Any landlords on here had enough?

[diy_fun_uk]

The problem is the tenants now have the upper hand, and around here landlords have had enough, it seems they are moving to the mobile home market where the laws are not so strict.

I can't blame Tories as Wales is a Labour government, with 20 MPH speed limits from September and no cheap booze, I have to travel to England to buy it.

I have only rented once, while in Hong Kong, and it was only temporary. But if you need to move for work, the time taken to buy and sell is far too long, and there is a high chance of loosing or making money when forced to sell and buy. I can see why people rent, and also there is the out of work problem, with a rented home the government helps, but not so when buying with a mortgage.

But I had at one point 2 homes and I did consider renting one, but the rules are too strict, to rent I was told needed to fit new kitchen, as existing had been modified for the disabled, fit smoke alarms as existing ones linked to call centre would be deactivated on my mothers death, and the estate agents list went on. So we sold it, simply not worth the hassle.

Yes we have SNP/Greens up here, very anti-private landlord. Labour would be no better. Ironically, on this the Tories are probably the best party to be in power.

Yes the criteria landlords must meet is getting lengthier and lengthier, they call it the 'repairing standard' up here. Landlords need to jump through multiple hoops, tenants can take the p1ss and face very little if any redress.

Parity? Don't make me fecking laugh.

 

[SirGalahad]

Yes we have SNP/Greens up here, very anti-private landlord. Labour would be no better. Ironically, on this the Tories are probably the best party to be in power.

Yes the criteria landlords must meet is getting lengthier and lengthier, they call it the 'repairing standard' up here. Landlords need to jump through multiple hoops, tenants can take the p1ss and face very little if any redress.

Parity? Don't make me fecking laugh.

Why would labour be no better?

Landlords have been subject to increasing regulations and requirements because tenants are now moving into longer and longer tenancies - like in the EU - so the model of tenants only being tenants for short terms before they purchase property has dwindled away.

All this has done is that the landlord with a few properties is exiting the market and the homes are being purchased by professional landlords thus concentrating ownership.

The Tories do love the renty economy.

You want to make it worthwhile for both tenants and small landlords? Build more homes - and move to a land vale tax rather than the current council tax.

 

[Justin Passing]

Renting isn't the money spinner people think it is. Check this HMO. https://www.agenthmo.co.uk/hmo-properties-for-sale/ref3569/
The yield is given as 7 percent odd. That's if you don't have a mortgage on it. They quote a mortgage rate of 2.5% - try getting that today. You'd be looking at about 5 depending..
Some costs are missing too.
I wouldn't put up with the hassle for the extra 2-3% above a mortgage.
It only works if the property value is going up as well. It was, higher than inflation for years, thank you very much.

If HMG can "just print more money" to get housing built why don't they? They could collapse the private renting sector and buy a load of properties on the cheap.

 

[ericmark]

The thing the government seems to be missing is even with a very poorly maintained house, it is still better than a tent, and we have seen people here living in tents as such a lack of rental housing.

I looked at the return when investing my money compared with renting a property, and better to simply invest.

If you look at a house at £200k and look at investing the same, your looking at hassle free income which is near the return from renting, just 5% gives over £800 a month, it will vary more than renting a property, but if you take the interest away from the rent, then there is very little left to do any repairs.

I remember when we bought our first house, in the 70's, and 16% interest on the mortgage, there is no guarantee it will not happen again, and during Colvid we saw people not paying rent and the landlord not able to evict, this is all well and good when it is taken as an average with the companies renting many homes, but when the rent is some ones only income in retirement it is not really fair. And once bitten twice shy, so now people want to invest where they can get the money when required.

 

[SirGalahad]

The problem is that any reform will be branded as anti-business by the Daily Mail and the Motties of this world will get their knickers in a twist and nothing will change.

 

[cwhaley]

I'm not saying you're inferring the following about your relative but I'll type it anyway as a general point that folk like to make ...

Of course, to appease the masses, he should have know his place and remained a machinist.

I know what you're saying... of course anybody can (and should) aim to improve their lives. That's the one side of the coin.

The other side is that we become less and less competitive as fewer people work in a skilled industry, lured by the money of buying to rent. Once of my first jobs was just an admin role in a mineral extraction company. There was real concern then that quarry work was not attracting enough young, so they had to bring retired people back.

