Buy To Let Parasite

johnbusby

Road_Hog wrote: »

TBH, BTLetters have probably done the rental market more good than harm. Where would everybody be living who is renting now? No, not everyone would be able to buy a property, if your credit or finances are rubbish, who do you turn to for a place to live?
.

Disagree with this wholeheartedly, most private LLs in general will only rent to the people that otherwise would be in a position to buy i.e. those with so called professional jobs and a good credit history. To say that they are providing a public service is folly as the high demand means they can be choosy about their tenants

I dont blame the LLs themselves, I blame the system and market which allows it. That being said I do get wound up by the people that fail to recognise that it is harder to young people to get on the housing ladder today than it was in the past and instead get stuck paying outrageous rents making it very hard to save the tens of thousands of pounds needed for a deposit these days

theartfullodger

The term parasite relating to Landlords is entirely fair. Landlords live off the sweat of the Tenant : "Property is theft" (Proudhon)

Cheers!!
Artful (Landlord)

Road_Hog

johnbusby wrote: »

Disagree with this wholeheartedly, most private LLs in general will only rent to the people that otherwise would be in a position to buy i.e. those with so called professional jobs and a good credit history. To say that they are providing a public service is folly as the high demand means they can be choosy about their tenants

I dont blame the LLs themselves, I blame the system and market which allows it. That being said I do get wound up by the people that fail to recognise that it is harder to young people to get on the housing ladder today than it was in the past and instead get stuck paying outrageous rents making it very hard to save the tens of thousands of pounds needed for a deposit these days

Fair play to your answer.

Maybe it's just me. I don't increase the rent and I allow pets and smokers. I do believe there is a service offered by the small BTL landlord.

And I would have no complaints if any government built loads of council houses to ease the rented sector.

mgarl10024

What an interesting thread, especially the bit about monopolising resources and rentier capitalism.

I'd always seen it that:
- renters pay for a place to live, risk and hassle free
- landlords are paid the rent, as a reward for the risks on their investment (property prices may fall, renters could cause damage, etc.) and the services of the upkeep.

There again, I'm neither a renter or a landlord, so just an outside view.

Hammyman

johnbusby wrote: »

Re: Hammyman

I have no doubt that you work hard however lets not pretend that you being able to afford a second (or third) property is all down to that hard work. The fact is that, probably though more luck than any skill or foresight, you happened to be around at the time of the biggest property boom this country has ever known which has given you tremendous amounts of equity to play with.

Which would be true had I drawn that equity out of the first property. I didn't which is why 60% of the rent I get every month goes in my pocket even though its a repayment, not interest only, and why if the BoE rates go up 6% I still will make money every month.

My mortgage on my new house was £95k, 75% LTV with a significant part of the deposit paid from savings which I was going to use to pay off the mortgage on the first house.

MissMoneypenny

mgarl10024 wrote: »

I'd always seen it that:
- renters pay for a place to live, risk and hassle free

Hang around this board for a bit longer and you will see this isn't true.

I didn't have a clue about what tenants had to put up with until my two children started university.

Renting is like buying one of those Lucky Bags; sometimes you get a nice surprise and other times it's carp.