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.

Err. I'm not.

I also worked in a bar 30yrs ago.

I am very happy with my career and life now, thank you.

It was an analogy you didn't appreciate.

It was probably a poor analogy.

But stop conflating things.

You're trying to be goady but you're not hitting any buttons because you've turned a throw away comment on a daft online forum into a summary of a stranger's entire life.

Cotswolds Outdoor Shop has a really good deal on grips currently.

You should treat yourself to one!

This thread got waaaayyyy to weird😂

You made the rather strange comment. Then when questioned, you doubled down with an insult.

You made the rather strange comment. Then when questioned, you doubled down with an insult.

It was an analogy you didn't appreciate

And now another cryptic insult.

Exactly! Not a throw away comment if you then insult people for not understanding it when originally asked to explain.

You are so funny.

I thought that mentioning our inheritance would annoy you.

Actually, both my parents are alive and going strong. We didn't inherit from them.

It wasn't me that called you workshy incidentally.

And how did you come to the conclusion that I look down on people who rent? I rented when younger, in shared houses first then flats both in the UK and in 2 other countries.

I mentioned the inheritance as you were being smug about not having a mortgage while other people do, or even have multiple mortgages. Or does it only count if you become mortgage free by 'hard work' (whatever that means) rather than the way we (and many others) have?

I'm finding this insight into your belief system so fascinating!

I know, it's great isn't it!

Yes but not for free! The idea is that you work to provide these things for yourself and your family. Your income will then dictate what kind of property you can then rent or buy.
Nobody says anything when they see people living in mud huts in Africa or wherever but it is still their home. It is what they provide for themselves according to their circumstances and be proud of it however poor they are.
Too many people expect to be handed everything they need for free and then don't look after what they have and bemoan their choices.
DD is/was a landlord - her tenant has skipped owing the last months rent having said they were looking to move and leaving the house in a tip and painted in myriad of godawful colours. Current rules of abandonment etc means she has to jump through hoops to be able to sell her property all with the risk that the tenant can walk back in a few months later and claim they have a right to the rental and pretty much all because they didn't hand the keys back!!
She gave a reasonably good reference guiltily knowing that the next poor landlord would possibly have to face the issues they have had rather than be stuck with a pretty poor tenant herself and meet the interim costs herself until she can legally sell the property. I don't blame any landlord for wanting to get out under these circumstances.

I use LGA definitions. Market value is quite flexible.

Market value in terms of housing benefit is extraordinarily low.

Yet, for shared ownership and the definition of 'affordable' when it comes to building corporations meeting their required quotient on new builds, It's a lot higher.

A thirsty person will pay over the odds for a bottle of water.

But it's still a bottle of water.

It is indeed difficult when a big player like the government distorts normal market forces.

But I don't think anyone wants either a fully capitalist or a communist system, so the government must find some way to walk in the middle, causing the least damage they can.

From a landlord perspective I have 10 BTL properties and just in process of purchasing two more. No intention of selling up as the demand for good quality well maintained rental properties is growing hence buying another two. The main thing with being a property landlord is being fair with tenants - I initially take a guarantor for all new tenants but happy to release the guarantor after 12 months when I can see rental paid on time every month and after the annual property inspection is done.

When a tenant asks for a repair or has a concern with property I deal with it promptly as the tenant has a right to a well maintained home and as the owner of the property I want to keep it in good order. I have a local handyman who deals with most issues and I would always try to get him to attend the next day providing he can get access and can honestly say I have never had any complaints about property maintenance issues. I don't use a letting agent as prefer tenants to contact me directly about anything they need doing as years ago I did use an agent but found they were slow to react to tenant requests and arranged repairs that they charged a premium for.

The property rental market exists for the benefit of both landlord and tenant - yes I make money from it or there would be no point in continuing but also there are people who have no other option but to rent and they deserve a decent quality property which they are happy to pay for I charge what is a fair rent for area and property type and this results in long term tenants who I have very few problems with.

I'm glad you find me fascinating and amusing.

I'm genuinely happy that you've inherited loadsa money.

And that your parents are still with you.

It doesn't annoy me at all.

Nor am I envious.

I think you're judgemental because you've aimed a number of disparaging comments towards me directly.

I'm not at all 'smug' about being mortgage free.

I mentioned it because a poster (not you, as I previously observed) said I was clearly a freeloader with no career because of a decision I made 30yrs ago.

I'll try and not make shite analogies in future.

Does that help?

I have to say, if I were you, I'd be out romping through my acreage.

Instead of calling strangers names and trying to be all goady on teh interwebs.

But that's just me!

Have a wonderful weekend.

I'm sorry for calling you self-serving.

That was unjustified and insulting.

