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?

My work colleague bought her mum's council house years ago and she had to pay capital gains tax when they sold it and moved her mum closer to her. It wasn't something she had budgeted for initially but she has had the advantage of a big discount from the council plus the equity gains over the years , so it seems fair enough to have to pay this extra bill I suppose. It's all things people don't consider when they buy extra properties. Unless it's your primary home you will be taxed more. Landlords don't have it all their own way plus there is the worry of tenants not caring for the place too and leaving it a terrible way / wrecked.
It can be lucrative , but nothing comes without a trade off.

Socialism has become a dirty word in this country, for some reason.

My two sons can't afford a property on their own. They get a bit fed up about it but what can you do? Both of them work full time and save up but prices go up and up where we live. I do feel sorry for the young. I agree that socialism is a dirty word but there is always someone who says ' you could work harder! ' or ' stop spending it on take aways' which is ridiculous when it comes to house prices. Especially in the south east where we live.
Selling off the council homes was the worst thing they brought in in my opinion.

@Queenofthemadouse

This moan about evil landlords is just boring. Surely *@MsPeachh* as you are educated, that you understand that saving and cutting your cloth accordingly is the way to go?

You are in charge of your own destiny. You make the decisions about the qualifications you have and the jobs you hold down. This self pitying nonsense about everything being everyone else's fault Is exactly the reason why people don't get to where they want to be. Because in order to get there you have to have the ambition and drive and sense to make a plan and stick to it.

I'm in my mid 30s, no help from anyone here. I started at the bottom and bought a house as soon as I could because I knew that paying off the mortgage would help long term. It wasn't in the area I most wanted to be in. But rather than moaning about the high rent you're paying, why not turn that around and see how your landlord has made themselves a success. And think how you can get yourself on the ladder too.

Read the Rule of Wealth. It might make you see your situation in a different light

I’ve just checked out a summary online for free (cause I’m frugal and good with money ) and rule #43 is own, don’t rent. Great! I’m trying 🤣

I think it is unreasonable to expect to own a house without buying it. I think it's reasonable to say that everyone should be entitled to have somewhere to live but actual ownership is different.

Who has said give everyone free houses? I believe in social housing so people have a secure home without having to own. Do you not? I don't disagree that home ownership is not possible for everyone, it would never be 100% anyway however we don't currently have enough social housing or a good enough renting system so I don't think it's entitled to prefer to own your home in those circumstances.

I am working full-time, saving hard and I want to buy. How is that “entitled?”

It isn't ... for me it only becomes entitlement when others are expected to give up their own choices to provide what someone else wants

80% live in government flats
Haha, I can see that going down well in the UK! No garden for the children? That's not good enough.

I’m a landlord but an accidental one
Surely 'unplanned' landlord is the more apt phrase!
No-one 'accidentally' rents out a property, one has to take deliberate conscious steps...register with the proper authorities, find and vet tenants etc.
Rather, they find themselves in a situation where, out of the options before them, renting it out appears the most personally advantageous

We don't have a private pension and a state pension isn't going to keep us feed.

Why don't you have a private pension? I do, it's not difficult just involves some sacrifice.

@SuperbGorgonzola I don't think its unreasonable for us to expect the government to enable home ownership for 90% of the population or more. I mean, they were willing to throw billions at HTB which was mainly benefiting the property developers. Why not cut out the middleman and their cronies and actually build housing for the people. People still have to save up the deposit and get a mortgage, that is obviously still a requirement but which option would be more affordable?A house sold by a property developer who needs to keep shareholders happy or a house built by the government for egalitarian purposes.

I bought my flat from a landlord, he wanted to make a profit too! Which was why i also got gazumped by £8k but had to continue with it as i already paid for the survey fees and solicitor and really wanted the flat too.

@dontdisturbmenow the council houses outside london do have gardens so imagine would be the same here. Singapore is half the size of london so naturally can't expect gardens, its too hot anyway.

I grew up with a garden in singapore and we never used it.

Haha, I can see that going down well in the UK! No garden for the children? That's not good enough.

