Thank heavens for landlords

Reply to the comment left by Dennis Leverett at 17/08/2020 - 20:21
I believe it is directed at me.

I also believe you have me wrong, I'm not angry about the situation. I'm pointing out the opinion that a lot of tenants have.

But also in answer of one of Old Mrs Landlords statements, most people do not have an issue with other organisations that provide life necessities as there is often considerable choice available.

Let's take food for example. There are hundreds and thousands of high Street retailers trying to entice your business. To make you buy there. They all compete to be the cheapest, or the most luxurious.
If I wanted a great meal, I could go to marks and Spencers and get some food. If I am saving money I could go to Lidl or Asda and buy something there. When a property is rented a tenant has no idea about who they are renting from. We don't have that choice, we are effectively told that this is the person selling your item, and if you get it wrong and get a bad landlord, you are stuck with that decision for months and potentially costng thousands of pounds and your mental health in the process.

Unfortunately landlords have often saught out how to get the most money from their property because you can. They don't need to entice tenants with cheaper prices because someone will take the property eventually. It's the market force of supply and demand in action.

But please, if you see my other comments on here I am not against landlords, far from it. There is a national stigma against landlords that has come from years of poor action from landlords, agents and tenants alike.

I want to change the world view that landlords are okay and an acceptable part of life. We are currently nowhere even close to that right now but hopefully there is something we can all do to change the mind of the public.

Reply to the comment left by The Forever Tenant at 17/08/2020 - 11:52
I've seen little action from landlords.

Property is a very illiquid asset. The effects aren't instant.

It takes many years for landlords to sell off a portfolio in a controlled manner.

The rental demand is still and increasingly there.

Who is stepping up to fill that gap? Are you?

Reply to the comment left by Ian R at 17/08/2020 - 16:48
Sadly, one can only hope a lot of bad landlords are cleared out of the sector by the current financial issues and replaced by more professional landlords

Where are all these 'more professional landlords' Ian?

Reply to the comment left by Monty Bodkin at 17/08/2020 - 21:24
I honestly don't think it matters who takes over, as long as they are decent people.

But this does segue into another point that I have seen recently. That houses have become unaffordable for the average person.

I myself am in finance, I earn a decent salary above the national average. I have great credit and savings. And even if I had the deposit, a mortgage company would still not give me the mortgage to buy even the cheapest property here, because of the simple factor of the multiplication of my salary not being enough.

I did the calculations and a repayment mortgage on the property I am currently in, is less than my rent. This is a situation that has played out across the country by hundreds of thousands of people. Now this however, is in no way the fault of landlords. You cannot help this and there is nothing you can do to change that. It is unfortunate that your industry is directly linked to theirs and the ill will that is felt towards mortgage companies, unfortunately has rubbed off on landlords.

But my point still stands. That landlordings name has been sullied from years of bad landlords and bad agents. To admit that they have not existed would be to ignore evidence from many sources. I don't believe we would have the laws we have now if it were not for the actions of those bad apples.

Reply to the comment left by The Forever Tenant at 17/08/2020 - 21:43
I honestly don't think it matters who takes over, as long as they are decent people.

Who are these 'decent people' ready to jump into the breach and invest their hard earned money?

'Cos the only people I see taking over on a daily basis, are the scumbags who don't give a toss about the law.

Reply to the comment left by The Forever Tenant at 17/08/2020 - 21:43But my point still stands. That landlordings name has been sullied from years of bad landlords and bad agents.
Your point is nonsense. Nowadays attacking landlords has become a multi million £ industry. It's nothing about helping tenants.

Reply to the comment left by The Forever Tenant at 17/08/2020 - 20:57
Why do you think there are so few properties available to rent? Fifteen years ago when we took our first tentative steps into buy-to-let, properties had to be top-notch and very competitive rent to attract a tenant. Now there are fifty or so applicants when we advertise and we could charge higher rents. As for waiting for someone to take the property "eventually" at an inflated rent, well a couple of months' wait with no rent coming in costs far more than pitching the rent £20 cheaper and having minimal voids.
I have a suggestion for you as you seem to have had unbelievably bad luck with your landlords in the past. Why not ask to hear what current and previous tenants have to say about their experience of the prospective landlord. A good landlord will be happy to allow this and will probaby be able to show you on his phone the parting remarks of outgoing tenants, which by then have been made after landlords' references have been given so no they will have no ulterior reason to be complimentary.

Reply to the comment left by Monty Bodkin at 17/08/2020 - 22:09
Licensing has done nothing to help tenants, in fact made the majority of tenants lives worse with higher rents & less budget for the repairs.

21% of houses have faults by Nottingham Councils own rules. Could be most minor fault ever. Council only hear from bad tenants. Good houses tenants with good landlords don't need to shout up, hence Councils only hear from tenants about bad Landlords so think all Landlords are bad. Councils actions then on ALL houses ALL Landlords then make it more expensive for ALL tenants, those tenants that din't have problem before.

Reply to the comment left by Old Mrs Landlord at 17/08/2020 - 22:20
Exactly right Old Mrs, there's a queue of working people now, whereas 15 years ago, there would be a queue of HB people & maybe one working person.
The Govt & Council's over exuberant legislation on all houses for all Landlords has now made it harder & almost more expensive for all tenants.

Reply to the comment left by The Forever Tenant at 17/08/2020 - 20:57
The truth has nothing to do with Landlords, it's basic economics, supply and demand. Demand is vastly outstripping supply because of the failures of successive Governments to build houses, especially social housing and not controlling immigration (not a racist comment). According to many tabloids there are now an estimated 1.2 million illegal immigrants in this country and they are all living somewhere be it good or bad. Apparently 48,000 of them are currently being housed in hotels at the taxpayers expense which I have seen from experience. I recently wanted to visit some friends in the area I was brought up in and tried to book into the local hotel, Rivenhall Motor Inn, just a short walk away. I was told they were fully booked at least till the end of the year. My friends told me it is full of illegal immigrants who have crossed the channel, they are seen drinking, smoking etc. and causing problems in the village. It is/was a quality hotel. That area is actually Priti Patels own constituency. We are the Governments scapegoats, they lit the fire allowing all these lefties etc. to throw petrol on it, but they are so ignorant that they can't see they are adding to the problem they claiming to resolve, once again self indulgence fuelled by envy and politics. My return on capital employed is around 4%, less if you take inflation into account, I do not make any capital gain on the actual properties until I sell and if there were to be a property crash I would lose out. I am carrying the risk, no-one else, in order to give people a decent home and never had a complaint from a tenant in fact a couple of years ago had a serious accident and was moved by the offers of help from tenants. Most Landlords are decent people.