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Original poster

A couple on Homes Under The Hammer own 900 properties?!

272 replies

nc777 · 01/11/2021 11:43

How is this even ok?!

Just now on Homes Under The Hammer there was a couple who work in the family business with 30 other staff.

They buy 30 properties a month. Renovating 60 properties at any one time. They then rent them out and sell some on as investment "packages" I.e. several properties jumped together and sold on to an investor who then rents them out.

They're not even renovating to sell on, they're renovating to rent out.

900 properties???!!! That's 900 properties that could have otherwise been left for the local population to buy.

Am I the only one who finds this sickening?

OP posts:
ImUninsultable · 01/11/2021 12:14

@wallowmall

You are.
Contrary to the opinion on mumsnet, lots and lots of landlords are not wealthy and have other jobs. You raise taxes on rental properties then you shut down their ability to do it.

wallowmall · 01/11/2021 12:14

Are you equally uptight about companies that provide thousands of hired cars, or chemist shops or supermarkets? Would you prefer to fly with an airline that only owns two planes?

Cause that's exactly the same. 😆

DismantledKing · 01/11/2021 12:14

@ImUninsultable

I know mumsnet hates landlords and anyone with a few properties is the devil but you're being ridiculous.

If you dont like it, you can always go start campaigning for change and see if there is any real support for the cause.

I’m a landlord (my old house after I moved in with my spouse), and even I fucking hate them. Parasites.

Interested in this thread?

Then you might like threads about this subject:

TV
Original poster
nc777 · 01/11/2021 12:16

@2bazookas

What's wrong with providing lots of homes for people to rent? There's a huge demand for renting by people who don't want to buy.

Are you equally uptight about companies that provide thousands of hired cars, or chemist shops or supermarkets? Would you prefer to fly with an airline that only owns two planes?

Because we're in the middle of a housing crisis.

Hire car companies owning lots of cars, does not push up the price of my car 🙄

OP posts:
EvilPea · 01/11/2021 12:19

My “favourite” one was post renovation the estate agent went round and valued. He said about the kitchen “it’s not been done to a good enough standard to sell, but will be fine to rent”

Fuck the renters then, it’s not like they will want their deposit back at the end and have to fight the fact it was a shit fitted kitchen and that’s why it’s fallen apart with basic family use.

wallowmall · 01/11/2021 12:20

You are.
Contrary to the opinion on mumsnet, lots and lots of landlords are not wealthy and have other jobs. You raise taxes on rental properties then you shut down their ability to do it.

Nope, again we are taking about the likes of those that have 900 properties. I wouldn't say that's representative of the landlord on MN who rents out another property & works elsewhere.

EvilPea · 01/11/2021 12:21

There's a huge demand for renting by people who don't want to buy

And most (not all, but a lot if not majority) who would love to be able to buy and give their family a settled home and be part of a community.

NavyCream · 01/11/2021 12:22

I hate this. How the hell are our children supposed to get on the property ladder when the available properties are being hoovered up by people like this?

wallowmall · 01/11/2021 12:23

Ever increasing house prices are not a good thing for the majority of the population & it's wrong that they are the only real driver of our economy now & one reason we have a productivity issue.

RachelHasThoseInBurgundy · 01/11/2021 12:23

@EvilPea

My “favourite” one was post renovation the estate agent went round and valued. He said about the kitchen “it’s not been done to a good enough standard to sell, but will be fine to rent”

Fuck the renters then, it’s not like they will want their deposit back at the end and have to fight the fact it was a shit fitted kitchen and that’s why it’s fallen apart with basic family use.

Yeah they always do that. Loads of people when saying what work they will do talk about “if we were going to sell, obviously, we’d do it to a higher spec but this is just for rental”

So shit spec is fine. Of course this is no surprise to anyone who has viewed or lived in rental properties.

Mybalconyiscracking · 01/11/2021 12:24

Good for them, I would say they are probably entrepreneurs who work hard and have gained the rewards.
There have to some landlords, not everyone can buy, or indeed wants to.

PhiOmicron · 01/11/2021 12:27

Absolute leeches.

Staryflight445 · 01/11/2021 12:30

As long as the 900 houses are up to a nice living standard I couldn’t care less tbh. It’s got to be better than the people that buy properties and barely make them look like they’ve been kept to a good standard and then rent them on.
There was a mum and son on there last week and they bought a flat and left the bathroom suite in just because it still worked. It was like olive green?

Just because people cannot afford to buy a property it shouldn’t allow these landlords to keep their properties in such dire straights.

