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.

To be fair there are some people who are forced into being landlords. Being a POA and Paying for care homes is an obvious one.

That’s a ridiculous statement. Lazy thinking? Most of the land in Britain was stolen, first by the invading Normans who handed it round to their mates, and then by the Dissolution of Monasteries and Enclosure. I don’t really call the Selling Off of Council Houses or Buy to Let moral either.

Land and territory is a necessity for life, and the one question I never get answered by landlords is, if owning a house is such an unreasonable proposition for a working person exactly why does the landlord need 10 or more?

Why would they need to rent the house? You could just sell it surely?

Sell it.

I don’t think it is always that simple.

I make a loss of £3,000 ish a year.

It's more than worth it to retain an excellent tenant.

She will never be able to buy (although I don't think she wants to actually). She is single and on a low wage. I suppose she may inherit money.

The majority of landlords in the UK, like me, own one property.

Why don’t you sell it and invest the money on something that gives you a return? What’s the point in paying someone £3k a year to live in your spare house?

So that DH and I have somewhere to live when we retire and/or so our daughter does. It's a long term plan. I waited years for interest rates to rise and lacking a crystal ball, bought rather than have money sit in accounts with low interest.

It's not my spare house. It's currently someone else's home. Someone who'd be renting from someone else if not me (by the way she's had 3 other landlords in the 25 years or so I've known her and they've all been good). As they should be as so is she!

Yes it would.

You need to look into why HAs can access cheap capital and grants and how scalable this would be. A billion pounds is nothing. It would stretch and completely break the credibility of any government sovereign guarantee when you're trying to raise a trillion pounds which is what you would need to cover the cost of acquiring all the property in Britain's private rental market portfolio.

You would also have issues with the fact that investors like social housing because it is government backed and has a much lower default risk. It is far less volatile then the open market as it is immune to regular market pressures from economic downturns from example. To make all rentals into social housing would involve encompassing all kinds of tenants, not those that are on government backed benefits. This would increase the risk and therefore increase the cost of borrowing.

No, I think people hate landlords in real life too, they just don’t say it to their faces.

@coulditbeme2323 , I’m not embarrassed…

You’re taking this too literally. It’s my ideal world. The private landlords no longer borrow money (because they don’t exist) so the only market to lend to is social landlords.

Van living? Property guardianship? Are you joking? You think that's preferable for people than renting a house or flat that can be a temporary home? Honestly some people are almost extremists. Does what people actually want come into this at all? Just a bog standard, regular home to rent for a while, not living in some vacant random potentially completely appropriate or a van that has limited climate control and is totally inappropriate for most people.

How are CLTs going to purchase the huge amount of land they would need to be effective?

It's all just pie in the sky

Where do the people who think landlords are evil and landlording should be banned think people who can’t afford to take out a mortgage should live?

Not everyone has family to fall back on or can take out a mortgage my parents were strict catholics who disowned me at 16 for getting pregnant would have lived in a homeless shelter forever if not for a landlord. Whether you had a bad experience or not they are still providing a service that is needed. Supermarkets are profiting off people needing food should they be banned?

You do realise that investors don't have to lend money to landlords at all?

van living 🤣 no thank you how does that work if you have kids I’ll keep renting from a landlord thank you

Landlords will be hated, regardless of how anyone might try to justify it. Don’t like it? Don’t be a landlord.

Of course I do.

We could bring back council housing, which is better economics anyway. Pay housing benefits to a landlord and public money goes into an individuals private pocket. Pay housing benefits to a council, and it recirculates as local services. This is why Britain is claimed to be poor now: because public money is flowing freely from the working taxpayers into the pockets of non working landlords. ( and I saw the anecdote upthread, and raise you my own, which is that most landlords don’t work and own many more than one property, which they run into the ground to maximise their profit).

Data shows the majority of Landlords work. 45% of landlords own just one rental property.

Don't let facts ruin your narrative though...

None of my landlords had jobs, all had more than one property and all bar one was damp, over 20 years of handing my working wages to the baby boomer rich.

When so many people will never be able to afford to buy a home of their own of course it causes bitterness when other people own multiple homes. Particularly as rents are ridiculously high all over the country.

It's not hard to understand that if you watch 'Homes under the Hammer' and see someone buying another 'investment' property and announcing that they already have 27 of these in their portfolio that a lot of viewers are thinking 'Wanker' to themselves?

Anecdote is not data.

Totally wrong example. In that example competition has helped keep prices down for consumers
Supermarkets make massively more profits than the average landlords. If being a landlord is such a huge profit making business, why have so many suddenly decide to sell ...when the gov decided to treat all rental income as paid income, when they introduce rules that only penalise landlords.

If demand significantly out balances supply, it's because landlords are treated more and more as social landlords with very little to gain, so they get out of it.