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AIBU?

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Original poster

Selfish bastards on Homes Under The Hammer

533 replies

SquishyBones · 02/07/2020 07:59

Watching this shit show as I was bored and a family bought a house. The woman then proudly explained that they already own 700(!!!) houses in the area already and are hoping to own 1000 by the end of the year. How the fuck is this even allowed?? AIBU to think selfish bastards like this should be stopped and there should be a cap on how many properties a person can own? Even 10 houses per person would be ridiculous but would stop the likes of these people

OP posts:
Nanny0gg · 02/07/2020 17:08

Wtf needs 700-1000 houses? It’s pure greed. I was actually really pleased when it turned out in the end that they hadn’t actually made any profit on it.

So if they sell up, where will all their tenants live? Where I am there aren't enough rental houses for the market.

bridgetreilly · 02/07/2020 17:14

People owning property for the rental market doesn't reduce the total amount of housing available! The comparison with the toilet paper shortages is laughable. Housing is not a consumable commodity. Whether or not it's owned privately, or rented privately or through a housing association or whatever, it's still a house that's there to be lived in. No one is selfishly buying up property and refusing to let people live in it. Or if they are, it's second-home owners, and foreign investors buying mansions in central London. It's not people on bloody Homes under the Hammer ffs.

SchrodingersImmigrant · 02/07/2020 17:15

So if they sell up, where will all their tenants live? Where I am there aren't enough rental houses for the market.

The tenants will magically afford to buy the houses! Don't you know? 🤷🏻

Oliversmumsarmy · 02/07/2020 17:18

With maintainance costs on top you make very little profit. The money is I the risk of property cost rising long term

This doesn’t apply in this case as they DONT OWN 700 HOUSES

Redroses05 · 02/07/2020 17:37

@Nanny0gg

Wtf needs 700-1000 houses? It’s pure greed. I was actually really pleased when it turned out in the end that they hadn’t actually made any profit on it.

So if they sell up, where will all their tenants live? Where I am there aren't enough rental houses for the market.

The housing would have to take responsibility and build more homes which are a lot cheaper than private housing and also you get a more concrete contract.
agentnully · 02/07/2020 17:42

I became an accidental landlord but sold up a few years back.

I had a few really great tenants then a few bad ones - the last of which made me decide it was no longer worth the hassle.

I kept the rent lower than similar properties as I didn't have a huge mortgage like some landlords and I offered long tenancies. If something was broken a tradesman was there the same day (I'd found some great ones along the way). The only time something couldn't be sorted the same day was when a part was needed. I never kept anyone waiting longer than 48 hours and the only time that happened was for a cooker ring.

My last tenant was a nightmare. Claimed CO poisoning after tampering with the boiler (security sealed as controls were outside). Only my neighbour's security camera footage caught him putting a pipe from the car exhaust into the vent!

I wasn't prosecuted thanks to this evidence (they apparently only take the tenant's side these days unless evidence can be shown) but the tenant still managed a £100k payout from my insurance who thought it easier to pay out than fight it! Now, if I can get insurance at all for anything, I have to pay a fortune for it.

Never again. No good deed goes unpunished they say and I now believe they're right. I treated people as I'd liked to have been treated and am still friends with some of my tenants who only left to buy their own property. But the bad tenants were awful. I had no idea people could behave like that in a rental property.

I was unlucky as most tenants are good but best of luck to them. I'm sure having so many properties they run it a lot differently to me and will be a lot better off. Not so sure about the tenants, though. Can't imagine professional landlords putting up with a load of crap off their tenants for long.

Oliversmumsarmy · 02/07/2020 17:46

I'm sure having so many properties they run it a lot differently to me and will be a lot better off

They are not long term landlords. As soon as a house is tenanted it is sold

phoenixearthworm · 02/07/2020 18:05

It's nothing for them to be criticised for, they can afford the houses and they are providing homes. I doubt their tenants could afford to buy a house or they wouldn't be renting so what's the problem?

Jux · 02/07/2020 18:11

I think the real selfish bastards are the ones with holiday homes or second homes. Homes which aren't rented out to local people at reasonable rate and aren't maintained.

No one NEEDS a second home.
No one NEEDS a holiday home.
Not when we have such a shortage of housing.

I think Councils should charge 400% Council tax on holiday and second homes in their areas to compensate the local population for losing yet another house and year-round regular business.

OnlyFoolsnMothers · 02/07/2020 18:12

i think Councils should charge 400% Council tax on holiday and second homes in their areas to compensate the local population for losing yet another house and year-round regular business how do you prove what’s a second home?

Sertchgi123 · 02/07/2020 18:14

We need rentable properties. I can't see the problem, unless they are poor landlords.

FizzAfterSix · 02/07/2020 18:25

Many people want to rent property, to do this there must be landlords. Being a landlord is hell on earth so if this woman can survive 1000 tenants good luck to her.

McCanne · 02/07/2020 18:27

YANBU. Buy to let is one of the reasons we have a housing crisis and a shitty economy built on inflated house prices

MintyMabel · 02/07/2020 18:29

general consensus that landlords are vile on MN is because there are so many incidents of them being vile, there's no smoke without fire.

Because nobody will post about a landlord that is ok. I’ve been a landlord and had many landlords and neither they nor I were vile.

