Moved to AUS with the intention of coming back. Rent out our house in London. Getting taxed twice was a pain but what did it for us was the last tenants who decided to sublet (bedrooms in every room, 4 fridges innthe kitchen, partitioning the through lounge) and the estate agents lack of action. Got sick and tired of the whole thing.
Australia is no better house prices are at a record high. renting has become unaffordable many familys are becoming homeless builders and developers going into liquidation it's a mess.
@@wally1166 Yep, even worse than the UK. It's more of a ponzy scheme than the UK due to housing and second homes for rental suits only a small group of people.
@@wally1166 Australia is appalling. Democracy is crumbling at a rate of knots and property prices are going through the roof. Still went up another 2pc last quarter here in Perth, property prices on the east side are starting to increase again and lots of the houses here have zero character. I'd honestly rather be in the UK; don't feel safe here anymore, after getting locked into the country for 2.5 years when only in Australia to look after my daughter who was having an op.
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people at least in California, where I currently reside are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of finances and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
Personally, I can connect to that. When I began working with "Colleen Janie Towe," a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
@@williamsbrown4026 Please how do I connect to her? My funds are being murdered by inflation, and I'm looking for a more profitable investing strategy to put them to work.
@@williamsbrown4026 Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.
My landlord is selling the property and I am asked to leave as he is now making a loss due to section 24. I am blaming the government for all these anti-landlord laws. There is a serious shortage of rental properties on the market now and I am really struggling to get a rental property in my area.
Thank you, it’s wonderful to see a video raising current issues from the landlords side for a change. Great video, very informative and hopefully will make tenants see things in a different light. We are aware of their problems but no one is aware of ours.
I suspect my (newly FORMER) Landlord was one of them. Seemed to take two or three holidays every year. And yet now that interest rates are rising, suddenly he's "getting stung" by mortgage rates. He's owned and rented out my (old) house for at least 10 years, and he's probably been retired for about as long. He was an Ex Police Officer/Detective, so he would have been on a very good wage. I was surprised that there was still a mortgage on the property, given that he used to live there himself before he rented it out 10 years ago (to a previous tenant). He now owns at least three properties (one of which being his own home). So I strongly suspect he was living off the profits of his Letted properties and supplementing his retirement lifestyle instead of paying them off ASAP.
@@Edithae sounds like he drew down on his own house to buy more properties to get more rent. Fr, low interest mortgages have been spoiling us for a long time now since 2008 I think, so they’ve had plenty of time to pay them off or at least take a big chunk out of them. But ofc they kept expecting the interest rates to stay low but as they’ve increased and probably won’t go back down they’re about to understand they can’t have the lavish lifestyle they wished to have. A retired landlord should know not to draw down too much on a property at least not over 50% so that he/she has plenty of equity to fall back on and not get high mortgages because ultimately all mortgages do is rob them of more money than they used to buy the house
That's not how you use debt to generate wealth. Do you see any major financial institutions paying off their debts? Or do they keep growing it. Most normal people don't understand debt, they even think it is terrible that debt levels keep increasing thinking it's a bad thing, when actually it isn't. Debt is how money is created, once you understand this and use it to your advantage, you'll find your position will drastically improve. I started with nothing, and I will never pay any of my debts off on any property, even my own. My children will also inherit those debts as they will be taught how to use those debts to their advantage. This is how generational wealth is created.
@@user-gz6tx6yp3v debt is a very powerful thing, but it means you’re always exposed to exterb factors that are outside your control. Sure you can put debts down to recover funds that otherwise would’ve been put into taxes. But ultimately, you don’t own anything when you have debt - the banks own your assets and your mortgages are traded amongst banks. Some people are comfortable with debt, others prefer the old fashioned way. They like the peace of mind of being in total control and taking limited risk debts. It’s about what type of person you are
I've got to object to your introductory premise. It isn't the number of landlords who are selling up, it is the number of properties that matter. The fact is, the number of individual landlords has been falling for years and those that remain are almost all dependent in reality on Property Management agencies. They are more like shareholders than real landlords. Actual ownership is often a big secret, especially with the biggest property manager of the lot - Countrywide - and what they are hiding is the huge amounts of money slipped into property portfolios by financial speculators and investment managers. Housing has become a traded commodity in the financial markets (which it absolutely should not be) and a lot of that unwanted inflationary investment is foreign and dirty (oligarchs, drug dealers, embezzling despots). This centralisation and monopolisation of property ownership is the reason for both sky-high prices and scarcity and numerous other woes (including the destruction of tenant rights and home security). Yes, over-regulation is one reason for the decline in real landlords but the real problem is the financialisation of housing and the corrupt politicians with their fingers in the till.
You have just made all that up! Government figures are available on line. 94% of landlords are private individuals and 85% of landlords have 4 or fewer properties. 40% did not even intend to be landlords and just let out a house they either lived in or inherited. There is no monopolisation of property. The vast majority is owned by the person living in the house. The market is not controlled by any group. The biggest owner is the the local authority or their housing association as it has been for 75 years. Most people can and are getting into home ownership. There is a blip in this at the moment but FTB has been at decent levels in recent times pre covid.
Nonsense. Less than 19% of the UK stock is rented accommodation. Of the trusts building PRS this is concentrated in high volume apartment blocks in city centres so the numbers work. The rental market is not as big as people think, but people focus on that as the reason for the market woes by design because it takes the focus of the real perpetrators of the housing crisis which is the government. Planning system, Green initiatives driving up costs and reducing available land to build, high immigration etc etc.
@@user-gz6tx6yp3v bullocks again. There are basically no properties for normal income households to buy, they are all forced into the rental market due to this situation. Yes all the old generations live in owned properties from when the times were good. People who are in their 60's and don't need large homes to raise families in and they own the vast majority of the housing stock but for newcomers to the market? Table scraps at best with sky high rental costs that make it impossible to actually build up your finances to buy your own home. The market is in a choke hold and the poorest and most weak are paying just to stay alive.
@@BrutusAlbion Not true at all. There's plenty of opportunity if people move a little further out and buy a fixer upper. You can still get houses for £280k, 28k down and 2 people earning. It's no different now than it was for our parents. They grafted and saved, old furniture cars etc.
@@user-gz6tx6yp3v sure buddy, sure. And where's the low-income housing hmmm when you need a DINK income just to get a fixer upper? 😂 by the time you're able to buy that you've spend half your income on the rent and thus the money you needed to finance that fixer upper. You'll be past 30 to get kids and at the end of your fertility. No fucking wonder no one has kids ey? Ah but its probably the avocados they bought 🤣
But where else would you park your money for a decent return? Stock market? You’d have been wiped out over these last few years, you’d have made capital losses. Property is still a good long term investment (I hope).
@@kellywalker4494 I definitely lost some on the stock market, if I'd just left it in cash I'd have been better off especially now that we can get 4% on savings. I'm not ruling out BTL again but I'm in no rush. I'm currently 50/50 cash and global index funds waiting to see if we get a bigger crash in which case I can go on a buying stocks or houses at cheaper prices with the 50% cash and if nothing much happens I'm still getting some income from interest and dividends etc without dealing with this gov and bad Tennant's.
@@kellywalker4494 US and Australian stock markets have delivered very good returns, if you've been in the right sectors; FTSE returns have been modest. But property - yes, it's absolutely a good investment longer term.
As a private tenant who has always paid on time, done the painting and decorating, kept the property in good nick, I have no sympathy.....what goes around comes around as they say!!!
50% of tenants are psycotic gits .. like you say what goes around comes around .. just expect renting to get even harder and when you can find a landlord willing to rent to you they will want a property owning guarantor for starters!
I am a good landlord. Lovely modern property, tenant has just left after 3 years. Property filthy. Electric cables on light fitting just pushed up in ceiling where they took their light fittings down. Broke control panel on my dishwasher, broke washing machine by washing plastic pieces and nails in washing. Broke 2 toilet seats. Did not leave garden tidy. Walls all needed painting. Broke fridge freezer drawers. Broke kitchen doors, pushed back out of cupboards. Well just be aware good landlords do have bad tenants.
Same. I did buy my way out by getting a mortgage myself. (Best thing I ever did). I had two bad landlords in a row. Leaking roof, which caused mold. Landlord said the mold was "aethetic" until I linked them the gov legislation saying the landlord needs to fix mold caused by leaks etc. Then she dragged her feet and after TWO YEARS it still wasn't fixed. She claimed on the insurance and told me she got a payout, but then still never bothered to fix it. First one similar issue, but that was a broken heating system. Just got told "will sorty it soon!" Soon never came. I'm sure there are great landlords out there (my sister's landlord is lovely) but the reputation is deserved.
New Zealand brought in same No tax deductibility for landlords recently, much later than UK and house prices are 30% down in major city centers. Rents can't be increased as people can't afford and it is expected house prices to collapse further and rental crisis deepen further.
I’m seeing ‘house for sale’ signs everywhere and prices on Right Move constantly being reduced. It’s not just landlords trying to sell up fast before house prices drop further.
The suggestion of government subsidies to landlords for home insulation is outrageous. Yet another suggestion for a transfer of wealth from the working poor to the landed gentry. Landlords treat property as an investment - I'm afraid there are risks to investment that they should not be uniquely shielded from.
