There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
There has always been good & bad landlords but as personal wealth seems to have become so important to people, I suspect the number of landlords driven by profit has increased in recent years.
My son & his mate spent over a year trying to rent a property but each time they found somewhere they liked & could afford, they were gazumped by other tenants. They finally secured a place in February but only after they agreed to pay £150.00 extra each month.
Presumably the advertised rent is considered fair & is sufficient to net landlords a reasonable profit but rather than offer the property to the first suitable tenant(s) they are more than happy to sit back & wait for them to outbid each other regardless of the stress & financial pressure this causes. This smacks of profiteering.
My son & his mate pay £2,300.00 a month for a 2 bed apartment in the Elephant & Castle (nothing spectacular). They also pay for utilities & Council Tax. Their rent comes up for review in February & no doubt the additional £150.00 will count for nothing & the rent will increase further. They have very little wriggle room financially & may well have to move out.
On a different note & following on from blackpool72's earlier post, I have been involved in the collection of Local Government Revenue for most of my working life, before retiring in March. My last 6 months were spent working for an authority in Central London. There has been massive development in the area resulting in thousands of privately owned apartments & most of my time was spent updating changes in tenants.
A significant number of these properties had overseas owners. This included many from China & their tenants were almost exclusively overseas students. This means there is no Council Tax payable, as properties occupied by full time students are exempt. Therefore, the Council receives no income towards services from these properties, while the landlords simply sit back & wait for the rent to arrive via their agents. This situation exists in most Local Authorities but especially so in areas that have undergone such development over the last 10 to 15 years.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
We make about 3.5%. Can I come back in now?
That's better than we do!
The buying market in London is still fucked. My partner and I are seriously considering leaving the place just to be able to buy property. We COULD buy somewhere here, but in all likelihood it'd be a tiny, unpleasant and nowhere near as good a location as we can still (just about) get via renting
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
We make about 3.5%. Can I come back in now?
That's better than we do!
Don't like landlords? Just be homeless and die on the street for your principles.
£2,300 for a 2 bed flat in Elephant and Castle??!! That’s fucking insane, apart from anything else, the place is a toilet. Is that the going rate for a place in London?
We nearly bought a BTL a few years ago, mainly for when our daughter grew up but decided against it in the end.
There has always been good & bad landlords but as personal wealth seems to have become so important to people, I suspect the number of landlords driven by profit has increased in recent years.
My son & his mate spent over a year trying to rent a property but each time they found somewhere they liked & could afford, they were gazumped by other tenants. They finally secured a place in February but only after they agreed to pay £150.00 extra each month.
Presumably the advertised rent is considered fair & is sufficient to net landlords a reasonable profit but rather than offer the property to the first suitable tenant(s) they are more than happy to sit back & wait for them to outbid each other regardless of the stress & financial pressure this causes. This smacks of profiteering.
My son & his mate pay £2,300.00 a month for a 2 bed apartment in the Elephant & Castle (nothing spectacular). They also pay for utilities & Council Tax. Their rent comes up for review in February & no doubt the additional £150.00 will count for nothing & the rent will increase further. They have very little wriggle room financially & may well have to move out.
On a different note & following on from blackpool72's earlier post, I have been involved in the collection of Local Government Revenue for most of my working life, before retiring in March. My last 6 months were spent working for an authority in Central London. There has been massive development in the area resulting in thousands of privately owned apartments & most of my time was spent updating changes in tenants.
A significant number of these properties had overseas owners. This included many from China & their tenants were almost exclusively overseas students. This means there is no Council Tax payable, as properties occupied by full time students are exempt. Therefore, the Council receives no income towards services from these properties, while the landlords simply sit back & wait for the rent to arrive via their agents. This situation exists in most Local Authorities but especially so in areas that have undergone such development over the last 10 to 15 years.
If you were selling a house and someone offered the asking price and 5 others offered above, would you sell to the person who offered what must have been an acceptable amount to you? Or would you (all parties being equal) sell to one of the higher bidders? It's common sense isn't it?
