Landlord? Giving up ,had enough.

Discussion in 'Just Talk' started by billfromarran, Aug 29, 2022.

  1. billfromarran

    billfromarran Active Member

    House went on the market today, home report was very positive,asking price is way above what I had imagined,so here's hoping for a good outcome.
    Will be glad to see the back of it.
     
  2. billfromarran

    billfromarran Active Member

    And finally..........the house has been sold, dough in the bank,new owners will have to deal with the knocks on the door from creditors. We did forewarn them.
    Even better news, we got well above even the asking price, so I can now afford a new boiler suit.
     
  3. Kingscurate

    Kingscurate Active Member

    Bit late, energy bills wont get paid either by bad tenants. If you got kids, they cant be cut off snd they know that. House near me has had upstairs windows wide open all winter, so if they got heating on and heat is just being wasted. You and I wouldnt do that, but uf your you dont intend paying the bill…
     
  4. exbg

    exbg Screwfix Select



    The problem with the definition if “return” is that the LL expects the tenant to pay the LL’s mortgage, expenses and a bit on top.
    The fact that the tenant is enabling the LL to enjoy long r term property value appreciation is conveniently ignored
     
    Kingscurate likes this.
  5. quasar9

    quasar9 Screwfix Select

    I understand what you are saying and even agree with the sentiment behind it but from time immemorial, it’s the capital outlay or the ability to raise such capital thats the key parameter in return on investment. Money has always chased the highest ROI, the only moderator is the risk of loosing the capital invested. If raising money to buy a property was easy then there would be no LL.

    Indeed the LL is benefiting from the appreciation of the property value, but this can only be accessed if he/she sells up. Then there is capital gains tax plus cost of selling.

    there is plenty of data that’s now pointing to the fact that being a LL is tricky and returns are not great. Money is chasing alternate investment which may make renting even more difficult than it is at the moment.

    I am not a LL nor have the inclination of ever becoming one, leaving aside the issue of raising the capital for the moment.
     
  6. rogerk101

    rogerk101 Screwfix Select

    I am a landlord, and if I were wanting to become a landlord for the first time, there is no way I'd bother.

    Every year that has gone by since I first became a landlord 10 years ago, the government has made things worse for landlords ... whether it's removing the ability to use the interest as a tax deduction, the requirement for EICR every 5 years, the requirement for gas safety certificate every year, the requirement to pay the Oxford City Council a landlord fee (for absolutely no added value to the landlord or the tenant) ... the list goes on.

    Poor little old landlord I hear many of you saying, but the huge number of landlords that have left the business and invested elsewhere with zero fuss and similar or better returns has left a massive shortage of rental properties. Add to that the fact that many landlords have turned their properties into Airbnb dwellings, and the South East of the UK is now so short of rental properties that rents are rising far faster than inflation. I know several youngsters in my sons' circles who offer well above the advertised rental price, just to secure themselves a chance if getting it.

    What's not good for landlords is definitely not good for tenants. Thump the landlords and all you end up doing is thumping the tenants even more.

    Yet another thing that the UK is getting horribly wrong and for sure Labour would make it even worse.

    Many would say it's the law of unforeseen consequences, but just how dim do you have to be not to see that the ones with the rawest deal are the tenants.
     
  7. dubsie

    dubsie Active Member

    I wouldn't be a landlord too much hassle. But don't count on the baliffs recovering anything if she's got nothing then they won't collect anything and what ever they collect will get nothing in auction. So my advice is simply not bother getting tied up with all that.

    But owning property can produce large returns and like any business it's knowing how to run it. Many think it's easy but there's a knack to it just like anything else .....like being a plumber....you might be an amazing plumber but if your **** at the business end then you'll go bust....hence why so many simply give up and get a job..
     
  8. quasar9

    quasar9 Screwfix Select

    There has always been a high bar to entry to becoming a LL (unless you are an accidental LL, having inherited property) in terms of capital needed but with current legislation the bar is even higher. A LL with a single or few property will probably pay full whack for maintenance and upgrades unless he/she is in a building trade and multi disciplined. In contrast, a large property rental company can have contracted maintenance or even have a team directly employed reducing vastly maintenance cost. . I know Lloyds bank was starting up such a company in Peterborough, having purchased an entire development of a few hundred flats.
     

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