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?

@Xenia interesting. So if the government does nothing to improve the situation, we may as well stick two fingers up at them, spend the deposit money on a luxury cruise and let them pay our rents? Seems a good idea actually

YABU. I’m a landlord but an accidental one. I had just bought a maisonette in London early 2000’s then promptly lost my job and couldn’t get another so moved away from Uk. Had no option but to rent it out as otherwise would have lost so much money having just bought it on a 100% mortgage as I didn’t have the deposit.

It was only ever meant to be for 18 months or so but ended up staying where I am and has been rented ever since.

Yes it’s gone up in value and yes someone else has effectively been paying my mortgage off but I’ve had no end of stress with it - shitty tenants causing damage, rogue letting agents running off with funds, tenants thinking they can just move out with no notice, sub-letting, not to mention the costly repairs all the time - new boilers, washing machines, roof repairs, windows going, electrics going - the list goes on. Plus the government changing all the tax rules so I barely make anything on it and it just gives me sleepless nights. So much so that I now want to sell. Except I can’t because due to covid I have to give my tenant 6 months notice despite the joint tenant having moved out last month on 2 weeks notice and thinking this is acceptable even though lease says 2 months. Want the other joint tenant to go now but they won’t so I have to wait a whole 6 months not knowing if they can even pay the rent on their own. All this whilst I’m on unpaid maternity leave and we are trying to buy a new house where we live.

It ain’t no picnic

Mspeachh 22 properties, assuming he was a good landlord isn't necessarily bad. You would hope with a business of that size he would have the contractors and the funds to be able to make good quality repairs with proper tradesman very quickly.

In theory it should work better than an accidental landlord scenario where their budget is very tight and they've no choice but to do things themselves and/or too cheaply.

We had a very similar situation in how we ended with our property.
Im sorry you are in such a tough situation it's so incredibly stressful.
I hope you get it sorted soon.
I'm not sure where all these perfect tenants are who are writing on these threads but I've never had one in our property!

@burntpinky with the greatest of respect, you have still acquired a very valuable asset in the ~20 years that you've owned it.

@burntpinky which, as you said, you bought with no deposit.

*But maybe your tenants don't moan because renting works for them. Just because someone rents it doesn't mean they can't afford a lavish lifestyle. There is a weird attitude amongst some people that if you can afford it you should always buy & only "poor" people rent. Lots of wealthy people rent because it's often the better option for them"
Absolutely and thus my point. It's highly likely that the arrangement suits us both. They are happy with the house and happy with me as a landlord. I don't I tend to sell do they are welcome to stay as long as it suits them.

So if the government does nothing to improve the situation, we may as well stick two fingers up at them, spend the deposit money on a luxury cruise and let them pay our rents? Seems a good idea actually
Which is exactly what some people are doing. You'll be a home owner in a few years, like many people. Some won't because they don't care to be. Some won't because of the choices they made and didn't make it a priority, and some won't because they had misfortunes in their lives.

The latter loses out through no fault of theirs, but it doesn't mean that everyone else, which is the majority, should have it easy to become a home owner just because they believe everyone should be entitled to it.

Burntpinky that was for you btw

@dontdisturbmenow

So if the government does nothing to improve the situation, we may as well stick two fingers up at them, spend the deposit money on a luxury cruise and let them pay our rents? Seems a good idea actually Which is exactly what some people are doing. You'll be a home owner in a few years, like many people. Some won't because they don't care to be. Some won't because of the choices they made and didn't make it a priority, and some won't because they had misfortunes in their lives.

The latter loses out through no fault of theirs, but it doesn't mean that everyone else, which is the majority, should have it easy to become a home owner just because they believe everyone should be entitled to it.

Here I am saying I am working full-time, saving hard and I want to buy. How is that “entitled?” The people who spout this nonsense usually moan about “feckless benefits cheats feeling ‘entitled’ to a council house” too. Everyone is “entitled” to housing, it is a human right. Not an investment vehicle.

@dontdisturbmenow you could use the same argument for the nhs too. why should everyone be entitled to free healthcare that costs a bomb to provide. In other countries, people pay thousands for the privilege.We do it in the UK because we believe healthcare is a human right, not something reserved for the population who can afford health insurance. Even in the US, i have learnt that the majority do have health insurance but a sizeable minority don't (however there is a lot of anger about that minority).

I dont get why people in the uk understand this about healthcare, but not about stable secure affordable housing.

The latter loses out through no fault of theirs, but it doesn't mean that everyone else, which is the majority, should have it easy to become a home owner just because they believe everyone should be entitled to it.

Has one person on this thread said they should have it easy?

Why is it entitled to want housing? I don't understand.

you could use the same argument for the nhs too.

Exactly, private healthcare is not a problem for me or my family. However I absolutely believe in free healthcare for all.

