Any landlords on here had enough?

[diy_fun_uk]

If the Landlords can optimise their profits, why can't the state do the same and make profits, unlike the private landlords who take their profits offshore or spend it on holidays abroad, the state could use any profits to build more houses for rent or subsidise young first time buyers.
Used to be that people bought a house to live in, they looked forward to paying a mortgage for around 30 years, after which they owned the property and could then have something to leave to their kids.
Nowadays the market is full of opportunists who buy property as an investment or as a store of wealth, usually of dodgy origin, this practice is forcing up price's, .

Can't speak for England but in Scotland, over 90% of LLs have 1 x property. So the high majority aren't sending their profits offshore and if it helps some pay for hols etc, so what? It's a business.

Yes folk buy houses to live in, however folk have rented for decades ...

Up until about 1914 approximately 90 per cent of all housing in Britain was privately rented. This compares to only about 7 to 10 per cent at the end of the century, though from a low point of about 7 per cent in 1991 there had been a steady increase over the last nearly 30 years. It is now predicted that the privately rented sector will reach 25 per cent of the total housing market by 2025.

Taken from:

The Story of “Landlording” – a brief History – LandlordZONE

www.landlordzone.co.uk

 

[SirGalahad]

People have substituted poor wage growth and poor pension performance with investing in property to make up the wage gap.

The whole system will eventually collapse as you cannot provide cheap loans forever to maintain this pyramid scheme.

 

[Brigadier]

Jackanory.

Rhyming slang for Tory ?

More like, accidental landlords (didn't dispose of properties left to them), and / or those who saw c. 15% p. a. returns.

?

 

[nwgs]

Aren’t we forgetting the large portion of society who have never, and will never get a job.

The councils can’t afford to home them all, so it’s over to the private and professional landlords.

 

[algas]

I provide good housing for people who for whatever reason will never be able to buy their own house. The councils selling off their housing stock at a discounted price has left them with a shortfall in housing, all of my tennants have been with me for over 10 years, we are on first name terms, they don't plauge me about un nessesary repairs and likewise I charge slightly under market rents, this works for us all. The councils are the worst when it comes to repairs and most couldnt run a bath if you showed them the taps, you only have to see how much rent arrears they notch up. If council housing was plentifull landlords like me would be out of business. And yes I make a reasonable proffit, how I spend it is my bussiness.

 

[HawkEye244]

I saw this train wreck coming years ago and ceased renting out a house in 2021 adding to the increasing shortage of private property on the market. Which only adds to demand.

I started seeing a lot of anti-landlord sentiment as far back as 2015 and it worried me. Examples can be found in this thread.

Fortunately, all my tenants paid and I think this is because I really looked after them. You need to be proactive about dealing with even the smallest of problems as soon as they arise.

The most risk I would take on now would be a lodger. Private landlords have been completely stripped of their legal protections. The risk is simply not worth the reward and the situation will only get worse until it eventually reaches breaking point.

 

[Justin Passing]

why can't the state do the same and make profits

Because they don't have the money. If they did, they could build more houses.

 

[diy_fun_uk]

I provide good housing for people who for whatever reason will never be able to buy their own house. The councils selling off their housing stock at a discounted price has left them with a shortfall in housing, all of my tennants have been with me for over 10 years, we are on first name terms, they don't plauge me about un nessesary repairs and likewise I charge slightly under market rents, this works for us all. The councils are the worst when it comes to repairs and most couldnt run a bath if you showed them the taps, you only have to see how much rent arrears they notch up. If council housing was plentifull landlords like me would be out of business. And yes I make a reasonable proffit, how I spend it is my bussiness.

A bit like me. I have 3 x BTLs, all 2 bed flats. I charge ~£460 pcm rent, this was ~£360 pcm 15 years ago so you can see I've benefitted from MASSIVE year on year rent increases, mathematically a whopping £6.66 increase per year. What a piece of scum I am for charging such horrendous rent.

One tenant is a mum with teenage son, loves the flat, keeps it in good order and tells me she's happy to stay for the duration. The other tenant is an older woman who also loves her flat but has forward-thought and put her name down with the council for a flat as she might not be able to manage the stairs (1st floor) in later life. Mind you she put her name down around 5 years back and I think the council said it would be 7-8 years minimum before she'd be at the top of the list. What a piece of scum I am for letting out decent properties that my tenants want to stay in.

The third flat as touched on earlier is currently empty, being refurbed after the tenants fecked off having paid no rent for 10 months in 11 and leaving the place like a proverbial sh1thole.

