Lots of Landlords are selling up!!

[PassingStranger]

Where is everyone going to live who can't afford to buy?

Alot of landlords are selling. Can't be bothered with all the hassle now.
People aren't paying rent and also trashing houses when they do and costing the owners lots of money to put things right.
On TikTok people are being told to trash houses. [Society gone downhill]

I know there are good tenants, but there are alot of bad ones. Family member works for estate agent and says there are more bad tenants than landlords.

You can trash a house and walk away. Nobody ever gets done for criminal damage on private rents.
There is no register of bad tenants legally allowed either. It's all left to the landlord to sort out at their expense.

Where is all the housing going to come from?
The government donthave enough.
People who are trashing houses and not paying rent are actually spoiling it for everyone..
Alot of lls are selling up now.

Council housing shouldn't just be for those on low incomes, it should be the majority of rental properties. Instead the profits are going into the hands of investors whose interests are simply to increase profit, not to provide adequate affordable housing.

When Thatcher came to power in 1979 the average council rent was £6.40 a week. To put that in context, I was getting £5 for doing a milk round on a Saturday. 3 years after, in 1981, that rent had more than doubled and was 9% of average earnings.

When Labour came to office in February 1974, rents were 7.9 per cent. of earnings, and that by the time they left office five years later that proportion had sunk to 6.3 per cent.

We have a capitalism crisis, not a housing crisis. There are easy solutions to our current situation, but vested interest prevents us addressing it.

No-one has to be a Landlord. If the small one-property landlords constantly encounter attitudes like this, then they will sell up and stop being landlords because it's not worth the hassle.

in an ideal world all tenants and landlords would be decent people and the accommodation would be decent and the tenants would treat it well.

Unfortunately there are a lot of bad tenants and bad landlords. So the decent landlords are deciding they can't be arsed with dealing with bad tenants and being tarred with the same brush as the bad landlords.

No one is better for it.

Tenants don’t need to worry.

Because all the voters who think that “ no one should make a profit from housing” are going to elect a political party who is willing to put up taxes by a large amount . That way, the public sector ( local authorities and housing associations ) can spend the billions required to build enough housing for 20% of the Uk households who currently rent from the private sector.

Then they can move onto providing electricity, gas, water and food, as no one should profit from providing these basics either.

Of course, no private rented sector will make it very hard to move for eg a job, as you will have to apply for a HA/ LA property in the area you want to move to. And your employer is unlikely to hold the position for you for the months that will take.

And it will be very hard for women to leave an unhappy marriage for the same reason - if their parents / family won’t take them in, they will have nowhere to go.

and the UK’s universities will probably close because they wouldn’t have any revenue from overseas students. The universities don’t have enough to provide a accommodation.

And the NHS will fall apart, because it’s dependent on the labour of overseas nationals , who won’t be able to take a job because they can’t get a house.

But none of that will matter, because all the evil bastard landlords wouldn’t be investing in property anymore . They will be investing in stocks and shares / whatever like everyone else. That will show them.

Do you realise that LL's provide people with jobs too? We employ plumbers, electricians, builders etc estate agents, cleaners...I could go on.

You think LL's are greedy for making a living out of their business? Your comments show your ignorance.

@SnugNightsss Lloyds

You could offer them a share in the properties, it's unusual but not unheard of?

Surely in the long run if owning buy to lets is less profitable, house prices will drop and more people will be able to afford their own homes?

obviously don’t agree with people disrespecting a rental.

I know of tenants a family who stopped paying rent money provided by the government landlord eventually evicted them through the courts. When they went in the tenant had taken a sledgehammer to the flat. Holes in all the walls, ripped off every door, left all the taps running flooding the property below. The council rehoused them

Another property working couple with a dog were evicted. They left behind an unholy mess plus an infestation of both bed bugs and fleas. Carpets destroyed, wood chewed. They were carers going into the homes of the elderly every day. Again the council rehoused them and their insect friends presumably.

I don't know how people can live like this and expect to be rehoused.

My friend works in social housing she's stripped off in the back porch dumping clothing and heading for the shower on many an occasion.

@Dollydaydream100

"Yes, if you use your reading skills (?) you'll see that I made several points about the reasons for lack of housing - not just immigration.
Try harder."

I'm afraid I failed to read all your whiny posts from further upthread - only saw your whiny post about immigrants.

How many houses do you own? You seem seriously aggrieved about the plight of hobby landlords.

And this is where your assumptions are often not correct.

I rented out my home on an initial year contract as I was going to work abroad because I was broke. It was a semi 2 bedrooms and a boxroom. I loved it, left it immaculate.
Tenants trashed my house, disgusting mess..They had children and I dont know how they didn't get some disease with the squalor they left my house in.
If tmi don't read on...
Vomit in a bucket at the back door, covered with rain water so it had been there some time.
Shed literally full to capacity with old rubbish including food, again must have taken some time to fill , stench was overwhelming.
Oven had 1 inch thick grease all over it.
Carpets stained beyond any normal wear and tear.
Bathroom disgusting and bath had cigarette burns in the plastic. Toilet soiled.
Cut down some well established beautiful plants at the front of my home.
Needless to say rear garden unkempt and full of rubbish and bags full of I don't know what.
They didn't pay last 4 months of rent ..I tried to consider they had children but on social media their Christmas tree was surrounded by presents and they were having numerous trips and holidays. So I asked them to leave.

