Absolutely agree Jennifer. The trouble is they don’t want the hassle and responsibility of policing the rogue / slum landlords, so they control the situation by threatening harsh fines and prison, to enforce their idle legislation
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You need to go back to basic maths and get that chip of jealousy off your shoulder also they will pay many expenses, capital gains tax and earnings tax, Registration fee s and so on. ,No need for me to reply any more as we explain our situation but you hide your interest
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Mazty, I’ve been a tenant, a guarantor and a landlord. The first time I was a landlord was when my partner moved in with me and we didn’t want to sell his house because it was a negative enquiry. His £10,000 had gone, his mortgage was £5,000 more than the price of the house. When we finally sold it we only just broke even. Buying property is a risk, renting out property is a risk too. I’m a landlord again after investing in a property with a bequest. There is no such thing as 100% profit. Last year the property needed a new boiler £2000 +, then another £1000 to update the electrics/ get an electric safety certificate. The price of the property has increased, but we would still not get back what we paid after taking into account legal fees and the additional tax we paid to buy a second home. And we pay tax on the rental income and repair/ replace any issues the tenants raise. We even reduced the rent for our current tenants. Not all landlords are bad, but not all tenants are good.
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take no notice you will not convince him
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100% profit just means you have doubled your original investment. It really isn’t uncommon.
There are plenty of bad landlords about based on other places I have seen and views of good tenants I have. Landlords that use openrent are more likely to be better landlords as bad ones are more likely to want to have an agent between them and the tenants.
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@mazty :
I sympathize, Colin3 is trolling you. He does it a lot.
I suggest trying to ignore him.
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Sympathize with what? She /he hasn’t declared their interest or experiences.
I would suggest it’s matzy that’s doing the trolling, just to get a rise out of landlords.
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Thank you, I wish more tenants thought like you.
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You’re the kind of landlord someone would be cursed to have. You have 21 properties (apparently) and are complaining about having a housing portfolio. Your only argument now is to make ad hominem attacks on my character rather than my point.
People say millennials are entitled; boomers are the entitled plague that have shamelessly helped to destroy the UK housing market. You’re not proving a roof over anyone’s head - they’re paying you cash, it’s a business transaction, there is zero generosity on your side unless you’re reinvesting all the profit you’re making back into the property.
If you somehow managed to lose money on buying a house in the UK, that’s entirely your own fault as it’s one of the most profitable housing markets in the world due to the shortage of housing.
You reap what you sow.
Still no indication of your position in this industry… What are you hiding? I guess I was spot on before, you’re probably an HB tenant, languishing on your backside, at our expense, whilst expounding your questionable knowledge and wisdom. Most likely simply trolling.
As for being the most profitable housing market in the world, as usual you haven’t got a clue…!!
It’s odd then, if I’m a dreaded landlord, that all my properties are occupied, many over very long terms, and in a saturated letting market. There’s definitely no shortage in my area, with developers building condos and student accommodation as if there was no tomorrow. I’ve left my plot for a new 6 flat block dormant, as a result of the oversupply, in my area of the UK.
As for not providing a roof over peoples heads, of course I am. All my properties were either refurbs of neglected property or full conversions to create multiple units, properties that either didn’t exist, or were unfit for habitation before we transformed them to 1st class, safe, comfortable and sanitary housing. So how exactly do you suggest I am destroying the housing market - utter nonsense…
By the way, some of these properties would have been perfect candidates for people, with any inclination to roll up their sleeves, to get a first step on the property ladder, had they had the guts, common sense and a bit of financial acumen.
I never said I was doing this business for philanthropic reasons, nor is it relevant to the issue of providing accommodation for people who choose not to buy their own property.
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Chris dont reply any more The "man " is an idiot
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Yes Colin, I would certainly agree with that sentiment. I would have quit long before now if I hadn’t plenty of time on my hands. He’s a troll for sure, and obviously lacking any understanding of the property business - completely clueless!
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I’m sorry Marzty,
But I think you’re behaving like an entitled child.