I don't know your sons position, but does he need to be renting in such an expensive area? Could he not rent further out and probably half his rent? With the difference save for a deposit on his own place? I have this conversation with a couple of the grads at work, they rent a room in notting hill, £1450 a month each!
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
We make about 3.5%. Can I come back in now?
That's better than we do!
“If you don’t like landlords become homeless”. Another to paste into the book of “completely unhinged stuff I’ve read on charlton life”
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
"I can't buy a place because of greedy landlords" "Why don't you buy your own place and see what it's like and stop complaining".
And they wonder why we think we're not being listened to.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
We make about 3.5%. Can I come back in now?
That's better than we do!
“If you don’t like landlords become homeless”. Another to paste into the book of “completely unhinged stuff I’ve read on charlton life”
Except I didn't say that did I, again you like to make up stuff. I simply said if you don't like them, think they are the devil reincarnated don't use them. Take responsibility yourself, take the risks yourself, do whatever you need to do to get away from these pesky landlords. Or are you actually quite happy to pass on the risk to someone else?
I'm sure if you put your mind to it you can save a deposit and buy a property yourself,
“ The meaning of GREED is a selfish and excessive desire for more of something (such as money) than is needed.”
many, many landlords won’t be amassing excessive wealth at all. It’s just a ridiculous blanket statement.
Why do people become landlords?
To make money, the same reason we all take jobs and make any other investments, that doesn’t necessarily mean it’s a desire for an EXCESSIVE amount of money.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
We make about 3.5%. Can I come back in now?
That's better than we do!
“If you don’t like landlords become homeless”. Another to paste into the book of “completely unhinged stuff I’ve read on charlton life”
Except I didn't say that did I, again you like to make up stuff. I simply said if you don't like them, think they are the devil reincarnated don't use them. Take responsibility yourself, take the risks yourself, do whatever you need to do to get away from these pesky landlords. Or are you actually quite happy to pass on the risk to someone else?
I'm sure if you put your mind to it you can save a deposit and buy a property yourself,
So if I don't use landlords and can't afford to buy, what do I do? The only option is to become homeless.
“ The meaning of GREED is a selfish and excessive desire for more of something (such as money) than is needed.”
many, many landlords won’t be amassing excessive wealth at all. It’s just a ridiculous blanket statement.
Why do people become landlords?
To make money, the same reason we all take jobs and make any other investments, that doesn’t necessarily mean it’s a desire for an EXCESSIVE amount of money.
To buy a property as BTL you need a large deposit, quite a lot of money, actually. I'd argue it's an excessive desire for money. And exactly, it is an investment (this is what i've been saying this entire time), it's not a service.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
We make about 3.5%. Can I come back in now?
That's better than we do!
“If you don’t like landlords become homeless”. Another to paste into the book of “completely unhinged stuff I’ve read on charlton life”
Except I didn't say that did I, again you like to make up stuff. I simply said if you don't like them, think they are the devil reincarnated don't use them. Take responsibility yourself, take the risks yourself, do whatever you need to do to get away from these pesky landlords. Or are you actually quite happy to pass on the risk to someone else?
I'm sure if you put your mind to it you can save a deposit and buy a property yourself,
So if I don't use landlords and can't afford to buy, what do I do? The only option is to become homeless.
I don't know your personal circumstances, but generally where there's a will there's a way.
What can you cut back on expenditure wise? Can you for now rent somewhere cheaper? Take a second job, change job, move to a different part of the country where the income multiplier is not like London/South east.
There will be lots of options if you really want to be a home owner and get away from greedy landlords.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
We make about 3.5%. Can I come back in now?
That's better than we do!
“If you don’t like landlords become homeless”. Another to paste into the book of “completely unhinged stuff I’ve read on charlton life”
Except I didn't say that did I, again you like to make up stuff. I simply said if you don't like them, think they are the devil reincarnated don't use them. Take responsibility yourself, take the risks yourself, do whatever you need to do to get away from these pesky landlords. Or are you actually quite happy to pass on the risk to someone else?
I'm sure if you put your mind to it you can save a deposit and buy a property yourself,
So if I don't use landlords and can't afford to buy, what do I do? The only option is to become homeless.
