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.

Youre going to shit when you find out how much people make from selling food and medication.

Always amuses me that basic human rights are demanded from those who rarely take responsibility.

Can you link to peer-reviewed articles indicating this? Or statistics from a reliable source?

Or are you just posting clickbait?

This isn't true. Renting gives flexibility so e.g. students and people at the start of their career who are moving regularly for work will always want to rent. I spent my 20s in shared rented accomodation while I did my degrees and post docs. I lived in five different cities in that decade, it would have been ridiculous to buy and sell each time I moved. Once I was married and DH and I both had permanent jobs we bought in our 30s, lived in that house for 15 years and sold it for £10K more. So that wasn't a great economical decision either (prices dropped in 2008 in the north east and didn't start rising again for 10 years).

The British obsession with home ownership leads to inflexibility in the job market because people don't want to move because tof the expense of selling your home. Well maintained, reasonably priced, secure rental properties are always going to be required.

A basic human right is a roof over one's head - literally. Like in a Booth (William Booth) Salvation Army house for the homeless. With single-sex bunk beds and a toilet/shower down the corridor. Or a warehouse with rows of folding beds. A basic human right is not taxpayer-sponsored accommodation with separate bedrooms, etc.

So how would you go about that?

You are saying the government should be allowed to just take property from the owners to house people? That's a very slippery slope....

im a landlord. I have had several tenants refuse to pay and it takes over a year to get them out. I’ve had to write off tens of thousands of pounds from people who have more income than me but no assets.

hardly an easy “cash cow”

On paper this all sounds fare
However

The reality is very different
Once you’ve put a notice in the courts make sure all the paperwork is correct. You may need to employ a solicitor ££ as it’s very easy to get it wrong and the courts will throw the case out and you are back at the end of the queue again.

Once the courts agree the paper work is correct the tenants are given a date to leave

Citizens advice will tell them not to
They don’t and you are back to the courts asking for an eviction notice
More solicitors ££ barristers needed for the court £££ more court fees ££ more time waiting.

Once you’ve got your eviction notice you then need bailiffs ££ and more waiting.

Citizens advice will tell tenants to wait till the bailiffs turn up because they will not help with housing unless tenants are literally homeless ie thrown out by bailiffs.

Lets not forget for the stressful amongst us that you are required, as a landlord, to attend court and answer questions as to why you want your property back whilst the tenant doesn’t have to be there at all.
Let’s also not forget that even if rent is less than mortgage or rent isn’t even being paid and it’s costing you to house strangers that you will still not get any free legal advice. Not even citizens advice will help! Even though they say they should they simply don’t. Except for to tell you to pay for a solicitor and barrister for the court cases.
It is an incredibly stressful process
And It takes a ridiculous amount of time for those that don’t want to move
It costs the landlord thousands

Okay but you are aware that no investment is risk free

I believe councils can force sale or upkeep in some situations. Which I think is fair tbh. It's not just housing people, it's also public health and Safety issue sometimes.

While they themselves have tens of thousands in disripear and empty......

The reason it leads to a net loss in housing when rental property is sold is because owner occupied housing is less densely populated than rental property.

When house prices reduce but aren't rented out people with more money can take the opportunity of buying more space e.g. spare room, study or extra reception.

Councils can impose financial penalties on empty properties to deter people from doing this.

By far I’ve come across more shitty landlords than tenants. If landlords want to ask why tenants leave houses in a state then they need to look in the frigging mirror.

They have to find the owner first
Thats not always as easy as it seems
They are not legally allowed to gain access unless they have a key.

Good grief.

As many pp have already pointed out - it doesn't work like that.

Do the people on these threads posting comments such as the above read newspapers? Have an eye on what's going on in the country?

There are already not enough rental properties, it is set to get much much worse.

We have around 20 applicants for each of our empty rental properties. The cost and risks to the LL's are very high which means putting rents high to mitigate their costs and the risks.

It is supply and demand and at the moment and probably for a long long time now demand is much higher than what is available.

It isn't something that may or may not happen - it is happening right now and has been for a while.

It does not mean there will be a proliferation of cheap housing stock. It doesn't work that way.it just means people who need to rent are fucked.

Landlords have this weird attitude that their returns should be guaranteed and that buy to let property should be the worlds only risk free form of investment.

If you want to buy up stocks of what is a basic human right and charge folks a premium for it, that does and should come with a level of risk.

If landlords find that that level of risk is unacceptable there are of course plenty of other investment opportunities out there that they should feel free to consider.

For PP who said about not always making a profit, does the rent not cover the mortgage even during 'non profit' periods so you're gaining an asset that other people are paying for?

I genuinely always thought that's why people rented out properties! But then, I'm a renter and not a LL.

We were accidental landlords for a year when we had to rent our home out. I would never be a voluntary landlord, I know we got of lucky, but it still cost us to clean the house up, repair and replace things after just a 12 month lease. We’ve even had bailiffs turn up looking for the tennants.

I know others who have rented out second homes, usually due to moving in with a new partner or inheritance properties. All have said the same thing, they’d never be landlords again. One had to go to court to get an eviction, the house was completely trashed and rent hadn’t been paid for over a year.

That's not entirely true, if a tenant refuses to pay, there's very little you can do. They can sit in the house for years while the landlord goes through the legal process, the legal fees alone often run into tens of thousands. The systems open to abuse and plenty of tenants do.
Not all landlords are wealthy landowners, there are many pensioners who've invested everything in a property to provide an income in retirement who are financially ruined by abusive tenants.

We need fewer and larger housing associations. Run properly with good maintenance teams. Tenancies should be much longer term (why look after something if your only there six months). Homeowners should be able to quickly and easily sell to the agencies at a slightly below market rate in exchange for quick sales and reduced capital gains tax.
landlords should be properly regulated and all homes should be of above satisfactory standard before tenants move in. Both tenants and landlords should be referenced

Why do it then? Why choose rental properties as a business rather than investing in the stock market or starting a different kind of business. Presumably it makes you more money than anything else you could be doing with your capital. So it can't be that bad

I had to buy a new kitchen when my last tenant left. She'd been given an eviction notice, moved out eventually (long after the date given) after not paying her rent for 5 months. Guarantor uncontactable-and she wouldn't give the keys back so I didn't have possession. Went to court, she didn't turn up, possession granted, she'd left all her belongings including shit-smeared beds and bedding, dirty nappies (3 toddlers/young child) 'scuse my language it was fucking disgusting.
No deposit back, CCJ and money order in place now.

And second homes and holiday let’s should have to apply for PP/ change of use status to regulate the numbers

Those that are selling don’t want the increased hassle and the financial risk anymore.

They’re moving their money to other investments, as is their right.
Hence the reason for the thread.

🤣🤣🤣🤣
This is the funniest comment so far.

(Sorry, couldn't resist).