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'Social Housing' .. and Rip Off Landlords

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  • edited September 2023
    Let's not forget it also could well be in the government's power to pass legislation that you can't evict a tenant when buying a property from a landlord (say hello to the new boss, same as the old boss), or that the tenant gets first dibs, almost like a private "right to buy". 
    What do you mean you can't evict a tenant when buying a property? You mean if you buy a property with a sitting tenant in place? You can't just evict a tenant who has a tenancy agreement without giving notice under the terms of the tenancy. Of course the tenant can buy the said property if they want - at market rate
    Well, this is exactly why i'm talking about a kind of private right to buy - maybe some kind of subsidy or help to buy loan perhaps, so it would be below market rate. This obviously requires estate agents not to be absolute shysters and inflate the prices...
  • clb74 said:
    clb74 said:
    Seriously.
    What's the matter with some people?
    I'm 49 with no pension.
    So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.


    I personally don't see a problem with buying a second property outright and then letting it out at a fair price.

    I do have an issue with taking out a mortgage and expecting tenants to pay for it.

    So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.

    You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
    Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
    Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
    And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market. 
    Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
    I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future. 

    I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property. 
    lots of people are in that position - that is not humorous - it's just unfortunately true.

    The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.

    It's a bit sick tbh - the system seems kinda set up against me. 

    edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.  


    Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.

    One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed. 

    It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant). 

    I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down.  If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
    The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!

    Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
    This is the point most people are missing. You're not trading crypto.
    I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business". 
  • Let's not forget it also could well be in the government's power to pass legislation that you can't evict a tenant when buying a property from a landlord (say hello to the new boss, same as the old boss), or that the tenant gets first dibs, almost like a private "right to buy". 
    What do you mean you can't evict a tenant when buying a property? You mean if you buy a property with a sitting tenant in place? You can't just evict a tenant who has a tenancy agreement without giving notice under the terms of the tenancy. Of course the tenant can buy the said property if they want - at market rate
    Well, this is exactly why i'm talking about a kind of private right to buy - maybe some kind of subsidy or help to buy loan perhaps, so it would be below market rate. This obviously requires estate agents not to be absolute shysters and inflate the prices...
    Why would it be at below market rate? It has to be at market rate. Why should they get a subsidy and not anyone else? Who is pay the subsidy

    I get you don't agree with how it works. No one 'inflates prices' unless of course no one is prepared to pay the prices
  • clb74 said:
    clb74 said:
    Seriously.
    What's the matter with some people?
    I'm 49 with no pension.
    So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.


    I personally don't see a problem with buying a second property outright and then letting it out at a fair price.

    I do have an issue with taking out a mortgage and expecting tenants to pay for it.

    So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.

    You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
    Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
    Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
    And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market. 
    Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
    I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future. 

    I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property. 
    lots of people are in that position - that is not humorous - it's just unfortunately true.

    The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.

    It's a bit sick tbh - the system seems kinda set up against me. 

    edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.  


    Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.

    One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed. 

    It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant). 

    I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down.  If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
    The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!

    Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
    This is the point most people are missing. You're not trading crypto.
    I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business". 
    Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
  • Let's not forget it also could well be in the government's power to pass legislation that you can't evict a tenant when buying a property from a landlord (say hello to the new boss, same as the old boss), or that the tenant gets first dibs, almost like a private "right to buy". 
    What do you mean you can't evict a tenant when buying a property? You mean if you buy a property with a sitting tenant in place? You can't just evict a tenant who has a tenancy agreement without giving notice under the terms of the tenancy. Of course the tenant can buy the said property if they want - at market rate
    Well, this is exactly why i'm talking about a kind of private right to buy - maybe some kind of subsidy or help to buy loan perhaps, so it would be below market rate. This obviously requires estate agents not to be absolute shysters and inflate the prices...
    Why would it be at below market rate? It has to be at market rate. Why should they get a subsidy and not anyone else? Who is pay the subsidy

    I get you don't agree with how it works. No one 'inflates prices' unless of course no one is prepared to pay the prices
    You do know how right to buy works right? They should get a subsidy/loan because they live in the property - it's their home. Who lends the loan? The government, interest not payable for 5 years say, like the current help to buy loan and the government gets a chunk of equity perhaps. 
  • clb74 said:
    clb74 said:
    Seriously.
    What's the matter with some people?
    I'm 49 with no pension.
    So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.


    I personally don't see a problem with buying a second property outright and then letting it out at a fair price.

    I do have an issue with taking out a mortgage and expecting tenants to pay for it.

