owned a property and have never been a LL. Instead of just blindly whingeing, I have tried to research factors as to what is causing the current problems and I have the opinion now its a combination of lack of social housing and government policies that encourage higher rents.

Its also not just the rent amount, the market is now in such a state they have a luxury of interviewing tenants, having them enter a bidding war and getting their entire tenancy period rent paid up front.

If a LL wants to bump rent by say 80%, and they cant be bothered talking their tenant round they merely just give a no fault eviction, two months notice and have someone new in a week or two later paying that higher rent.
 
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Angst said:
This thread is literally landlords whinging that they arent getting the profits they deserve anymore and how terrible it is...maybe they should put their money into something more productive like building new housing stock rather than just taking existing stock off the market to profit off and increasing the prices for the remaining housing.
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It literally isn't. It's mainly a select few complaining endlessly about how rents are unaffordable and looking for an easy target to blame
 
In this thread.

Landlords(literally comments i have read or that have responded to me)

"this is terrible i may have to sell 3 or 4 of my extra properties as its not as profitable as it used to be"
"Renters have it much easier than us landlords they have more disposable income and free time"
"its the poors fault that they cant afford to buy a house, they shouldnt buy expensive cars, tv's and netflix subscriptions"


Their tenants(most likely)

"This is terrible me and my kids are going to lose our home because its not profitable enough for my landlord"
"I cant afford these rent increases to fund my landlords profit, im going to end up on the street unless i get a 3rd job"

Everyone else

"this situation is ****** innit"
 
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Angst said:
If no one is willing to pay 90k for it then its value is not 90k thats how the market works isnt it.
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If that's the case, then why will loads of people happily rent it at a higher monthly price than a £60k mortgage will cost them?

It's not because nobody wants it, it's because the people who want a house at that price point can't get a mortgage. Frankly i have no idea how the current tennant got car finance as he keeps missing rental payments.
 
Iamzod said:
If that's the case, then why will loads of people happily rent it at a higher monthly price than a £60k mortgage will cost them?

It's not because nobody wants it, it's because the people who want a house at that price point can't get a mortgage. Frankly i have no idea how the current tennant got car finance as he keeps missing rental payments.
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So you are saying regardless of the reason there is no demand for a house at that price so then it still isnt worth that price.
 
413x said:
There are so many schemes/methods to help. But at the end of all this there will be none left.

All they do is prop up the prices.

Help to buy isas
Shared equity
Stamp duty breaks
Inheritance
Living at home.
Gifts from parents.
Longer and longer mortgage term (inc multi generation)
Lending 5x+ salary
95pc mortgages

They just prop up prices and make it harder for next generation to get on.

When they all run out prices will have to come down to more reasonable levels. Only so long you can prop stuff up artificially.
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I would quite happily see tax breaks given to landlords that build property, i.e. actually provide housing, rather than take existing housing and profit from it.

Give a 10-year tax break to housebuilder landlords or something. Encourage more long-term serious investment in creating new housing stock, instead of all these amateurs that think they're entitled to guaranteed returns with no short term risk.
 
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