@itsadress my american relatives think its entitled to want free healthcare provided by the state. Doctors and nurses don't work for free, its your own fault if you can't pay your own health insurance. Save up and pay your own Meanwhile in the uk, the nhs is practically the state religion.
Tbh what some people are saying on this thread about housing isn't that different to what some americans say about healthcare. Both are basic needs.

@Ilovechocolatetoomuch thank you

@Mybobowler yes but I’m saying that despite that it’s not a picnic. I’ve had my property damaged and had to put it right and yes I can deduct expenses like that against tax but I’ve still been out of pocket on it income wise. Ok so capital has increased but government poised to pounce further on that I’m sure. In addition, what I’m saying is that it’s not like I’m someone running it as a business. It was my home and I was forced to move away being unable to get a job. I then had to let it at a huge loss for years as interest rates were something like 8% when I was on the 100% mortgage and it was rented to an ex as I had to also leave my cats behind and so he rented it from me, I think at around half the cost of the actual mortgage, for a number of years. Then there was all the shenanigans with tenants after he had to move on. So whilst I may have a cash sum after I’ve sold it, it has been, quite frankly, a bloody nightmare.

I’m just truing to make the point that not all landlords are bad or out purely to make money. I was trying to prevent a financial disaster when I became an accidental landlord and keep my own head above water after several months of unemployment and huge debts!!

@hopingforonlychild

I think that is interesting, but I think the difference is that we do get the NHS for free but we have little choices about our care. I think in the US for instance; they're more picky about which Dr they will see, which hospital they go to whereas we just go with the system more.

When you apply that sort of thing to housing, you'd have to accept that your house would be warm and safe but it might not be in your preferred choice of area, you might not like the type of house, you wouldn't be able to make any changes to it etc. I think for me, home ownership is about being able to have the freedom to make my house suit my family and save for renovations etc.

@itsadress I was just about to say the same thing. "You want a comfortable, safe home to live in? You want a PET? YOU WANT TO PUT UP A SHELF?". Staggering, really, what some people feel entitled to

I really don't want to believe that many landlords behave like greedy overlords, sneering at the profligate proles whose homes they own, but sadly this thread hasnt done much to dispel me of that impression.

The American attitude baffles me although I bet if the NHS didn't exist here people wouldn't vote for it to be created.

When you apply that sort of thing to housing, you'd have to accept that your house would be warm and safe but it might not be in your preferred choice of area, you might not like the type of house, you wouldn't be able to make any changes to it etc

I don't know anyone who rents or owns who hasn't comprised on something re their housing whether it's location, size, style, etc. I think the vast majority are aware compromise is normal.

I bought my first home in my mid twenties when a young single woman seeking a mortgage still raised eyebrows. I am so grateful that I had that opportunity as owning my own property gave me options and enabled me to get out of an abusive relationship and keep a roof over my dc's head. So many people have to suffer because of not being able to put enough funds together to start renting or to put a deposit down. I really worry how generation rent will be able to cope in retirement when it is so difficult to save money whilst paying rent. Plus the added problem of not inheriting property from parents due to the cost of care home fees.

When you apply that sort of thing to housing, you'd have to accept that your house would be warm and safe

As a start this would be great to aim for though.

@itsadress well of course everyone compromises, but you usually have a level of choice, and you get the best you can afford, or at least aim to get the money to get something better next time.

In National Housing Service you'd be more likely to just be allocated a house because it meets your family needs on paper, never mind whether you actually like it.

Here I am saying I am working full-time, saving hard and I want to buy. How is that “entitled?”
And you said that you will be able to become a home owner in some years so make up your mind. Either you'll get thereof you never will.

you could use the same argument for the nhs too
You mean a public service? So we are back to landlords bro g seen as providing a public service. Wait a minute, I was accused of lying when I said that was how some people viewed landlords!

Why is it entitled to want housing? I don't understand
Where did I mention housing? I referred to home ownership, that's not housing.

I really don't want to believe that many landlords behave like greedy overlords, sneering at the profligate proles whose homes they own, but sadly this thread hasnt done much to dispel me of that impression
Based on what? I haven't raised the rent in the last 4 years despite a market increase. I have performed all repairs requested in a very short time. I make about £50 profit among from it. You call that greed?

My friends landlord is brilliant and my son was so lucky with his student digs one, but I know it's rare and anyone gloating to their tenants about ' this is paying for my mortgage or retirement fund' is a bit of a wanker really ( even if it's true ) rubbing people's noses in it isn't nice.
I agree that the repairs aspect is the one silver lining as long as they upkeep their side of the bargain. Many probably don't bother or get their mates to bodge it.
It has to work well on both sides.
I've rented before and it wasn't too bad , even though it's not nice not being able to decorate it yourself etc.
there are upsides. My parents and inlaws both rented from the council all their lives.
Worked for them.