Not a time to be a buy-to-let landlord

westernpromise

Garethgrew wrote: »

Why would LLs ask tenants to leave before selling?

To be sure that the property will be vacant on completion. You normally don't exchange on a sale until the tenants have left.

chucknorris

westernpromise wrote: »

To be sure that the property will be vacant on completion. You normally don't exchange on a sale until the tenants have left.

Absolutely, it would be courting disaster to not do so, and in addition I may want to refurbish the property too, prior to marketing the property.

cells

westernpromise wrote: »

Landlords broadly support building because they'd rather have five houses at £200k than four at £250k. The stamp duty's cheaper and the void risk less. So to that extent, landlords and tenants share the same goal.

The faction whose interests really are diametrically opposed to those of renters are existing homeowners. Building more houses dilutes the value of an owner-occupier's home, and building them near his home dilutes it even worse.

The owner occupier therefore bitterly opposes building at all, and especially building in his own back yard.

it would make perfect sense for landlords to oppose new building especially in their own regions, just in the real world I have not met any that do/would oppose new builds because well frankly it would be shameful for a landlord to do that even if it is in their financial interest.

mwpt

westernpromise wrote: »

The place I rented for £275 a week in 1998 I now own and let for £550 a week. The rent has gone up 100% in 18 years, but the property value has gone up from 288%. For lengthy periods the rent has stagnated, and on one or two occasions has fallen, because buying was more attractive.

That is because rents are governed by the trivial laws of economics, whereas we have the upward pressure of credit on the asset side. As credit costs go down, so effective demand goes up.

cells

anchovypizza

chucknorris wrote: »

I've already increased my rents to soften the blow of the forthcoming tax changes, but since then I've noticed rents have climbed again, so more scope to increase further.

I mean this with no malice, anger or hate, I do not like or dislike you, and have no idea who you are, but could probably build up a decent picture on what I have read.

I hope that you lose your shirt in the next few years and recover enough from it not for it to have any lasting effects on your health...

Society does not need people like you in it, and yes we do need rental property in the UK

cells

westernpromise wrote: »

Excellent data and chart. I note particularly how the types of places people want to own are precisely not the sorts of property that they tend to rent

yep it seems people want to be owners in 3-4-5 bed homes while renters typically take the 1-2 bed flats and homes.

westernpromise wrote: »

or that landlords tend to buy. But these are exactly the sorts of property that over-leveraged landlords may soon be selling; which points very strongly to other landlords being the likely buyers.

It has been that way for a long time (at least in inner London).
From my info about 9/10 BTL purchases are Landlords buying from other Landlords

However the owner and rental markets are linked by marginal buyers. So I do not think we could have a crash in 1-2 bed flats (eg landlords selling) while 4-5 bed houses go up in value

chucknorris

anchovypizza wrote: »

I mean this with no malice, anger or hate, I do not like or dislike you, and have no idea who you are, but could probably build up a decent picture on what I have read.

I hope that you lose your shirt in the next few years and recover enough from it not for it to have any lasting effects on your health...

Society does not need people like you in it, and yes we do need rental property in the UK

You are just another internet fool, I don't care what you think. But for the record if you had bothered to actually read my posts, you would know that I charge below the market rent, which is why it was so easy for me to increase the rents. But of course we already know that you don't do your research before leaping in, don't we 'laddie'.

I have already explained to you once, that I have way passed the losing my shirt position, how many times and different ways do I have to explain that to you, before it sinks in?

CLAPTON

anchovypizza wrote: »

I mean this with no malice, anger or hate, I do not like or dislike you, and have no idea who you are, but could probably build up a decent picture on what I have read.

I hope that you lose your shirt in the next few years and recover enough from it not for it to have any lasting effects on your health...

Society does not need people like you in it, and yes we do need rental property in the UK

just love the concept that one can, without malice, wish some-one harm.

antrobus

cells wrote: »

That doesn't really help also I am not too confident about the reliability of the data.....

That's what you always say whenever presented with some facts that contradicts your prejudices. The data must be wrong!:rotfl:

Personally, I have more confidence in the reliability of ONS data, that your data.:)