What value do landlords add/provide?

Crashy_Time

ukcarper wrote: »

Your obsessed with being debt free, debt can be a very useful thing and can save you money in the long term.

Like getting cash-back on your credit card you mean? Or was this just another way to approach the Buy Buy Buy do it Now mantra?

Herzlos

cells wrote: »

Do you speak from actual experience because I've never turfed anyone out on a whim nor charge any renewals and always pay deposits back same week usually same day. Likewise when I used to rent as a student and for a few years after that I was never kicked out I ended all my rentals as and when I needed to move to another part of the city/country.

When I was a student (10 years ago now), getting a deposit (normally a months rent) back was totally unheard of. The only way round it was to arrange someone to take over the rental yourself and get the deposit from them.

It's maybe better now, but the lasting impression I got was that private renters got shafted, and got shafted even worse when going through and agent (who wanted a credit checking fee on top).

Mistermeaner

Deposits are easy. Just don't pay your last month rent and let ll keep it.

That's what I did as a student anyway

ukcarper

Crashy_Time wrote: »

Like getting cash-back on your credit card you mean? Or was this just another way to approach the Buy Buy Buy do it Now mantra?

Your ignorance is unbelievable.

wotsthat

Crashy_Time wrote: »

:rotfl: As I say, you will need to up your game if you are hoping to convince me that joining the debt Ponzi was worth it. Depends when you joined and made your exit of course, I won`t deny that, but there are many people who "bought" in the last 7 or 8 years that will have totally financially screwed themselves by the time this is over. Aberdeen punters are going to get a short sharp lesson, London and some other parts of the UK will take longer to catch on.

..and your landlord's yield?

I bought into the debt ponzi at the same time you sold i.e. the lowest house prices for a generation - I think we're about the same age too so should be sharing the same hindsight. If you're saying you've averaged £400/ month to own 0% of any of the house shares, flats, rooms or HMO's you've lived in I've managed to house a family in a detached house for only pennies more than that and now own 100% of it.

Using your patented measure of wealth (cash/ annual outgoings) I'm doing great because the cash side has accelerated and outgoings have dropped and, to remind you again, I haven't shelled out much more than you for accommodation over the years so it's not as if I'm playing catch-up either.

We both know your main aims in life are never to own again and never to get into debt again (for whatever reasons) and you're achieving those aims which is great. It's cost you but if you think it's worth it that's great and I'm pleased for you.

Anyway tell me more about Aberdeen....

ukcarper

Crashy_Time wrote: »

:rotfl: As I say, you will need to up your game if you are hoping to convince me that joining the debt Ponzi was worth it. Depends when you joined and made your exit of course, I won`t deny that, but there are many people who "bought" in the last 7 or 8 years that will have totally financially screwed themselves by the time this is over. Aberdeen punters are going to get a short sharp lesson, London and some other parts of the UK will take longer to catch on.

Thought I'd check housing benefit rates for Edinburgh and the 1 bed rate is about £500 a month so I would imagine £400 doesn't get you a great flat.

CLAPTON

MEM62 wrote: »

It's not only what the Government will pay in housing benefit that is the issue - it's also the level of taxation.

I am about to move in with my girlfriend and, for a number of reasons that are not just financial, I am keeping my flat for while and need to rent it out to cover the costs. I have to pay 40% tax on the income so I have to achieve the highest rent I can to keep my losses at a minimum. I use the word losses in the loosest possible way but the reality is, after tax, I am not covering the mortgage, insurance and maintenance etc so I am still having to put money into the property. I am neither a wealthy man or property tycoon. I am just an every day guy that does not want to sell up and wants to hang onto his property.

If it was taxed like any other business where tax is assessed on the profit and not the turnover the situation would be very different.

the tax isn't assessed on the turnover