To think rent is so bloody unfair

[Tar19891]

My rent is 800 per month. A mortgage on the same value flat would be 450 per month. Not in London obviously. It’s not fair is it?

Plus I’ve seen landlords trying it on all the time with their ‘costs’. A friend of mine recently had a landlord asking them to replace a supposedly worn out carpet when they moved out. The landlord said they’d only fitted it ‘3 years before you had move in, and the next tenant should get a new one.’

They were going to pay for it! But I told them to write back ‘I believe that would be classed as betterment, no?’

The landlord sheepishly backed down and gave back the full deposit.

@turbonerd

Haven’t read the full thread, there’s always loads of ‘why don’t you buy instead’ and how expensive everything is for landlords. Tosh!

I Thank my lucky stars I no longer live in the UK. Extortionate rents for unbelievably crappy ‘homes’.
When you rent and your landlord wants the house back you are out on your arse. Because it is NOT your home. It is a dwelling you are granted a temporary stay in.
It is atrocious that basics like a roof over your head, warmth and food are in such short supply in a supposedly 1 world country.
When I uttered my opinion I was told to go back home where I came from; the minute I could I very happily did!
Scandinavia is not perfect, but compared to the UK it is heaven.

It is down to politics. Social democracy is sadly waning here too, and I do anticipate a UK-state of affairs here too in 50 years time if we don’t turn the tide politically.

It's very sad to think of all the good that has been achieved by Scandinavian social democratic govts could end up going down the shitter.

I've always envied the way things work in some Scandi countries, and wished we could follow that model here, but money talks in the UK, and in the right ears. How sad to think the low-tax, devil take the hindmost and fuck anyone poor or vulnerable brigade might end up going the way of the UK.

My son experienced that too @SwanBuster. After living in a property for 18 months, when he left one of those cheap plastic blinds was broken. The agent wanted to deduct £97 to replace it. Between the wear and tear argument and making the agent get three quotes, the cost magically came down to £32.

@SwanBuster

Plus I’ve seen landlords trying it on all the time with their ‘costs’. A friend of mine recently had a landlord asking them to replace a supposedly worn out carpet when they moved out. The landlord said they’d only fitted it ‘3 years before you had move in, and the next tenant should get a new one.’

They were going to pay for it! But I told them to write back ‘I believe that would be classed as betterment, no?’

The landlord sheepishly backed down and gave back the full deposit.

Haha, very much outsmarted them! Landlords can be fairly neanderthal, never actually know what they're doing

I don't expect certain people to understand. If you pen your own home and life's all rosy, you're not going to get it
And what you're not getting is that it's not the landlord's fault they have to put their rent up to cover their costs and that it certainly isn't their responsibility to make their tenants better off whilst it cost them to do so.

I currently break even before I pay the capital repayment. I could raise the rent and earn a bit more to repay the loan quicker. Or I could lower it so my tenants are better off but it would cost me out of my 50h job to do so.

So yes, they pay more than if they owned the house, but the main beneficiary is the government, not me!

People are full of shit, if you could afford a second property, you would do it too. Anyone who says they wouldn’t is a liar

What has made you think like this? Many people can afford it but aren't interested for a number of reasons

@berksandbeyond

People are full of shit, if you could afford a second property, you would do it too. Anyone who says they wouldn’t is a liar

Er, no I wouldn't. I'd build a healthy pension instead. In fact, if I was rich enough, I wouldn't even have my own property, I'd live in hotels.

@Phoebesgift

We rent in suburban London. Husband's secure job is here, as is his close family. He grew up in London. Between us both working and earning around £50,000 between us we are struggling, always in overdrafts, credit cards. Too old, unable to save and will never own our own place. Rent is £1600 pcm. It's shit.

Me too. It's absolute shit. We should all be able to live in London, one of the most expensive capitals in the world to live.

Of course some of us choose to move to a less expensive area to enable purchasing a property . . .

And yes, there will be tales of greedy landlords who will try to claim ridiculous amount when moving out. Similarly, there are tenants who will leave the house in a state and whatever landlords can get back doesn't come anywhere close to put it back to where it should have been after depreciation.

It cost me over £7k after my last tenants left. They redecorated all that had been professionally painted when they moved in 2 tears earlier in such a bad way, cheap paint, dark paint all over the ceiling and fireplace, doors ruined by their dogs, garden ruined, shed destroyed, window handles broken to only name a few.