I don't know your personal circumstances, but generally where there's a will there's a way.
What can you cut back on expenditure wise? Can you for now rent somewhere cheaper? Take a second job, change job, move to a different part of the country where the income multiplier is not like London/South east.
There will be lots of options if you really want to be a home owner and get away from greedy landlords.
Ok, I'll will myself shelter without becoming homeless or renting or home owning, why haven't we all thought of that?!
Sometimes I think there are people on here who live on a completely different planet.
Why can’t it be a service and an investment? You know, like opening a supermarket?
I certainly see my landlord as someone supplying a service i desperately need, despite having an apartment my sons owns sitting empty.
It could just as easily be a desire for an income, my landlord got this apartment for free, like many, many landlords here. Is asking for a market rate greed, or just common sense?
Not everything is as black and white as you seem to think.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
We make about 3.5%. Can I come back in now?
That's better than we do!
“If you don’t like landlords become homeless”. Another to paste into the book of “completely unhinged stuff I’ve read on charlton life”
Except I didn't say that did I, again you like to make up stuff. I simply said if you don't like them, think they are the devil reincarnated don't use them. Take responsibility yourself, take the risks yourself, do whatever you need to do to get away from these pesky landlords. Or are you actually quite happy to pass on the risk to someone else?
I'm sure if you put your mind to it you can save a deposit and buy a property yourself,
So if I don't use landlords and can't afford to buy, what do I do? The only option is to become homeless.
I have a son and a daughter who are fairly close to you in age. After years of haggling they both managed to get on the council waiting list. Both now rent that way and it's about half the price of private rental. Have you looked into doing this.?
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
We make about 3.5%. Can I come back in now?
That's better than we do!
“If you don’t like landlords become homeless”. Another to paste into the book of “completely unhinged stuff I’ve read on charlton life”
Except I didn't say that did I, again you like to make up stuff. I simply said if you don't like them, think they are the devil reincarnated don't use them. Take responsibility yourself, take the risks yourself, do whatever you need to do to get away from these pesky landlords. Or are you actually quite happy to pass on the risk to someone else?
I'm sure if you put your mind to it you can save a deposit and buy a property yourself,
So if I don't use landlords and can't afford to buy, what do I do? The only option is to become homeless.
I don't know your personal circumstances, but generally where there's a will there's a way.
What can you cut back on expenditure wise? Can you for now rent somewhere cheaper? Take a second job, change job, move to a different part of the country where the income multiplier is not like London/South east.
There will be lots of options if you really want to be a home owner and get away from greedy landlords.
Ok, I'll will myself shelter without becoming homeless or renting or home owning, why haven't we all thought of that?!
Sometimes I think there are people on here who live on a completely different planet.
So what about a second job etc? Work in a bar 4/5 nights a week and that alone within 2 years will give you the deposit on a property.
It may surprise you (like it does my kids) that all of us were young once and struggled from time to time to one degree or another, I really enjoyed my time living in a bedsit in Bethnal Green (when BG was a sh1te hole) eating hula hoop sandwiches but that's what saved me from being homeless. I made a lot of sacrifices to get out of there, sometimes you have just got to suck it up and do what you need to do.
If anyone is struggling you have two options, cut expenditure or increase income, the easiest way to increase income is a second job, something many of us have done in the past to keep the wolf from the door.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
We make about 3.5%. Can I come back in now?
That's better than we do!
“If you don’t like landlords become homeless”. Another to paste into the book of “completely unhinged stuff I’ve read on charlton life”
Except I didn't say that did I, again you like to make up stuff. I simply said if you don't like them, think they are the devil reincarnated don't use them. Take responsibility yourself, take the risks yourself, do whatever you need to do to get away from these pesky landlords. Or are you actually quite happy to pass on the risk to someone else?
I'm sure if you put your mind to it you can save a deposit and buy a property yourself,
So if I don't use landlords and can't afford to buy, what do I do? The only option is to become homeless.
I don't know your personal circumstances, but generally where there's a will there's a way.
What can you cut back on expenditure wise? Can you for now rent somewhere cheaper? Take a second job, change job, move to a different part of the country where the income multiplier is not like London/South east.