    So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.

    You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
    Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
    Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
    And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market. 
    Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
    I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future. 

    I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property. 
    lots of people are in that position - that is not humorous - it's just unfortunately true.

    The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.

    It's a bit sick tbh - the system seems kinda set up against me. 

    edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.  


    Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.

    One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed. 

    It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant). 

    I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down.  If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
    The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!

    Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
    I would imagine you don't particularly care for the Novara media lot but this is a good video on Landlords 

    "Sit Down, Relax, Have A Holiday" - Welcome To Being A Landlord - YouTube


    cliff notes? Not gonna risk giving those assad supporting, nato hating grifters a penny of youtube monetising money. 
    They interview landlords about to attend a landlord training scheme which has attracted protesters.

    Couple of gems include one saying they will evict tenants if they can't afford rent as they're easily replaceable due to demand and another saying they have no mortgage but have increased their rents because of the market. 

  • I think I may have posted this a while back, but I think it's worth repeating. 

    About 7 or 8 years ago a block of 8 flats were being built near where one of my mates lives. 
    ( Maidstone area ).
    When he enquired about the cost of the flats he was told that all 8 had been bought by a Chinese man off plan.
    He was told that this is common practice and that a good % of new builds are being sold to foreign businessmen. 
    I also keep seeing on the news about how many places in London are now owned by people from abroad that purely buy as an investment. 

    Now I have no idea what % of properties in and around London are being bought up like this but to me it's wrong. 
    All this achieves is driving up the price of property over here and putting money in the hands of rich overseas buyers. 

    I would like Starmer to put something in the next Labour manifesto putting a stop to foreign ownership. 
    Fair enough if the property is being bought to live in but not when they are being bought purely for profit. 
    Were these luxury flats?

    I ask because there are loads of high end residential towers in London that companies by via the floor. It's obviously disgraceful but doesn't really affect first time buyers, which a block of 8 flats in Maidstone sounds like it would.
  • clb74 said:
    clb74 said:
    Seriously.
    What's the matter with some people?
    I'm 49 with no pension.
    So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.


    I personally don't see a problem with buying a second property outright and then letting it out at a fair price.

    I do have an issue with taking out a mortgage and expecting tenants to pay for it.

    So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.

    You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
    Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
    Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
    And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market. 
    Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
    I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future. 

    I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property. 
    lots of people are in that position - that is not humorous - it's just unfortunately true.

    The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.

    It's a bit sick tbh - the system seems kinda set up against me. 

    edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.  


    Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.

    One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed. 

    It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant). 

    I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down.  If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
    The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!

    Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
    This is the point most people are missing. You're not trading crypto.
    I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business". 
    Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
    I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
  • I think I may have posted this a while back, but I think it's worth repeating. 

    About 7 or 8 years ago a block of 8 flats were being built near where one of my mates lives. 
    ( Maidstone area ).
    When he enquired about the cost of the flats he was told that all 8 had been bought by a Chinese man off plan.
    He was told that this is common practice and that a good % of new builds are being sold to foreign businessmen. 
    I also keep seeing on the news about how many places in London are now owned by people from abroad that purely buy as an investment. 

    Now I have no idea what % of properties in and around London are being bought up like this but to me it's wrong. 
    All this achieves is driving up the price of property over here and putting money in the hands of rich overseas buyers. 

    I would like Starmer to put something in the next Labour manifesto putting a stop to foreign ownership. 
    Fair enough if the property is being bought to live in but not when they are being bought purely for profit. 
    Completely agree, me and my wife looked at new build flats earlier this year and were disheartened and, frankly a bit annoyed, by the estate agent/salesman was bragging he sold one of the flats to an investor who paid cash. There's us barely able to afford the cheapest flats they're building and some one waltzes in with cash and buys a property for it to sit there, probably rent it out for market rate/what a mortgage would be. 
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  • clb74 said:
    clb74 said:
    Seriously.
    What's the matter with some people?
    I'm 49 with no pension.
    So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.


    I personally don't see a problem with buying a second property outright and then letting it out at a fair price.

    I do have an issue with taking out a mortgage and expecting tenants to pay for it.

    So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.

    You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
    Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
    Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
    And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market. 
    Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
    I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future. 

    I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property. 
    lots of people are in that position - that is not humorous - it's just unfortunately true.

    The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.

    It's a bit sick tbh - the system seems kinda set up against me. 

    edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.  


    Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.

    One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed. 

    It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant). 

    I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down.  If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
    The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!

    Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
    This is the point most people are missing. You're not trading crypto.
    I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business". 
    Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
    I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
    Do you hold supermarkets in the same contempt? 
  • clb74 said:
    clb74 said:
    Seriously.
    What's the matter with some people?
    I'm 49 with no pension.
    So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.


    I personally don't see a problem with buying a second property outright and then letting it out at a fair price.

    I do have an issue with taking out a mortgage and expecting tenants to pay for it.

    So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.

    You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
    Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
    Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
    And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market. 
    Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
    I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future. 

    I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property. 
    lots of people are in that position - that is not humorous - it's just unfortunately true.

    The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.

    It's a bit sick tbh - the system seems kinda set up against me. 

    edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.  


    Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.

    One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed. 

    It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant). 

    I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down.  If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
    The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!

    Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
    This is the point most people are missing. You're not trading crypto.
    I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business". 
    Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
    I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
    Do you hold supermarkets in the same contempt? 
    It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing? 
    The landlord is proving access to a home which you can't or don't wish to buy for the long term.

    It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.

    All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.

    We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
  • clb74 said:
    clb74 said:
    Seriously.
    What's the matter with some people?
    I'm 49 with no pension.
    So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.


    I personally don't see a problem with buying a second property outright and then letting it out at a fair price.

    I do have an issue with taking out a mortgage and expecting tenants to pay for it.

    So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.

    You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
    Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
    Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
    And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market. 
    Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
    I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future. 

    I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property. 
    lots of people are in that position - that is not humorous - it's just unfortunately true.

    The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.

    It's a bit sick tbh - the system seems kinda set up against me. 

    edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.  


    Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.

    One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed. 

    It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant). 

    I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down.  If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
    The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!

    Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
    This is the point most people are missing. You're not trading crypto.
    I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business". 
    Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
    I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
    Do you hold supermarkets in the same contempt? 
    It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing? 
    The landlord is proving access to a home which you can't or don't wish to buy for the long term.

    It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.

    All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.

    We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
    I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants? And i agree that rents and property prices do need to come down, unfortunately that means pain for people, but it's the hard reality. There are people in this thread that think they should have their cake and eat it, and that being a landlord is some moral service - it isn't. You talk about taking on the risk, but seems nobody actually wants/has accounted for that risk. 
  • clb74 said:
    clb74 said:
    Seriously.
    What's the matter with some people?
    I'm 49 with no pension.
    So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.


    I personally don't see a problem with buying a second property outright and then letting it out at a fair price.

    I do have an issue with taking out a mortgage and expecting tenants to pay for it.

    So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.

    You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
    Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
    Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
    And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market. 
    Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
    I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future. 

    I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property. 
    lots of people are in that position - that is not humorous - it's just unfortunately true.

    The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.

    It's a bit sick tbh - the system seems kinda set up against me. 

    edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.  


    Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.

    One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed. 

    It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant). 

    I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down.  If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
    The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!

    Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
    This is the point most people are missing. You're not trading crypto.
    I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business". 
    Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
    I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
    Do you hold supermarkets in the same contempt? 
    It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing? 
    In my (well, our) case we pay tax on income from our property and what's left we go out and spend at supermarkets, restaurants, on travel, etc. Greasing the wheels of the economy as you rightly put it. I am sure many small landlords do the same. I have no pension, we made a decision a long time ago that property would be my pension, and made sacrifices to pay off the mortgage early (and stay afloat when we had a property each when we met, both with negative equity and both paying interest that climbed to 15% at one point), we made sure that we had insurance cover should there be health problems (which paid off) and yes, we have inherited a bit. I don't see why we shouldn't use that to create an income that we pay tax on and put back into the economy? 

    Do you have the same attitude to people making money from stocks and shares, ISAs etc or just bank interest, KA?               
  • clb74 said:
    clb74 said:
    Seriously.
    What's the matter with some people?
    I'm 49 with no pension.
    So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.


    I personally don't see a problem with buying a second property outright and then letting it out at a fair price.

    I do have an issue with taking out a mortgage and expecting tenants to pay for it.

    So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.

    You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
    Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
    Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
    And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market. 
    Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
    I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future. 

    I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property. 
    lots of people are in that position - that is not humorous - it's just unfortunately true.

    The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.

    It's a bit sick tbh - the system seems kinda set up against me. 

    edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.  


    Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.

    One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed. 

    It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant). 

    I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down.  If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
    The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!

    Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
    This is the point most people are missing. You're not trading crypto.
    I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business". 
    Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
    I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
    Do you hold supermarkets in the same contempt? 
    It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing? 
    In my (well, our) case we pay tax on income from our property and what's left we go out and spend at supermarkets, restaurants, on travel, etc. Greasing the wheels of the economy as you rightly put it. I am sure many small landlords do the same. I have no pension, we made a decision a long time ago that property would be my pension, and made sacrifices to pay off the mortgage early (and stay afloat when we had a property each when we met, both with negative equity and both paying interest that climbed to 15% at one point), we made sure that we had insurance cover should there be health problems (which paid off) and yes, we have inherited a bit. I don't see why we shouldn't use that to create an income that we pay tax on and put back into the economy? 

    Do you have the same attitude to people making money from stocks and shares, ISAs etc or just bank interest, KA?               
    No, because people who invest in stocks etc understand the risks and it's on them if it goes tits up, stocks and shares aren't a fundamental for people to living a very basic existnce, either. For some reason landlords don't seem to have the same attitude, and it's an investment, not a service which ultimately *is* based off greed - ie i have some money, i want to have more money, so i invest in things that i think will go up in value. 
  • clb74 said:
    clb74 said:
    Seriously.
    What's the matter with some people?
    I'm 49 with no pension.
    So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.


    I personally don't see a problem with buying a second property outright and then letting it out at a fair price.

    I do have an issue with taking out a mortgage and expecting tenants to pay for it.

    So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.

    You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
    Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
    Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
    And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market. 
    Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
    I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future. 

    I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property. 
    lots of people are in that position - that is not humorous - it's just unfortunately true.

    The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.

    It's a bit sick tbh - the system seems kinda set up against me. 

    edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.  


    Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.

    One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed. 

    It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant). 

    I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down.  If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
    The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!

    Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
    This is the point most people are missing. You're not trading crypto.
    I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business". 
    Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
    I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
    Do you hold supermarkets in the same contempt? 
    It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing? 
    The landlord is proving access to a home which you can't or don't wish to buy for the long term.

    It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.

    All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.

    We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
    I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants? And i agree that rents and property prices do need to come down, unfortunately that means pain for people, but it's the hard reality. There are people in this thread that think they should have their cake and eat it, and that being a landlord is some moral service - it isn't. You talk about taking on the risk, but seems nobody actually wants/has accounted for that risk. 
    Food production is fundamental to people's living but if the farmers costs go up then they're passed on to the consumer who can then decide whether they want the product or not.
  • clb74 said:
    clb74 said:
    Seriously.
    What's the matter with some people?
    I'm 49 with no pension.
    So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.


    I personally don't see a problem with buying a second property outright and then letting it out at a fair price.

    I do have an issue with taking out a mortgage and expecting tenants to pay for it.

    So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.

    You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
    Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
    Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
    And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market. 
    Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
    I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future. 

    I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property. 
    lots of people are in that position - that is not humorous - it's just unfortunately true.

    The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.

    It's a bit sick tbh - the system seems kinda set up against me. 

    edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.  


    Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.

    One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed. 

    It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant). 

    I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down.  If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
    The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!

    Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
    This is the point most people are missing. You're not trading crypto.
    I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business". 
    Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
    I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
    Do you hold supermarkets in the same contempt? 
    It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing? 
    The landlord is proving access to a home which you can't or don't wish to buy for the long term.

    It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.

    All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.

    We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
    I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants? 
    Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life. 

    They could service all their suppliers at cost, if it wasn’t for pure greed, apparently. 
  • iaitch said:
    clb74 said:
    clb74 said:
    Seriously.
    What's the matter with some people?
    I'm 49 with no pension.
    So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.


    I personally don't see a problem with buying a second property outright and then letting it out at a fair price.

    I do have an issue with taking out a mortgage and expecting tenants to pay for it.

    So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.

    You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
    Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
    Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
    And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market. 
    Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
    I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future. 

    I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property. 
    lots of people are in that position - that is not humorous - it's just unfortunately true.

    The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.

    It's a bit sick tbh - the system seems kinda set up against me. 

    edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.  


    Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.

    One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed. 

    It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant). 

    I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down.  If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
    The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!

    Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
    This is the point most people are missing. You're not trading crypto.
    I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business". 
    Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
    I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
    Do you hold supermarkets in the same contempt? 
    It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing? 
    The landlord is proving access to a home which you can't or don't wish to buy for the long term.

    It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.

    All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.

