100 % profit? Do not become a teacher of maths or business studies I have no mortgages But I pay council tax when property empty, landlord licence, tenant reference fees , advertising costs, repairs ,decorating and repairs In apost further back you say " many good landlords" now you say " the majority are greedy " Make your mind up . If we have invested 100 s of thousands in properties we deserve to earn from it . I am a joiner ,I will send you a chip for your shoulder to balance up the one you already have
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Problem is, Caroline is representative of the level of knowledge about private rental sector in general population.
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How polite your are Dear Tim ! My statistics are based on research over years and whether you agree or not these are the FACTS!
Sometimes, I know that the truth can hurt but you do not need to use that tone or attitude as facts and all opinions matter.
Maybe due to sarcastic comments and attitude like yours the whole buy to let market needs to change.!
I suggest you Watch this Space.
Always remember ANYTHING can happen in just ONE DAY.!
I wish you well!
You started the sartastic coments. Also for something to be 100 % profit we would have to have got the property for nothing ,spent nothing on it . and then got rent That is 100% good. Never happens. There are evening classes in B S (Business Studies)
Exactly Colin if a landlord pays say
£200.000 for a property and immediately lets it out
Until that £200.000 is returned in.rent (at £1500 a month thats 133 months or 11 years) they are in deficit thats not to mention having to redecorate (and possibly so after each tenant) any admin and insurance costs as well as general repairs and wear and tear on properties I think anyone who thinks landlords are making anything like 100% profit is seriously deluded…and no im not never have been and never will be (more than likely) a landlord just a realistic tenant
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Facts? Research over the years? Just emply words. Our profit is currently close to 20% and has never been much more than half. Other LL just break even or are in the negative. Your “research” doesn’t hold water. And your facts…are not facts at all.
I suggest you Watch this Space.
Always remember ANYTHING can happen in just ONE DAY.!
That’s the kind of “facts” that you come up with. Unreasonable and resorting to threats. A very immature and reactive person who can’t control themselves. I don’t know who will take you seriously.
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Gosh two against one … okay !
So are you stating you include the council tax, bills etc in your monthly rental for your tenants because if you do what a great landlord you are!
It pointless in this thread trying to put an honest opinion across as you are not only arrogant you are completely missing the whole point of this thread!
All I can say is, you both have big chips on your shoulders and have completely lost the core issue of the thread.
I happily know many fantastic landlord, who are mortgage free in the properties they are renting with very minimal repairs year after year as good tenants will pay for this.
Have a good day.
Thank you both for you input and my intention was not to upset or cause angry!
Thank you for your input, too. Have a nice day.
I never said the council tax is within the Rent >I said I pay it when the property is empty. IE In between tenants. It is pointless trying to put an honest opinion across as you are arrogant and missing the whole point of this thread. (Now where have I heard this before)
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I have no mortgage on my flat. There is no way I make 100% profit. I have Ground rent, service charges and landlord’s contents insurance every year as ‘fixed’ costs before I go on to things like replacements and repairs. This year I have bought my tenants a dehumidifier. There are also periodic expenses such as electrical certificates. I also have to pay tax on any profit.
I have put the rent up once in three years. It is still below market value.
This is a business, it is my investment. The deal is, I provide my tenants with a nice flat, they pay me realistic rent.
I will probably be selling up soon, especially if (when) we get a Labour Government (although the Conservatives have not been LL-friendly either). All the recent legislation favours the tenant and I am getting too old to bother with it.
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