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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

to think the new rules on no fault eviction - means people won't want to be landlords?

267 replies

DragonMama3 · 22/12/2023 19:31

What do you think?

OP posts:
ForTheLoveOfSleep · 22/12/2023 19:57

You shouldnt be able to rent out mortgaged properties at profit. Rent should be charged at mortgage plus 10/20% for upkeep maximum. BTL mortgages should be banned.
This would substantially decrease massive rents. You want a property but don't want to have to pay the mortgage fine. But an outright owned property at the end is your profit not the extra £££s you throw on per month out of greed.

drowninginsick · 22/12/2023 19:58

Unexpectedlysinglemum · 22/12/2023 19:49

@drowninginsick you sound lovely (your username doesn't though!) 😄

Haha I don't think I'm lovley it should be the standard but sadly I do think the ones who will be driven out are decent people and the tyrants will remain!

My 2 year old was ill and I posted in absolute desperation one night Grin thankfully we've had far less
Sick for a few weeks 🤞🏼

Original poster
DragonMama3 · 22/12/2023 19:58

ForTheLoveOfSleep · 22/12/2023 19:57

You shouldnt be able to rent out mortgaged properties at profit. Rent should be charged at mortgage plus 10/20% for upkeep maximum. BTL mortgages should be banned.
This would substantially decrease massive rents. You want a property but don't want to have to pay the mortgage fine. But an outright owned property at the end is your profit not the extra £££s you throw on per month out of greed.

that was funny...

OP posts:
Eekmystro · 22/12/2023 20:00

Beezknees · 22/12/2023 19:55

I get why private landlords exist. But people really need to stop tripping over themselves to say they're "providing a service." NO landlord is a landlord out of the goodness of their heart. They are in it to make money from people who can't afford to buy homes, plain and simple. I wish they would just admit that!

This.
I don’t hate landlords and I would absolutely buy a house to rent out if I could afford it as an investment. Let not pretend that it is for anything but profit though, and why should I care if someone making thousands a month from rental properties isn’t finding it as easy to make money as they were before?

drowninginsick · 22/12/2023 20:01

ForTheLoveOfSleep · 22/12/2023 19:57

You shouldnt be able to rent out mortgaged properties at profit. Rent should be charged at mortgage plus 10/20% for upkeep maximum. BTL mortgages should be banned.
This would substantially decrease massive rents. You want a property but don't want to have to pay the mortgage fine. But an outright owned property at the end is your profit not the extra £££s you throw on per month out of greed.

This is how I've always seen it. The 'profit' is a house at the end that's increased in value and has a smaller mortgage owed on it!

brainworms · 22/12/2023 20:01

NeonSoda · 22/12/2023 19:35

Where should people live if they don’t want to buy a property?

Show quote history

LOL

People DO want to buy homes for security and the like. They can't DO that if landlords are buying up property for exploitation, and it's hard to get on the property ladder if you don't have a rich mum and dad to give you a deposit.

Beezknees · 22/12/2023 20:02

Eekmystro · 22/12/2023 20:00

This.
I don’t hate landlords and I would absolutely buy a house to rent out if I could afford it as an investment. Let not pretend that it is for anything but profit though, and why should I care if someone making thousands a month from rental properties isn’t finding it as easy to make money as they were before?

Show quote history

Exactly.

All this faux hand wringing about "it will mean less properties available for renters" as if they're bothered! You're pissed off about losing money, just fecking admit it.

Babyroobs · 22/12/2023 20:02

brainworms · 22/12/2023 19:32

Landlords are parasites.

Agree totally.

Kannet111 · 22/12/2023 20:02

@brainworms every landlord i know has a job. They have been using buy to let to build up a pension. They aren't evil people!

And even those who are just running a property business why is it any difference than running any other business. Food should be for everyone, evil supermarkets charging for it. Evil farmers charging for growing it! Where does it end!

PuttingDownRoots · 22/12/2023 20:02

ForTheLoveOfSleep · 22/12/2023 19:57

You shouldnt be able to rent out mortgaged properties at profit. Rent should be charged at mortgage plus 10/20% for upkeep maximum. BTL mortgages should be banned.
This would substantially decrease massive rents. You want a property but don't want to have to pay the mortgage fine. But an outright owned property at the end is your profit not the extra £££s you throw on per month out of greed.

It works the other way... you can only have a repayment thats 80% of the market rate of the property.