@ImOnTheRoadAgain, wow, that sounds incredible. It seems like if one can actually get a council property, they’re well looked after. Low rent (or no rent for some I hear), repairs done etc, but then people are so incredibly ungrateful in the UK. Benefits, housing etc, often for free.

I have lived in a mixture of high-priced rental accommodation (of which I have not received a penny to pay towards from benefits or anything like that) and long-term house sitting jobs, which have been a godsend as no rent but can be kicked out at any point (and I indeed this has happened!).

And @Nothappyatwork, of course I have a help to buy isa- anyone with half a brain (who’s saving to buy something, somewhere to live in), would have one, surely?

Reading this reminds me why so many of my contemporaries (renters that work full time), hate landlords so much. I don’t quite feel the same way, but it is’natural to feel resentment towards those that are kinda keeping some off the property ladder.

Which do you think is the bigger taxation target?

The few people with substantial self invested pension pots or the millions of buy to let landlords of and when there is a change in attitude towards taxation of private wealth?

I actually think sone form of wealth tax is coming or higher levies on additional home ownership. The govs will defo be targeting the easy pickings though which will be your average BTL investor.

A quick rightmove search has just shown the cheapest four bed to rent in my whole county is £1300. My mortgage on a four bed is £650. I am certainly not making paying £650 a month for insurance and maintenance. The renting system is desperately unfair.

if I was rich enough, I wouldn't even have my own property, I'd live in hotels.

This would be the dream!!

Apologies for typos

I agree with you, I'm about to purchase a 2 bed flat for £420k in south london, we do have quite a big deposit and our mortgage is going to be £1,080 per month. We currently rent a 1 bed flat a few streets away for £1,650 a month

@Comedycook

If you think it's so unfair, buy instead

HAHAHAHA. Unbelievable ignorance

Landlords can be fairly neanderthal, never actually know what they're doing
Yet to read this thread, all the poor accidental landlords who fell into it and somehow can’t escape the landlording trap are well-versed in the law and doing it because they’re benevolent, generous, offering a public service, dedicated to their tenants, scraping by, going above and beyond the law, just doing it for the meagre pension that they couldn’t possibly get elsewhere, have no other option but to landlord, etc etc.

@Rrrob

Accidental landlord here. We pay the service charge, tax, estate agent monthly fees and insurance. After all of this we make almost no profit.

But you're accruing equity. You're not losing money in the long term to anywhere near the extent that someone trapped in the rent cycle (high rent = can't afford to save deposit = continue paying high rent) is.

I understand this is an issue people on both sides get defensive about but it's a bit disingenuous of home owners to say they aren't making any profit when they are accruing equity as they are paying off the mortgage.

@okayigetit
Not really. My whole point is you can't afford it. Ok the mortgage is less but that's not just what you need. You need a deposit. So the op is moaning it would be cheaper to own but it isn't...if it was, they'd be able to buy.

@AStar98

Get a grip.

If renting was fair we'd all be renting.

Life isn't fair!!

The OP literally said 'it's not fair is it' .. clearly they know life isn't fair

The other day I was looking on rightmove as one of my sons is hoping to buy a flat later this year. There is a quite a number of flats either one bed or 2 that have been on there for months as they are trying to sell with tenants in situ so it looks like a number of landlords are trying to get out of the rental market but where I am no one wants to buy them. I bet once the tenants lease is up they will be given notice so that the property can be sold as vacant and god only knows where they will get another flat as we have none available here with anything going on the market being snapped up overnight.

Most people including myself are in fact renting off the bank actually but there we go.

[quote Comedycook]@okayigetit
Not really. My whole point is you can't afford it. Ok the mortgage is less but that's not just what you need. You need a deposit. So the op is moaning it would be cheaper to own but it isn't...if it was, they'd be able to buy.[/quote]
You’ve read this thread and still come out with this shit? After unfair affordability criteria have been explained several times? Jesus wept.

@Nothappyatwork

Most people including myself are in fact renting off the bank actually but there we go.

No you’re not because the amount you owe goes down with every repayment and one day you won’t owe anything. Rent is endless with nothing to show for it.

I get what you are saying op you are not stupid. There is no need to patronise no doubt from those that have been able to get on the property ladder

I look to my flat as a savings account as I will get something back form it and better than any interest in a bank account it’s two bed so I can downsize or move out of London when ds is older. I will get something from it (maybe not as much as I once hoped but something at least)

I feel lucky because on my wage now I couldn’t possibly buy in London but in 2003 I could (just they were far more relaxed who they gave about mortgages then)