To hate landlords?

[MsPeachh]

Last month, I had to move suddenly. I found the flat I’m in now, it had just been bought by my landlord and I’m the first person in after the former owner moved out. It’s an ex-council house that the owner had purchased under “right to buy” and now I have to pay a third of my salary to a private landlord for what was originally meant to be affordable housing.

I’m a scientist in my late twenties with good qualifications and I feel total despair that I might never be able to afford my own home, and I will be lining someone else’s pockets via rent for the rest of my life. Let alone what anyone in a position less fortunate than mine is supposed to do.

To make matters worse, I looked up my landlord’s info on Companies House and I discovered that they have 22 properties in my area! It’s a village on the outskirts of a town where lots of people move when they are ready to move out of the hustle and bustle and settle to raise kids. And more and more of these properties are being snapped up by this landlord. It makes me sick, honestly. I know a lot of people become landlords accidentally in later life due to remarrying etc and ending up with two houses between one couple, but this landlord sucking up 22 houses in such a small area disgusts me. I feel like I’m completely losing hope for the future of people my age and younger as house prices keep soaring and soaring.

AIBU?

And in my case, I own city centre properties which people don't want to live in as family homes long term. There are no gardens and too much traffic. My tenants want to be able to move for work, live with like minded people and move on after a couple of years.

Most city centres are like that now in british cities. The trend towards building new build out of town housing estates and retail parks, and making City Centre parking difficult and exiebsive means that families generally don't live in the centre any more.

The level of bitterness is quite astoning.

Why do you think posters like @Trisolaris doesn't agree with you? I could buy a BTL next week if I wanted but explained why I don't. What do you think people are bitter about?

@Yohoheaveho

It was their lifestyle that was causing the issue What, you mean washing clothes and needing to dry them? Should they change their lifestyle so that they don't need to wash and dry their clothes?

Or not dry clothes on a radiator in an unventilated room and then be surprised when there is mould?

@MsPeachh It has got to be the absolute lowest form of “business” I've ever heard of though: take on a bunch of loans and have your tenants pay them off for you. Very noble 😂 hit the nail on the head. The only difference between landlords and tenants is access to credit (BTL) and/or capital. It's not their superior business acumen.

probably because that is where the Tory backers have invested their money
Ain't that the truth🙄

@GreenlandTheMovie my father is what they would call a professional landlord (though not in the Uk). He used to be an engineer but quit his job and started a limited company with a partner to develop office buildings. Has done it for the past 25 years. He doesn't pay an agent to manage his properties, he does it himself and its a FT job (though of course much more relaxed than a regular job, I am not denying that). He is therefore at his tenants' beck and call cos he has the time to do so. He doesn't have any employees, its just him really as his business partner is mostly retired now.

I don't think its healthy to encourage people to become landlords just because they have an additionall 200k they want to invest, it should be a job and vocation like any other.

It often comes as a shock to people when they buy a house just how much money and time is needed for repairs when things go wrong

Including, IME, some who blew a gale about the importance of keeping social housing available, then pocketed the discounts and bought as soon as it came in

You should have heard the outrage round here when the LA installed new kitchens in their properties and those who'd bought didn't get them; they were even offered at another discount while the work was being done in the area, but no - they were expected for free

[quote Mybobowler]**@MsPeachh* It has got to be the absolute lowest form of “business” I've ever heard of though: take on a bunch of loans and have your tenants pay them off for you. Very noble 😂* hit the nail on the head. The only difference between landlords and tenants is access to credit (BTL) and/or capital. It's not their superior business acumen.[/quote]
Exactly. It’s not a business that drives growth or innovation, is it? Your tenants go to work for those businesses all day (my work is screening for covid treatments currently!) and then hand over the cash they received in exchange for that labour to these people who have the nerve to call themselves “businessmen”.

If it wasn't for landlords then where would you live ? If you can't afford to buy then you have to rent.

@rsababe

If it wasn't for landlords then where would you live ? If you can't afford to buy then you have to rent.

Landlords are part of the reason that many people can't afford to buy Landlords do not create housing they merely purloin it and thereby push up the prices so that others cannot afford to own their own home

Landlords are rent seekers, this is destructive economic activity it adds no value, it just drains money out of the rest of the economy.
Yes we need a rental sector but not one that eats the whole of the housing market and leaves everyone worse off except for the landlord's

I think there is no way to convince either side they are right. Most countries allow people to let property to others. People like my daughter who is a tenant and also lets out a property are not wicked. Circumstances just mean mostly due to excessive stamp duty but also job changes people cannot always sell and then buy. Most UK landlords have one property. Many landlords with mortgages are selling up as they are now taxed on profits they don't make.

"Purloin" means steal. Landlords do not commit theft in buying a property.

The provide homes for many people who cannot afford or simply do not want to buy. Every single tenant I think our family has ever had has been a young professional or young couple not yet ready to buy who likes a change , moves around due to work or relationships break ups. However this is SE and London so a different market I think from badly off families who do not pass credit checks even just to rent in some cases some of whom end up with bad landlords.

*You’ve touched on this a couple of times but I’m not quite sure what you mean. How are you expected to act like a social landlord?

By being expected to be understanding when rent is paid late or not at all, y not ever evicting tenants, even with good reasons because it leaves a family without a home and shouldn't expect to make a profit from the business because it's profiting from the vulnerable.