I think there should be government subsidy for all insulation and energy saving to make it happen. Ultimately, everyone will benefit. Wealth inequality is something we need to tackle, but in different ways.
@@economicshelp they tried it Italy and it further increased value of properties so now it is even more difficult to buy them; the one who gained the most older generation and wealthy individuals
@@economicshelp Cut it whichever way you want, it's a transfer of wealth from the poor to the rich. You've talked about inequality in the UK in several videos, yet you think a tax handout to landlords is somehow justified? If they are operating in the market to make a profit then make them reinvest that profit or make them sell up. Sick to death of the handwringing, landlording in the UK has become a joke, just exploiting the poor and the unlanded. It's a bad take from this channel to be supposedly putting out facts in your videos whilst suggesting highly political solutions in the comments.
Explain to me why anyone should pay for the whims of whatever the government chooses to do? If they want to pursue their pointless net zero agenda, they can pay for it.
@economicshelp Do you think the 'Conservative' government should continue to artificially inflate the housing market by using taxpayers money to give to first time buyers to get on the property ladder just so they can garner more votes from people who keep seeing their house value ludicrously go up? Or do you think they should 'let the markets decide', stop giving out taxpayers money, people then can't afford to buy at the ridiculous over inflated prices so the market has to drop prices back down to TRUE market value (which will be dressed up as a massive market 'crash') costing them even more votes than their incompetence at running an economy has already cost them? I've been waiting for 20 years for this faux economics to fall apart, I'm surprised they've been able to rig the markets as long as they have tbh.
I noticed the landlord expects his tenants to cover his whole mortgage. So basically tenants are buying houses for other people. All those tenants could buy those houses for themselves if the mortgage market wasn't fixed.
If gov want to know, many landlords will be willing to tell you not only in Uk but also in many communities inthe US. Straightening tenants rights and rent controls mean landlords no longer will rent out apartments.
My girlfriend is now looking at selling her studio flat in central Birmingham because the costs are so high it's costing her money. The interest repayments will jump at least £200/month. There's a landlord registration fee of £700 every 5 years she has to sign up for as well. The maintenance people, their charges have shot up too. Rents may be shooting up but a lot of tenants are signed into 3 year contracts so they're getting the rent artificially low. There is no point in being a landlord now
The risks are so high now for landlords, i really see very little reason to own them, when you can get more or less guarantied 8 percent average returns over the long-term on the stock market that will compound You never have to pay fees to letting agents. no more having to keep up to date with housing regs, never having the risk of a non paying tenant sitting in your home for a year. no court fees. no damage to repair. no late night call out. Very little down side. My personally, i have moved towards a US tracker. something similar to the SP and best of all. SOOO MANY TAX BREAKS !
Great Video - It covers all the bases I know of and then a few more. Even the breaking news on the prospective new eviction legislation. Unbelievable how thorough you are! Are the HMO licenses like the ones we had in our Borough? They set standards for occupancy levels and the quality of the accommodation along with standards of good landlord behaviour. All enforced with tenants able to report their landlord and the potential of loss of license and criminal courts. This is so overdue, our big cities have far too many rented properties which are at slum levels and overcrowded too. The Borough had to drop the scheme when the government removed the enabling legislation.
So private renters expect to be subsidised, by the tax pay, at only by £475.00 per month. [ View at 1.27] ... Madness. We need to return to the days of personal responsiblity.
I have a house I rent out, that was my family home, left to me by my parents. It’s my pension now I’m retired. I had the whole thing redecorated last year, plus new flooring throughout. This year alone I’ve paid for a roof repair and have today got the bill to replace the EV ventilation system ( another £3,000). My brother also has a buy to let. After expenses his rate of return is 2%. This year my return won’t be much more, but I like the house to be beautiful for my tenants - as good as it would be if I was back living there. However if the interest rate goes up a bit more then it’s a no brainer to sell up and invest - I can get the same rate of return on investing the money - or better - with no hassle, no trying to source tradesmen, no chasing up the supposed management agents etc. Not only that but if the house is empty at all between tenants I no longer have the three months grace period for council tax to get work done - I’m liable for council tax from day one. This means that any planned improvements, or down time, have to be factored into the rent. I’d really like to do some improvement work on it ( no tax relief for that either) but it’s my pension and can’t afford that kind of a hit. I really feel for those seeking housing though. My own (disabled and in a wheelchair) daughter lives and works in London and is about to lose her rental property, and finding it impossible to find anything. I can’t afford to buy there, even if I sold up, so can’t help, so really do see both sides of the coin. The whole system is a mess. I remember as a newly wed in the 1970s it was impossible to find a property to rent - they just didn’t exist. We started in a one room bed sit , shared the bathroom with 15 other bedsits, z bed for a bed, card table for a table, and tiny electric ring for a stove. There were rats in the garden, the other wc was broken the whole time we were there, and police paid regular visits to see some of the other tenants. It was horrible - but we were still grateful to have it. We don’t want to go back to those days.
Plain explanation and all 100% true. I let out a 3 bed flat in London to 4 young professionals. I had 20 applicants in one day before I let it to them 18 months ago and not it worse. I'm selling later this year. When you add up all the costs it just becomes totally pointless; I can take the equity out, buy blue chip stocks and make a much better return without all the hassle and worry. Franky you make it worth keeping the flat I'd have to almost double the rent. All these tenants rights people absolutely hate landlords and don't shup-up about tenants rights; let's see how many right tenants have when they're all totally priced out and back at their parent house in their 30s.
With more than 2 households in each property check for local landlord licensing And for local HMO licensing and get licensed asap or your could get an RRO stuck on you, ouch !
@@brianlopez8855 I have thank you. But, mad thing was, I applied while to place was empty being refurbished, but the council (LB Camden) officers told me I couldn't apply for an HMO licence UNTIL it was let..yep..they forced me to let it unlawfully before I could apply for a licence that could potentialy be refused. I asked what th chance of arefusal was..they said out of thousands they had only ever refused 3. Then after taking the £750 fee they took a YEAR to send an officer to look at the place, who took 1 hour. They only wanted very minor changes (extra plug sockets in rooms, extra kitchen vent etc) but it was still 2k to keep them happy. The laxity any incomptence of the councils and courts is actuallly my No1 concern with the s21 and EPC changes etc.
if@@sirrodneyffing1 I deal with RRO appeals and is not a pretty sight. Landlords generally lose up to a years entire rent back to the tenants who were living there leave it to the last minute or after they have left to make a claim. Got to get clear written confirmation from the Council or they might change their tune.
Note that the government makes money out of rent paid by tenants to private landlords. The landlord has to declare his income and as most are working or retired any rent income will more than likely be taxed - at 20 percent or more depending on the total income of the landlord. Social housing probably does not bring in any income - probably quite the opposite. So it makes me think that may suggest a reason for no governments being really enthusiastic about increasing the social housing stock.
I know very little about the rental market but one thing I have thought may happen is with the increasing pressures on private landlords, there may be more pressure to sell the properties. I think this is all planned. I have a feeling that shell companies in bed with the government will or possibly are buying up these properties to hold on to for now. As house prices fall, they will get more properties for their buck. These shell companies may be operating under new world order views to gain as much property as possible for themselves. This seems to be what is happening with the government offering to buy up farms. It takes the independents out of the market and the companies have more leverage over the masses. the government is operating like a company after all. .Just a thought, will have to see what develops.
As a landlady with a 6 bed house that I renovated lovingly and thoroughly adding tumble dryer, dishwasher, making garden beautiful and maintaining well, I can only say how glad I am to have sold up in 2020 after HMO legislation, tenants who wrecked and damaged the house every year and stole furniture and left incredible mess. I will never do again. I think smaller places possibly easier to manage but friends with places often have tenants who live filthily or won't pay and get away with it.
and i am sure you rent each room to one person so that they cant have any dignity of life, which is not your fault its just horrendous UK and how we live these days
@@diorocks5858 Almost certainly, a house share then wonder why so many people packed in like sardines end up leaving it a mess. It's kind opf predicable really. And I love how the person talks about a dishwasher and a tumble dryer as a "rennovation" as if these aren't basic items.
@@Stettafire that's right greedy landlords expecting 15 different cultures who don't speak English and expecting them to use the same toilet. It's horrendous and none of them should pay rent. The landlord should have sold tickets to the aquarium in order to creat income for her social experiment.
In answer to the person who claimed the number of "private landlords" is still high and quoted percentages. What do those percentages mean? The question to ask is what percentage of rented property is simply a second home kept as an investment by a landlord who rents it just to cover costs and who deals directly with a tenant he/she knows personally. It used to be the majority of properties and that is why rents used to be far lower than mortgages. That percentage is now vanishingly small - almost all properties are managed by agencies of one kind or another, most of whoome don't give a crap about their dependent families and the rents are set to maximise revenues so rise to mortgage levels. In other words, they want every penny you can earn. Housing association rents are only moderately lower because the people they house have less disposable income - and in many cases the rent is subsidised by the taxpayer and the profit still ends up with a bank or other financial institution. Any way you cut it, the modern market is driven by ruthless usury. The market MUST be regulated. The laws of supply-and-demand only work in genuine capitalist markets, they do not apply to markets driven by financial institutions that print money to stoke up private and public debt.
