Small landlords selling off isn't a great news after all

I’m not saying it’s lies. I’m saying be careful what you believe. A lot of people are out to blame “foreigners” for everything because it suits them

Accidentsl landlord from inheritance. Reluctant to sell as want to move there when retired . But the stress and cost of compliance make it hard to see what else to do . Ironically until.recently someone had lived there in comfort and style but would need retro fitting to comply . If I had tenants and needed to sell in 3 years or move in myself , where would they go? No social housing in the area or 10 year plus waits and of course in the meantime, paying rent even modest, means they can't save .

Landlord haters (whose perspective I do understand, I rented for 10 years) should have been careful what they wished for. Having Blackrock as your landlord may be far worse than a normal person renting out their old flat.

So this must be lies.

https://www.serco.com/uk/sites/serco-aasc/landlords

Part of this thing where a lot of landlords are selling up has come about because interest rates have gone up so there's not as much easy money in it. A lot of landlords think themselves as very benevolent, while somebody else was basically paying off their mortgage. So no sympathy from me, except for the tenants who in many cases are now left with nowhere to live. My cousin is in a situation where the landlord is selling the place from under them so they have to put up with viewings while still paying full rent- he should get a discount!

I don’t think you’re being asked to cry a tear for that person. The fact is, that person was a relatively reasonable landlord. Now replaced by massive businesses, often based abroad. Treating tenants a whole lot worse. Mr Audi has probably sold the six properties and emigrated.

It's called enshittification where these large players flush with cheap cash can buy out anyone and just raise prices - it creates a renty economy where the public pay more and more for less and less.

Unfortunately the only solution is capital controls but then major parties would have the newspapers on their backs saying they are anti business and anticapitalists.

This is the sort of shite my dad believes too. A council block of flats moved tenants on a while back, and he was convinced it was to move "the boat people" in. It was because the buildings needed a lot of extensive and timely work.
Can't convince him otherwise though.

Problem is they can’t replenish the stock they lose via right to buy.

It was the previous government that started the legislation changes though, presumably to line the pockets of their mates.

Changes to landlords rules, regulations, taxation, mortgages, insurance has been getting harder over the past few years.

We bought houses for our 3 children, they paid rent which paid the mortgage. When they had enough saved enough they bought us out at preferential rates. We raised deposits, one at a time, by borrowing against our house. It's worked well and all are on the housing ladder now.

However on each time the conditions costs etc got harder. We noticed that if we HAD wanted to make a profit/rent commercially then we'd have had to charge a lot more and would have made little profit, if any.

It's actually true. A couple of my clients are landlords and they've been approached with silly offers for long term tenants - far more than they could hope to achieve on the open market.

We were the same and sold 5 rentals. We had wonderful tenants and felt we were fair. Our tenants stayed for ages and had pets etc. I’ve always said this isn’t good news. Everyone hates landlords but not everyone is in a position, nor wants to buy.

Just be careful of believing things like this.

Private renters are being kicked out because landlords are being given huge financial incentives to put asylum seekers into the properties😡

Yes.
So many pp's saying they could never be a LL but are actually benefiting from large property companies via their pension pot.

I’m afraid I’m doing the same thing for the exact same reasons.

It's like it was with food...
Plenty of small companies making nice stuff, then they all ended up sold to big corps and now we have crapton of shite and expensive frankenfood owned by handful of companies who can do and charge wtf they want.

I found smaller landlords better than big corps when needing repairs etc. But that's just my acendotal experience.

I don't really recognise the picture given here of decent small landlords tbh. DH and I have recently been lucky enough to buy a house outright (well we are knocking on a bit now, and it was partly due to inheritance).

But due to moving round the country we've rented on and off, alternating with being home owners, over the last 20 to 30 years, and I have to say my experience of small private landlords was mostly appalling. Penny pinching, reluctant to do repairs unless forced to. The multiple occasions when we've been without a working boiler because the landlord won't pull their finger out. And they seldom get it serviced, just the annual gas safety check and that's only because they're forced to do that by law. Whereas as owners we have always had the boiler serviced annually. So why wouldn't a landlord?

And yet the tenants are paying very good money for this all to be taken care of. In theory. But the sense of powerlessness as a humble tenant is so frustrating! It's so nice now to know that if anything breaks down we can get in our choice of tradesman as soon as we like, and we never have to rent again.

It's soul-destroying really. Then the frequent interference and intrusion from the agents. Then they try to rip you off with the deposit when you leave, often for faults that were present at the start of the tenancy.

Admittedly we did have one decent landlord many years ago in a rural area, more of an accidental landlord. But in general I am not a fan of the small private landlord, no. Perhaps it is foolish to imagine that corporate landlords would be any better, but you would imagine their procedures would be more standardised and they'd pay more attention to the law. In any case I don't really see how they could be much worse than the buy to let crowd.

Oh my heart just bleeds at some of those tales from poor hard up landlords

This is sad. The best landlords I had were the small ones.. the ones that were accidental landlords and had just the one property.

By best friend is about to become a landlord... just the one house. She has tenants already (house not ready yet, she is still living in it!) and would like them to stay for 2-3 years. It is a lovely family home with a huge garden. She is having to use an agency as she wont be local at all. She has little left on her mortgage, so it is not like she is relying on the tenants to pay for it.

Unless you are in the USA, the bit about credit scores in nonsense. No one sees them apart from you and the company that provides them. They’re basically useless and just a marketing tool the credit referencing agencies. Lenders and those credit checking you do not seem them.

That really would have been the ideal for everyone. There’s almost enough houses, it’s just shifting ownership.

not sure how you’d do it though. special mortgages with proof of payment to prove incomes? No stamp duty and no capital gains tax for the landlord? Something like that?

We used to own 4 BTLs. Last one is advertised now and will go when current tenancy ends.
Since 2000 when we started, everything is more complicated and it has not benefitted any of our tenants.
Obviously most of the population is pleased they voted Labour to make all this happen.
You can't blame this on Brexit 2016.

Lloyds are going to make a fucking killing out of the tax payer when generation rent retire.