There will be lots of options if you really want to be a home owner and get away from greedy landlords.
Ok, I'll will myself shelter without becoming homeless or renting or home owning, why haven't we all thought of that?!
Sometimes I think there are people on here who live on a completely different planet.
So what about a second job etc? Work in a bar 4/5 nights a week and that alone within 2 years will give you the deposit on a property.
It may surprise you (like it does my kids) that all of us were young once and struggled from time to time to one degree or another, I really enjoyed my time living in a bedsit in Bethnal Green (when BG was a sh1te hole) eating hula hoop sandwiches but that's what saved me from being homeless. I made a lot of sacrifices to get out of there, sometimes you have just got to suck it up and do what you need to do.
If anyone is struggling you have two options, cut expenditure or increase income, the easiest way to increase income is a second job, something many of us have done in the past to keep the wolf from the door.
I can't get a second job if i'm homeless, though. I'm not sure if I tell them I've "willed" some shelter they'll accept that.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
We make about 3.5%. Can I come back in now?
That's better than we do!
“If you don’t like landlords become homeless”. Another to paste into the book of “completely unhinged stuff I’ve read on charlton life”
Except I didn't say that did I, again you like to make up stuff. I simply said if you don't like them, think they are the devil reincarnated don't use them. Take responsibility yourself, take the risks yourself, do whatever you need to do to get away from these pesky landlords. Or are you actually quite happy to pass on the risk to someone else?
I'm sure if you put your mind to it you can save a deposit and buy a property yourself,
So if I don't use landlords and can't afford to buy, what do I do? The only option is to become homeless.
I have a son and a daughter who are fairly close to you in age. After years of haggling they both managed to get on the council waiting list. Both now rent that way and it's about half the price of private rental. Have you looked into doing this.?
So after a few more years of paying private landlords this could be me, thanks for the tip!
I don't get how putting your place on the market for x amount, somebody agrees to pay it, but then others come in with higher offers, so going with those higher offers would be 'common sense'. Why is it common sense to further degrade the social contract we're all obliged to live by in order to gain personally? It might be maximising whatever, or what did they use to call it at Charlton, 'sweating the assets (?)', or grabbing as much as you can, but from my personal perspective I certainly would not describe it as 'common sense'. I used to think the term 'common sense' was quite a friendly one, going alongside the gentle 'don't be daft' exhortation. However used in terms of getting as much money as you can, it seems really quite brutal.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
We make about 3.5%. Can I come back in now?
That's better than we do!
“If you don’t like landlords become homeless”. Another to paste into the book of “completely unhinged stuff I’ve read on charlton life”
Except I didn't say that did I, again you like to make up stuff. I simply said if you don't like them, think they are the devil reincarnated don't use them. Take responsibility yourself, take the risks yourself, do whatever you need to do to get away from these pesky landlords. Or are you actually quite happy to pass on the risk to someone else?
I'm sure if you put your mind to it you can save a deposit and buy a property yourself,
So if I don't use landlords and can't afford to buy, what do I do? The only option is to become homeless.
I don't know your personal circumstances, but generally where there's a will there's a way.
What can you cut back on expenditure wise? Can you for now rent somewhere cheaper? Take a second job, change job, move to a different part of the country where the income multiplier is not like London/South east.
There will be lots of options if you really want to be a home owner and get away from greedy landlords.
Ok, I'll will myself shelter without becoming homeless or renting or home owning, why haven't we all thought of that?!
Sometimes I think there are people on here who live on a completely different planet.
So what about a second job etc? Work in a bar 4/5 nights a week and that alone within 2 years will give you the deposit on a property.
It may surprise you (like it does my kids) that all of us were young once and struggled from time to time to one degree or another, I really enjoyed my time living in a bedsit in Bethnal Green (when BG was a sh1te hole) eating hula hoop sandwiches but that's what saved me from being homeless. I made a lot of sacrifices to get out of there, sometimes you have just got to suck it up and do what you need to do.
If anyone is struggling you have two options, cut expenditure or increase income, the easiest way to increase income is a second job, something many of us have done in the past to keep the wolf from the door.