I cant help but think the government is facilitating/forcing the transfer of rental properties from small-time landlords to corporate landlords. I sold my only rental property two years ago to a landlord which had a large number of properties. Sold with a good tenant in place and they immediately increased the rent. I’m glad I got out when I did though.
The government should be reconsidering their policies , any business has the right to claim the cost of production against their income for tax purposes. Like you said in the video it's not really passive income.
Loss of tax relief on mortgage interest is a disaster. Of course the Tories kept the tax relief for the big players with Ltd companies. Disgraceful. Give us tax relief back.
Biggest problem in uk property is the forced service charges and the management companies which truly do nothing but get paid. It’s all left to tenants and landlords and estate agents. Why isn’t anyone discussing that issue?
Good! They are totally responsible for the prices rocketing into unaffordable levels and obviously most can't afford to service their income demands through sky high rents!
Good Landlords are selling up too! rental properties are becoming scarce and rents are soaring in my area, I should complete on the sale of one of my BTL’s on Friday, my old tenant was in tears when I gave her notice as she has to pay an additional £300 pcm for her new rental property, the tenants are the ones paying for the government’s tax policies on landlords and lack of affordable housing.
The legislation then is a bit pointless, right? If the property is rating F because it has sashed windows (3k min to replace) it has an immersion (4k to replace with a gas central heating system - I know I did it last year or 20k to install a heat pump, yes that is what they quoted me, no I'm not entitled to the 5k gov grant) then doesn't have roof insultion (2k) then you basically get an exemption right away. Even though the gov doesn't deem the property fit to rent? Why? Seems counterproductive. Just more busywork.
Landlords provide property to the poor where when sold they are bought by rich who get bigger properties and more second homes. That is my experience as a large landlord that many single people these days wants 3 or 4 bedroom houses and second homes and that the poor are at greater risk of homelessness and overcrowding because successive governments have seen landlords as taking from the poor rather than providing a vital service to them! Problem is when rents are 500 for a house up North in places and abiding by modern regs is say 300 a month there will come a stage where there are no rental properties as it has been regulated out of existence to the extreme detriment of the poor! Imagine if only silver spoon service was allowed in restaurants then many areas would not have have restaurants and that is what has happened to landlording where it is such an extreme loss maker for new entrants there will be no new entrants and banks have already lost interest in build to rent with interest rates increasing as they can only get 3 or 4 percent yeilds on the sort of projects they were planning so let us see what breaks but my prediction is large scale homelessness much like we see in the USA, a large increase in lodgers and people living with their parents going forward! All the best!
*I GOT EVICTED WHILST IN HOSPITAL* came home to a notice on the door that I had to vacate by 9.00am the next morning - the first thing I knew about it...
@@ellensamir374 - This was actually in Bulgaria. Its a much longer story than this cos I had a 5 year lease on the property - I had paid for the refurbishment up front and got it knocked off the rent over the 5 years X 1.5 So I spent €14k and got €350 a month off the rent = €21k cos the landlord didn't have the money to get it up to code. After 8 months in there I had a longish spell in hospital and he had a MASSIVE incentive to get me out and then re let the property at the full value... I could probably have fought it but I was way too ill after my stay in hospital - I just took my dog and a bag of clothes and went to a hotel, I left every possession behind - at least €50k. But actually, it was the BEST thing I could have done - fighting a court case with an a-hole landlord for years would have delayed my recovery from the brain damage, maybe even stopped it ever happening. And living in a hotel - even a 1 star hotel - was great, I didn't have to think about anything except my recovery. Not even making my own bed...
@@grolfe3210 - I was in hospital with brain damage received in a mugging where I was beaten with metal bars. I was not thinking about the f-king rent but the landlord knew I was in hospital.
Opening our borders to eastern Europeans has caused the shortage & after selling my 3 bedroom house due to a marriage breakup & there is very few places to rent & I was only looking for a single room in a shared house & it's now all on vile apps like my spare room crap. When it costs more to rent a room than what my mortgage was on a 3 bedroom house I was forced to buy a motorhome.
I have a lodger in a small flat. It is a risk if you don't know the person. Luckily, I did. If buy to let is a business then bad tenants and bad letting agents are the risk. Is it unfair to kick out a tenant that doesn't pay rent? No. But a lot of investors are there for the money and they have used Section 21 to increase rents even before interest upticks. I am sure if current landlords leave others, probably corporations will replace them or families will get houses. Maybe it's time to try serviced accommodation. My sister tried it and it was a disaster.
The Finance No. 2 Act 2015 only affects mortgage-reliant landlords. This is tokenism. Who gets to buy up the properties released to the market? Not prospective owner-occupiers, because there's been no improvement in affordability since the Act came into effect. Instead, the properties can be snapped up by non-mortgage-reliant landlords. It's no coincidence that Legal & General became the UK's first trillion-pound investor in commercial and residential UK real estate in January 2019, despite its CEO previously having spoken out about the lunacy of the first Help2Buy scheme in 2013.
The business model based on ultra low interest rate is not a business case. It is utter opportunism and inability to assess the risk. I wouldn't even call many of them landlords, a bunch of chancers, and the worst people to deal with when it comes to repairs or extending the agreement. There are exceptions, of course.
So landlords being squeezed a bit is propbably a good thing, as the videos says, landlords generally do not have a good reputation. Lets's hope good landlords who are not under capitalised can afford to stay in. Also the Mortgages will drop to a lower start point so more can afford to buy.
All those people cheering for the exodus and suffering of private landlords are cutting off their noses despite their face. I want to be clear, we’re talking PRIVATE landlords, not those in limited companies. The Tories have taxed them into the ground and increased their liabilities exponentially. Ltd companies however - no tax penalties and as the name says, limited liability. This means we are going to see 3 things: 1. Rental properties will become harder to find. 2. Rental prices for those that remain will increase exponentially. 3. The rise of rental properties provided by limited companies such as investment groups. This will give rise to lower standards as well as sustained, higher prices due to market control. So cheer now if you wish - but if you rent - you will suffer. Your children will DEFINATELY suffer. You can be certain that the government will never build social housing again.
Landlord since the 80s currently building to rent. Interest rate has hit hard and currently stopped building and only interiors to complete on four units to save cash to prop up portfolio. Q. Why can’t the tax system allow you to claim back the initial amount paid for the property and not the remortgage valve it used to be ?
When Housing Benefit stopped being paid to landlords, it sent the message to tenants that paying their rent is less important than paying their other bills. That in turn sent the message that landlords don't actually deserve any money, so they must be crooks, to be treated however tenants feel. Why would anyone who has ended up with a "spare house" want to rent it out any more?
The buy to let (intrest only ) is the reason behind this... it should have been a repayment mortgage, this way landlords dont get greedy with the cashflow and focus on equity back when houses were cheap.. now there is no way to revert this, and if you make BTL payment mortgages you will have to pay an arm and a leg and maybe make a loss every month. or it would make rent extremly high. The system is ruined. a Reset could help.
The rented stock level is less than 19% of the entire market. It is not the cause of housing you are led to believe, it is a scapegoat. I hear the same nonsense regurgitated over and over again. Do your research properly before reciting what you've been fed. Our net immigration last year was over 500,000. We delivered, not under construction, or planned, actually delivered just over 38,000 homes last year in the UK. This, is the problem. We don't have a planning system that works. Low labour force, wages are now much higher Material costs are much higher Land is finite in areas of infrastructure None of you are tackling the real issue here, you need to be angry at the government for not fixing the planning system, the supply lines of materials and labour, not building infrastructure to areas of green belt to create new towns rather than adding to existing ones. And lastly, mass immigration without the ability to provide enough homes.
Or landlords can find a real job and stop speculating with the fundamental right of having a decent home. Thanks for the video, as clear and explanatory as always!
My landlord does NO maintenance whatsoever!!! and lets not forget inflation affects tenants also. My neighbours landlord just increased her rent by 150 pounds a month, she can't afford it so she will be homeless with two kids. Despite not ever defaulting on her rent. The landlord meanwhile is driving around in a top of the range brand new Mercedes, and has 6 other houses. She has been in the house 4 years. How's that for loyalty to someone who really takes care of his shitty home.
How is the 2%-5% ir on interest only vs repayment calculated. Is the repayment an average over the 25 years? or is it what a person is paying today?. I don't see how a larger number effected by the same % raise has a lower change.... Especially when repayments are higher because it factors both interest & paying down. Also if it's that's it's an average monthly payment over 25 years, why is that the appropriate number when we're talking about what you'd have to face today?
a shortage of renting properties?? where are you from? Iceland? the amount of properties snatched for renting in south-east is beyond anything in the last 20 years
I understand that a lot of landlords are only in it for profit and there way of making money is a form of rent seeking. But there is good small landlords. Also these new regulations are their to drive the small landlords out of the market. This is so big corporate landlords can buy up all the property. The same regulations wont apply to them eg Ireland. The big corporate landlords will mostly focus on renting the properties to the government to house migrants for crazy rates while getting exemptions from all the regulations that drove small landlords away.
Councils need to take intermediary medium term leases from all the "incompetent" private landlords and they can sub-let them on at a profit rent to cover their costs, to whoever they want to and to show us all how its done "properly" protecting the vulnerable tenants from the nasty landlords too. Some Councils have done it for years.
