Time to Quit Being a Landlord especially in Scotland

lighting_up_the_chalice

jjlandlord wrote: »

The catch is that if no-one invest then people have nowhere to live.

Why? Stock levels stay the same, only tenure changes.

lighting_up_the_chalice

LateStarter wrote: »

Up front I'll say I'm in favour of tenant's rights, and I think landlords should be regulated. But by definition most renters are people who currently cannot afford to own their own home (note I said MOST). Somebody has to build/own those houses (and let's not get into the argument that it should be the government).

Why should I (as an individual, or a company) invest in housing if there's a chance that an asset where I've invested hundreds of thousands can be made unavilable to me when I require that asset?

Banking shares anyone?

You're asset is available to you. You can sell to another investor with a sitting tenant. It may effect the selling price, but that's mitigated if you purchased with a sitting tenant. It's very similar to leasehold.

lighting_up_the_chalice

LateStarter wrote: »

Oppurtunity cost of capital mate. I fear it would drive investors elsewhere (all landlords are investors, aren't they?). And 2 months' S21 notice is hardly the drop of a hat (approximately 1.5 seconds when dropped from the average head).

I'm not defending landlords - I think it's a balancing act and it's easy to defend the rights of the tenant and ignore the other party.

If it drives investors elsewhere, then house prices drop and more people can get on the property ladder. Is that such a bad thing?

Pixie5740

Missko wrote: »

Pixie darling, Mummy and Daddy would never have let the house get repossessed! So I DIDN'T need my tenants. Also, despite the fact I am now once again rolling in it, I've stayed living with the parentals whilst my tenants move back to their own country at their own convenience. BUT that doesn't fit with your caricature of an evil LL does it? And BTW the other rental properties are family owned.

I don't think landlords are evil but I do think tenants need protection from no fault evictions. I don't even think you're evil. You're just delusional. You have, for whatever reasons, delusions of grandeur. You make out like you have a property portfolio when you don't. Just because members of your family let out properties doesn't make you a property magnate. I also seriously doubt that you're rolling in it as a failed criminal defence solicitor turned property solicitor.

You make out like you're doing your tenants a favour but the reality is that you probably couldn't, legally evict them any faster and you need the money while you try and pay off your substantial debts.

Missko

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JencParker

Missko wrote: »

Pixie, you're clearly jealous.

Why am I a failed criminal lawyer? Cos I went to work in England for a couple of years, became dual-qualified then realised I could make more money in Property and not have to go to police stations at 3am?

And I no longer have any debts except per my signature.

You make more money as a landlord than as a lawyer. That says it all really. It's money for old rope and the tenant and, in some cases, the tax payer is paying.


Clearly the rental industry is loaded in favour of the landlord - it is quite right that some balance is brought in and made fairer for tenants.

Missko

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Missko

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JencParker

Missko wrote: »

Jenc (or anyone else who cares to have an opinion) - what do you say to someone who perhaps lost their job or couldn't sell their flat and had no alternative but to rent it out? In terms of being able to get their flat back? Should there be a distinction between "accidental" (small scale) LLs and professional investor LLs?

I have already said there is a market for short term rental property, there always has been, there was before the Rent Act which controlled rent and gave tenant security of tenure, and there will still be that need in the future.


However, you would have to define 'accidental' (small scale) - do you mean accidental in that they rent their home out when times are difficult, in which case, how would you define small scale - 1 or 2 properties? That would not make them an accidental landlord. A professional investor may own only one property so still be small scale.

JencParker

Missko wrote: »

You've misunderstood Jenc - when I say I work in Property, it's as a Property lawyer.
I don't make much of a profit from being a LL. Only about £100 per month.

You only make £100 per month? is that in rental income or do you include capital gain achieved with rising property prices?