Your anger is very misdirected. How do you come to the conclusion that private sector landlords have destroyed the housing sector? The UK has far too many homeless people for a country that one of the richest country’s in the world! Could you imagine what those numbers would be without the private sector? There has been no new local authority homes built for decades and even now the number of homes being built by the government are (at most) are less than 3000 which is no where near the amount needed and even worse they are not even building homes suitable for the disabled population! Which means I have to be even more isolated in a ground floor apartment with no garden to enjoy and even then I would not have this home if it wasn’t for the private sector! The house mes that would be ideal for me like a bungalow is just a fantasy because the government is not even prepared to pay even the average rental costs on ANY home for the private sector. So to blame private landlords for the current housing crisis is absolutely ridiculous!
I’m sure if you could afford to buy a few properties to rent out you’d be doing it which leaves me puzzled at why you would be hostile towards people who can? We have a culture in the UK where we resent people who do well in life through hard work, I accept I wasn’t always disabled and I regret not investing in property before I became disabled and I’m suffering the consequences greatly! If YOU are working (or able bodied which makes your possibilities endless) why are you not able to own your own home or several homes you could lease to people?! My point is we are all responsible for how our lives work out and our success measured by how we live our lives. Therefore to be bitter towards those people who have created a life which allows them to provide a home for not only themselves and their family but for those who can not should be something we should appreciate NOT with the level of contempt you are showing! The housing market for the rental population is in the state that it is due to the government not valuing the private sector which are saving them billions! It’s similar to the care sector they don’t value those Carers that give their whole lives to care for people 24/7 for less than £70 per week again saving the Gov billions! Not hundreds or thousands but billions! So get in to your MP tell them that it’s THEIR treatment of the private sector that is damaging your chances of a home so it’s THEM that need to rethink everything as it stands right now!
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Also Mazty. I’d be interested to know why you think landlords in any sector should not gain from providing a service? Do you work for free? Is that why you can’t buy a home or even afford to rent because you work for free? How do you eat though? Or should supermarkets and farmers be treated with the same aggression lol? Or maybe work for your benefits which is obviously below minimum wage which doesn’t allow you to cover rent etc? I’d be interested in knowing which category you fall under from the two.
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julie 1 Well said in your post. The goverment. allowed thousands of council houses to be sold off at great discounts… and we have never recovered.
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This is what’s wrong with our society, it’s full of misplaced anger on things that affects everyone’s lives, such as policing, not enough police then it’s the police themselves to blame, when it’s actually the government that decides how many they need so cut 20,000 and the same principle is the reason for the state of the public and private rental sector and it’s not just the current government it’s been destroyed by past government’. So when I hear (or read in this case) people blaming anyone and everyone with such anger I get so frustrated because if people just educated them selves with the facts and directed their upset to the right people (government) we could collectively make progress but alas the majority of people are like Mazty and that’s the reason why this country is just becoming a lost Kingdom rather than the United Kingdom that was the envy of the world just a few decades ago, and I don’t think we will ever be Great Britain again!
I’m sorry I’m ranting again but it really annoys me when people like Mazty are so disrespectful and aggressive towards the private landlords when they are actually the ones keeping people in homes, with no support or appreciation from the government!
What’s the alternative Mazty? What is the solution???
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“ If you somehow managed to lose money on buying a house in the UK, that’s entirely your own fault as it’s one of the most profitable housing markets in the world due to the shortage of housing.”
You clearly weren’t alive or paying attention to the economic situation in the UK in the early 1990s. Property prices rocketed, then crashed, mortgage rates went up to 15%. Basically you have no idea what you are talking about, as you have clearly demonstrated with this response.
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Most landlords! How many have you had experience with?
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Don’t expect a meaningful or intelligent reply. All we get from mazty is pure vitriol. Obviously a bitter, misguided individual.
Pointless trying to engage in a meaningful debate with someone who only has a blinkered vision and an uneducated view on the subject.
I only wish more people had the same attitude as you to the private rental sector and the governments destructive approach in its legislation. Thank you for your support.
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