I don't know what the realistic solution is, but I do know that the money earnt from charging rent so fragile.

 

[SirGalahad]

Renting isn't the money spinner people think it is. Check this HMO. https://www.agenthmo.co.uk/hmo-properties-for-sale/ref3569/
The yield is given as 7 percent odd. That's if you don't have a mortgage on it. They quote a mortgage rate of 2.5% - try getting that today. You'd be looking at about 5 depending..
Some costs are missing too.
I wouldn't put up with the hassle for the extra 2-3% above a mortgage.

If HMG can "just print more money" to get housing built why don't they? They could collapse the private renting sector and buy a load of properties on the cheap.

Why do you have "just print more money" in quotes? You believe it is not true?

Go look up fractional reserve banking and how the Bank of England operates.

I give up when people even after they are told cant accept the facts that Governments can and do print money as do banks.

That mortgage that is given to you isn't from peoples savings in the bank it's just created out of thin air.

I give credit to the Daily Mail et al in totally screwing up the publics understanding of the economy.

 

[SirGalahad]

I know what you're saying... of course anybody can (and should) aim to improve their lives. That's the one side of the coin.

The other side is that we become less and less competitive as fewer people work in a skilled industry, lured by the money of buying to rent. Once of my first jobs was just an admin role in a mineral extraction company. There was real concern then that quarry work was not attracting enough young, so they had to bring retired people back.

I don't know what the realistic solution is, but I do know that the money earnt from charging rent so fragile.

Look at the factors of production - land, labour, capital and entrepreneur.

Countries can grow their economy on the back of land resources for example oil, minerals etc. They can grow their economy through having investments in research resulting in new products and services- look at the impact of the PC industry and subsequent internet - technological lead impacts.

They can improve the skills set of the population.

All of this can be done by the Government if it wasn't hellbent on supporting a broken economic model.

 

[diy_fun_uk]

Why would labour be no better?

Labour would be no better at ensuring (actual) parity between landlords and tenants.

Although from a different time in Labour's history, Jeremy Corbyn and John McDonnell proposed tenants should have the right to buy the rented property ... whether the landlord wanted to sell or not!

 

[SirGalahad]

Labour would be no better at ensuring (actual) parity between landlords and tenants.

Although from a different time in Labour's history, Jeremy Corbyn and John McDonnell proposed tenants should have the right to buy the rented property ... whether the landlord wanted to sell or not!

The only solution is building more homes - look at how poor that is.

 

[Dork Lard]

All this talk of landlords having to jump through hoops to keep their tenants happy. Rules & regs only apply to those who don't simply serve an eviction notice if a tenant complains about . . . . . .

 

[algas]

Any new tenancy's that I take on from now on will have to have a guarantor so if they de fault on the rent or trash the place I will get my money somehow.

 

[Justin Passing]

All this talk of landlords having to jump through hoops to keep their tenants happy. Rules & regs only apply to those who don't simply serve an eviction notice if a tenant complains about . . . . . .

... which drags on into months, and a trashed property, if they know how.
There are calls to clamp down on Section 21's.

 

[Justin Passing]

Any new tenancy's that I take on from now on will have to have a guarantor so if they de fault on the rent or trash the place I will get my money somehow.

Standard. Condition of rental imho.
If you have professional lets the company will usually do that.

I was accused of being xxxxxist more than once. Reply is easy - "No, I just don't like you".

 

[diy_fun_uk]

All this talk of landlords having to jump through hoops to keep their tenants happy. Rules & regs only apply to those who don't simply serve an eviction notice if a tenant complains about . . . . . .

I think after some changes down south to further protect tenants, the government reiterated the process to evict in certain circumstances would still be relatively straightforward e.g. not paying rent, antisocial etc. If that's true and if that's how it plays out in reality, think yourself lucky if you're a landlord and need to evict. As I've said, evicting up here in Scotland is now nigh on impossible, regardless of what the tenant is doing.

Btw I'm not one of those landlords who thinks it should be legal to evict a tenant within days on a whim, however surely there's a balance to be struck. That balance is gone up here, gone.