To think that Landlords have a bad name.

I have no problem with the concept of rented property, letting agents or landlords, per se, as they are necessary up to a point, but I do think the sheer number of them is definitely an issue.
I also laugh when a landlord claims any sort of altruism.

I wonder if there are statistics showing how many LLs let their properties at below market rent.

That said, there is data on how many people earn a six figure salary and they all seem to be on MN. 🤷🏻‍♀️

I agree there is a role for private provision. But it should be on a properly regulated, professional basis structurally.

There should be profit in it, but only from carefully controlled rent levels. Even the most saintly private LL now is (usually) gaining by the fact of ownership and the fact of rent profit.

And TBH, there really aren’t many saintly LLs.

This is without the scourge of personal hoarding: wealthy people who own more than one property for their and their family’s own use.

FWIW, I don’t think foreign owners make any real difference. It’s BTL (there’s no such thing as an accidental LL) that needs stamping on.

This!! 👏👏

@Arewe29 so you're saying you decided to be a landlord for multiple properties to help others? To be their saviour?

It may help you to explain your reasons for buying and renting out 3 properties.

A compromise would be allowing people to be landlords but only if they actually own the property outright and cap what they can charge for rent. Let's see how many LL stick around then

You can't actually afford your 3 properties

I think it is morally wrong to buy houses as investments. It inflates prices and means many young people are outpriced. I think many of the defensive landlords on this thread know this which is why they are so defensive attempting to justify the fact that they are making money from housing.

Rentals are becoming extortionate because landlords are profiteering. I have a friend paying £1,150 a month for a very small 3 bedroom house for herself and two DC. A house that the landlord (who lives 300 miles away) purchased for £130k in 2012. My friend has no choice other than to rent after her divorce because her £25k per annum salary does not allow her to pay that level of rent and also save for a deposit. The house hadn’t even been cleaned when she moved in. All of the double glazed windows are blown and it’s just not really well looked after. That landlord probably considers herself as a “good landlord” too after all she’s letting the paupers live in her property for a “market rent” and they can’t afford to live anywhere else 🙄

The trouble here is that many of the posters here lack nuance or the ability to see out of their very black and white, "all landlords are scum" perspectives. It's not as simple as that.

There are many valid reasons why some people may choose to rent over buying. Students, people who are new to the area and aren't sure if they're going to stay, people on temporary work contracts to a new area, people may be moving to be closer to an ailing relative and only need to be there for a short time, etc.

If you removed renting as an option-what would those people do?

Don't get me wrong-there is absolutely an issue with property investors buying up huge chunks of our housing stock and the issues that come from that are massive.

But it's not as simple as "all landlords are scum. They shouldn't be allowed," because that would remove the option of renting from the people who need it. There are people who can't buy a home due to poor credit history-should they be homeless then until their credit rating improves and they can buy?

Some of you don't think things through to their logical conclusions. If you think landlords shouldn't be allowed to exist-what is your solution to the people that need to rent-for whatever reason?

What we probably need to do is to remove the incentives for people, buying up huge chunks of property, build more affordable housing and social housing, and really tackle the bad landlords and hold them to account. But, like it or not, there will always be a need for landlords because not everyone's circumstances suit buying a home.

”One home is rented at LHA to a Mum on UC, that if we did not rent out to her she would be in temp accommodation and on the housing list for 10 years in an area with no local connections.”

Yes but every landlord on MN has a similar tale. I have my doubts that every one of them is true.

Sounds like you’re blowing your own trumpet too! 😂

House building is not as simple a solution as people suppose. Available, viable land, infrastructure and NIMBYism (from all quarters) limits it enormously.

That’s great. But not all landlords are like you and in any case you can sell or change use more or less whenever you like, taking the home away from the tenant.

The reasons for the need for radical change are structural, not personal.

You just shouldn’t be allowed to own that house without much more stringent controls and protection for the tenant.

Landlords are the scapegoat. The real issue is that the UK population is growing far more quickly than the supply of new homes. Look at the statistics. The solution is to build more homes, not debate who owns them.

The starting point has to be a default position that nobody can own more than one property. Those who do own more than one property should only do so for the purpose of being social housing providers.

I am by nature a free market capitalist. But anyone with any sense can see that housing is not a normal market, principally because we can’t make more land, and that there is an acute housing problem in this country. We really need to act. It would take a few years to phase in but I believe it could be done successfully.

Private LLs are the root of the problem.

Because it is so common to have landlords in this country who let substandard properties, fail to maintain them and do urgent repairs and who instead just evict tenants to avoid fulfilling their responsibilities.

Not to mention the extortionate rents.

Also the issue with people like you owning 3 rental properties and your own I that it means that there is less housing supply for buyers who just want a rough over their heads and that helps pushing house prices up.

There is something parasitic about many landlords.

Why can't people afford mortgages? Because landlords acting as vessels for banks, have hoovered up all the housing stock, increasing scarcity and therefore price of mortgages. You are all scum.

What an absolute load of tripe.
You have conveniently ignored the many posts about LL all selling up and there still being a housing shortage and prices are still increasing - doesn’t fit your narrative does it?
Also, your language is ridiculous?? Leeches? Blood-sucking? Cancer???
It is so emotional it makes me think you may have a touch of the green eyed monster

Yes of course I know there are some circumstances where people are happy to rent as I said in my post. I was objecting to OP’s assertion that “most people are happy to rent”. A lot of people are trapped because they can’t afford to buy - not enough deposit for example- meanwhile their wages are all spent paying off someone else’s mortgage- helping them accrue even more capital, which they can use to buy even more houses.

I'm not even paying off my LL's mortgage. It was his mums so he inherited it. I'm just paying for his boat now.

We rent one property and similar to you - have a young couple in, we allow animals, we get things fixed and let tenants decorate and rent for under market rate. We used to live in the property, the area has really come up since we started renting it but we haven’t been greedy. Our tenants have just signed an 18-month lease on their behest. Great for us as we don’t have to worry about finding new ones.

I understand why renters are upset. It would break my heart to be paying off someone else's mortgage every month and have nothing to show for it.

Some posters are saying ALL landlords are <insert insult here>

Say there are 100 houses and 95 people. When people move/sell their house they might make a profit but generally there is some flexibility/flow for people to be able to move.

now there are 100 people. It’s harder to move but can be done with a lot of negotiation and some people take advantage of that.

now 30 of the houses get bought by someone else and the 100 people have to fight each other for the 70 houses by offering more and more money

this is the basic issue people have

Why do you care?

it your a good landlord then the posts about bad landlords don’t apply to you.

do you want a biscuit and a pat on the back for not being a douchebag?

and by the time you’ve paid stamp duty/solicitors fees/done any renovation you are back to where you started.

we certainly couldn’t move without making some money on our house.