A possible way forward

IveSeenTheLight

pandamonia wrote: »

buy to let should just made as expensive as possible. homes are for living in not for greedy developers

I have two BTL's that I rent out to people who have no intention of buying for their own personal reasons.

There needs to be homes available for rent and thus a rental market is created.

If there were no BTL's, would you be greedy enough to deny people an option of renting instead of buying?

What sort of home are you in now? Bought, rented or parents?

lynzpower

socrates wrote: »

Interesting post - they are out there - I know three of my close friends in similar positions.

Like I said my plan is only for mortgage free properties. I cannot see how that would be deemed a bad risk.

Dont you think its a financial risk to purchase properties that the LL cannot find tenants for?
http://forums.moneysavingexpert.com/showthread.html?t=1462875

1 word- oversupply.

IveSeenTheLight

lynzpower wrote: »

Dont you think its a financial risk to purchase properties that the LL cannot find tenants for?
http://forums.moneysavingexpert.com/showthread.html?t=1462875

1 word- oversupply.

I personally have had 2 weeks void in just over two years on two properties.
This is an average of under 3.5 days per property per year

If LL's are having a problem renting out their property, they need to look at the rent they are requesting and the condition of their properties

silvercar

lynzpower wrote: »

Dont you think its a financial risk to purchase properties that the LL cannot find tenants for?
http://forums.moneysavingexpert.com/showthread.html?t=1462875

1 word- oversupply.

Of course it can be a financial risk, that is why you need to do your homework first and find a property that is good for rental.

That is why a lot of people who can't sell their homes make bad landlords. Firslty they are short of money (in a lot of cases) so haven't got spare cash for maintenance, voids and tenants who don't pay their rents. Secondly their property is not in a good rental market.

dopester

silvercar wrote: »

Of course it can be a financial risk, that is why you need to do your homework first and find a property that is good for rental.

That is why a lot of people who can't sell their homes make bad landlords. Firslty they are short of money (in a lot of cases) so haven't got spare cash for maintenance, voids and tenants who don't pay their rents. Secondly their property is not in a good rental market.

a) What? Like in Scotland and Aberdeen? Keeping in mind we're only just really going in to it.

THE economic downturn is set to lead to more people sharing rental properties rather than living alone, according to a new report.

An analysis of rental properties in Edinburgh, Glasgow and Aberdeen has shown that one-bedroom flats are now taking up to nine days longer to let than they were a year earlier.

The Citylets report for the final three months of 2008 showed that

the average time-to-let rose to 37 days, up two days from the same period in 2007, with 48 per cent of all properties letting within a month.

Thomas Ashdown, managing director of Citylets, said: "This report suggests that, with the credit crunch still going strong, people are becoming fearful for their jobs and more protective of their money – which is why many are choosing to team up and rent larger homes with friends."

http://news.scotsman.com/scotland/Bank-job-cuts-blamed-as.4906956.jp

b) If it helps push down the rent-prices of the wider market, I'm all for it. Do you think your argument will somehow stop forced landlords, after they've seen the light of your wisdom?

Do you not think forced landlords will continue to impact hard for rental values on "professional" landlords, or you just ignore it and want to MEW to carry on borrowing/buying for a property empire where house prices and rental values can only go up?

IveSeenTheLight

dopester wrote: »

a) What? Like in Scotland and Aberdeen? Keeping in mind we're only just really going in to it.

http://news.scotsman.com/scotland/Bank-job-cuts-blamed-as.4906956.jp

b) If it helps push down the rent-prices of the wider market, I'm all for it. Do you think your argument will somehow stop forced landlords, after they've seen the light of your wisdom?

Do you not think forced landlords will continue to impact hard for rental values on "professional" landlords, or you just ignore it and want to MEW to carry on borrowing/buying for a property empire where house prices and rental values can only go up?

LOL, Gotta love your fascination for Aberdeen, you fishing for a bite?

Why specify Aberdeen only?, when the report you link mentions Edinburgh, Glasgow and Aberdeen

The journalistic piece picks up on three totally seperate market areas and chooses only one type of property, with no reference to the source :rolleyes:

Gotta love your "seen the light" reference as well

As for pushing down rental prices and voids, I can only talk about Aberdeen and either 2 bed flats or 4 bed houses, but as stated above, I have an average of 3.36 void days per year per property and rent prices havewent up in the last two years

Looking at your journalistic piece referring to only 1 bed flats, I did a quick check on www.aspc.co.uk and found that there were 15 one bed properties currently advertised for rent under £500 per month and 7 of them were under offer at present

Have a nice day Mr Dapester

dopester

IveSeenTheLight wrote: »

LOL, Gotta love your fascination for Aberdeen, you fishing for a bite?

Why specify Aberdeen only?

Don't be so sensitive.

The answer is because silvercar posted this...

silvercar wrote: »

Of course it can be a financial risk, that is why you need to do your homework first and find a property that is good for rental.

Where I don't believe you can use previous old-world methods of simple logic and "homework" to easily assess property which would be good for rental.

Maybe in the short-term but not in the long-term - because so many on the pillars of what was previously accepted are crumbling in to dust as the economy may go in to what Gordon himself admitted the other day... global depression.

You'd need to one of the finest minds on the planet - not some BTL chancer who reckons they are a cut-above the amateur thinks... "ooohh there is a University just up the road.. sure bet rental this house" - when that University may subsequently get a lot less funding, fewer overseas fee-paying students, less grant money, students and their families unable to meet their own fees.. less ability for parents and students to go to university anyway because of job losses, pay-cuts, crashing house prices, fewer part-time jobs, deflation - and bleak prospects after uni to repay high student debt - and landlords have to lower rents accordingly.

I only chose Aberdeen because it is one of two places I immediately thought of where many people still assume an important industry will see them ride through what is to come with little impact on property values or rent values - where I don't believe that can be taken forgranted.