So very, very wide of the mark.
Taking possession of something you own.
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So very, very wide of the mark.
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Pray tell, where would you suggest the 1000's of people live for whom renting privately works perfectly well? For example someone living in a town for 12 months on a temporary work contract. Or those who simply don't want to buy a property, believe it or not people like that actually exist
Where do they live if there's no PRS?
You insist on continuing with the appeal to extremes fallacy.
It's not PRS per se : it is the lack of housing provision full stop, which drives up the buying and renting costs, far beyond what is achievable for more and more of the population.
Being propped up by bank of mom and dad.
If the rate of increase continues, bank of mom and dad will no longer be sufficient.
That's when the bubble bursts.
According to someone on here I'm a BTL parasite, and let's be honest LLs do get a bad name, usually unfairly. Funnily enough my tenants don't think I'm a parasite, to them I provide a decent property at a fair rent, dealing with issues raised promptly.
Some idiots don't seem to realise the landlord - tenant relationship can be traced back to the 16th century here in the UK.
Are there good and bad LLs? Yep. Just as there are good and bad tenants. Like the ones who vacated my property after not paying rent for 10 out of 11 months and left me with a refurb bill that will run into thousands.
There again, some will think that's all us parasites deserve.
From stories you've recounted in the past, you come across to me as a decent and fair landlord. Having done a lot of work for a guy who had 5 rentals (sold not long before covid) my first introduction to him was viewing a property that had been trashed, he was literally in tears showing me round it, what ground him down more than the damage was the legal process getting them out and all the while not collecting rent.
We had it fixed up within 3 weeks for about half what he was expecting to pay. He went about 4 years before the next trashing, the damage wasn't as extensive but seeing s**t smeared over the toilet walls was a new one on me. He was a decent landlord, often forgoing rent increases if he had a good tenant who looked after the place, knowing the cost of a bad tenant.
Anyway, don't let the attack dogs grind you down, they'll get bored and move onto someone else before too long.
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Like I said earlier it seems to be a lefty - and a current Gov tactic to blame greedy evil landlords for all ills in the housing market. The gov are happy to attack the LLs for votes and the left are happy to attack the LLs as a way of attacking the Gov -- either way the generation rent activists are useful idiots for both parties while its chief exc is trousering £100k pa for not living in a rented house.
It's funny you say that. I was getting carpets fitted in one of my btl's a few years back and the fitter did quite a lot of work for landlords. Like you, he had a more realistic view on what life as a landlord is often like.
The anti-landlord brigade don't want to know that side, it doesn't fit into their narrative.
People who are not old or lucky have great difficulty with housing.
They can see the current system is not designed for the good of the nation.
Some old RWs try to convince themselves that the desire for a home is "lefty"
It isn't.
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There's good and bad landlords and renters.
I'm sure if you weren't making money out of it you wouldn't be a landlord.
i would make more money selling up and putting the money in the bank as i would imagine a lot of landlords would
What's stopping you then?
Someone will either have their own home, or someone will have a house (to rent to someone else).
And you'll be better off, with fewer headaches.
Win-win.
longterm thinking .
I dont get any headaches at all as i vetted tenants carefully and nip by every now and again to check and the places are still immaculate
at present i have a very comfortable life so dont need the additional money if the need arises then they can be sold if not they will be there to give the grandkids a very good start in life . As the kids have already been looked after and will also get main house when we die
I will take the risks that prices can fluctuate massively .
But as i said people could be making more money by just having it in the bank
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Why don't you then?
You rent houses for the benefit of the poor?
Your figures don't add up when you see the forecast value rises of property.
Let's not deny we rent houses out to make money
you using a crystal ball then as i havent given any figures
It obviously varies from landlord to landlord re the income they generate. However when you look at the stats here in Scotland (these are from 2020) it's fair to say the high majority of landlords won't be raking it in. And before anyone says it, no, the following doesn't capture stats on unregistered landlords who fly below the radar.
- 228,212 registered landlords with 1 Property (94% of all registrations)
- 12,317 registered landlords with 2 Properties (5 % of all registrations)
- 1,757 registered landlords with 3 or more Properties (1% of all registrations)
Landlords in Scotland: FOI release
Information request and response under the Freedom of Information (Scotland) Act 2002.
www.gov.scot
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There is also the valuation increase of the property rented out.It obviously varies from landlord to landlord re the income they generate. However when you look at the stats here in Scotland (these are from 2020) it's fair to say the high majority of landlords won't be raking it in. And before anyone says it, no, the following doesn't capture stats on unregistered landlords who fly below the radar.
- 228,212 registered landlords with 1 Property (94% of all registrations)
- 12,317 registered landlords with 2 Properties (5 % of all registrations)
- 1,757 registered landlords with 3 or more Properties (1% of all registrations)
Landlords in Scotland: FOI release
Information request and response under the Freedom of Information (Scotland) Act 2002.
So in effect, as long as the actual cost of the loan, mortgage, interest, or investment made is covered, there is likely to be a healthy profit at the end.
Tell me you wouldn't be renting if you didnt see a profit, short or longer term.
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