I thought if you can’t get the EPC to level C unless you have to spend a specific amount c£3,800, then you can get an exemption certificate. Some houses wouldn’t ever be able to be made a C
when the big banks and hedge fund's get into the property market big time just watch all the current landlord rules simply fall away ... rules for us but not for them!
PRC builds (even those that have been repaired) cannot reach C since they can't have cavity wall insulation or underfloor insulation. So, these houses the gov themselves built cannot be C :P
The right of renters should be respected and protected more in the UK. Of course this will change the dynamic of BTL market, so what's the big fuss? We cannot allow insecure housing for millions to keep the secure investment route for the thousands on top. They should find a better way to invest their money.
How did we ever manage before this massive boom in private landlords. Whatever it was that’s what needs to happen again people being able to afford to buy their homes & not rely on overpriced & often substandard accommodation from private landlords. Most private landlords if they were brutally honest view tenants as a necessary evil to fund their property investments. The word social housing when applying it to the private rental sector is a joke.
Good. About time they started cracking down on Landlordism. So what if they make a short term loss when many have profited from renting out multiple properties in the long term.
It’s disengenuous of landlords to ignore the rises in capital value on their property and just look at the costs of servicing mortgage. If you have a mortgage it’s not really your money in first place …so should still be happy to own a property and still have most of interest paid by someone else…..especially when the value of property was rising year-on-year
@@Stettafire are you trying to say interest only mortgages are illegal? There’s hundreds of thousands, if not millions of them! Landlords use the property as the potential capital to pay off mortgage
Net migration of 100k per year for decades, more people living along, tight plannning regulatios preventing building of new homes and on top of that all the new regulations. These are mostly down to political choices.
Urgent bailout needed for these hardworking landlords that contribute so much to society. The poor buggers can barely even scrape a profit after getting their mortgage paid for them!
@@MinkieWinkle and then prices will drop so ordinary people can afford their own home... like it should be... perfect!!! house prices went astronomical because of greed and speculation... instate laws so you can only own the house you live in + 1 more (for when you swap to a new house) and that one needs to be on sale for a marketable price so it actually sells...
@@LiLBitsDK that is all well and good for those in a position to buy. It would be a great opportunity for them. However, what about the renters being kicked out? If they were is a position to buy, they wouldn't be renting. They will have nowhere to go. As very few renters actually have a deposit in place to buy, they will still need to live somewhere.
Just could be the way they our having to fight for the rent some tenants owe landlords hundreds ,the landlords have to take them to court , but never a chance of getting arrears owed then , our left with house unfit to live in so thousands have to be spent to clean them up ,and the hope the next tenant will be a decent person and you ask why most our selling up
I've not been selling and I'm still buying. But I don't rent to long term tenants anymore, too risky and not enough income to make it worthwhile. Also I'm finding the best ones are commercial shops with floors of rooms above I can convert to apartments and rent.
@@robertjones2053 Are you under the impression that housing developers are putting 33% of their completions to affordable housing? You clearly have no clue. Probably a boomer that cashed in on housing and restricting the supply from later generations. Pathetic mindset
Some sectors may see a drop post covid. Many universities now offer more on-line courses so there may be a drop in students living in. The drop is quite small. There is not a huge margin in renting. A £400 rise in interest payments is quite common with an average level of borrowing and that will wipe out any profit and more. How can they sustain a loss of say £200 per month? I have a house that barely scrape a profit and have just paid £2,600 for a new boiler. The expectation is that the high interest rates will not last and so I will hang on and hope. I certainly would not want to evict anyone to see the house.
Good - I hope you go bust, housing shouldn't be there to make you a profit. Hang on as long as you can, when regulations come into force making you upgrade the EPC rating you will be forced out anyway, rightfully so.
@@cruelco My houses are of excellent standard, two are only 5 years old and they far exceed the new EPC level. My tenants are people who choose to rent rather than buy. You seem keen to take that option away from them. I guess you are just bitter as you want the world to give you a free house.
@@grolfe3210 Affordable maybe, people get pissed off that wages are dogshit but rents are sky high forcing people away from family. No one wants free housing but they want it to not be totally divorsed from reality.
@@hammerofolympia3716 Two people earn minimum wage and rent a one bed house. House is £800 pcm so ££9600 year. earnings £10.42x 36 hours x 52 x 2 = £39,012. So about 25% of earnings spend on getting a house that is looked after for you. What is the problem with that?
@@grolfe3210 you should be a politician with that amount of massaging numbers. Based on 2, pre tax amounts of wages and still paying 50% wages for a £800 quid single bed apartment is entirely reasonable lol. Now realistically someone single paying £800 out of 1200-1400 a month then having to pay bills is already broke. I live in an area where housing is much more reasonable- 3 bed for £550 and even then landlords cant shift properties because people don't want to work to just pay rent and bill's.
wouldn't the demand for rent fall at the same pace as the supply for rental properties, If landlords are net property sellers then presumably there are first time buyers who no longer renting and instead owning their home?
I own 2 BTL houses and Iam a basic rate taxpayer , retried and living overseas, I have never had it so good and Iam not the only one, it's not all doom and gloom.
Sounds like you must have good tenants ? You may not be as smug if you had tenants that don't like paying their rent. Especially if you live abroad and far from your properties as dealing with tenant issues would be extremely difficult.
Sick of demonization of landlords. Nice overview 😊The fundamental problem with the UK is that property prices are just too high. That hamstrings all property owners .
Never met a decent landlord in my life. Every time a landlord says there’s decent tenants here they turn out to be the cocaine and heroin dealers of the fucking neighbourhood. I suppose it’s a class thing I was born in a ghetto I’ll die in a ghetto.
While I love the UK dearly I’m amazed at the level of taxes, how expensive it is and how the supposedly business friendly Conservative government has increasingly shafted landlords. Thank God I don’t live in post-Brexit Britain.
Cannot understand why anyone would choose to be a private landlord right now. There are far more income efficient, risk reducing and less bureaucratic ways of generating an income than BTL. I think the end of the year stats, will prove very sobering for the government. You reap what you sow 😢
I want to see the government take half of your properties off you so people like me can actually have somewhere to live. You don’t need £5000 a month to live on get used to an extra 1500. I’ve been living under a bridge for 17 months I can’t even find a shitty room to live in
@@carollane8694 tell me about it ! All these Johnny come lately idiots. I got into it professionally a long time back and will see the back of them long before I quit.
I'm an ex landlord in the UK, and would NEVER, EVER, consider becoming one again. My experiences left me scarred, and severely out of pocket. I'm sure there are some decent, honest, renters out there, and I feel for them. However, the ones who deliberately abuse their positions, don't pay their way, sublet, damage property at end of lease, etc.,, and there are vast numbers of them, can sleep in the gutter. But not outside my house. I'll hosepipe them if they do.
The demand for properties to rent is rising because of high house prices, as many renters (probably most) would rather buy if they could afford to. So landlords selling up would help reduce these ridiculously high house prices, which would enable more people to buy, thus reducing demand for properties to rent. You make it sound as if landlords selling up reduces the housing stock, whereas increasing supply of course helps lower prices.
*THE INTEREST RATE HAS GONE UP* translation "I made a bad financial decision and I expect you to feel sorry for me, and if you are my tenant I expect YOU to pay for my bad financial decision"
@@heckings What a silly question.😊 Picallili Pit above will take a £500k+ mortgage to buy a property and rent it out at 0% profit margin. As will all those who do not like private landlords. Problem of greedy landlords solved. 😉
@@heckings OHHH BOOO HOOO did you make a bad financial decision??? MAYBE YOU should have saved some money from the good times to ensure YOU could afford the mortgage when YOUR mortgage rate went UP do YOU coulda afford YOUR mortgage instead of expecting YOUR tenants to pay for YOUR bad decision...???
More detail on the general problems of the UK housing market. studio.ruclips.net/user/videoX2KHBkiEKOw/edit
Moved to AUS with the intention of coming back. Rent out our house in London. Getting taxed twice was a pain but what did it for us was the last tenants who decided to sublet (bedrooms in every room, 4 fridges innthe kitchen, partitioning the through lounge) and the estate agents lack of action. Got sick and tired of the whole thing.
Australia is no better house prices are at a record high. renting has become unaffordable many familys are becoming homeless builders and developers going into liquidation it's a mess.
@@wally1166 Yep, even worse than the UK. It's more of a ponzy scheme than the UK due to housing and second homes for rental suits only a small group of people.
@@wally1166 Australia is appalling. Democracy is crumbling at a rate of knots and property prices are going through the roof. Still went up another 2pc last quarter here in Perth, property prices on the east side are starting to increase again and lots of the houses here have zero character. I'd honestly rather be in the UK; don't feel safe here anymore, after getting locked into the country for 2.5 years when only in Australia to look after my daughter who was having an op.
@@sunshinegirl4715 I don't blame you Australia not the place it once was and its far from a lucky country
@@wally1166 The whole lucky tag is a mythical propaganda. It was only 'lucky' for a group of people. Not for others.
After 16 yrs traditional renting, two sitting tenants and imminent removal of Section 21 I've left the market. Just too risky now.
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people at least in California, where I currently reside are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of finances and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
Personally, I can connect to that. When I began working with "Colleen Janie Towe," a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
@@williamsbrown4026 Please how do I connect to her? My funds are being murdered by inflation, and I'm looking for a more profitable investing strategy to put them to work.