I can't get a second job if i'm homeless, though. I'm not sure if I tell them I've "willed" some shelter they'll accept that.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
We make about 3.5%. Can I come back in now?
That's better than we do!
“If you don’t like landlords become homeless”. Another to paste into the book of “completely unhinged stuff I’ve read on charlton life”
Except I didn't say that did I, again you like to make up stuff. I simply said if you don't like them, think they are the devil reincarnated don't use them. Take responsibility yourself, take the risks yourself, do whatever you need to do to get away from these pesky landlords. Or are you actually quite happy to pass on the risk to someone else?
I'm sure if you put your mind to it you can save a deposit and buy a property yourself,
So if I don't use landlords and can't afford to buy, what do I do? The only option is to become homeless.
I have a son and a daughter who are fairly close to you in age. After years of haggling they both managed to get on the council waiting list. Both now rent that way and it's about half the price of private rental. Have you looked into doing this.?
So after a few more years of paying private landlords this could be me, thanks for the tip!
It's not easy. I have had my son and his girlfriend live with me for about 18 months before they got offered a one bedroom flat. My daughter and her boyfriend and their two kids lived with me for 2 years before being offered a house. My son and his girlfriend had 2 kids while living in a one bedroom flat and it took 3 years before getting offered a house. My point is that although it's a struggle to get on the housing list it's worth it in the end as the rent is as I said about half the price of renting private. Just saying.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
We make about 3.5%. Can I come back in now?
I take it the 3.5% would be against the loan if you have one? Assuming that and also assuming the property is in good order and in a saleable area, would the property not also appreciate in value at market rates? Assuming a fair bit there I know but that's basically how so many have become landlords with multiple properties, (occasional Homes Under the Hammer viewer) . Its not much of risk if you can spread that risk about in a multiple property portfolio. That increase in property value is or was a key driver that has reduced the available properties to first time buyers and the less well off. Not having a dig at you but that is a win win for landlords especially in the south east and for the renters the opposite applies.
A person in china coming out to bat for landlords. I might just be done, the irony meter is shot to pieces.
Huge amounts of the Chinese population rely on landlords, especially those that move around for work, I’m not sure why living here would automatically make anyone anti landlord?
I’m also not batting for anyone, I’m just disputing that every single landlord is automatically greedy. Out to make money, absolutely, that’s just not the same thing.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
We make about 3.5%. Can I come back in now?
That's better than we do!
“If you don’t like landlords become homeless”. Another to paste into the book of “completely unhinged stuff I’ve read on charlton life”
Except I didn't say that did I, again you like to make up stuff. I simply said if you don't like them, think they are the devil reincarnated don't use them. Take responsibility yourself, take the risks yourself, do whatever you need to do to get away from these pesky landlords. Or are you actually quite happy to pass on the risk to someone else?
I'm sure if you put your mind to it you can save a deposit and buy a property yourself,
So if I don't use landlords and can't afford to buy, what do I do? The only option is to become homeless.
I don't know your personal circumstances, but generally where there's a will there's a way.
What can you cut back on expenditure wise? Can you for now rent somewhere cheaper? Take a second job, change job, move to a different part of the country where the income multiplier is not like London/South east.
There will be lots of options if you really want to be a home owner and get away from greedy landlords.
Ok, I'll will myself shelter without becoming homeless or renting or home owning, why haven't we all thought of that?!
Sometimes I think there are people on here who live on a completely different planet.
So what about a second job etc? Work in a bar 4/5 nights a week and that alone within 2 years will give you the deposit on a property.
It may surprise you (like it does my kids) that all of us were young once and struggled from time to time to one degree or another, I really enjoyed my time living in a bedsit in Bethnal Green (when BG was a sh1te hole) eating hula hoop sandwiches but that's what saved me from being homeless. I made a lot of sacrifices to get out of there, sometimes you have just got to suck it up and do what you need to do.
If anyone is struggling you have two options, cut expenditure or increase income, the easiest way to increase income is a second job, something many of us have done in the past to keep the wolf from the door.