GameofPhones · 01/11/2021 12:33

I think something like this may be happening with houses for sale, as well. Most of them have obviously been newy refurbished, yet it is impossible now for the private householder to find a reliable tradesperson. How are these refurbishments getting done?

GraveyardPlotsAndDoomedScreams · 01/11/2021 12:36

In fairness, that olive green bathroom suite is probably better quality than the cheap white ones about today.

The cost of a bathroom when coloured suited were popular was much much higher pro rata than today, and in general they were better made. It might look dated, but I doubt there's anything wrong with it.

Gimlisaxe · 01/11/2021 12:37

The problem with that many properties, is if they jack it in, thats 900 families made homeless all at once.

I think that actually happened somewhere as well, I can't find it on google though

Patapouf · 01/11/2021 12:40

900 is obscene and there ought to be legislation to prevent anyone outside of a local authority owning this many homes.

Houses should be homes, not a commodity and it disgusts me that this is seen as a legitimate way to invest money.

I agree with a PP that 2 per person is reasonable, it allows for a holiday home/ inherited property/ one BTL etc. Not that I agree morally with any of those things either but I'm realistic in what I can expect the British public to sacrifice 😉

wonkylegs · 01/11/2021 12:41

I agree with @Staryflight445
If you raise the minimum standards for rental properties and enforce it then it would not only make the rental market better for renters but reduce the demand for property from those hoping to buy and flip or rent with a lick of paint but no real investment
There will always be a need for rental and landlords (students, short term contracts, precarious finances etc) but we need to make that equally as good as ownership not its poor relative.

jackstini · 01/11/2021 12:43

Well until the government can afford to buy all the properties by raising your taxes, the private landlords have to exist so that people who want or need to rent can do so

It's the the couple that own them, the business does. They are providing jobs for 30 people and probably paying a huge amount of tax

It's a business. I don't get why people are so down on this particular area of business but happy with others.

They worked hard, expanded and provide a service

We don't have an ideal rental housing situation in this country, but until things change, we need people to own and rent property. Agree it needs better regulation for both tenants and landlords though.

wallowmall · 01/11/2021 12:48

If you raise the minimum standards for rental properties and enforce it then it would not only make the rental market better for renters but reduce the demand for property from those hoping to buy and flip or rent with a lick of paint but no real investment
There will always be a need for rental and landlords (students, short term contracts, precarious finances etc) but we need to make that equally as good as ownership not its poor relative.

Exactly

Original poster
nc777 · 01/11/2021 12:54

@EvilPea

My “favourite” one was post renovation the estate agent went round and valued. He said about the kitchen “it’s not been done to a good enough standard to sell, but will be fine to rent”

Fuck the renters then, it’s not like they will want their deposit back at the end and have to fight the fact it was a shit fitted kitchen and that’s why it’s fallen apart with basic family use.

Fucking hell!

OP posts:
HouseCart · 01/11/2021 12:55

We shouldn't allow more than 1 property per individual. Or outside of principal residence it should be taxed so heavily so that its not actually profitable. Or does everyone love this feudalistic model of land/property owners vs the rest of plebs?

Then commercial landlords need to be regulated so that there are adequate standards. And there should be a lot more partnership rebuilding into eco-friendly, renewable materials and energy sources, well-insulated modern housing fit for future and climate change.

Property prices have gone up so much in the past 2 decades it is simply insane for our kids to expect to work and save and be able to afford their own home on their own standing. Similarly rent goes up so they will have some insane yield levels for properties bought a long time ago. Whether or not they are good responsible landlords are totally irrelevant.

Staryflight445 · 01/11/2021 13:00

‘ In fairness, that olive green bathroom suite is probably better quality than the cheap white ones about today.

The cost of a bathroom when coloured suited were popular was much much higher pro rata than today, and in general they were better made. It might look dated, but I doubt there's anything wrong with it.’

^

That’s alright then is it? To rent? Are renters not allowed standards too?
Shall landlords just keep up 80s carpets, wallpapers, kitchens etc all in cause it’s good quality and works?

No.
Don’t be silly. Everything should be replaced every 15 years at least, to keep it fresh, new and up to standard.
Even the council do that much.

Siriisatwat · 01/11/2021 13:04

@ItRainedForever

He used to lick and choose who he would rent to

Grin I know this is a typo but I wouldn't put it past some landlords I've encountered!

He was vile - so bet he would have if he could have!
PinkSparklyPussyCat · 01/11/2021 13:04

I agree with a PP that 2 per person is reasonable, it allows for a holiday home/ inherited property/ one BTL etc. Not that I agree morally with any of those things either but I'm realistic in what I can expect the British public to sacrifice

If you don't agree morally with inheriting a property what do you suggest happens to a house when someone dies?