Yep, landlords are all scum charging £5000 pcm to rent out toilets with a blow-up mattress ... and tenants never do any wrong. This is the narrative government increasingly pushes.

 

[SirGalahad]

Because they don't have the money. If they did, they could build more houses.

They do have the money - they simply choose not to build as Tory are backed by property developers and land owners.

The government can print as much money as it likes - the biggest lie the Government pushes and the papers run with is that the Government has run out of money - its the dumbest economic argument going - your finances are not a reflection of Government finances - you don't have your own currency.

 

[cwhaley]

Land Value Tax - that's the solution to land bankers and renty economy.

When you remove property from being an investment and use that capital and resources to invest in new industries and technology we can grow the economy but whilst we are drunk on property prices and ownership the rentier side of the economy will extract from the productive side of the economy.

Problem is our political system has been built on the idea of wealth through appreciating property prices. Post war we had the greatest increase in median incomes and health outcomes -all of that is reversing now because the Governments keep on kicking the important decisions down the road.

So again can someone tell me how do you grow the economy and deal with income inequality?

Exactly. I can't remember which Benn it was (probably Tony Benn) but one of them said that we have a "paper economy" built on "moving money around for a fee". Essentially that's what we have.

I have a relative who owns eight houses (he got in at the right time) and rents them out. Prior to that he worked as a machinist producing CNC router bits. He went from being a productive and value-adding member of society, to one who creates profit from rental income.

Well done to him, but when it seems like everybody is doing it it does make you think.

 

[diy_fun_uk]

They do have the money - they simply choose not to build as Tory are backed by property developers and land owners.

The government can print as much money as it likes - the biggest lie the Government pushes and the papers run with is that the Government has run out of money - its the dumbest economic argument going - your finances are not a reflection of Government finances - you don't have your own currency.

Anyone feel free to correct me if I'm wrong (I mean that sincerely not sarcastically) but was a pledge not made when right to buy came in that the reduction in social housing stock would be back-filled so to speak with newly built council/social housing? How's that panned out?

Year in year out you see politicians spout their garbage on progs like QT about what they're doing (government) or would do (opposition) to address the problem. Yes, YEAR IN YEAR OUT they TALK about it ...

 

[diy_fun_uk]

Exactly. I can't remember which Benn it was (probably Tony Benn) but one of them said that we have a "paper economy" built on "moving money around for a fee". Essentially that's what we have.

I have a relative who owns eight houses (he got in at the right time) and rents them out. Prior to that he worked as a machinist producing CNC router bits. He went from being a productive and value-adding member of society, to one who creates profit from rental income.

Well done to him, but when it seems like everybody is doing it it does make you think.

I'm not saying you're inferring the following about your relative but I'll type it anyway as a general point that folk like to make ...

Of course, to appease the masses, he should have know his place and remained a machinist.

 

[SirGalahad]

Anyone feel free to correct me if I'm wrong (I mean that sincerely not sarcastically) but was a pledge not made when right to buy came in that the reduction in social housing stock would be back-filled so to speak with newly built council/social housing? How's that panned out?

Year in year out you see politicians spout their garbage on progs like QT about what they're doing (government) or would do (opposition) to address the problem. Yes, YEAR IN YEAR OUT they TALK about it ...

The Government can raise debt cheaper than anyone else unless Truss is in charge with Kwarteng.

 

[ericmark]

The problem is the tenants now have the upper hand, and around here landlords have had enough, it seems they are moving to the mobile home market where the laws are not so strict.

I can't blame Tories as Wales is a Labour government, with 20 MPH speed limits from September and no cheap booze, I have to travel to England to buy it.

I have only rented once, while in Hong Kong, and it was only temporary. But if you need to move for work, the time taken to buy and sell is far too long, and there is a high chance of loosing or making money when forced to sell and buy. I can see why people rent, and also there is the out of work problem, with a rented home the government helps, but not so when buying with a mortgage.

But I had at one point 2 homes and I did consider renting one, but the rules are too strict, to rent I was told needed to fit new kitchen, as existing had been modified for the disabled, fit smoke alarms as existing ones linked to call centre would be deactivated on my mothers death, and the estate agents list went on. So we sold it, simply not worth the hassle.

 

[SirGalahad]

Exactly. I can't remember which Benn it was (probably Tony Benn) but one of them said that we have a "paper economy" built on "moving money around for a fee". Essentially that's what we have.

I have a relative who owns eight houses (he got in at the right time) and rents them out. Prior to that he worked as a machinist producing CNC router bits. He went from being a productive and value-adding member of society, to one who creates profit from rental income.

Well done to him, but when it seems like everybody is doing it it does make you think.

Rentier capitalism.