Oliversmumsarmy · 02/07/2020 18:29

Does no one read the thread

Dollymania · 02/07/2020 18:38

No one NEEDS a second home.
No one NEEDS a holiday home.
Not when we have such a shortage of housing.

technically no one needs a property at all. Allocate one bedroom per family with shared bathroom and kitchen and problem solved. I call a studio in Kensington Palace! Or did someone already thought about that....

The "shortage of housing" is absolutely bollocks. The South East might be a very busy market, but there are so many areas in this country where properties stay on sale for months or years and can't find any buyer.

Treacletoots · 02/07/2020 18:40

Rates of home ownership are actually at one of the very highest they've ever been, except for a slightly higher level back in the 90s.

The myth that noone can afford to buy their own home because of the greedy landlords is quite simply, bollocks. Also, that they should be entitled to buy a home wherever they wish just because they want to, and if they can't, spout venom at those people who can afford to..

The truth is, most people can afford to buy their own home. Whether they can afford to buy in the area they want, in the size and condition they want, and retain the lifestyle they expect to keep themselves in, well that's another matter.

Want to live in London, good for you. Don't moan that you can't afford to buy. Housing up north is far more affordable and contrary to popular opinion we have running water, electricity and plentiful jobs too. Hmm

Many landlords buy up houses that buyers have often turned their noses up at, renovated and created homes for people to live who otherwise would be homeless because we have NO social housing.

And is it fair they pay the full market value for the rent? Of course it fucking is. You wouldn't work for less, or ask for any other service or product discounted for no reason, this is no different.

MotherMorph · 02/07/2020 18:41

@Jux

I think the real selfish bastards are the ones with holiday homes or second homes. Homes which aren't rented out to local people at reasonable rate and aren't maintained.

No one NEEDS a second home.
No one NEEDS a holiday home.
Not when we have such a shortage of housing.

I think Councils should charge 400% Council tax on holiday and second homes in their areas to compensate the local population for losing yet another house and year-round regular business.

you're right no-one needs a second home, or a holiday home....but for most people its nice to have options to go on holiday... if no one had second homes the choices would be -hotels and b and bs camping caravans ...where does center parks fit in...? is that ok?
Redroses05 · 02/07/2020 18:51

@Treacletoots

Rates of home ownership are actually at one of the very highest they've ever been, except for a slightly higher level back in the 90s.

The myth that noone can afford to buy their own home because of the greedy landlords is quite simply, bollocks. Also, that they should be entitled to buy a home wherever they wish just because they want to, and if they can't, spout venom at those people who can afford to..

The truth is, most people can afford to buy their own home. Whether they can afford to buy in the area they want, in the size and condition they want, and retain the lifestyle they expect to keep themselves in, well that's another matter.

Want to live in London, good for you. Don't moan that you can't afford to buy. Housing up north is far more affordable and contrary to popular opinion we have running water, electricity and plentiful jobs too. Hmm

Many landlords buy up houses that buyers have often turned their noses up at, renovated and created homes for people to live who otherwise would be homeless because we have NO social housing.

And is it fair they pay the full market value for the rent? Of course it fucking is. You wouldn't work for less, or ask for any other service or product discounted for no reason, this is no different.

Your view is quite mean I’ve lived up North all my life and it is a lot cheaper. However I’m lucky that I don’t have some of the disadvantages people have in London areas. I’m not sure it’s as simple as to you and leaving your whole life and all you have ever known because housing prices are astronomical. How ignorant.
Oliversmumsarmy · 02/07/2020 19:05

Treacletoots
Dd has bought a place up north. Bought for cash, spent money doing it up. She doesn’t live there and is selling it soon then she will buy another then another till she can afford one in an area she does want to be

SchrodingersBox · 02/07/2020 19:07

If it bothers you why don't you buy lots of houses and rent them out cheaply?

lyralalala · 02/07/2020 19:07

This thread does actually show how people jump at things as soon as LL's are mentioned

The couple in the programme don't have 700 houses. They have 60. They have, over the years, bought 700 houses, done them up, put in tenants and sold them on.

Oliversmumsarmy · 02/07/2020 19:12

You are talking to a brick wall lyralalala

I have said this over and over and it doesn’t get through.

As soon as Landlord is mentioned all reason goes out the window

lyralalala · 02/07/2020 19:21

I do think more councils, especially where social housing is in short supply, should have the scheme that I've been involved in over the last few years.

As a LL you sign up and you register as a LL. The Housing Officer inspects your property annually, or between tenants, to check that it is a fit habitation. You let the property for a fair and reasonable rent, comply with all requirements like gas certs, and they list you. That shows prospective tenants that you are a decent landlord.

In return they give your details to prospective tenants, the help avoid voids because they very often have urgent cases that they can't house (plus they'll work together with your outgoing and incoming tenant to co-ordinate if they are moving te outgoing one into social housing), they'll often help prospective tenants with their deposit, and ours also gave you access to their repairs teams at really decent rates.

It was a really good system and it really hammered the exploitative LL's locally. Sadly it's being scrapped, probably due to cuts. It's a shame because it gave tenants good peace of mind.

DeeCeeCherry · 02/07/2020 19:26

If it’s the Kent couple, they gave eviction notices to 200 tenants who were on benefits apparently as they were concerned about non payment of rent

Disgusting.

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