Plenty of people already don't have access to a garden. I think it's like 20% in London. Do you live in a bubble?

which is ridiculous when it comes to house prices. Especially in the south east where we live
How much do they earn. You can get a one bedroom for £100k in some areas of the SE. With help to buy, on £30k ish we've already identified that a single person should be able to save enough to buy in about 5 years.

Plenty of people already don't have access to a garden. I think it's like 20% in London. Do you live in a bubble?
And that's a long way from the 80% mentioned!

Again, if anyone can get a house with a small garden big enough for all the children, where is the incentive to earn much more?

itsadress i thought your post suggested that you though everyone should be entitled to own the place they live.

I said in my post that I think everyone should be entitled to somewhere to live. I do believe that there should be more social housing, and that prices in some parts of the country are absolutely appalling.

I disagree that home ownership for 90%. Rental, done properly has some advantages over owning a property that have been discussed; flexibility etc.

In areas such as mine, it works great. You can rent a two bed flat or small terrace for £450pcm. A single person on a decent wage, or a couple can afford to rent whilst also saving a deposit, and can buy a two bed for £80-100k or a three bed for £130- 150k.

@dontdisturbmenow

which is ridiculous when it comes to house prices. Especially in the south east where we live How much do they earn. You can get a one bedroom for £100k in some areas of the SE. With help to buy, on £30k ish we've already identified that a single person should be able to save enough to buy in about 5 years.

They are not big earners and haven't a partner. Even other ' cheaper ' areas are out of their budgets. Some of their friends bought ( one was left a house) but had to move miles away. Looked into it all but they can't move yet.

This is the average garden near me,

www.zoopla.co.uk/for-sale/details/56846984?search_identifier=dd2cff98b64b235a01180d710d0e9f0e

i thought your post suggested that you though everyone should be entitled to own the place they live.

I don't think I said that. I said I don't think think it's entitled to want to own your home particularly if you have shit alternatives. I've said multiple times renting is better for some & has a place.

@dontdisturbmenow then that is a great incentive. if you want a garden, work hard to be in the top 5%. a house with a garden costs about the equivalent £2-5 million in singapore. honestly its not that far off in my area of london, a house with garden costs about £1 million. Singapore has 5 million people in a country half the size of london, gardens for everyone was never going to be realistic. 30% of land is reclaimed from the sea and there isn't scope to reclaim more. London is different, it can grow and grow organically and even spill out into the Home Counties. Hence more space for gardens!

But the premise is that at least if you are in the top 90%, you can own your own place and not have to rent. This is realistic for most healthy people. if you want a big house, work for it and earn more so you can upgrade from the government housing (truthfully that is the aspiration of most singaporeans too, they want to live in condos with swimming pools and tennis courts, but sadly only 10% can achieve it due to market forces).

I think it is unreasonable to expect to own a house without buying it.

And yet LLs own houses without buying them.

My siblings are 'boomers ' and bought houses on very average wages in the 70s. They have lovely homes now.
They had to save up of course , but it seemed easier back then somehow and prices did go up a huge amount in a short time so they could keeping on moving up and on wards. They know how hard it is for today's young , but it's the inequality that must hurt the young the most here. They may never have any of these advantages at all. I'm not knocking 'boomers' here by the way , it's just how it is at the moment.

@SuperbGorgonzola we live in 2 different countries really. London has more similarities to singapore than your area. My flat which i bought last year cost me £400k. 3 bed terracd house is £1 million.

Why not cut out the middleman and their cronies and actually build housing for the people
because we have govt by the rich for the rich
it's not about serving the people, it's about serving the people up as cash cows for the middleman and their cronies to milk for profit

Again, if anyone can get a house with a small garden big enough for all the children, where is the incentive to earn much more?

Because it's human nature for some people to want more eg a bigger house or a bigger garden, more holidays. I don't see how it removes aspiration.

smallstep88 that's not true. They may inherit a house just like plenty of owner occupiers or they might run it as a business but of course they buy it. The tenant pays them a fee for the use of it.