Why do people think landlords are greedy

Cannon_Fodder

No 40% drops found so far, but will this do for now?

http://www.telegraph.co.uk/finance/economics/2791884/UK-house-prices-forecasts-get-bleaker-with-prediction-of-35pc-drop.html

Ian_Griffiths_Halifax

brit1234 wrote: »

Buy to Let is now finally being talked about as what it is, a Pyramid scheme. As house prices plumet it highlights why people over the years have called it the british sub prime.

It appears not! This is from Mortgage Intermediary - Trade magazine. The figures are from the CML.

Buy-to-let arrears below market average.

29 September, 2008

Statistical data released by the CML shows that the percentage of buy-to-let mortgages more than three months in arrears stands at 1.1% of all buy-to-let mortgages outstanding.


This compares with a total mortgage market figure of 1.33% in arrears of three months or more. There are currently 1,103,000 buy-to-let mortgages outstanding out of a total market of 11,741,000.

So despite the impression that buy-to-let mortgages are performing badly compared to the rest of the market this is in fact not borne out by these figures.

moneysavinmonkey

sooz wrote: »

Wherever he is, he's reading a Dickensian version of renting in Britain.

My tenants earn a lot more than I do, but choose to rent as I am providing a service for them.

They don't want to be tied down with home ownership just at the moment, & are free to move or leave the country when they choose. In the meantime they rent beautiful quality period properties from me, & I am on call 24hours a day to deal with any maintenance issues, & to wait in for tradesmen.

Where are all these wonderful MSEer landlord who treat their tenants with respect and maintain their properties well?? I've yet to find a single landlord who has behaved properly!!

My landlords so far have been:

a)professional landlord with multiple properties... technically broke the law re: gas certificates, coming around unannounced etc but I didn't know any better at the time. Tried to get out of paying deposit by giving me a cheque which bounced although eventually got the full amount refunded.

b)total nutjob looney woman who didn't know the first thing about being a landlord drove me out through harassment at the end of the 1st 6 months. tried to increase rent + put extra people in the house (e.g. turned living room into a bedroom) without consulting us. Tried to keep my deposit - claimed she posted cheque to me at a different numbered house on the same street. Eventually got full amount refunded

c) nice enough lady until she suddenly needed her flat back for a relative, initially refused to give proper notice or even acknowledge that statutory notice periods existed. Tried to keep out deposit as she needed to decorate to get up to the standards of her relative; eventually got most of deposit refunded as gave up!

d)current house rented through letting agent, landlord is abroad, very slow to get repairs fixed - there is a hole in the roof which we have reported for 8 months now, still waiting for roofer to come around. Letting agent only says that landlord has not approved the quote, so can't go ahead, will send round some different contractors to requote. The property is well decorated but in a very poor state of repair structurally (e.g. outside woodwork, garage door broken, windows all a mish-mash, roof need replacing, a lot of structurally cracks with recent movement (btw is this really bad/dangerous?). Basically they are pocketing our rent each month and not spending a penny on the house. I think they are waiting for it to fall down then claim on the insurance!

I now have substantial savings and a good job, as does my partner, but we can not afford to buy somewhere of our own. We could afford a BTL - mainly due to the tax breaks on the mortgage!!
Why this is allowed for BTL landlords and not FTBS (or all homeowners for that matter) is not understood by me.

I don't think it is right to hate an individual landlord without knowing their circumstances and I don't blame people for making the best of the system as it stands. The government obviously wants people to do BTL and I'm mostly not happy with them! However anyone who is a landlord and hasn't done the requisite reading up on statutory rights, safety laws etc and isn't prepared to maintain the property is a greedy f****** as they are expecting money for nothing at their tenants expense. Ignorance is not an excuse in my book.

sooz

moneysavinmonkey wrote: »

Where are all these wonderful MSEer landlord who treat their tenants with respect and maintain their properties well?? I've yet to find a single landlord who has behaved properly!!

