Legal & General plans to become large-scale landlord

chucky

Graham_Devon wrote: »

Ooo, well the BTL investors don't much care for it, so it must be good news!

Very predictable, your points get broken down constructively and you don't have a reply so it's the usual answer trying to deflect away...

Please don't have another online breakdown again.
It's not good for your health.

Out,_Vile_Jelly

I once rented from a professional property company. It was the most hassle-free renting experience of my decade in London:

-24 hour helpline for defect reports
-central furniture depot so you could request items that exactly fitted your needs
-everything properly documented in a clear paper trail

Such a refreshing change from clueless letting agents and amateur landlords. If we are to have a high proportion of tenants, it would be great if well-run companies got a slice of the market and raised standards.

ruggedtoast

Anything that provides competition to the oily BTL sleaze-jackets has to be a good thing in my opinion.

CLAPTON

ruggedtoast wrote: »

Anything that provides competition to the oily BTL sleaze-jackets has to be a good thing in my opinion.

absolutely:

we need large scale monopolistic greed capitalists to move into the rental market;
we all know it will reduce prices and improve quality as has been proved time and time again.

the government can help by introducing whole new raft of new rules and regulations making it impossible for small landlords to compete, knowing we are safe in the hands of big business.

Physics

The advantages of a large company doing this are huge. They will be able to offer a better service, and cheaper. Lots of independent, ameuter landlords will struggle to compete on price and quality.

Graham_Devon

CLAPTON wrote: »

absolutely:

we need large scale monopolistic greed capitalists to move into the rental market;
we all know it will reduce prices and improve quality as has been proved time and time again.

the government can help by introducing whole new raft of new rules and regulations making it impossible for small landlords to compete, knowing we are safe in the hands of big business.

Isn't extra supply what you have been suggesting is needed for so long?

Now it happens, you call the company doing it, which does seem to be doing it for all the right reasons, monolithic greed capitalists.

It's not liked, this new supply, is it? Must grate even more that it's being done due to "intergenerational injustice".

Percy1983

Sounds great to me, I would have considered renting if they where around.

Conrad

This will be marketed as the smart way to invest in B2L.

Thing is it wont be that smart. Their overhead will be huge and inclined to all sorts of waste.
I bet the fund will produce no more than 5% pa net of charges.

wotsthat

Graham_Devon wrote: »

Tesco don't put their prices up for instance as a waitrose has just been built 500 yards away. They compete. Same principle applies for the rental sector. If 100 new homes have just been built and up for rent, existing landlords will have to compete with them and make themselves more attractive.

Waitrose build supermarkets in areas where they think there are sufficient people willing to pay the price premium (like the South-East). They're not interested in areas like the meadows estate in Nottingham where they're not.

Why? Because they'd have to compete on price with the likes of Aldi & Lidl. Their business model is based on a price premium and you should know that Waitrose make bigger margins than Tesco.

Have a think about the companies that are on your 'hit list' - are they big or small? Utilities, oil companies, any supplier of 'essentials', EDIT 1: banks, EDIT 2: builders.

There's plenty of potential for this to be a good thing just don't be fooled into thinking that L&G are doing this to be nice - that's just marketing.

CLAPTON

Graham_Devon wrote: »

Isn't extra supply what you have been suggesting is needed for so long?

Now it happens, you call the company doing it, which does seem to be doing it for all the right reasons, monolithic greed capitalists.

It's not liked, this new supply, is it? Must grate even more that it's being done due to "intergenerational injustice".

I have already welcomed any increase in new building.

There are some that welcome large corporations but despise small business people. I don't share that view.

However we will see in due course how it all pans out and how many are actually built and how they are managed and how much subsidy they seek.

And yes the reference to 'intergenerational injustice' is almost unbelievable coming from L&G.
Hopefully the idiot will be encouraged to seek new challenges outside the company.