Or do you think a landlord should be able to increase the rent so they can repay their mortgage faster?

Rental market does need more oversight. But their are bad landlords, bad tenants and bad legislation (such as needing to be actually evicted to count as homeless for access to social housing). Good landlords need to be encouraged.

SomeCatFromJapan · 22/12/2023 20:04

They've got rid of no-fault evictions in Scotland and capped rents. There is now an absolute crises in the private rental sector, very little available and prices through the roof.

It has also not translated to lower house prices.

ForTheLoveOfSleep · 22/12/2023 20:04

DragonMama3 · 22/12/2023 19:58

that was funny...

Show quote history

Care to elaborate?

LordSnot · 22/12/2023 20:05

Grumpystripes · 22/12/2023 19:57

Hasn't it been a problem in some areas of Scotland? My friend's DD is at university in Glasgow and has found it incredibly hard to get accommodation.

Show quote history

There are three universities in Glasgow. That's why it's so tough, not because of one law regarding rentals.

brainworms · 22/12/2023 20:05

NeonSoda · 22/12/2023 19:35

Where should people live if they don’t want to buy a property?

Show quote history

LOL

People DO want to buy homes for security and the like. They can't DO that if landlords are buying up property for exploitation, and it's hard to get on the property ladder if you don't have a rich mum and dad to give you a deposit.

Borth · 22/12/2023 20:06

brainworms · 22/12/2023 19:32

Landlords are parasites.

Eh? How will people who nee to rent be able to without them?

NeonSoda · 22/12/2023 20:07

Unexpectedlysinglemum · 22/12/2023 19:48

Or people will let flats sit empty. I've let my flat sit empty for a few months while I have a newborn and stay with family as I couldn't bear the hassle of being a landlord

Show quote history

I was a reluctant landlord 15 years ago: my ex had bought a bedsit and it had quickly fallen into negative equity.

We decided to rent it out so we could rent a larger flat together.

After 14 months we would have literally been better off just leaving it empty and paying the mortgage and bills. We were losing every month anyway because it wasn’t an interest only mortgage, and then the tenant stopped paying.

brainworms · 22/12/2023 20:07

Kannet111 · 22/12/2023 20:02

@brainworms every landlord i know has a job. They have been using buy to let to build up a pension. They aren't evil people!

And even those who are just running a property business why is it any difference than running any other business. Food should be for everyone, evil supermarkets charging for it. Evil farmers charging for growing it! Where does it end!

Yawn.

Landlords are still parasites.

Beezknees · 22/12/2023 20:08

NeonSoda · 22/12/2023 20:07

I was a reluctant landlord 15 years ago: my ex had bought a bedsit and it had quickly fallen into negative equity.

We decided to rent it out so we could rent a larger flat together.

After 14 months we would have literally been better off just leaving it empty and paying the mortgage and bills. We were losing every month anyway because it wasn’t an interest only mortgage, and then the tenant stopped paying.

Show quote history

That's a risk you take when you buy a property though to be fair.

NeonSoda · 22/12/2023 20:10

Beezknees · 22/12/2023 20:08

That's a risk you take when you buy a property though to be fair.

Show quote history

Yeah for sure.

I was just agreeing that people will leave properties empty instead of renting them.

brainworms · 22/12/2023 20:12

girlfriend44 · 22/12/2023 19:36

Landlords provide a service there isn't enough social housing, so where would we be without them renting out.

I'm sure some people are grateful to their landlords for a roof over their heads.

More and more landlords are selling up due to stress,bad tenants and the fact the interest rates on money is good

Seen it loads lately. My landlord is selling where Can I live?

Show quote history

Landlords are always out for THEMSELVES, they are not doing ANYONE a service but themselves.

brainworms · 22/12/2023 20:14

@DragonMama3 they're parasites.

thefallen · 22/12/2023 20:16

"I'm sure the vast majority are just trying to make their way in the world" - perhaps they could get jobs instead of hoarding property.

Borth · 22/12/2023 20:17

brainworms · 22/12/2023 20:14

@DragonMama3 they're parasites.

You have a distorted view of landlords. I know several who offer a great service and are not parasites.

thefallen · 22/12/2023 20:17

The only thing worse is people with holiday homes, pricing locals out of the area and leaving the houses empty for months at a time. It should be banned.

CKL987 · 22/12/2023 20:17

Let's hope so.