I ended up having to sell and lost money on it. No recourse for me as the landlord. They knew how to work the system and I didn't.

Any reasonable person would be ashamed to leave any accommodation like this.

A friend got married, rented out her old house and exactly the same thing. Her husband advised her not to go see it as she would have been distraught.
So if you support this behaviour but need rented accommodation no wonder landlords are selling up. Anyone who ever mentions to me about the possibility of renting out a property ..I tell them not to bother.

There's such a shortage of housing stock that's just not happening.

I rent. Various reasons and not my choice.

I was in my last house for 15 years. They put the rent up 3 times in that time and it was half the amount of rent for similar houses in the same area by the time i moved out. I decorated it fully, kept it well and, when I moved out, they sent me a lovely card and gave me a bottle of wine to say thank you.

I have a professsional career just not a high paying one and, with no inheritance coming way, a ceiling on my salary and age not being on my side anymore along with being a single parent with no support...

Anyway, I've been in my current house for 4 years. The garden was overgrown and a mess when I moved in. It's not quite beautiful, but it's getting there. I look after the house as though it were my own.

My LL would be crazy to get rid of me! But I am aware that it might happen anyway 🤷🏻‍♀️

My LL doesnt even other doing annual checks anymore (neither did my previous one) because the house is immaculate and I'll keep it that way whether they come round or not because that's just who i am.

We're not all dicks 😉

Potentially being the key word here. They are very very rarely held accountable for the slum like conditions they rent out to vulnerable people.

For neighbours and people who are maintaining their properties in these buildings or next door it’s a misery to live beside.

Landlords are predatory, selfish individuals with no concern or consideration for anyone or anything except making a profit.

I don’t care how many of you on here claim to be ethical landlords, at the end of the day your only concern is making money at the expense of others.

i am not surprised landlords are selling up. Whilst there are no doubt unscrupulous landlords, there are also many who have a constant battle with badly behaved tenants, and the law seems to be against them.
I expect that many of the properties will be bought up by large companies, I know in London there are some large new developments of properties owned by Banks/Insurance companies etc that are only available to rent. I then expect that the law will change in favour of the landlords….

Oh, lots.

At least you admit to your lack of reading comprehension 😊 try not to use the same adjective twice in one point though.

I didn’t have a mortgage - it paid for the insurance, repairs (2x new cooker,1 new boiler), letting agents fees, lowered rent during COVID, and finally solicitors fees trying to get her out

And your skewed thinking is part of the reason why a lot of people have nowhere to live...

Unlike mortgage providers, do the math. 🙄

The government is set to subsidise private landlords by more than £70 billion through paying them housing support over the next five years.

That is taxpayers' money going into the pockets of private sector landlords. It's an absoloute fucking scandal! And it's been like that for a very long time.

I think people don’t care and it’s one bc last screw you to the landlord who is forcing them out via repossession

Presumably you feel the same about grocers shops - making a profit from selling essentials like food to people. Do you think all housing should be free?

The government doesn't care. They are waging a war between LL and non landlords to distract from the fact the current housing crises entirely due to general shortage of (quality) housing in this country which is down to failing of planning and policy at national and local level.

I'm not saying there are no bad landlords, there absolutely are, but the current policy means that really the only way to stay afloat as a LL is by either being a shit LL breaking every rule there is to maximise profit or by being old enough to have been able to buy the houses 30 years ago at really low price when there was limited regulation.

I had to evict my perfectly fine tenants to sell the house because I just can't afford to keep the house, pay the mortgage and do the impeding improvement works to uplift to EPC C from D. The rent alone doesn't even cover the interest payment of the mortgage let alone other costs. I offered to sell the house to the tenants at a discount but they can't afford it despite having average/slightly above average salaries because the cost of living makes it difficult for most people to save enough buy house or be able to afford a mortgage.

I'm not saying I'm a victim here, it is an incredibly privileged position to be able to have afforded to buy a property in the first place (we rented our home out as OH's job took us to the other side of the country). I'm just really concerned that the current policy is going to massively penalise people who cannot ever reasonably afford to buy and maintain their own their house, be it single parents, disabled or elderly on low income. The council is never going to be able to provide housing for all and what's gonna be left is private LLs who have been able to stay in business because they have no shame in charging as much possible while skimping on their responsibilities and providing as little value as possible.

We sold our rental last month. We'd had it for 20 years and always been very good land lords. Luckily we never had awful tenants. But it became more difficult. Tax changes and increased mortgage rates meant the profit was massively reduced. New legislation to protect tenants meant we would find it much harder to get rid of bad tenants if we needed to. Just to much hassle overall. We are going to pay off a big chunk on our mortgage instead.

My old head office in Paddington has been converted into flats by an overseas landlord.

The banks will just keep and rent out the ones they repossess.