I can't get a second job if i'm homeless, though. I'm not sure if I tell them I've "willed" some shelter they'll accept that.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
There's clearly a number on here who are anti Landlord, by some bizarre twist some of those use the services of a Landlord. Go figure.
You mean to tell me some people on this thread aren't a home owner and ARENT homeless?! WHAT A SCOOP!
I'd suggest if you believe Landlords are greedy good for nothings you stop making use of the service they provide you. Go and buy your own place, take all the risk yourself and stop putting the responsibility at someone else's door and then moan about them.
The landlords buying up all the properties to rent is precisely why people can't just 'go out and buy your own place'. What an idiotic statement.
In case you hadn't noticed many are selling up, plenty of buying opportunities right now. There's less than 5 million private rentals in the UK and shrinking fast, hence why rents are in part increasing, supply and demand.
If people are so anti Landlords then don't use them, it's quite simple.
Seriously. What's the matter with some people? I'm 49 with no pension. So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
So all rental properties need to be mortgage free - that's going to work, NOT! Who decides a fair price? They tried something in Scotland that just made it worse for tenants. A fair price is market price.
You do realise a lot of businesses you buy from take out loans and by doing business with them you are paying off their mortgage loan
Right, I agree. But don’t become dewy eyed when the market turns on landlords who’ve overleveraged themselves and expect tenants to pick up the tab. Having your cake and eating it comes to mind - something for nothing.
Who is going 'dewy-eyed' about anything?. If you mean by 'overleveraged themselves' is this exactly the same as many owner/occupiers due to amongst other things, the worldwide economy? Don't be surprised when rents go up - and tenants have no choice about it and some of the reasons rents have gone up because the government has passed more costs on to the landlords.
And then the landlord passes it on to the tenant? What kind hearted people they are. If you can't afford to own a property and rent it out, sell it. It's quite simple - it's the market.
Many more would have to sell up than currently are, which would be even worse for tenants - I'm not surprised you aren't able to purchase your own place if you don't understand the fundamentals even if you must have predicted the end in the recent low interest period that so many others didn't! I know lots of people in their 20s buying a property
I don't know why you simply don't understand the rules of supply and demand apply to both tenants and landlords. If scores of landlords sell their properties then supply outreaches demand, prices go down, tenants who want to buy that otherwise couldn't afford to buy can now afford to buy - the whole social contract begins to work again. There is obviously the problem of foreign "investors" and domestic investo- i mean landlords then hoovering up the cheaper properties - but that's where maybe a fat stamp duty on a second property could be useful to then make it unprofitable for greedy landlords and investors. This extra stamp duty could then be funelled into building social housing. I know people who've purchased their own property, but they're either doing extremely well in life or have moved to areas that bring their commute up over an hour or more. As many have said on this thread, the current system is unsustainable and delaying the inevitable (prices dropping) is just roping more and more people of my age into the hellscape of negative equity in the future.
I'm getting a vibe that kentaddick is a tenant, who doesn't earn enough money to buy his own property.
lots of people are in that position - that is not humorous - it's just unfortunately true.
The thing that sticks in my craw a little as someone in that position - I can just about afford to pay the monthly mortgage for the place I live in, as a renter - and in fact that is what I am doing - but apparently i'm not trusted enough to get a mortgage - but I can pay someone elses off and nobody sees the issue.
It's a bit sick tbh - the system seems kinda set up against me.
edit for clarity - 9 years of renting thus far. Never missed a single rent payment. seen my rent rise by 25 -50 quid a month each year in that time, (until recently) for a one bed flat. After the latest rise i requested to hand in my notice and planned to go back to parents - my (decent) landlord called me (first time in nine years i've even had to speak to the guy) and asked me what he needed to do to keep me in the place.
Yeah it was clearly meant as some kind of dig, but the majority of people of my generation (>50%) are now renters, it just comes across as hopelessly out of touch.
One of the craziest threads i've seen. Rents are high because are willing to pay them, people can't get on the ladder because they spend too much time on Charlton Life, buying property is like investing in crypto. WTF? Bet there's other gems that i've missed.
It's a bit weird, I'm still yet to be told why some one would become a landlord other than accumulating wealth off the back of some one else (their tenant).
