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BTLers, do you think it's fair that your tenants are buying your property for you?

(663 Posts)
Quax Tue 29-Jul-14 09:21:07

I'm really interested in all opinions.

I, personally, think it's immoral.

Mumoftwoyoungkids Tue 29-Jul-14 09:25:55

Not a BTLer but I have lived in a flat owned by professional BTLers..

I have no problem with it. They were providing me with something I needed and I gave them money for it. Pretty far swap really.

It helped that it was a lovely flat that they kept immaculate and the first hint of problems they got out a professional to fix it.

Mumoftwoyoungkids Tue 29-Jul-14 09:26:48

Pretty fair swap even.

BuzzardBird Tue 29-Jul-14 09:30:25

Well, wouldn't the same be said for anything that you hire? If you hire a car/dress/house/machinery you are paying towards what it cost the owner to buy it.
Being a Landlord is a business too, although accidental in a lot of cases.

I see no need for guilt.

technosausage Tue 29-Jul-14 09:36:06

How weird, why on earth do you find this immoral? I own a property that I rent out, it pays for its self and gives me a little bit extra money that I'm putting back for my children's future.

Squidstirfry Tue 29-Jul-14 09:36:41

This is present day UK.
The 'haves' exploit the 'have nots' the rich get richer.

Squidstirfry Tue 29-Jul-14 09:37:34

Lol at "It pays for itself"

Your tenents are paying for it!

KnackeredMuchly Tue 29-Jul-14 09:40:02

They are not selling your soul, they are people who have more money/more access to funds than you do and are speculating on a market and hoping to get a good return. Like most other people in business. hmm

ftmsoon Tue 29-Jul-14 09:40:05

Quax Don't rent then. I was happy to rent when I was single and moved about a lot. The obsession with buying, afaik, is only in this country. Lots of other EU countries' citizens rent for their whole lives.

Squidstirfry Tue 29-Jul-14 09:43:07

When homes for people to live in and raise a family have become 'business' that is precisely the problem, KnackeredMuchly.

It’s only immoral when the LL will not put any of the money into keeping the house in a good state for the tenants. Too many BTL LL just don’t give a shit.

Quax Tue 29-Jul-14 09:46:32

Buzzard If you class dresses and cars as the same as having a roof over your head at night I might agree with you. Thing is, having somewhere to live is pretty much essential.

ftmsoon I don't rent privately, I'm a HA tenant. Your post does prompt me to ask what alternatives you think exist for those who are currently renting privately and would rather not continue?

Squid Thanks for clarifying my point smile

MrsRonBurgundy Tue 29-Jul-14 09:46:59

My tenants may be paying the mortgage for the time that they live in the house but:
- I saved hard and paid the deposit when I decided to do this
- I pay for and organise all repairs and maintenance to the property
- I have the responsibility for the rent whenever the house is empty between tenants

It isn't as though they're transferring money into my account and not getting anything out of it. They are paying for a service.

Not everybody is in a position to buy and renting is their choice. I know that I had a good few years renting whilst i've saved for house deposits. Some people also prefer to rent.

I really don't believe what i'm doing is immoral.

shushpenfold Tue 29-Jul-14 09:48:59

Quax - we have a house provided as part of my husband's exactly would you suggest we keep in touch with the housing market?

BMW6 Tue 29-Jul-14 09:52:25

OP - why do you accuse only BTLers of this "immorality"?

Council owned properties are let to the Tenants - by your logic the Council is also immoral as the Tenant is "buying" the property?

Housing is a commodity like most other things in life - not everyone can afford to buy their own place, and I can say after having rented for 26 years there are advantages in renting over buying. For one thing, a tenant has no responsibility for repairs - if my boiler needs replacing (which it will in a couple of years) I have to save up the £3k+ that it will cost.

A new roof would cost over £10k. Electrical rewiring cost us £2.5k when we first moved in to our mortgaged home. Altogether we had to spend over £10k to bring it up to scratch, as it hadn't been touched since the Seventies and was a bit of a shithole.

That is the real responsibility of home ownership - it's just not the case that a Tenant is effectively buying the property for the Landlord, as the Tenant is not investing any capital nor taking the financial risks involved.

Have another (realistic) think about it.

Athrawes Tue 29-Jul-14 09:53:23

As a landlord I am providing a service. My tenants get a house at a fair price and I take the risk on insurance, them trashing it, the market collapsing etc. Yes, there should be more council housing but my tenants can claim benefits to pay their rent so they are not being disadvantaged. I used to rent and eventually decided to buy my own house. I worked hard and saved up.
Some people can't afford to buy a house. This has always been the case. Maybe it is immoral that some people have more than others? Are you proposing that we work different jobs at different skill levels and all get paid the sa?

Flexibilityisquay Tue 29-Jul-14 09:53:47

Yes I think it is fair. I provide a decent place to live at a reasonable rent, and fix things as they need fixing. The tenants are happy, I'm happy. What is immoral about that? I have also happily rented from private landlords in the past, when that is what suited me. What do you think should happen instead OP?

Koothrapanties Tue 29-Jul-14 09:53:52

Funnily enough, it costs to live somewhere. A btl LL is providing that place to live, why would they give it away for free?

Not all LL are scum you know. Many look after their tenants and ensure that they have a safe, well looked after home. Usually if someone is renting, they cannot afford to own that outright so what else would they do?

I really don't get your point. confused

Boomeranggirl Tue 29-Jul-14 09:58:43

Not at all immoral. I'm a landlady, I keep the property in good working order, negotiate rental prices with tenants and make sure everything is as it should be. I have had immoral tenants, including one lady who wanted a whole new carpet in the lounge, which is an open plan living room and kitchen so left the freezer door open so the motor would break, freezer leaked and carpet was ruined. Only found out after I put in a whole new carpet angry. Another dropped they keys off through the letter box and did a runner halfway though an agreed tenancy. I could go on and on!

Are you suggesting a communist society where everything is held as communal property with no private ownership?

Nancy66 Tue 29-Jul-14 09:59:10

never viewed it that way when I rented. I had somewhere to live, they got my money. It's a business transaction

Where would people who are renters live if there weren't buy to letters? I don't think it's at all immoral. We couldn't sell our house without making a loss but needed to move so we rent that one out and bought a new house. The tenants are in a new relationship and want to rent together before buying. I can't see your problem.

PrimalLass Tue 29-Jul-14 10:00:52

I never felt like that and plan to buy a 'pension' flat next year. There is nothing to rent here, so it would be supplying a need.

juliascurr Tue 29-Jul-14 10:00:54


council housing is precisely NOT a commodity, thats the whole point of it. it's for use, not profit. We should have much more of it

btl prices 1st time buyers out

Athrawes Tue 29-Jul-14 10:01:52

Well I guess the point is that if we only bought one house per family then the house price might be lower and so more affordable?

PossumPoo Tue 29-Jul-14 10:02:21

You need to pop over to house price crash forum they love nutters like you where you'll find like minded people...

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