    We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
    I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants? And i agree that rents and property prices do need to come down, unfortunately that means pain for people, but it's the hard reality. There are people in this thread that think they should have their cake and eat it, and that being a landlord is some moral service - it isn't. You talk about taking on the risk, but seems nobody actually wants/has accounted for that risk. 
    Food production is fundamental to people's living but if the farmers costs go up then they're passed on to the consumer who can then decide whether they want the product or not.
    It sure is, and you’re exactly right - if a farmer’s costs go up ultimately we have to pay for it. Food production is productive though. What productivity does being a landlord provide? 
  • clb74 said:
    clb74 said:
    Seriously.
    What's the matter with some people?
    I'm 49 with no pension.
    So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.


    I personally don't see a problem with buying a second property outright and then letting it out at a fair price.

    I do have an issue with taking out a mortgage and expecting tenants to pay for it.

    So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.

    You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
    Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
    Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
    And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market. 
    Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
    I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future. 

    I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property. 
    lots of people are in that position - that is not humorous - it's just unfortunately true.

    The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.

    It's a bit sick tbh - the system seems kinda set up against me. 

    edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.  


    Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.

    One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed. 

    It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant). 

    I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down.  If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
    The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!

    Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
    This is the point most people are missing. You're not trading crypto.
    I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business". 
    Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
    I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
    Do you hold supermarkets in the same contempt? 
    It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing? 
    The landlord is proving access to a home which you can't or don't wish to buy for the long term.

    It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.

    All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.

    We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
    I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants? 
    Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life. 

    They could service all their suppliers at cost, if it wasn’t for pure greed, apparently. 
    Yes supermarkets provide a service, they bring food from farmers to us extremely conveniently. Why should they not profit from this? A landlord hasn’t built the home (usually) themselves. It’s literally just an investment to make more money out of what they have.
  • Sponsored links:


  • edited September 2023
    Surely a landlord is providing a service/product which they want paying for.
  • Maybe any laws, or most laws against squatting need to be repealed.
    A place empty for more than a year (or even six months) is a massive two fingers to street sleepers.
  • clb74 said:
    clb74 said:
    Seriously.
    What's the matter with some people?
    I'm 49 with no pension.
    So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.


    I personally don't see a problem with buying a second property outright and then letting it out at a fair price.

    I do have an issue with taking out a mortgage and expecting tenants to pay for it.

    So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.

    You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
    Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
    Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
    And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market. 
    Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
    I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future. 

    I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property. 
    lots of people are in that position - that is not humorous - it's just unfortunately true.

    The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.

    It's a bit sick tbh - the system seems kinda set up against me. 

    edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.  


    Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.

    One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed. 

    It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant). 

     I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant). 

    SPOT ON mate
  • clb74 said:
    clb74 said:
    Seriously.
    What's the matter with some people?
    I'm 49 with no pension.
    So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.


    I personally don't see a problem with buying a second property outright and then letting it out at a fair price.

    I do have an issue with taking out a mortgage and expecting tenants to pay for it.

    So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.

    You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
    Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
    Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
    And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market. 
    Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
    I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future. 

    I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property. 
    lots of people are in that position - that is not humorous - it's just unfortunately true.

    The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.

    It's a bit sick tbh - the system seems kinda set up against me. 

    edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.  


    Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.

    One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed. 

    It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant). 

    I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down.  If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
    The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!

    Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
    This is the point most people are missing. You're not trading crypto.
    I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business". 
    Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
    I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
    Do you hold supermarkets in the same contempt? 
    It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing? 
    The landlord is proving access to a home which you can't or don't wish to buy for the long term.

    It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.

    All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.

    We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
    I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants? 
    Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life. 

    They could service all their suppliers at cost, if it wasn’t for pure greed, apparently. 
    I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
  • edited September 2023
    iaitch said:
    Surely a landlord is providing a service/product which they want paying for.
    no, they're providing shelter, which is a literal human right. Supermarkets don't grow the food themselves, they're the service of getting food from the farmer to me in a convenient place. As Leuth says, I can go to the supermarket and buy food every day, If i need to i can cut back and not buy some products without any impact to my convenience. I can't cut back on rent without uprooting my life or breaking the law. 
  • You know MORALLY. In reality - when all is said and done.

    What is right about someone being able to sign a bit of paper for a house and then getting someone else to find someone else (lets call them a victim) who cant sign a piece of paper for 25 years and them then paying £300,000 as a guess amount over that period and then the first person (lets call them the parasite) OWNING the house outright and telling the person that paid for it to get out.

    Its basically bullshit isnt it? You know when you actually think about it.     

    because they take on the risk, you know, the risk they don't want to have to actually deal with when it goes tits up. 
  • .
    Best post of the day.
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