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Sick of this Nanny State
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Fascinating. Normally scum landlords would never admit they are such, nice to see one that is happy to admit it before they even become a landlord.ok, I am back...I assume from all the moans, that the majority of you are all tenants, wishing to be owners but priced out of the market (never being able to raise a deposit to buy)
Or people who don't like listening to tools like you...What I am saying is purely contract law. I write a contract, if you agree.... sign it and be bound to the conditions.
Clearly your legal knowledge is tip topAre you qualified as a financial adviser ? You should not be giving financial advise, as that is regulated also.... you could end up being sued.
As above. Can't wait for the court case....!!!!0 -
ok, I am back...
I assume from all the moans, that the majority of you are all tenants, wishing to be owners but priced out of the market (never being able to raise a deposit to buy)
No, I am a landlord.
What I am saying is purely contract law. I write a contract, if you agree.... sign it and be bound to the conditions. You are free not to sign and look elsewhere there is no one pressurising you to sign. If you cant find anything suitable to rent then you have to move to a different area where the prices are cheaper. This is just the rules of supply and demand.
No you are not. You are also moaning about referencing costs, the cost of getting keys cut and the fact that the tenants money needs to be protected.
Yes, I know the sales market is bad and that nothing is really moving in the market. I have no intention of selling. I know a few people who have tried to sell and are either receiving offers 40k below the asking price or people messing them around. They have all removed their places off the market.
You are all for the free market for lettings. A little less convenient when it isn't working in you favour if you wanted to sell isn't it?
Due to the changes alot of Landlords are looking at other opportunities to invest, so there will be a shortage of properties available.... and then we have the supply and demand situation again.... demand will be high and the supply low... Landlords will be able to cherry pick...
Landlords already pick their tenants.
In regards to the referencing costs.... lets imagine the tenant offers, but has to pass referencing, they advise they have good financial history, no ccj's, earn 70k per year etc... When they are referenced this tells a completely different story... they have wasted the landlords time and money referencing someone that is not suitable.
That is part and parcel of running a business. If you are not prepared to deal with it then don't be a landlord.So, let me get this right....
If a Tenant decides not to pay the rent and trashes the house. The LL can only serve a section 8 after 2 months of unpaid rent. Then the LL has to wait for a court day (pay fee's), then enforce the eviction (pay fees) then repair the house. The LL could be down 15k before repairing the house. But wait they have their 2900 deposit. Fat use when the LL has 25k+ out of pocket.
Sounds well regulated to me.
All form of business has risk. This is one that is associated with being a landlord. You have assess it and manage / deal with it.I prefer the old fashioned way.... Baseball Bat and a few broken bones.... Get the F out !
There it is in a single sentence. That statement demonstrates that you are not fit to be a landlord. You are exactly the type of cowboy landlord that much of the regulation is mean to keep in check.0 -
"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
I'll pull up a chair and sit with the popcorn too now....
I came along to post my reply and you know what MEM62 typed exactly my answer....
Sorry OP you still have much to learnin S 38 T 2 F 50
out S 36 T 9 F 24 FF 4
2017-32 2018 -33 2019 -21 2020 -5 2021 -4 20220 -
House only worth 700k in NW London? Doesnt sound so wonderful to me. Its a shame we're all so poor we can't afford to live in it eh. And you're so poor you cant afford to be a landlord properly.0
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ok, I am back...
I assume from all the moans, that the majority of you are all tenants, wishing to be owners but priced out of the market (never being able to raise a deposit to buy) I own two houses and recently sold our flats in Edinburgh that we let out. That's how I know about liabilities, both legal and moral, of letting out properties
Yes, I know the sales market is bad and that nothing is really moving in the market. I have no intention of selling. I know a few people who have tried to sell and are either receiving offers 40k below the asking price or people messing them around. They have all removed their places off the market. Not true,
I'm in the process of selling one house and got over the asking price. In the NE. I priced it right and got lots of interest so could pick my buyers. Edinburgh market is still soaring. You would need to price yours right. An empty house costs more than you think and the terrrible nanny state is cracking down on these too
Due to the changes alot of Landlords are looking at other opportunities to invest, so there will be a shortage of properties available.... and then we have the supply and demand situation again.... demand will be high and the supply low... Landlords will be able to cherry pick...Tenants already cherry pick. Tenants talk to the neighbours and check out the landlord before moving in. You aren't better than them just because you own the house.
