Landlord and proud?

Hi, I have been a landlord for nearly two decades and it has been more demanding than my corporate job.

For much of my working life, I worked for corporates ending my career at one of the world’s top insurance companies and was credited with their highest internal awards for making savings of tens of millions; but found myself sacked 15 years ago after reporting what appeared to be fraud at director level. I had a two year legal battle and won and was fully vindicated but had to sign an NDA (Non Disclosure Agreement).

Whilst I felt penalised, the directors involved left to become directors at other FTSE top companies (including banks and healthcare) apparently being provided good references. I found it impossible to get a job; looking back it appears nobody wanted to hire a whistleblower despite my proven track record.

I found I was able to build up a rental portfolio with an emphasis on helping people, mainly vulnerable. The math worked as banks were not overly greedy for much of that time, this enabled me to support my tenants through affordable rents and improve the properties. It seems now the banks want virtually all the rent yet wash their hands of with all the risk and work.

The road has been tricky and many of those I have housed have proved very challenging. Some making false allegations as they can be rewarded for doing so.

Now, however, I am selling as a property becomes empty. I would think many landlords will be doing the same. With a conscience I didn’t want to evict but the regulations and lack of support have made me not want to be a landlord anymore. I don’t want to take the risk of housing difficult people who cause huge emotional torment of which I have seen many.

Although I did recently house a homeless man and helped him get his £15k debt written off by coordinating directly with a debt agency. He was in desperate need and found himself in a poor position, but unlike many people I have come across it has become evident he wants to help himself and strive to regain a better life. I felt I had taken a risk when by chance I overheard him begging for accommodation in the local council offices having been sleeping rough and discharged from hospital that day. I approached him and listened to him and his story appeared credible. I knew I took a big risk on this person but feel it may have saved his life as homeless are dying on our streets in our town. Two in the last couple of years.

Interestingly, the pattern I see for difficult tenants leaving my properties isn’t being evicted by me, but usually they live badly, cause damage but they also build debt and have others chasing them. It is the bailiffs for other debts that appear to make them vacate and nothing to do with any stick I can wield. They build up thousands of debt with phones, utilities, clothes and online suppliers sometimes in false names or aliases.

If others feel like me, the government will witness houses for the most vulnerable rolling out of supply as they become empty as the landlords sell due to lack of support. I will continue to do my best but will no longer be able to help house vulnerable people. The councils will likely pick up the additional expenses of temporary accommodation. I have found tenants who live chaotic lives are the ones who tend to eventually leave without eviction so these are the properties that empty first.

I seriously can’t believe how landlords have been vilified and feel there are many like me. Good landlords are proactive and help millions of people the banks and councils refuse or are unable to house. We are proud of being able to help provide homes.

It seams to me flawed policy is responsible for the general deterioration not just in housing but across the board. I can only hope competent people are eventually allowed to make decisions which benefit everyone. There is always a balance where everyone can win.

Current policies will likely show beating one side does not necessarily benefit the other. Creating a popular hatred for landlords should be seen for what it is – blatant discrimination. Housing policy should be evidenced based and not driven by emotion.

Happy New Year to all good landlords – we know we benefit millions of lives.

Thank you,

A Landlord

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