BTL'ers are not evil are they??

wymondham

I regularly read that the BTL brigade are to blame for for a host of wrongs with the world, ranging from the price of housing to famine in some distant country and shrinking chocolate bars. I don't see it... all I see is astute people who have had to look to different ways to get a decent return on their money, because:

1. Interest rates are so artificially low, normal savings returns are usually worthless.

2. Pensions are all over the place, both in terms of predictability for long term investment in stocks and continual rule changes by the Government. The latest change I will admit probably made this more tempting!

Based on this, if you wanted a good, solid return for your hard earned money you look to certainties of which there are not many, but most would agree property is a good one because:

1. UK PLC is obsessed by increasing house prices

2. The Government are also majorly obssesed by increasing house prices and regularly add stimulus to ensure it continues to increase. The government have created an ideal breeding ground for BTL (high house prices, no social housing alternatives etc)

Given the above, surely if you can afford to be into BTL you would indeed be silly not to invest in one of the few Government backed certainties (prices aint going down if they have anything to do with it)? Everyone wants to have a comfortable retirement and this seems to be an ever more popular way of ensuring this?

I'm not BTL'er as I can't afford it, but if I could then it would definately be a consideration!

Should people give BTL'er a break and acknowledge they are just taking advantage of the climate they find themselves in??


Note: How people are as a landlord is another matter - I'm just thinking of the investment side...

Masomnia

I think it's similar to how people look at bankers. They see Landlords owning an asset and taking the income without (as they see it) putting much effort in. It's not earning money through 'honest toil', like money changing. That's the perception anyway.

Plus I do think the law gives more power to landlords than tenents, compared to other countries with more security of tenure than the UK.

But yes if I had the money I would have a BTL too. Probably just one, a flat or something, not as much work etc.

chucky

wymondham wrote: »

Should people give BTL'er a break and acknowledge they are just taking advantage of the climate they find themselves in??

They should be sent to a prison and have to do 22 hours hard labour each day. They are taking advantage of a precious commodity.

wymondham

chucky wrote: »

They should be sent to a prison and have to do 22 hours hard labour each day. They are taking advantage of a precious commodity.

its a free country and i'm not aware they are doing anything illegal? (smileys not working so consider this to be a nice happy smiley)

jd87

I've always frowned on BTL but the OP does have a point. If interest rates weren't so low BTL might not be such a problem. Who would want the hassle of being a landlord if they could avoid it?

Masomnia

jd87 wrote: »

I've always frowned on BTL but the OP does have a point. If interest rates weren't so low BTL might not be such a problem. Who would want the hassle of being a landlord if they could avoid it?

There is always going to be demand for renting, lots of people want and/or need to rent at some stage. So BTL will always have a place imho.

CLAPTON

like drugs, no point in trying to stop the suppliers, you have to imprison and ruin the lives of users, as demand will always find a supply

so it is with renting: imprison tenants ; problem solved immediately

wymondham

Masomnia wrote: »

There is always going to be demand for renting, lots of people want and/or need to rent at some stage. So BTL will always have a place imho.

True, and I can only see private BTL increasing rapidly as alternative means of investing offer such poor returns..

lawriejones1

I don't think the principle of BTL is wrong, but I think the way that many part-time landlords approach what is a very serious, and now highly regulated, business is laughable.

A good landlord earns his or her money, they are conscientious, fair, honest and make living in their properties enjoyable.

Bad ones are penny pinching thieving, dishonest and duplicitous individuals who shouldn't be let near an assured tenancy agreement.

chucky

lawriejones1 wrote: »

I don't think the principle of BTL is wrong, but I think the way that many part-time landlords approach what is a very serious, and now highly regulated, business is laughable.

A good landlord earns his or her money, they are conscientious, fair, honest and make living in their properties enjoyable.

Bad ones are penny pinching thieving, dishonest and duplicitous individuals who shouldn't be let near an assured tenancy agreement.

There are very few full time landlords. This must mean that most landlords are penny pinching thieving, dishonest and duplictous individuals. That's a very poor generalisation, typical of many sheeple on here.

Tenants have a choice which property they decide to rent just like a landlord has a choice the tenant to rent his property to.

Generali

lawriejones1 wrote: »

I don't think the principle of BTL is wrong, but I think the way that many part-time landlords approach what is a very serious, and now highly regulated, business is laughable.

A good landlord earns his or her money, they are conscientious, fair, honest and make living in their properties enjoyable.

Bad ones are penny pinching thieving, dishonest and duplicitous individuals who shouldn't be let near an assured tenancy agreement.

But isn't that the same in any line of business?

I worked for Hedge Fund managers that were thoughtful in everything they did and gave huge amounts of time (relaand money to charities. I also worked for Hedge Fund managers who wouldn't sell their Grandmothers into slavery but instead would be happy to give them away out of spite because they could.

I also used to work in catering. I worked, washing up in a kitchen where they wouldn't let you use hot water and left the food out in the open to cool to save on refrigeration costs. I worked in a pub that reused the salad garnish.

I also worked in a hotel as a late night barman where the assistant manager would leave me the keys to the kitchen because dinner was at 6pm and I regularly worked until 2am despite it being explicitly against the rules. The chef used to suggest things I might like to try that night and the best way to reheat them!

BTL owners are no different from the owners or managers of any other sorts of businesses.