My landlords so far have been:

a)professional landlord with multiple properties... technically broke the law re: gas certificates, coming around unannounced etc but I didn't know any better at the time. Tried to get out of paying deposit by giving me a cheque which bounced although eventually got the full amount refunded.

b)total nutjob looney woman who didn't know the first thing about being a landlord drove me out through harassment at the end of the 1st 6 months. tried to increase rent + put extra people in the house (e.g. turned living room into a bedroom) without consulting us. Tried to keep my deposit - claimed she posted cheque to me at a different numbered house on the same street. Eventually got full amount refunded

c) nice enough lady until she suddenly needed her flat back for a relative, initially refused to give proper notice or even acknowledge that statutory notice periods existed. Tried to keep out deposit as she needed to decorate to get up to the standards of her relative; eventually got most of deposit refunded as gave up!

d)current house rented through letting agent, landlord is abroad, very slow to get repairs fixed - there is a hole in the roof which we have reported for 8 months now, still waiting for roofer to come around. Letting agent only says that landlord has not approved the quote, so can't go ahead, will send round some different contractors to requote. The property is well decorated but in a very poor state of repair structurally (e.g. outside woodwork, garage door broken, windows all a mish-mash, roof need replacing, a lot of structurally cracks with recent movement (btw is this really bad/dangerous?). Basically they are pocketing our rent each month and not spending a penny on the house. I think they are waiting for it to fall down then claim on the insurance!

Wow - are you regularly this bad a judge of character...or did you only find these LLs through a terrible agency

Try asking your local council for a list of their accredited LLs. Or look for those who advertise through landlords' associations.

Whilst you're at it, speak to your local EHO about the problems with your current property. You should not have to live with a hole in the roof for 8 months.

Conrad

All you tenant idealists, one day you might let out your own property and be faced with the dilema of spending money on repair bills, or spending more on your family. Your priorities change once you become a landlord.

I once got a call about a rat in the house. The tnenats wanted me to spend good money on a rat catcher. I told them to put a trap out instead. That or invite it round for tea and biscuits

sooz

Conrad wrote: »

All you tenant idealists, one day you might let out your own property and be faced with the dilema of spending money on repair bills, or spending more on your family. Your priorities change once you become a landlord.

:eek:

You seem to forget that you are offering a service to your clients, & that you are obligated to do repairs. If you haven't budgeted correctly, that is your own fault.

Ian_Griffiths_Halifax

sooz wrote: »

You should not have to live with a hole in the roof for 8 months.

Unless you live in a Teepee and then it's a necessity

beingjdc

santashelper wrote: »

I know many people who are doing buy to let because they took out an endowment mortgage and have now found the shortfall will not pay their mortgage and they have had to look at alternatives to help them through life.

They owned a house on which they couldn't afford to pay the mortgage, and they decided to solve this problem by taking out two mortgages instead of one? Jesus...

moneysavinmonkey

sooz wrote: »

Wow - are you regularly this bad a judge of character...or did you only find these LLs through a terrible agency

Try asking your local council for a list of their accredited LLs. Or look for those who advertise through landlords' associations.

Whilst you're at it, speak to your local EHO about the problems with your current property. You should not have to live with a hole in the roof for 8 months.

only the last place was rented through an agency. Otherwise always gone rented privately- this has been in different parts of the country. Maybe I'm terrible judge of character - mostly it's because I never naively thought to access the hidden mental state of the person I was renting from, was more interested in the property location, size, price, and when I was sharing, the other tenants! e.g.landlord number C was lovely for 18 months only turned psycho/greedy when her dad divorced her mum and she needed to find somewhere for her to live or else she was going to have to come and stay with her (apparently having her mum stay with her was worse than making us homeless at short notice!).

For future reference where would you find LLs advertising who belong to associations?
--
There is no environmental health issue to the hole in the roof - it's not causing any leaks, damps, draft or anything - just obviously going to cause future problems if it's not sorted.

Cleaver

brit1234 wrote: »

People hate Landlords due to what has happened over the last ten years. IE BTL buy up all the first time buyer properties with their tax advantages and gearing, increasing prices rapidly to the detriment of all.

How that I have been priced out of the market my tax payers money now has to bail out buy to let loans rather than hospitals, teachers, armed forces.

Thats why I think landlords are greedy. They sow what they will reap.:mad:

That's as generalistic as saying there are no jobs in the UK because of immigrants or the NHS is badly run because of too many managers.

Whilst both of the above statements may be based in a vague bit of truth in some small capacity, the situations are so complex and are affected by so many variables that it's just an empty soundbite.