I simply don't understand how you cannot understand the situation and think that landlords selling up means rents will go down. It's what is happening now and rents are definitely not coming down. If there weren't landlords, there wouldn't be properties to rent. Most business 'accumulate wealth off the back of some one else'!
The idea is not to have rents go down, but prices of properties to go down. Heaven forbid it'll be more affordable to buy your own property than live in some one else's. If there were no longer any private landlords, then i guess the state would have to look at providing social housing, again - heaven forbid..!
Most businesses don't trade on a fundamental human need that then soaks up >50% of their customers wages. Although thinking about it in these terms sums up the attitude of landlords, it's just a business to suck up some wealth.
This is the point most people are missing. You're not trading crypto.
I've spent the last day or so being told that being a landlord has nothing to do with greed and sponging wealth off people, and now i'm told it is and it's fine because "it's a business".
Because you think it is greed but it isn't. No one is 'sponging'. You are entitled to your opinion but it doesn't make you correct. Am off to do some more work now
I'm going to ask this for what feels like the tenth time, how is it not greed? How is it not sponging when you're contributing nothing to the productivity of the country? and, something i've definitely asked before - Why do people become landlords in the first place?
Do you hold supermarkets in the same contempt?
It's pretty clear when you buy food you're paying people for their productivity. You pay the supermarket for your food and they pay their suppliers, farmers etc. There's a much wider economy around it which helps grease the wheels of the country's economy. What productivity is a landlord contributing?
The landlord is proving access to a home which you can't or don't wish to buy for the long term.
It is a reasonable that the landlord provides that 'service' and makes a profit as he carries all the risk - mortgage costs, no tenants , bad tenants, maintenance etc.
All we are really discussing is the market rate of rents which has grown hugely & to a level that (at least in London) isn't sustainable for many.
We either rely on market dynamics of supply & demand to push rents back down or some better legislation designed that makes the cost 'fairer'. Its not wrong to be a landlord per se.
I'm not saying it is, but lets be realistic, is it morally right to have an investment that is fundamental to people's living whilst that is completely out the reach of their tenants?
Change tenants for customers and the same point applies to a supermarket, they’re profiting from the ultimate fundamental things in life.
They could service all their suppliers at cost, if it wasn’t for pure greed, apparently.
I don't get the analogy. There are landlords who own a property outright so only have to pay utility bills and upkeep, whereas farmers work on the farm and have to keep buying things like livestock to keep the farms running. Furthermore people aren't paying half of their wages or more at the supermarket each week.
Because both are making a profit from providing an essential service, so surely both must be greedy? Why is ok for a supermarket to make a profit, but a landlord not?
Profit margins at a supermarket are around 1-3%. If landlords were only making that the situation would be far different.
We make about 3.5%. Can I come back in now?
That's better than we do!
“If you don’t like landlords become homeless”. Another to paste into the book of “completely unhinged stuff I’ve read on charlton life”
Except I didn't say that did I, again you like to make up stuff. I simply said if you don't like them, think they are the devil reincarnated don't use them. Take responsibility yourself, take the risks yourself, do whatever you need to do to get away from these pesky landlords. Or are you actually quite happy to pass on the risk to someone else?
I'm sure if you put your mind to it you can save a deposit and buy a property yourself,
So if I don't use landlords and can't afford to buy, what do I do? The only option is to become homeless.
I have a son and a daughter who are fairly close to you in age. After years of haggling they both managed to get on the council waiting list. Both now rent that way and it's about half the price of private rental. Have you looked into doing this.?
So after a few more years of paying private landlords this could be me, thanks for the tip!
But you aren't homeless are you, you're renting from a greedy pesky landlord. I'll ask again, what are you going to do to get away from the pesky greedy landlords?
EDIT, don't know where you live but I've just looked and there are 84 casual/part time bar staff roles in bromley ranging from £10.50 to £13 an hour. 20 hours a week would be around £13k per annum, 2 years of that and there is your deposit.
Comments
There has always been good & bad landlords but as personal wealth seems to have become so important to people, I suspect the number of landlords driven by profit has increased in recent years.