@@UshnicYuvnikof Colleen Janie maintains an online presence that can be easily found through a simple search of her name on the internet.
@@williamsbrown4026 Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.
My landlord is selling the property and I am asked to leave as he is now making a loss due to section 24. I am blaming the government for all these anti-landlord laws. There is a serious shortage of rental properties on the market now and I am really struggling to get a rental property in my area.
Thank you, it’s wonderful to see a video raising current issues from the landlords side for a change. Great video, very informative and hopefully will make tenants see things in a different light. We are aware of their problems but no one is aware of ours.
I do like how it didn't villify landlords BUT it also didn't villify tennents either. I think it was very fair.
Landlords complacently abused the low interest rates and lived off the rent when they should’ve paid the debt off and rented it mortgage free
I suspect my (newly FORMER) Landlord was one of them. Seemed to take two or three holidays every year. And yet now that interest rates are rising, suddenly he's "getting stung" by mortgage rates. He's owned and rented out my (old) house for at least 10 years, and he's probably been retired for about as long. He was an Ex Police Officer/Detective, so he would have been on a very good wage.
I was surprised that there was still a mortgage on the property, given that he used to live there himself before he rented it out 10 years ago (to a previous tenant).
He now owns at least three properties (one of which being his own home).
So I strongly suspect he was living off the profits of his Letted properties and supplementing his retirement lifestyle instead of paying them off ASAP.
@@Edithae sounds like he drew down on his own house to buy more properties to get more rent. Fr, low interest mortgages have been spoiling us for a long time now since 2008 I think, so they’ve had plenty of time to pay them off or at least take a big chunk out of them. But ofc they kept expecting the interest rates to stay low but as they’ve increased and probably won’t go back down they’re about to understand they can’t have the lavish lifestyle they wished to have. A retired landlord should know not to draw down too much on a property at least not over 50% so that he/she has plenty of equity to fall back on and not get high mortgages because ultimately all mortgages do is rob them of more money than they used to buy the house
That's not how you use debt to generate wealth. Do you see any major financial institutions paying off their debts? Or do they keep growing it. Most normal people don't understand debt, they even think it is terrible that debt levels keep increasing thinking it's a bad thing, when actually it isn't.
Debt is how money is created, once you understand this and use it to your advantage, you'll find your position will drastically improve.
I started with nothing, and I will never pay any of my debts off on any property, even my own. My children will also inherit those debts as they will be taught how to use those debts to their advantage.
This is how generational wealth is created.
@@user-gz6tx6yp3v debt is a very powerful thing, but it means you’re always exposed to exterb factors that are outside your control. Sure you can put debts down to recover funds that otherwise would’ve been put into taxes. But ultimately, you don’t own anything when you have debt - the banks own your assets and your mortgages are traded amongst banks. Some people are comfortable with debt, others prefer the old fashioned way. They like the peace of mind of being in total control and taking limited risk debts. It’s about what type of person you are
@@jakkuwolfinsomnia8058 If you use multiple lenders and keep your LTV's at 60% it is very safe.
I've got to object to your introductory premise. It isn't the number of landlords who are selling up, it is the number of properties that matter. The fact is, the number of individual landlords has been falling for years and those that remain are almost all dependent in reality on Property Management agencies. They are more like shareholders than real landlords. Actual ownership is often a big secret, especially with the biggest property manager of the lot - Countrywide - and what they are hiding is the huge amounts of money slipped into property portfolios by financial speculators and investment managers. Housing has become a traded commodity in the financial markets (which it absolutely should not be) and a lot of that unwanted inflationary investment is foreign and dirty (oligarchs, drug dealers, embezzling despots). This centralisation and monopolisation of property ownership is the reason for both sky-high prices and scarcity and numerous other woes (including the destruction of tenant rights and home security). Yes, over-regulation is one reason for the decline in real landlords but the real problem is the financialisation of housing and the corrupt politicians with their fingers in the till.
You have just made all that up! Government figures are available on line. 94% of landlords are private individuals and 85% of landlords have 4 or fewer properties. 40% did not even intend to be landlords and just let out a house they either lived in or inherited.
There is no monopolisation of property. The vast majority is owned by the person living in the house. The market is not controlled by any group. The biggest owner is the the local authority or their housing association as it has been for 75 years.
Most people can and are getting into home ownership. There is a blip in this at the moment but FTB has been at decent levels in recent times pre covid.
Nonsense. Less than 19% of the UK stock is rented accommodation. Of the trusts building PRS this is concentrated in high volume apartment blocks in city centres so the numbers work. The rental market is not as big as people think, but people focus on that as the reason for the market woes by design because it takes the focus of the real perpetrators of the housing crisis which is the government. Planning system, Green initiatives driving up costs and reducing available land to build, high immigration etc etc.
@@user-gz6tx6yp3v bullocks again. There are basically no properties for normal income households to buy, they are all forced into the rental market due to this situation. Yes all the old generations live in owned properties from when the times were good. People who are in their 60's and don't need large homes to raise families in and they own the vast majority of the housing stock but for newcomers to the market? Table scraps at best with sky high rental costs that make it impossible to actually build up your finances to buy your own home. The market is in a choke hold and the poorest and most weak are paying just to stay alive.
@@BrutusAlbion Not true at all. There's plenty of opportunity if people move a little further out and buy a fixer upper. You can still get houses for £280k, 28k down and 2 people earning. It's no different now than it was for our parents. They grafted and saved, old furniture cars etc.
@@user-gz6tx6yp3v sure buddy, sure. And where's the low-income housing hmmm when you need a DINK income just to get a fixer upper? 😂 by the time you're able to buy that you've spend half your income on the rent and thus the money you needed to finance that fixer upper. You'll be past 30 to get kids and at the end of your fertility.
No fucking wonder no one has kids ey? Ah but its probably the avocados they bought 🤣
I used to own 2 BTL but saw the writing on the wall with George Osborne - so sold them both several years ago and very glad I did.
Same here, BTL was a headache anyway with bad tenants crooked agents and gov that was out to get landlords.
But where else would you park your money for a decent return? Stock market? You’d have been wiped out over these last few years, you’d have made capital losses. Property is still a good long term investment (I hope).
@@kellywalker4494 I definitely lost some on the stock market, if I'd just left it in cash I'd have been better off especially now that we can get 4% on savings.
I'm not ruling out BTL again but I'm in no rush.
I'm currently 50/50 cash and global index funds waiting to see if we get a bigger crash in which case I can go on a buying stocks or houses at cheaper prices with the 50% cash and if nothing much happens I'm still getting some income from interest and dividends etc without dealing with this gov and bad Tennant's.
@@kellywalker4494 US and Australian stock markets have delivered very good returns, if you've been in the right sectors; FTSE returns have been modest. But property - yes, it's absolutely a good investment longer term.
As a private tenant who has always paid on time, done the painting and decorating, kept the property in good nick, I have no sympathy.....what goes around comes around as they say!!!
50% of tenants are psycotic gits .. like you say what goes around comes around .. just expect renting to get even harder and when you can find a landlord willing to rent to you they will want a property owning guarantor for starters!
I am a good landlord. Lovely modern property, tenant has just left after 3 years. Property filthy. Electric cables on light fitting just pushed up in ceiling where they took their light fittings down. Broke control panel on my dishwasher, broke washing machine by washing plastic pieces and nails in washing. Broke 2 toilet seats. Did not leave garden tidy. Walls all needed painting. Broke fridge freezer drawers. Broke kitchen doors, pushed back out of cupboards. Well just be aware good landlords do have bad tenants.
Sounds like pure jealousy to me… not every human being who’s a landlord is irresponsible
Same. I did buy my way out by getting a mortgage myself. (Best thing I ever did). I had two bad landlords in a row. Leaking roof, which caused mold. Landlord said the mold was "aethetic" until I linked them the gov legislation saying the landlord needs to fix mold caused by leaks etc. Then she dragged her feet and after TWO YEARS it still wasn't fixed. She claimed on the insurance and told me she got a payout, but then still never bothered to fix it.
First one similar issue, but that was a broken heating system. Just got told "will sorty it soon!" Soon never came.
I'm sure there are great landlords out there (my sister's landlord is lovely) but the reputation is deserved.
New Zealand brought in same No tax deductibility for landlords recently, much later than UK and house prices are 30% down in major city centers. Rents can't be increased as people can't afford and it is expected house prices to collapse further and rental crisis deepen further.
I’m seeing ‘house for sale’ signs everywhere and prices on Right Move constantly being reduced. It’s not just landlords trying to sell up fast before house prices drop further.
The suggestion of government subsidies to landlords for home insulation is outrageous. Yet another suggestion for a transfer of wealth from the working poor to the landed gentry. Landlords treat property as an investment - I'm afraid there are risks to investment that they should not be uniquely shielded from.
I think there should be government subsidy for all insulation and energy saving to make it happen. Ultimately, everyone will benefit. Wealth inequality is something we need to tackle, but in different ways.
@@economicshelp they tried it Italy and it further increased value of properties so now it is even more difficult to buy them; the one who gained the most older generation and wealthy individuals
@@economicshelp Cut it whichever way you want, it's a transfer of wealth from the poor to the rich. You've talked about inequality in the UK in several videos, yet you think a tax handout to landlords is somehow justified? If they are operating in the market to make a profit then make them reinvest that profit or make them sell up. Sick to death of the handwringing, landlording in the UK has become a joke, just exploiting the poor and the unlanded. It's a bad take from this channel to be supposedly putting out facts in your videos whilst suggesting highly political solutions in the comments.
