To think that Landlords have a bad name.

[Arewe29]

NC for this.

Is it just me or are all landlords frowned upon a MN.

We own and rent out 3 properties all our properties are rented out to young families, just under market rate, we allow them to decorate their homes how they like, and if there is any issues or problems they just call us and we sort it out ASAP.

I know that there is some terrible landlords out there, that should be dealt with but there are thousands of other that are decent that follow all the laws and their tenants are very happy.

I’m glad we can.

I don't want to derail the thread - however this situation is soon to be relevant to me and I'm curious what the general consensus is.

Say I inherit a house (so I haven't gone out to buy a property specifically to make income) and choose to rent this inherited property out rather than selling it, am I wrong in doing so?

I won't have outbid anyone or set out to become a landlord, and in fact I'd much rather still have my parent living in the house - this is just the situation I find myself in

Why not sell it and invest the money elsewhere?

So who owns the rental properties?

Using homes as investments pushes the market upwards, making it harder for others to own their own home. How anyone can deny this is beyond me. It’s either pure stupidity or intentional blindness.

Absolutely no envy here. I own my home mortgage free with enough spare care to buy another home outright as an investment property if I wanted to. My monthly outgoings are nowhere near my monthly income. I have also been a landlord when I was much younger (accidentally as the market crashed and I couldn’t sell when I was moving abroad for work).

However, I am fundamentally opposed to “homes” being used for investment purposes. I cannot understand how people can kid themselves that they are being altruistic to be landlords, or that the buy to let popularisation hasn’t negatively impacted the housing market, at the detriment of those not yet on the market for whatever reason.

The vast majority of landlords do it to make money for their families with no regard for the impact that it has on those less fortunate. This is a fact in my opinion. I’m not saying this is something people shouldn’t do. We all have to live our lives doing what we feel is right. Just don’t deny it and try and argue what a good person you are for being a landlord. Tone deaf.

You'll never get sense out of the MN's anti landlord narrative on here !
Honestly dont bother trying to convince them 😂
I just tell my letting agent to ask "hi thanks for the enquiry, are you by any chance on Mumsnet"
" why yes I am "
.......click ..... phone goes dead
" hello hello, are you there Mr letting agent..."
😂🤣😂
They reap what the sew 😂

No, loosing your parents and inheriting a house is the situation you find yourself in.

Renting it out is the choice you made.

YANBU, it seems landlords are scum. Some are bad, but many are good.. and like a few PP have said, the good ones are not talked about at all.

I was in a minimum wage job, and could not afford to buy. I rented, and that was fine. Except my landlord was an arse because they never did any repairs. One of the radiators was rusted to the point all the water leaked out. This impacted the whole central heating system, so I had no central heating... for 2 years. I reported it so many times... people came out, promising repairs. It never happened. I also had a leaky roof in one room, and damp so bad in another, I had to throw clothing out in my wardrobe as it had seeped into it all. I had a pair of leather trousers that went mouldy.

But, we do need private landlords. Not everyone can buy, or neither do they want to. And if social housing was the only real renting option, then as a single adult, I would be forever confined to a bedsit/studio/1 bed place, when I have hobbies that need more room.

This kind of happened in my family. My grandad died, and the family home was left. Family lived in it for over 60 years. He always wanted it to stay in the family... but seeing as his children were in their 50s/60s when he died... none were in a position to move into it.

One sibling bought off of the rest, and now rents it out.

I believe the term is 'accidental landlord'.

Similar happened in my family, but they rented it out together so to speak. It wasn't accidental, it was an informed decision they made from the choices they had.
I get the distinction between buying specifically to let and inheriting a property where the best decision for the new owners is to rent it out - but it's still just that, a decision.

I've found that by using the term 'accidental', landlords minimise their responsibility, or the fact they're completely unaware of those responsibilities that come with it and justify that because they're an 'accidental' landlord, they never intended to be a landlord they're not 'professional' landlords and so they don't behave the way they should as a landlord.

But they still made the decision to be a landlord and therefore there's no excuse to not know and meet your responsibility.

I'm not saying your family did that btw, mine were a bit shocked when told by other family members including me, what they'd need to do in order to be a legal landlord, never mind a good one, and they did it until the tenant moved on and they decided against it again and sold instead.

So you discriminate against women, because most posters on here are women

How progressive

Ita impressive how funny you find that

Just to clarify I haven't actually made any choice yet - I am sort of in the interim, not sure what to do with it period.

