Tenant

AdrianC

seven-day-weekend said:

AdrianC said:

Good landlords who follow the law and process have protection.

Like what?  It can take months or sometimes years, to get rid of a tenant who has trashed the place or not paid rent for months.  And the LL doesn't get their money back.

Like I said, landlords who follow process...

Yes, the process is slow at the best of times - all legal processes are, thanks to ongoing political underfunding of the courts.
Yes, Covid has slowed it even more currently.

Yes, landlords can "get their money back" - again, through the courts, if the deposit is not sufficient.

If you try to claim money from a creditor who has no money, then the courts cannot magically make that money appear. That's nothing to do with the residential lettings business. The process of getting a court to adjudge a claim for money - then enforcing the judgement when made - is the same whatever the reason for the debt.

seven-day-weekend

lookstraightahead said:

seven-day-weekend said:

Landlords may as well give the tenant all their  money instead of putting it in the bank.  That's a valuable asset too.  If they can have control of one type of asset, why not the other?

Don't get me wrong, I am a good landlord and do all the required legalities, plus leave my tenants in peace, because I appreciate it is their home while they are renting it.  But it is not their property. However the law is now all on the side of the tenant, landlords have very few rights.  That's why many are selling up.  We will be selling if/when our (very good) tenants leave.


Soon there will be no properties available for private rental, and not much in the way of social housing, so that will be renters stuffed.

Why are you a landlord? I would hate the job so I don't do it. Give your tenants notice. (Awaits response that's you're doing it for the tenant).

you are absolutely right that it's their home, they are paying you for the privilege. 

I bought the flat because I came into an inheritance and it seemed a good investment that my aunt would have approved of.  I don't hate being a landlord if I have decent tenants, which I have at the moment.  However it is such a risky game these days getting a bad tenant, and so drawn out and expensive to get them out, that I don't want to run the risk if/when my present tenants  leave.

theartfullodger

Being a landlord, like afaik all businesses, has risk.  That's reality.  All investment has risk, we deal with that risk. 

seven-day-weekend

theartfullodger said:

Being a landlord, like afaik all businesses, has risk.  That's reality.  All investment has risk, we deal with that risk. 

I think that I would like to take a different risk now.  I might buy a holiday home (just for family and friends) instead.  Still got the investment.

lookstraightahead

seven-day-weekend said:

lookstraightahead said:

seven-day-weekend said:

Landlords may as well give the tenant all their  money instead of putting it in the bank.  That's a valuable asset too.  If they can have control of one type of asset, why not the other?

Don't get me wrong, I am a good landlord and do all the required legalities, plus leave my tenants in peace, because I appreciate it is their home while they are renting it.  But it is not their property. However the law is now all on the side of the tenant, landlords have very few rights.  That's why many are selling up.  We will be selling if/when our (very good) tenants leave.


Soon there will be no properties available for private rental, and not much in the way of social housing, so that will be renters stuffed.

Why are you a landlord? I would hate the job so I don't do it. Give your tenants notice. (Awaits response that's you're doing it for the tenant).

you are absolutely right that it's their home, they are paying you for the privilege. 

I bought the flat because I came into an inheritance and it seemed a good investment that my aunt would have approved of.  I don't hate being a landlord if I have decent tenants, which I have at the moment.  However it is such a risky game these days getting a bad tenant, and so drawn out and expensive to get them out, that I don't want to run the risk if/when my present tenants  leave.

So on balance you're still happy being a landlord. 

I inherited a house and sold it. I didn't want the responsibility.

we make our own choices - you are still deciding to be a landlord, making an income from a property that also had no mortgage (presumably). So you can't think it's that hard.