Why so much hate for Landlords on MN?

[coulditbeme2323]

Who do LL's get so much hate on MN?

It seems so much more hate than there is any real life.

Why zero of course.

It's their property, paid for by their money of course it's earning rent. Any jobs done whether by the landlord or subbed is payable and recouped back in rent. This reminds me of the envy around private schools. It's not immoral to own and rent out a property. A touch of communism is being applied by the looks of it. How very dare private landlords not share their wealth.

So are you going to answer?

I am a landlord, albeit a one property one.
The mortgage on my rental property is interest only.
I make no profit now. The profit I made in previous years was ploughed back into the rental property.
During Covid I paused the rent, despite still having to pay the mortgage.
Repairs are done immediately.
My tenants choose what decor they want, carpets, kitchen doors etc. and I pay. They've had two new cookers which they chose themselves.
I reduced the rent when they were struggling - I didn't increase it for years and when I did it was by £20 per month.
I haven't hassled them when they've paid late. When they've missed a month they paid it back in stages.
I would be much better off if I sold the house but it's their home so I won't sell.

Yeah, I suck don't I?

(I appreciate I might not be what posters slagging off landlords are referring to, but sweeping statements also suck)

You don't sound a very competent business person if I am being honest.

Your world sounds nice.

I make a monthly profit from my portfolio but they are interest only except for 1 house. I won't ever own the houses. I can however sell them to release equity.

Humans 'earn', because they work. Money does not 'earn' because it does not work, it does not do labour.

Yes people talk about financial investments 'earning' interest, so the word has acquired a secondary meaning, but I am using the word to mean what you get from actually working.

If you get money without working for it, from any kind of investment, you are part of the capitalist system, getting money off the back of other people's labour.
Which to my mind is immoral.

So you don't agree with buying shares either?

80% of BTL mortgages are held on an interest only basis. This is the norm. If you are renting a house it is unlikely that you are paying for your Landlord to own the asset.

Shares are accumulated wealth built on an investment. Not sure of the correlation.

No, but that is off-topic as we are specifically discussing private landlords here.

So you don't agree with pensions as a concept either? If pension funds weren't able to invest the money we pay into them to 'earn' money then we would all be absolutely screwed in retirement. So is workers depend on this capitalist system too

This is what the poster said I was responding to.

"If you get money without working for it, from any kind of investment, you are part of the capitalist system."

Shares fit that description.

All the hate seems to be towards the individual landlords not the institutional LLs. (Is it Lloyds who is now the biggest landlord? No mortgage issues there!) I doubt that they are better than the individual landlords. It's not LL Vs council - it is really individual LL Vs institutional LL Vs council/social housing.

I don't get the 'morally wrong' thing either - is Tesco also morally wrong for making a profit from food - an even more basic necessity?

The NHS who employed the doctors doesn't make a profit? Why are you equating public healthcare with private landlords?

Do you agree with anybody making money at all?

Is anything safe from hate?

Worryingly, if you claim any benefits or use any public services, you're also benefiting from other people's labour and/or government borrowing (so other people's money). Only a minority of the population are net contributors and we all travel on the roads etc paid for by the borrowing.

If it's not so easy, why are you shying away from telling us what's so hard about it?
All you've offered is "it's earned, it's not easy, but I can't tell you why"

Of course it's easy. And it's not earned.
The only people earning are the tenants.

Maybe David Attenborough?

Nope. There was a thread on him - I was surprised to see some hate there too.

I agree with state pensions, not private ones.
In principle of course, ideally. I am aware we don't live in a perfect non-capitalist society.

The problem with private landlords is that there are waiting lists for state housing. If there were no waiting lists, if everyone could rent a state home who wanted one, I would have no problem with private landlords providing an additional service for the convenience of a tiny number of customers.

But it is morally wrong to profit from people who want a secure home and can't get one.

The private units they have in many of the large hospitals absolutely do. And in some specialities (not all) there are lucrative private practice opportunities.

Hedgehogs?