In regards to the referencing costs.... lets imagine the tenant offers, but has to pass referencing, they advise they have good financial history, no ccj's, earn 70k per year etc... When they are referenced this tells a completely different story... they have wasted the landlords time and money referencing someone that is not suitable.As I said previously, I have never had to pay for referencing, it does take time but surely it is worth it to get the right tenant? Or do you just want everything handed to you on a plate?
Just FYI, a 700k house (more likely 625k) in London is no great shakes. Get over yourself and grow up.0 -
ok, I am back...
I assume from all the moans, that the majority of you are all tenants, wishing to be owners but priced out of the market (never being able to raise a deposit to buy)
Nope. Homeowner.
although of course one of the reasons that many are priced out of the market is becuase housing stock is bought up by landlords, inflating the price.Due to the changes alot of Landlords are looking at other opportunities to invest, so there will be a shortage of properties available.... and then we have the supply and demand situation again.... demand will be high and the supply low... Landlords will be able to cherry pick...
.
It's true that a lot of small landlords - those renting out their family home short term, or who realise that it's not quite the money train they assumed, are chosing to get out.
However, it's not a given that that will result in a shortage of proprties.
One possible effect is that as landlords sell up, more properties come onto the market, prices fall, so more people who were unable to afford to buy become able to do so.
Another possibility is that there aresimply fewer small scale landlords and more larger scale ones, who run businesses on a commercial basis, in which case supply will remain more or less static, but incompetent landlords, and rogue landlords, will be weeded out.All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)0 -
Yuo, a lot of people who don't want to sell but who may have rented their house out short term - even for a year or two - will just choose to leave it empty until they need it again. I'm not sure how that helps the housing shortage.Nope. Homeowner.
It's true that a lot of small landlords - those renting out their family home short term, or who realise that it's not quite the money train they assumed, are chosing to get out.0 -
There are plenty of landlords who cant afford to run two properties but see renting as a way of getting someone else to pay the mortgage. Those properties will be freed up.Yuo, a lot of people who don't want to sell but who may have rented their house out short term - even for a year or two - will just choose to leave it empty until they need it again. I'm not sure how that helps the housing shortage.0 -
ok, I am back...
I assume from all the moans, that the majority of you are all tenants, wishing to be owners but priced out of the market (never being able to raise a deposit to buy) - No.
What I am saying is purely contract law. I write a contract, if you agree.... sign it and be bound to the conditions. - Your business is one regulated by law, if you don't like it, don't go into that business. (I doubt you have the ability to write a contract as you would require anyway) You are free not to sign and look elsewhere there is no one pressurising you to sign. If you cant find anything suitable to rent then you have to move to a different area where the prices are cheaper. This is just the rules of supply and demand. - You are incorrect
Yes, I know the sales market is bad and that nothing is really moving in the market. I have no intention of selling. I know a few people who have tried to sell and are either receiving offers 40k below the asking price or people messing them around. They have all removed their places off the market. - how is that relevant?
Due to the changes alot of Landlords are looking at other opportunities to invest, so there will be a shortage of properties available.... and then we have the supply and demand situation again.... demand will be high and the supply low... Landlords will be able to cherry pick... - sure
In regards to the referencing costs.... - you're charging £2.3k rent a month and you're arguing over £40. I think you're telling porkies lets imagine the tenant offers, but has to pass referencing, they advise they have good financial history, no ccj's, earn 70k per year etc... When they are referenced this tells a completely different story... they have wasted the landlords time and money referencing someone that is not suitable.
Indeed. Go to a different business sector if you don't like the rules0
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