My son & his mate spent over a year trying to rent a property but each time they found somewhere they liked & could afford, they were gazumped by other tenants. They finally secured a place in February but only after they agreed to pay £150.00 extra each month.
Presumably the advertised rent is considered fair & is sufficient to net landlords a reasonable profit but rather than offer the property to the first suitable tenant(s) they are more than happy to sit back & wait for them to outbid each other regardless of the stress & financial pressure this causes. This smacks of profiteering.
My son & his mate pay £2,300.00 a month for a 2 bed apartment in the Elephant & Castle (nothing spectacular). They also pay for utilities & Council Tax. Their rent comes up for review in February & no doubt the additional £150.00 will count for nothing & the rent will increase further. They have very little wriggle room financially & may well have to move out.
On a different note & following on from blackpool72's earlier post, I have been involved in the collection of Local Government Revenue for most of my working life, before retiring in March. My last 6 months were spent working for an authority in Central London. There has been massive development in the area resulting in thousands of privately owned apartments & most of my time was spent updating changes in tenants.
A significant number of these properties had overseas owners. This included many from China & their tenants were almost exclusively overseas students. This means there is no Council Tax payable, as properties occupied by full time students are exempt. Therefore, the Council receives no income towards services from these properties, while the landlords simply sit back & wait for the rent to arrive via their agents. This situation exists in most Local Authorities but especially so in areas that have undergone such development over the last 10 to 15 years.
If people are so anti Landlords then don't use them, it's quite simple.
That's better than we do!
I don't know your sons position, but does he need to be renting in such an expensive area? Could he not rent further out and probably half his rent? With the difference save for a deposit on his own place? I have this conversation with a couple of the grads at work, they rent a room in notting hill, £1450 a month each!
"Why don't you buy your own place and see what it's like and stop complaining".
And they wonder why we think we're not being listened to.
I'm sure if you put your mind to it you can save a deposit and buy a property yourself,
What can you cut back on expenditure wise? Can you for now rent somewhere cheaper? Take a second job, change job, move to a different part of the country where the income multiplier is not like London/South east.
There will be lots of options if you really want to be a home owner and get away from greedy landlords.
I certainly see my landlord as someone supplying a service i desperately need, despite having an apartment my sons owns sitting empty.
After years of haggling they both managed to get on the council waiting list.
Both now rent that way and it's about half the price of private rental.
Have you looked into doing this.?
It may surprise you (like it does my kids) that all of us were young once and struggled from time to time to one degree or another, I really enjoyed my time living in a bedsit in Bethnal Green (when BG was a sh1te hole) eating hula hoop sandwiches but that's what saved me from being homeless. I made a lot of sacrifices to get out of there, sometimes you have just got to suck it up and do what you need to do.
If anyone is struggling you have two options, cut expenditure or increase income, the easiest way to increase income is a second job, something many of us have done in the past to keep the wolf from the door.
So after a few more years of paying private landlords this could be me, thanks for the tip!
Why is it common sense to further degrade the social contract we're all obliged to live by in order to gain personally?
It might be maximising whatever, or what did they use to call it at Charlton, 'sweating the assets (?)', or grabbing as much as you can, but from my personal perspective I certainly would not describe it as 'common sense'.
I used to think the term 'common sense' was quite a friendly one, going alongside the gentle 'don't be daft' exhortation. However used in terms of getting as much money as you can, it seems really quite brutal.
I have had my son and his girlfriend live with me for about 18 months before they got offered a one bedroom flat.
My daughter and her boyfriend and their two kids lived with me for 2 years before being offered a house.
My son and his girlfriend had 2 kids while living in a one bedroom flat and it took 3 years before getting offered a house.
My point is that although it's a struggle to get on the housing list it's worth it in the end as the rent is as I said about half the price of renting private.
Just saying.
Not having a dig at you but that is a win win for landlords especially in the south east and for the renters the opposite applies.
EDIT, don't know where you live but I've just looked and there are 84 casual/part time bar staff roles in bromley ranging from £10.50 to £13 an hour. 20 hours a week would be around £13k per annum, 2 years of that and there is your deposit.