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.

Well you wouldn't would you.

Because you're entirely self-serving.

WTAF 😂

Jesus wept do you really think these are good analogies for the rental market?

Yes you know what I like? I like to be somehow trapped into shopping at a terrible supermarket, that's more expensive than any other and has dangerous products, while there's another perfectly good store round the corner that I can't access even though it's cheaper. And I want the manager of the shitty supermarket to pretend he's doing me a great service out of the kindness of his heart, and that if he sold the store to someone else I would somehow starve.

Do you get it now??

I don't hate landlords.

I just hate landlords who moan endlessly about their terrible tenants and claim to be performing a social service.

However, I think that's only the one's who are letting properties to try and cover a mortgage.

So - effectively - they're tenants too.

Looking down on tenants when you're a tenant to a mortgage company while trying to cover a stupidly expensive mortgage because you don't own the property?

That's why people don't go for the LA incentives.

Because they're tenants to the mortgage provider.

That's why the poor souls can't walk away.

Nothing wrong with admitting you're feeling the pinch.

Everyone is.

But don't expect a tenant to pay a mortgage on your second home when you can barely finance your first

Just sell up and put the money towards the mortgage where you live.

This is how most big businesses work
Mortgage upon mortgage upon mortgage.
Borrow on one to pay another and realise the investment in the long term.
Its business

Most, if not all, local authorities offer landlords a cash incentive if they're willing to offer long term tenancies to families and help out with the horrific issues we - as a society - have with the lack of provision of affordable housing
Such incentives often mean that as well as shortfalls in rent not met by benefits and initial deposits being paid directly to landlords, any repairs or maintenance are paid for by the council too

Sounds an ideal solution doesn't it, @BornSandyDevotional?

A friend thought so too and had a lot to say about the "social capital" she was building through her choice ... right up until the place was turned into a drug den

Predictably the rent isn't being paid either by the tenant or the council - apparently the department supposedly set up to handle this is "still in progess", whatever that means - and no repairs have been done because the inconvenience involved is deemed to be "damaging to the tenant's mental health"

Maybe not so ideal after all ...

Why else would you be a landlord if not to make profit?

I don't see landlorda here claiming they are providing social service. A necessary or needed service, yes.
Same like many other businesses really.

And many of these other small businesses are also shutting shop btw. But people don't care generally as much because large business are still present.
I think it will end up similar way with rentals. Small businesses/landlords will dissappear and everything will be owned and controlled by 4 companies creating very little competition and at the same time creating so powerful players they will have an influence on things which will not benefit anyone around.
Food example could be Mondelez in food.... Bought many smaller good companies and now everything taste shit with higher price tag

I don't think you would do it to not make a profit. That wasn't really what I was thinking.

I was more musing that if landlords didn't have mortgages rent could be lower and perhaps bigger companies would have more capital to invest or differently structured loans at better interest rates.

Btw the UK isn't some sort of anomaly with home ownership, it's actually on the low side when compared to all European countries. Germany, Austria and Switzerland are the anomalies with their very low percentages of home ownership.

It’s also worth noting if the tenant is growing drugs the landlord is legally at fault just as much as the tenant and could face prison.
Even though the landlord has very little rights in terms of access to the property.

MIL accepted a Tenant whose rent was paid direct to her by Housing dept under a special scheme.
They trashed the house and annoyed all the neighbours but she eventually manged to get them out.
THEN the Council came after her to get the rent they had paid back as they had claimed fraudulently. They didn't back down until her MP got involved.

MIL accepted a Tenant whose rent was paid direct to her by Housing dept under a special scheme.
They trashed the house and annoyed all the neighbours but she eventually manged to get them out.
THEN the Council came after her to get the rent they had paid back as they had claimed fraudulently. They didn't back down until her MP got involved.

That hasnt been the case for my friends at all, there was an agent involved who had access but he was arrested also, there has never been a suggestion from the police that the landlords were looking at any sort of prosecution. It wasn't a minor operation at all, they had the whole flat rigged up to grow weed on a huge scale. It looked like something out of a film.

My friend's aware of this and is frankly worried sick, Stirabout

Realistically it's unlikely to actually mean prison - especially when his pleas for the council to help are well documented and it's been made quite clear that there's not a hope in hell of evicting them - but the sheer stress of the situation is something to behold

Doubtless it'll be considered no more than a landlord deserves though ...