Explain to me why anyone should pay for the whims of whatever the government chooses to do? If they want to pursue their pointless net zero agenda, they can pay for it.
@economicshelp Do you think the 'Conservative' government should continue to artificially inflate the housing market by using taxpayers money to give to first time buyers to get on the property ladder just so they can garner more votes from people who keep seeing their house value ludicrously go up? Or do you think they should 'let the markets decide', stop giving out taxpayers money, people then can't afford to buy at the ridiculous over inflated prices so the market has to drop prices back down to TRUE market value (which will be dressed up as a massive market 'crash') costing them even more votes than their incompetence at running an economy has already cost them?
I've been waiting for 20 years for this faux economics to fall apart, I'm surprised they've been able to rig the markets as long as they have tbh.
I noticed the landlord expects his tenants to cover his whole mortgage. So basically tenants are buying houses for other people.
All those tenants could buy those houses for themselves if the mortgage market wasn't fixed.
If gov want to know, many landlords will be willing to tell you not only in Uk but also in many communities inthe US. Straightening tenants rights and rent controls mean landlords no longer will rent out apartments.
My girlfriend is now looking at selling her studio flat in central Birmingham because the costs are so high it's costing her money.
The interest repayments will jump at least £200/month.
There's a landlord registration fee of £700 every 5 years she has to sign up for as well.
The maintenance people, their charges have shot up too.
Rents may be shooting up but a lot of tenants are signed into 3 year contracts so they're getting the rent artificially low.
There is no point in being a landlord now
Sell up and cash in on the capital gain whilst increasing supply for prospective owner-occupiers. Win-win.
Good
Good. Housing should not be treated as an investment.
good... she shouldn't own it when she isn't living in it
The risks are so high now for landlords, i really see very little reason to own them, when you can get more or less guarantied 8 percent average returns over the long-term on the stock market that will compound
You never have to pay fees to letting agents. no more having to keep up to date with housing regs, never having the risk of a non paying tenant sitting in your home for a year. no court fees. no damage to repair. no late night call out.
Very little down side. My personally, i have moved towards a US tracker. something similar to the SP and best of all. SOOO MANY TAX BREAKS !
Great Video - It covers all the bases I know of and then a few more. Even the breaking news on the prospective new eviction legislation. Unbelievable how thorough you are!
Are the HMO licenses like the ones we had in our Borough? They set standards for occupancy levels and the quality of the accommodation along with standards of good landlord behaviour. All enforced with tenants able to report their landlord and the potential of loss of license and criminal courts. This is so overdue, our big cities have far too many rented properties which are at slum levels and overcrowded too. The Borough had to drop the scheme when the government removed the enabling legislation.
So private renters expect to be subsidised, by the tax pay, at only by £475.00 per month. [ View at 1.27] ... Madness. We need to return to the days of personal responsiblity.
I have a house I rent out, that was my family home, left to me by my parents. It’s my pension now I’m retired. I had the whole thing redecorated last year, plus new flooring throughout. This year alone I’ve paid for a roof repair and have today got the bill to replace the EV ventilation system ( another £3,000). My brother also has a buy to let. After expenses his rate of return is 2%. This year my return won’t be much more, but I like the house to be beautiful for my tenants - as good as it would be if I was back living there. However if the interest rate goes up a bit more then it’s a no brainer to sell up and invest - I can get the same rate of return on investing the money - or better - with no hassle, no trying to source tradesmen, no chasing up the supposed management agents etc. Not only that but if the house is empty at all between tenants I no longer have the three months grace period for council tax to get work done - I’m liable for council tax from day one. This means that any planned improvements, or down time, have to be factored into the rent. I’d really like to do some improvement work on it ( no tax relief for that either) but it’s my pension and can’t afford that kind of a hit. I really feel for those seeking housing though. My own (disabled and in a wheelchair) daughter lives and works in London and is about to lose her rental property, and finding it impossible to find anything. I can’t afford to buy there, even if I sold up, so can’t help, so really do see both sides of the coin. The whole system is a mess. I remember as a newly wed in the 1970s it was impossible to find a property to rent - they just didn’t exist. We started in a one room bed sit , shared the bathroom with 15 other bedsits, z bed for a bed, card table for a table, and tiny electric ring for a stove. There were rats in the garden, the other wc was broken the whole time we were there, and police paid regular visits to see some of the other tenants. It was horrible - but we were still grateful to have it. We don’t want to go back to those days.
The council tax is a yikes for sure.
it's one house so how can you have tenants, do you mean one family stays there? Or did you do the tin of sardines social experiment?
Plain explanation and all 100% true. I let out a 3 bed flat in London to 4 young professionals. I had 20 applicants in one day before I let it to them 18 months ago and not it worse. I'm selling later this year. When you add up all the costs it just becomes totally pointless; I can take the equity out, buy blue chip stocks and make a much better return without all the hassle and worry. Franky you make it worth keeping the flat I'd have to almost double the rent. All these tenants rights people absolutely hate landlords and don't shup-up about tenants rights; let's see how many right tenants have when they're all totally priced out and back at their parent house in their 30s.
With more than 2 households in each property check for local landlord licensing And for local HMO licensing and get licensed asap or your could get an RRO stuck on you, ouch !
@@brianlopez8855 I have thank you. But, mad thing was, I applied while to place was empty being refurbished, but the council (LB Camden) officers told me I couldn't apply for an HMO licence UNTIL it was let..yep..they forced me to let it unlawfully before I could apply for a licence that could potentialy be refused. I asked what th chance of arefusal was..they said out of thousands they had only ever refused 3. Then after taking the £750 fee they took a YEAR to send an officer to look at the place, who took 1 hour. They only wanted very minor changes (extra plug sockets in rooms, extra kitchen vent etc) but it was still 2k to keep them happy. The laxity any incomptence of the councils and courts is actuallly my No1 concern with the s21 and EPC changes etc.
if@@sirrodneyffing1 I deal with RRO appeals and is not a pretty sight. Landlords generally lose up to a years entire rent back to the tenants who were living there leave it to the last minute or after they have left to make a claim. Got to get clear written confirmation from the Council or they might change their tune.
@@brianlopez8855 Yes I know. I told you, I have a HMO licence.
oh awesome you must be so proud of your social experiment. Get the idea from a tin of sardines, did you?
Note that the government makes money out of rent paid by tenants to private landlords. The landlord has to declare his income and as most are working or retired any rent income will more than likely be taxed - at 20 percent or more depending on the total income of the landlord. Social housing probably does not bring in any income - probably quite the opposite. So it makes me think that may suggest a reason for no governments being really enthusiastic about increasing the social housing stock.
I know very little about the rental market but one thing I have thought may happen is with the increasing pressures on private landlords, there may be more pressure to sell the properties. I think this is all planned. I have a feeling that shell companies in bed with the government will or possibly are buying up these properties to hold on to for now. As house prices fall, they will get more properties for their buck. These shell companies may be operating under new world order views to gain as much property as possible for themselves. This seems to be what is happening with the government offering to buy up farms. It takes the independents out of the market and the companies have more leverage over the masses. the government is operating like a company after all. .Just a thought, will have to see what develops.
This is very good insight and I think pretty much spot on to what’s going on. What power do we have to prevent this though?
Private equity firms definitely have their snouts well and truly in the UK's housing trough.
hope they do and its the end of this social experiment, packing them in like sardines...well you just waisted your life savings as no one is buying
As a landlady with a 6 bed house that I renovated lovingly and thoroughly
adding tumble dryer, dishwasher, making garden beautiful and maintaining well, I can only say how glad I am to have sold up in 2020 after HMO legislation, tenants who wrecked and damaged the house every year and stole furniture and left incredible mess. I will never do again. I think smaller places possibly easier to manage but friends with places often have tenants who live filthily or won't pay and get away with it.
and i am sure you rent each room to one person so that they cant have any dignity of life, which is not your fault its just horrendous UK and how we live these days
@@diorocks5858 Almost certainly, a house share then wonder why so many people packed in like sardines end up leaving it a mess. It's kind opf predicable really. And I love how the person talks about a dishwasher and a tumble dryer as a "rennovation" as if these aren't basic items.
@@Stettafire that's right greedy landlords expecting 15 different cultures who don't speak English and expecting them to use the same toilet. It's horrendous and none of them should pay rent. The landlord should have sold tickets to the aquarium in order to creat income for her social experiment.
Good video. Lots of facts and figures. Good job. Subscribed.
In answer to the person who claimed the number of "private landlords" is still high and quoted percentages. What do those percentages mean? The question to ask is what percentage of rented property is simply a second home kept as an investment by a landlord who rents it just to cover costs and who deals directly with a tenant he/she knows personally. It used to be the majority of properties and that is why rents used to be far lower than mortgages. That percentage is now vanishingly small - almost all properties are managed by agencies of one kind or another, most of whoome don't give a crap about their dependent families and the rents are set to maximise revenues so rise to mortgage levels. In other words, they want every penny you can earn. Housing association rents are only moderately lower because the people they house have less disposable income - and in many cases the rent is subsidised by the taxpayer and the profit still ends up with a bank or other financial institution. Any way you cut it, the modern market is driven by ruthless usury. The market MUST be regulated. The laws of supply-and-demand only work in genuine capitalist markets, they do not apply to markets driven by financial institutions that print money to stoke up private and public debt.