Lovely in winter. A great example of how tenants can save up for a deposit while having to have the heating on 24/7 which would go straight out the windows!hmm
And this is exactly why some tenants get a bad name. As an owner, I too keep many windows open throughout the day and accept that it might cost a but more to heAt. It's not specific to tenants but because tenants see it as not their house, they don't care to look after the house if it means playing more. Then they complain and expect the LL to fix issues of their own doing.

As said, new tenants for 4 years and not an inch of mould. They clearly take steps to prevent it even if it comes at a bit extra cost for their benefit.

Exactly. It’s not a business that drives growth or innovation, is it? Your tenants go to work for those businesses all day (my work is screening for covid treatments currently!) and then hand over the cash they received in exchange for that labour to these people who have the nerve to call themselves “businessmen
Of which, in my case, 40% goes back to the government purse rather than mine just like any other job.

If you don't want it to call it a business, agree that it shouldn't be taxed. You can't have it both ways.

@dontdisturbmenow

*You’ve touched on this a couple of times but I’m not quite sure what you mean. How are you expected to act like a social landlord?

By being expected to be understanding when rent is paid late or not at all, y not ever evicting tenants, even with good reasons because it leaves a family without a home and shouldn't expect to make a profit from the business because it's profiting from the vulnerable.

Lovely in winter. A great example of how tenants can save up for a deposit while having to have the heating on 24/7 which would go straight out the windows!hmm
And this is exactly why some tenants get a bad name. As an owner, I too keep many windows open throughout the day and accept that it might cost a but more to heAt. It's not specific to tenants but because tenants see it as not their house, they don't care to look after the house if it means playing more. Then they complain and expect the LL to fix issues of their own doing.

As said, new tenants for 4 years and not an inch of mould. They clearly take steps to prevent it even if it comes at a bit extra cost for their benefit.

Ah yes, make the tenants pay increased heating bills for years as opposed to investing anything in the property to improve the EPC past an F rating.

By the way - we left that property mould free. The dehumidifiers work and are a much cheaper solution.

Of course it's not the landlord's fault if the tenants are causing condensation mould. Everyone needs to dry their washing so you hang it out, buy a tumble drier, a covered heated airer or ventilate the room where you're drying. If tenants do none of those things, then the mould is their fault.

By being expected to be understanding when rent is paid late or not at all, y not ever evicting tenants, even with good reasons because it leaves a family without a home and shouldn't expect to make a profit from the business because it's profiting from the vulnerable.

That may be what you’re experiencing in your personal life but its not something that has been suggested on this thread at all and certainly isn’t what I (a tenant) expect from my LL. I have a contract, I know what’s expected of me and what is expected of my LL. As such I have never paid rent late, and at times it has been extremely tough going but rent gets paid first above everything in this house. Eviction has never been an issue for me, because I’ve never given a reason to be evicted. I don’t care if my LL makes a profit, I care about them meeting their responsibilities to me as per our contract. Other than that their money is their business. Maybe you need to be more thorough when letting your properties and ensure your clients understand the boundaries of the contract.

Ah yes, make the tenants pay increased heating bills for years as opposed to investing anything in the property to improve the EPC past an F rating
Or how about doing what everyone has to do to live in a mould and damp free properties.

All properties of that era in that area are at risk of damp due to its location. Everyone takes measures to avoid them. If everyone else, including myself when I lived there, managed to avoid it, why should I pay extra because that family doesn't want to do.lije everyone else. If they don't li it, they are free to rent a brand new house with a top EPC, but of course, they don't want to pay the extra £100 a month these houses go for.

By the way - we left that property mould free. The dehumidifiers work and are a much cheaper solution
Perfect solution. My tenant wanted me to fix the wall instead because he refused to accept they were causing the problem!

That may be what you’re experiencing in your personal life but its not something that has been suggested on this thread at all and certainly isn’t what I (a tenant) expect from my LL
You clearly haven't read the many threads on this matter. This is exactly what is being said.

Even here, posters hating landlords can't seem to agree whether landlords should be treating their rental property as a business or not!

I’ve always used a dehumidifier for drying my laundry. I think people don’t think of them as a laundry appliance because you don’t put the laundry in them or hang it on them but really it’s the best thing for drying inside.

You clearly haven't read the many threads on this matter. This is exactly what is being said.

Actually I have read load of LL/tenant threads on here and that absolutely isn’t what is being said. You’re lying.

@dontdisturbmenow

Exactly. It’s not a business that drives growth or innovation, is it? Your tenants go to work for those businesses all day (my work is screening for covid treatments currently!) and then hand over the cash they received in exchange for that labour to these people who have the nerve to call themselves “businessmen Of which, in my case, 40% goes back to the government purse rather than mine just like any other job.

If you don't want it to call it a business, agree that it shouldn't be taxed. You can't have it both ways.

Tax is paid on lots of things that aren’t businesses, too.

Actually I have read load of LL/tenant threads on here and that absolutely isn’t what is being said. You’re lying
Ok then

So are we agreeing? Is being a landlord running a business? Or should we, as OP believes be ashamed to call ourselves businessman (or woman I assume!).

Business, not business? ....

I have a few friends who are in the position that they can easily make their monthly rental payments, and a mortgage would have lower monthly payments, but they struggle to save for the deposit so at the moment, have no choice but to rent.

It is a shame, and I do feel for them.

But, I don't like the phrase 'lining the pockets' of landlords... some inherit a house, others work their arses off to buy a place to rent etc etc... they often still have a mortgage to pay and yes, will potentially charge a higher rate, but I imagine this is to cover boiler breakdowns etc...