We had someone who absolutely trashed our rental - let dogs urinate all over the floors, smashed internal doors, left with loads of rent debt. There are some awful tenants around. We had to completely refurbish just due to the damage and the insurance paid a pittance towards it. And not a thing we could do about recovering costs

Please explain the link between landlords and you giving up your PGSE. I may well be self serving also - as I am also totally baffled.

If you won't enlighten us perhaps some of the non self-serving among us could have a go?

I've inherited a rental property. The last thing I ever wanted was to be a landlord, and the place is a milestone round my neck. Last the last year that my parent rented it out, ever penny of the rental income went on maintenance DVD repairs because the long term tenants didn't look after it.

So I'm selling. I'd be delighted if the tenants wanted to buy, and they'll have first refusal. But given that they've not been reliable payers, I suspect they won't have the credit rating or deposit needed.

Despite their lack of care for the place, (and active destruction in some cases), I do feel bad about evicting them. But life sucks for me in other ways at the moment and the stress of owning and being responsible for this property is just another weight on my shoulders.

It was weed I was referring to
Properties in dodgy area of Medway. Practically everyone in the street had weed growing in their cellars
I bought to rent and it was a builder that warned me. I didn’t know the lights and foil at basement level was a big red flag 😳

Another landlord was arrested, think he owned a few properties and had reported the tenants himself. He was still arrested though. His lawyer got him off but it was expensive and stressful. Legally landlords are liable as they own the properties.

I sold up after the refurb

On the off chance that anyone actually cares about facts, here's a link to the stats on the quality of "service" provided by private landlords. Knock yourself out @Userlosername

https://commonslibrary.parliament.uk/research-briefings/cbp-7328/#:~:text=The%20PRS%20has%20the%20worst,Standard%20for%20the%20first%20time.

"The PRS has the worst housing conditions

The expansion of the PRS has focused attention on the need to improve conditions. The English Housing Survey (EHS) estimated that in 2021, 23% of PRS homes did not meet the Decent Home Standard – around 1 million homes. This compares with 13% of owner-occupied and 10% of social-rented homes.

PRS homes were also more likely to have at least one Category 1 hazard under the Housing Health and Safety Rating System (HHSRS). An inquiry by the Public Accounts Committee in 2022 concluded “the sector is failing far too often to provide safe and secure homes for renters…”

There were mutterings that the royal family were bad landlords renting out moulding properties.

This is terrifying! I can only assume that due to there being an agent involved that my friends weren't held liable. This wasn't even as subtle as weed growing in the cellar. I have attached a photo from Google but imagine that the whole flat looked like this ...

Gosh. That's unusual.

I'm surprised I haven't heard of that.

One assumes they received adequate compensation?

Which local authority was that?

This initiative is funded by central government (therefore the tax payer).

I certainly didn't see this when I was working in that sector.

It's by-the-by though isn't it?

The issue here seems to be people with mortgages on second properties that they don't live in moan endlessly about letting properties and not raking in enough dosh to cover their second home mortgages.

And blaming tenants for it.

They're so hard done by!

If you have a mortgage on a home you don't live in, you're a tenant also.

Your mortgage company is your landlord.

If you live in a home with a mortgage, you don't actually 'own' your home.

It - honestly - really winds me up when people with mortgages look down on people who rent.

You see that monthly interest?

That's your rent.

You just get to keep part of it when you sell up.

Which is better than shares ownership because no one wants that!

I really don't care if people renting off the mortgage provider are sweating it while being mean to their tenants

No one is a better human being than anyone else.

Owning loads of property is hardly a badge of honour

Just look at the Church of England!

No one is better than anyone else.

Certainly not in fuedalistic terms.

If you hate being a landlord, don't be a landlord.

If you're mortgage is too huge, talk to your mortgage provider

Don't slag off your tenants.

Pay more tax.

Don't pay more tax.

Take out your collateral (such as it is)

Don't take out your collateral (such as it is).

It's that simple.

Inflammatory

Who is looking down on tenants
Who blames tenants
Who here is mean to their tenants
Who said anyone was better than anyone else
Who is slagging off tenants other than giving factual examples of problems they’ve had

The only ones slagging anyone off on this thread are the usual I hate All Landlords brigade with the huge chip

Nothing new to see here 😴🥱

Just to be clear
A mortgage is a loan
Its not rent 🤣
Mortgage companies aren’t landlords they’re lenders

So boring