I agree. Those Single Child Children’s Home Companies are very popular with overseas investors. They are known to be highly lucrative: the property is safe capital, the care staff are on low pay, the police are on hard to deal with any serious disciplinary issues, and the businesses can be, and are, run from a laptop while sitting on a beach thousands of miles away.

The councils are like lambs to the slaughter.

No. It was 30yrs ago.

I wasn't forced to do anything.

I just wasn't good at teaching.

It was clearly a crap analogy.

People who aren't good landlords should probably not be landlords.

I'm not going to feel desperately sad about bad landlords selling up.

They don't provide a public service.

Anymore than bad teachers do.

No one will shed a tear when they go.

That's all I meant to say and I expressed it very poorly.

My apologies to the entire thread for being an ass hat and being unclear when I could have just said the above and zipped it.

Now, please, can people stop berating me for wording something badly.

I'm more intrigued by the landlords who have repeat tenants who 'trash' properties and deficate in the bath!

How is that cryptic?

Or an insult?

Literally, I used a bad analogy.

It didn't work and made no sense, clearly.

It's Mumsnet.

I'm not the great arbiter of taste or opinion.

Neither are you.

It's okay to disagree with someone.

It's okay to use crap analogies.

It's probably okay to be like a dog with a bone over something entirely inconsequential.

That doesn't mean we can't do better.

I'm not going to start loving exploitative private landlords (which is by no means all of them) because they have to sell a property they don't live in because it's no longer cost effective.

That's all.

You're welcome to apologise for calling me a workshy freeloader - and being goady - because of a very positive decision I made 30yrs ago.

But I very much doubt you will.

Unless you have a comprehensive list of tradesmen on permanent standby or can do the work yourself, I fail to see how repairs are done within 24 hours. Sometimes it's possible, often not. I mean, what if you need to wait for a part? How did you cope in Covid?
My boiler went the other day. On a Thursday. I had an the gas engineer out on the Friday (I called him because he had serviced the boiler on the Monday). He wouldn't touch it as it was under guarantee. The Bosch engineer out to them on a Monday to fix it. How would it have been possible to do it any quicker? Like in the real world and not just someone making a claim on an internet site?

And how is charging market rent being greedy? Above market rate, maybe, market rate, no.

And plenty of tenants trash their home. I guess many don't see it as their home, just somewhere to eat and sleep and destroying your property gives them a little kick to make up for the pain of paying the LL money each month.

I've had some really nice tenants but many more that, lie to you, ignore you, destroy your property and then get nasty when you stand up to them. I can't wait to get out.

Ahhhh! Now I get it! Thank you.

If you have a mortgage on a home you don't live in, you're a tenant also
Your mortgage company is your landlord

You've mentioned this several times, @BornSandyDevotional, and I really should remember it when sometthing in my owned home next needs repairing - except that it seems to show a complete lack of understanding, since in law a homeowner is exactly that but with a charge on the property

The council concerned is an east midlands one, but I wouldn't say that hanging out to dry those who've taken up their offer of "support" to house vulnerable tenants is "by the by" ... more an indication of what so often happens when incompetent bureaucrats are allowed near the sector

I had to smile when a PP mentioned that folk "have to look after themselves" though. Funnily enough this is rarely said about landlords, but often quoted to those grabbing much needed social housing for themselves tthrough Right to Buy - even those who've previously moaned about waiting lists but change their minds when a financial opportunity's dangled before them

And what would happen to these lovely rental properties if sold instead? You think some under privileged, low income, can't afford the deposit or fail mortgage spp criteria person is going to swoop in and buy the home? No, that potential tenant in need will have to try to get another private rental. We need private rentals. Why is that such a difficult concept for people to get their heads round? It's not shortage of houses per se, but people's inability to afford to get on the property ladder in the first place.

I believe some people do want fully communist system. Because they don't really know what it is and what require were/are put at people to actual get the things they need.
Same with "we want better tenancies, have right to decorate etc." Somewhat reasonable but ww all know many of these people would also throw a hissy when they have to return property to original state when moving out.

Too many people expect to be handed everything they need for free and then don't look after what they have and bemoan their choices

Ain't that the truth, @Rainbow1901 - and yes, it includes those landlords who seem to think they're entitled to provide terrible housing without being answerable for their decisions

To my mind what we need is an approach which balances everyone's neeeds, but unfortunately it's too often hijacked by a determination to paint chosen groups as the devil incarnate when life is rarely that simple

If more houses on the market then surely prices will drop meaning that some of the many young people who have been unable to get onto the housing ladder have a chance of affording their own home? Can't get too sad about landlords losing the profits they make at the expense of the poorest in society.

Clearly some posters on this thread have some serious, and unresolved, issues.

Mindblowing.