I cant help but think the government is facilitating/forcing the transfer of rental properties from small-time landlords to corporate landlords. I sold my only rental property two years ago to a landlord which had a large number of properties. Sold with a good tenant in place and they immediately increased the rent. I’m glad I got out when I did though.
Hallelujah
Exactly what's happening in the hospitality industry.
The government should be reconsidering their policies , any business has the right to claim the cost of production against their income for tax purposes. Like you said in the video it's not really passive income.
Love your videos please keep going with the excellent and non click bait content! You are like the second Ramin (PensionCraft) on RUclips now 😁
As always, great videos.
Thanks
Loss of tax relief on mortgage interest is a disaster. Of course the Tories kept the tax relief for the big players with Ltd companies. Disgraceful. Give us tax relief back.
Biggest problem in uk property is the forced service charges and the management companies which truly do nothing but get paid. It’s all left to tenants and landlords and estate agents. Why isn’t anyone discussing that issue?
because it should be illegal to pack people into property like sardines.
No landlords mean no rental properties, so where do people live before they want to/ ready to buy their own property? Social housings?
Idk about you but im living with my parents until i have a big enough deposit, I'd rather skip renting all together. Just lookes like a scam.
Good!
They are totally responsible for the prices rocketing into unaffordable levels and obviously most can't afford to service their income demands through sky high rents!
Good. Get rid of all slumlords.
Good Landlords are selling up too! rental properties are becoming scarce and rents are soaring in my area, I should complete on the sale of one of my BTL’s on Friday, my old tenant was in tears when I gave her notice as she has to pay an additional £300 pcm for her new rental property, the tenants are the ones paying for the government’s tax policies on landlords and lack of affordable housing.
@@nigelatkinson2433 BTL landlords are all parasites. Get a job like the rest of us.
@@nigelatkinson2433 fuck off nigel no one cares that you can't be a landlord anymore - get a grip you twat
Where will you live when he or she sells up 😅
Important to note if you can prove the work to get to an EPC grade C is over 10k, you can get an exemption.
The legislation then is a bit pointless, right? If the property is rating F because it has sashed windows (3k min to replace) it has an immersion (4k to replace with a gas central heating system - I know I did it last year or 20k to install a heat pump, yes that is what they quoted me, no I'm not entitled to the 5k gov grant) then doesn't have roof insultion (2k) then you basically get an exemption right away. Even though the gov doesn't deem the property fit to rent? Why? Seems counterproductive. Just more busywork.
Landlords provide property to the poor where when sold they are bought by rich who get bigger properties and more second homes. That is my experience as a large landlord that many single people these days wants 3 or 4 bedroom houses and second homes and that the poor are at greater risk of homelessness and overcrowding because successive governments have seen landlords as taking from the poor rather than providing a vital service to them! Problem is when rents are 500 for a house up North in places and abiding by modern regs is say 300 a month there will come a stage where there are no rental properties as it has been regulated out of existence to the extreme detriment of the poor! Imagine if only silver spoon service was allowed in restaurants then many areas would not have have restaurants and that is what has happened to landlording where it is such an extreme loss maker for new entrants there will be no new entrants and banks have already lost interest in build to rent with interest rates increasing as they can only get 3 or 4 percent yeilds on the sort of projects they were planning so let us see what breaks but my prediction is large scale homelessness much like we see in the USA, a large increase in lodgers and people living with their parents going forward! All the best!
*I GOT EVICTED WHILST IN HOSPITAL* came home to a notice on the door that I had to vacate by 9.00am the next morning - the first thing I knew about it...
That was rotten of them.
1 you are supposed to tell at landlord if you leave the house vacant. 2. Why? Had you not paid the rent perhaps?
Thought it takes 6 months for an eviction?
@@ellensamir374 - This was actually in Bulgaria. Its a much longer story than this cos I had a 5 year lease on the property - I had paid for the refurbishment up front and got it knocked off the rent over the 5 years X 1.5 So I spent €14k and got €350 a month off the rent = €21k cos the landlord didn't have the money to get it up to code. After 8 months in there I had a longish spell in hospital and he had a MASSIVE incentive to get me out and then re let the property at the full value...
I could probably have fought it but I was way too ill after my stay in hospital - I just took my dog and a bag of clothes and went to a hotel, I left every possession behind - at least €50k. But actually, it was the BEST thing I could have done - fighting a court case with an a-hole landlord for years would have delayed my recovery from the brain damage, maybe even stopped it ever happening.
And living in a hotel - even a 1 star hotel - was great, I didn't have to think about anything except my recovery. Not even making my own bed...
@@grolfe3210 - I was in hospital with brain damage received in a mugging where I was beaten with metal bars. I was not thinking about the f-king rent but the landlord knew I was in hospital.
Opening our borders to eastern Europeans has caused the shortage & after selling my 3 bedroom house due to a marriage breakup & there is very few places to rent & I was only looking for a single room in a shared house & it's now all on vile apps like my spare room crap.
When it costs more to rent a room than what my mortgage was on a 3 bedroom house I was forced to buy a motorhome.
I have a lodger in a small flat. It is a risk if you don't know the person. Luckily, I did.
If buy to let is a business then bad tenants and bad letting agents are the risk. Is it unfair to kick out a tenant that doesn't pay rent? No. But a lot of investors are there for the money and they have used Section 21 to increase rents even before interest upticks. I am sure if current landlords leave others, probably corporations will replace them or families will get houses. Maybe it's time to try serviced accommodation. My sister tried it and it was a disaster.
The Finance No. 2 Act 2015 only affects mortgage-reliant landlords. This is tokenism. Who gets to buy up the properties released to the market? Not prospective owner-occupiers, because there's been no improvement in affordability since the Act came into effect. Instead, the properties can be snapped up by non-mortgage-reliant landlords. It's no coincidence that Legal & General became the UK's first trillion-pound investor in commercial and residential UK real estate in January 2019, despite its CEO previously having spoken out about the lunacy of the first Help2Buy scheme in 2013.
The business model based on ultra low interest rate is not a business case. It is utter opportunism and inability to assess the risk. I wouldn't even call many of them landlords, a bunch of chancers, and the worst people to deal with when it comes to repairs or extending the agreement. There are exceptions, of course.
Excellent video and information well explained. Well done
So landlords being squeezed a bit is propbably a good thing, as the videos says, landlords generally do not have a good reputation.
Lets's hope good landlords who are not under capitalised can afford to stay in.
Also the Mortgages will drop to a lower start point so more can afford to buy.
Enjoying your videos. I can see yr becoming more confident and natural on screen.
Yeah it's not worth owning property now, unless you can put up rents to cover.
All those people cheering for the exodus and suffering of private landlords are cutting off their noses despite their face. I want to be clear, we’re talking PRIVATE landlords, not those in limited companies. The Tories have taxed them into the ground and increased their liabilities exponentially. Ltd companies however - no tax penalties and as the name says, limited liability. This means we are going to see 3 things:
1. Rental properties will become harder to find.
2. Rental prices for those that remain will increase exponentially.
3. The rise of rental properties provided by limited companies such as investment groups. This will give rise to lower standards as well as sustained, higher prices due to market control.
So cheer now if you wish - but if you rent - you will suffer. Your children will DEFINATELY suffer. You can be certain that the government will never build social housing again.
Landlord since the 80s currently building to rent. Interest rate has hit hard and currently stopped building and only interiors to complete on four units to save cash to prop up portfolio.
Q. Why can’t the tax system allow you to claim back the initial amount paid for the property and not the remortgage valve it used to be ?
Are you doing a social Experiment with a Tin of Sardines?
When Housing Benefit stopped being paid to landlords, it sent the message to tenants that paying their rent is less important than paying their other bills. That in turn sent the message that landlords don't actually deserve any money, so they must be crooks, to be treated however tenants feel. Why would anyone who has ended up with a "spare house" want to rent it out any more?
The buy to let (intrest only ) is the reason behind this... it should have been a repayment mortgage, this way landlords dont get greedy with the cashflow and focus on equity back when houses were cheap.. now there is no way to revert this, and if you make BTL payment mortgages you will have to pay an arm and a leg and maybe make a loss every month. or it would make rent extremly high.
The system is ruined. a Reset could help.
The rented stock level is less than 19% of the entire market. It is not the cause of housing you are led to believe, it is a scapegoat.
I hear the same nonsense regurgitated over and over again.
Do your research properly before reciting what you've been fed.
Our net immigration last year was over 500,000. We delivered, not under construction, or planned, actually delivered just over 38,000 homes last year in the UK.
This, is the problem.
We don't have a planning system that works.
Low labour force, wages are now much higher
Material costs are much higher
Land is finite in areas of infrastructure
None of you are tackling the real issue here, you need to be angry at the government for not fixing the planning system, the supply lines of materials and labour, not building infrastructure to areas of green belt to create new towns rather than adding to existing ones. And lastly, mass immigration without the ability to provide enough homes.
@@user-gz6tx6yp3v very well said, the government use landlords to be the problem, it gets votes.