I considered renting it out mainly because I am not 100% sure I want to let go of it forever - it is where I lived with my mum for many years. I could let it sit empty for a while I suppose, until I decide.

I just happened upon this thread, saw the general disdain for landlords and wondered where I would stand in terms of moral compass. I'm not blind to the housing crisis - in fact my mum passing away is the only way I will be able to afford a house myself in my late 20's. Thanks for the input!

Do what is right for you. The people on this thread would look after themselves in a heartbeat in your position, despite their disgust.

I’m a renter. I’ve just broken a lease here in Melbourne because the house we lived in has black mould, illegal window fittings and has no work done to it since the landlord bought it in 2001. There were termites and broken floorboards and cracks in the walls.
The effect of living there led me to have a relapse of severe depression and I lost my job, while I have a child to support on my own. So yes, it’s a mere business to some, but the impacts of this model are that it creates costs in other ways. The days I spent in hospital would have cost far more than fixing the broken floorboards and cracks.

You do what's right for you.
That's all that matters
Don't be rushed.
If you become a landlord make sure you comply with the laws and regulations

I think that's a really understandable way to feel, to want time to decide what to do. I think in that position it might be hard to see another family living in your mum's home and dealing with any problems etc rather than just having your memories.

I don't think the current system of BTL landlording works. It's bad for the housing market and it's bad for tenants and it's bad for people who want to own their own homes. I think a situation where we had professional larger landlords doing private rentals, with rent controls etc would be much better than the current situation. All those people currently in houses owned by the landlords on this thread would still be in those houses - they'd just have a different landlord and more security in their tenancy (because some of the landlords may not intend to sell but circumstances might force it).

When I sold my last house, I accepted an offer from someone who was a first time buyer over a higher offer from a BTL landlord. I wanted it to be owned by someone who lived in it rather than as an investment. There were limits to how much of a difference in offer I would have accepted but it was important to me. So for the people saying everyone else would do the same as them if they had the opportunity, I didn't.

I do think there are circumstances where it's reasonable to let out your house privately (if you are moving away temporarily, for example). In theory the large regulated landlord could do this for you as an agent.

I also think we have to live within the current systems. You can hate the grammar school system and campaign to change it, but if you live in an area where there is a grammar school system and that is the best option for your child, it's not hypocritical to send them there, because your options are limited.

Equally you can believe that the current system of lots of small private landlords is bad, but still think some of them are doing a good job.

Some posters seem to forget -or conveniently- ignore the fact that many landlords rented properties themselves before becoming landlords.

That was the case for me. Started renting at 20 and did so for 10 years. 5 properties. All 5 landlords were great and I never had any issues with any of them.

I don't what I would have done without them. I didn't live anywhere near family and had to increase my income and save before I could buy.

It never cross my mind once to resent these landlords. It just made me want even more to own my own place and do everything to be able to, 10 years later.

Many people have a home of their own because they are intelligent, educated, skilled and hard working. Many people are all of these things yet still cannot afford a home. A few people are none of these things. They have mediocre aptitude so will never make much money through employment or productive business. I can understand why people in this last group see becoming a landlord as their only option to give their children financial security.

Still going? We have made a decision to never sell our house to a landlord. I couldn't justify it. That may make sound a bit of a knob but so be it. If it has to go for less, then that's what will happen.

Thank you
I am building a business that will be passed onto my children. I have to work hard at it every single day to keep it going and when I pass it on to them they will no doubt continue our hard work.
I am happy in the knowledge that I am not using someone else's, labour to build something for my children and then just handing it to them.
So OP can goad all she wants about how her kids will have their own houses and mine will be paying for a LL's boat, but all she's really doing is showing what sort of person she is even more than she already had.

There's nothing inherently wrong with renting or being a landlord, the problem is buy to let landlordism which incentivizes and allows the landlord to exploit the tenant in order to maximise profit.
And if that weren't enough it has pushed up the price of housing so that fewer people are able to be homeowners under forced instead to increase the wealth of landlords- in other words it's a racket!
What we need is tighter regulation of landlords, for one thing if you are a landlord then you should own your asset outright, free and clear no mortgage.

Reap what they 'sew'? Lol. Looks like when we made that 'MN hates landlords' banner we were cross stitching our own demise.

Do you not wish for a life where it is easier to buy a home, or are you comfortable with the system as it works now?

Remember you only had to rent because you couldn't afford it. You couldn't afford it because of the existence of landlords affecting the prices.