landlord bashing

LdnFtB wrote: »

Suffice to say that 80% of 1 bed flats and 50% of 2 bed flats are owned by landlords

AdrianC wrote: »

I'm sure you'll be only too happy to produce a source for that statistic

LdnFtB wrote: »

Sure, it's the English Housing Survey.

Mmm. From a quick squiz through, I'm not sure where you're getting those figures. Perhaps you could clarify?

Nearest I can find is Annex Table 2.2 of the Section 2 spreadsheet.

That gives 19.5% of 1 x twin bedroom properties in private owner-occupier tenure...
BUT... 30.6% in private rental, and the other 50.0% in social rental.
1 x single bed properties lean slightly more heavily towards private rental - 44.9%, with 12.5% owner-occupier and 42.6% social. They would mainly be in HMOs, I would have thought, so it's probably a surprise it's not higher.

Of two-bed properties, 1 x twin + 1 x single is 31.2% private rental, 47.7% owner-occupier.
2 x twin is 49.1% owner-occupier, 28.6% private rental.

Owner-occupied properties had larger floor areas than rented, on average, in all four of those subcategories.

Those figures don't break down between houses and flats, however, so I may be missing something, but I would have thought the 1 bed house was a very rare thing... If you look at AT2.1, it does give building types - the only type where private rented are more common than owner-occupied are converted flat, purpose-built low-rise and purpose-built high-rise. In both of the purpose-built types, social rental is more common than private rental. The ONLY type where private rental is the most common is converted flat - 61.6% - but these are only 11% of private rented properties (point 2.7, p26 of the report)

AdrianC wrote: »

£250/mo would be a mortgage of around £55,000 at 2.49%.



How much per month service charge is the landlord paying within that rent? And what are sale values now?



That's true, but against that is flexibility.

Yes that's about right, think it was closer to £60,000 but the interest rate was very good.

Service charge was very reasonable at around £750-800 per year. Ground rent of £125.

I sold the flat for £120,000 in 2015 and bought a 3 bed house in a nice area thanks to the rise in equity. It would fetch around £135,000 now.

That landlord ain't doing so bad, is he? :cool:

(I was encouraged by many friends and family to try and keep the flat as it would have been a serious moneyspinner, but I don't agree with BTL and had no desire to be a landlord anyway.)

Red-Squirrel wrote: »

Yes that's about right, think it was closer to £60,000 but the interest rate was very good.

Service charge was very reasonable at around £750-800 per year. Ground rent of £125.

I sold the flat for £120,000 in 2015 and bought a 3 bed house in a nice area thanks to the rise in equity. It would fetch around £135,000 now.

That landlord ain't doing so bad, is he? :cool:

(I was encouraged by many friends and family to try and keep the flat as it would have been a serious moneyspinner, but I don't agree with BTL and had no desire to be a landlord anyway.)

So you are not sure if you paid 60,000 or 80, 000 for a flat?

Red-Squirrel wrote: »

Yes that's about right, think it was closer to £60,000 but the interest rate was very good.

Service charge was very reasonable at around £750-800 per year. Ground rent of £125.

I sold the flat for £120,000 in 2015 and bought a 3 bed house in a nice area thanks to the rise in equity. It would fetch around £135,000 now.

That landlord ain't doing so bad, is he? :cool:

£750/mo is £9k/year. Less the service charge/ground rent is £8,100. For a £135k property, that's about a 6% yield - right up there at the top-end.

90% mortgage (£120k) is £540/mo, plus that service charge/ground rent - £75/mo - so that's £615/mo for the flat that your neighbour was paying £660/mo for.

AdrianC wrote: »

That's true, but against that is flexibility.

You're right about flexibility.

I do think there are people for whom renting is a better option, but I don't think private landlords should be the ones to benefit. Personally I think all rented housing should be council or HA owned rather than so many people having to gamble on individuals who range from fantastic to criminal.