Hang about, how is not paying rent NOT grounds for eviction?
Great video as always.
Or landlords can find a real job and stop speculating with the fundamental right of having a decent home.
Thanks for the video, as clear and explanatory as always!
It's a business.
People need to rent.
Some even want to.
I guess hotel owners are scum as well
What do you have against two parties entering into a voluntary agreement?
Shall we also drive bakers out of their business? It could be argued everybody needs bread...
@@lesleywillis6177not exactly voluntary when the option is either paying someone else's mortgage or being homeless
My landlord does NO maintenance whatsoever!!! and lets not forget inflation affects tenants also. My neighbours landlord just increased her rent by 150 pounds a month, she can't afford it so she will be homeless with two kids. Despite not ever defaulting on her rent. The landlord meanwhile is driving around in a top of the range brand new Mercedes, and has 6 other houses. She has been in the house 4 years. How's that for loyalty to someone who really takes care of his shitty home.
Dunno how I found this video but great information and perfect detail
How is the 2%-5% ir on interest only vs repayment calculated. Is the repayment an average over the 25 years? or is it what a person is paying today?.
I don't see how a larger number effected by the same % raise has a lower change.... Especially when repayments are higher because it factors both interest & paying down.
Also if it's that's it's an average monthly payment over 25 years, why is that the appropriate number when we're talking about what you'd have to face today?
a shortage of renting properties?? where are you from? Iceland? the amount of properties snatched for renting in south-east is beyond anything in the last 20 years
I understand that a lot of landlords are only in it for profit and there way of making money is a form of rent seeking.
But there is good small landlords.
Also these new regulations are their to drive the small landlords out of the market.
This is so big corporate landlords can buy up all the property.
The same regulations wont apply to them eg Ireland.
The big corporate landlords will mostly focus on renting the properties to the government to house migrants for crazy rates while getting exemptions from all the regulations that drove small landlords away.
Councils need to take intermediary medium term leases from all the "incompetent" private landlords and they can sub-let them on at a profit rent to cover their costs, to whoever they want to and to show us all how its done "properly" protecting the vulnerable tenants from the nasty landlords too. Some Councils have done it for years.
I thought if you can’t get the EPC to level C unless you have to spend a specific amount c£3,800, then you can get an exemption certificate. Some houses wouldn’t ever be able to be made a C
there is a "need" to challenge the EPC affordability, essential but its confusing.
when the big banks and hedge fund's get into the property market big time just watch all the current landlord rules simply fall away ... rules for us but not for them!
PRC builds (even those that have been repaired) cannot reach C since they can't have cavity wall insulation or underfloor insulation. So, these houses the gov themselves built cannot be C :P
Black Rock or whatever (US corpn) they call themselves will be behind purchasing all this property
The right of renters should be respected and protected more in the UK. Of course this will change the dynamic of BTL market, so what's the big fuss?
We cannot allow insecure housing for millions to keep the secure investment route for the thousands on top. They should find a better way to invest their money.
The private rental market doesn’t work. We need a massive drive to build council houses as was done in the past which worked until thatcher sold them.
Thank u for the information, over here its about 9.5 times yearly income for a middle income person
I has 2 BTL. One defaulted during covid and I lost c 20k before getting my property back. Mortgage quadrupled and all the other costs. Selling up now.
How did we ever manage before this massive boom in private landlords. Whatever it was that’s what needs to happen again people being able to afford to buy their homes & not rely on overpriced & often substandard accommodation from private landlords. Most private landlords if they were brutally honest view tenants as a necessary evil to fund their property investments. The word social housing when applying it to the private rental sector is a joke.
It is amazing how aggressive HMRC is when an ordinary person looks like they could make some money.
Well informed
Good. About time they started cracking down on Landlordism. So what if they make a short term loss when many have profited from renting out multiple properties in the long term.
Shall we feel sorry for landlords who cannot protect a 25% profitability? F@ck no
No, feel sorry for the tenants who landlords will reluctantly evict as they sell up bit by bit.
I was thinking of renting out my Victorian cottage that is paid off to go sailing of around the world..
Sounds like a blinkin nightmare!..
It’s disengenuous of landlords to ignore the rises in capital value on their property and just look at the costs of servicing mortgage. If you have a mortgage it’s not really your money in first place …so should still be happy to own a property and still have most of interest paid by someone else…..especially when the value of property was rising year-on-year
Mortgage payments pay the capital not just the interest. Mortgages where only the interest is paid are illegal and have been for decades.
@@Stettafire are you trying to say interest only mortgages are illegal? There’s hundreds of thousands, if not millions of them! Landlords use the property as the potential capital to pay off mortgage
Net migration of 100k per year for decades, more people living along, tight plannning regulatios preventing building of new homes and on top of that all the new regulations. These are mostly down to political choices.
Urgent bailout needed for these hardworking landlords that contribute so much to society. The poor buggers can barely even scrape a profit after getting their mortgage paid for them!
They do not profit they sell up. and renters get thrown to the streets. you understand that. right ?
@@MinkieWinkle and then prices will drop so ordinary people can afford their own home... like it should be... perfect!!! house prices went astronomical because of greed and speculation...
instate laws so you can only own the house you live in + 1 more (for when you swap to a new house) and that one needs to be on sale for a marketable price so it actually sells...
@@LiLBitsDK that is all well and good for those in a position to buy. It would be a great opportunity for them.
However, what about the renters being kicked out? If they were is a position to buy, they wouldn't be renting.
They will have nowhere to go. As very few renters actually have a deposit in place to buy, they will still need to live somewhere.
@@MinkieWinkle pay your bills ;-) then ya don't get kicked out
@@LiLBitsDK they will get kicked out because the land lords will sell up, nothing to do with bills
Just could be the way they our having to fight for the rent some tenants owe landlords hundreds ,the landlords have to take them to court , but never a chance of getting arrears owed then , our left with house unfit to live in so thousands have to be spent to clean them up ,and the hope the next tenant will be a decent person and you ask why most our selling up
I've not been selling and I'm still buying. But I don't rent to long term tenants anymore, too risky and not enough income to make it worthwhile. Also I'm finding the best ones are commercial shops with floors of rooms above I can convert to apartments and rent.
I think this is not the time to convert. Everything so expensive.
@@gishanidesilva7958 No there's some good deals around and the short term rental market is very strong
The question should be where are all the new builds, better own than pay a landlord a profit as was the case in the past
@@robertjones2053 Are you under the impression that housing developers are putting 33% of their completions to affordable housing? You clearly have no clue. Probably a boomer that cashed in on housing and restricting the supply from later generations. Pathetic mindset
Some sectors may see a drop post covid. Many universities now offer more on-line courses so there may be a drop in students living in. The drop is quite small.
There is not a huge margin in renting. A £400 rise in interest payments is quite common with an average level of borrowing and that will wipe out any profit and more. How can they sustain a loss of say £200 per month?
I have a house that barely scrape a profit and have just paid £2,600 for a new boiler. The expectation is that the high interest rates will not last and so I will hang on and hope. I certainly would not want to evict anyone to see the house.
Good - I hope you go bust, housing shouldn't be there to make you a profit. Hang on as long as you can, when regulations come into force making you upgrade the EPC rating you will be forced out anyway, rightfully so.
@@cruelco My houses are of excellent standard, two are only 5 years old and they far exceed the new EPC level. My tenants are people who choose to rent rather than buy. You seem keen to take that option away from them. I guess you are just bitter as you want the world to give you a free house.
@@grolfe3210 Affordable maybe, people get pissed off that wages are dogshit but rents are sky high forcing people away from family. No one wants free housing but they want it to not be totally divorsed from reality.
@@hammerofolympia3716 Two people earn minimum wage and rent a one bed house. House is £800 pcm so ££9600 year. earnings £10.42x 36 hours x 52 x 2 = £39,012. So about 25% of earnings spend on getting a house that is looked after for you. What is the problem with that?
@@grolfe3210 you should be a politician with that amount of massaging numbers. Based on 2, pre tax amounts of wages and still paying 50% wages for a £800 quid single bed apartment is entirely reasonable lol.
Now realistically someone single paying £800 out of 1200-1400 a month then having to pay bills is already broke. I live in an area where housing is much more reasonable- 3 bed for £550 and even then landlords cant shift properties because people don't want to work to just pay rent and bill's.
what isn't rented is bought. It is a zero sum game. If fewer landlords buy up property, there is more for renters to buy
wouldn't the demand for rent fall at the same pace as the supply for rental properties, If landlords are net property sellers then presumably there are first time buyers who no longer renting and instead owning their home?
Not at the current high interest rates.
They rather sell to those with cash offers, that have a lot of money not really first time buyers.
But if the number of cash buyers is dropping too since fewer people want to be landlords, they may not have the choice of selling to cash buyers only.
issue is, even if there is a max exedos, the supply won't increase enough to cover the demand.
Great again
all in Portugal are waiting landlords will sell their houses!!! Such a shot offer on the market here and such a great demand!!!
Wonder how many “landlord’s’’ are charging the government for rent where they are related to the tenants
Me!! Hahaha No law against that.
I own 2 BTL houses and Iam a basic rate taxpayer , retried and living overseas, I have never had it so good and Iam not the only one, it's not all doom and gloom.
Sounds like you must have good tenants ? You may not be as smug if you had tenants that don't like paying their rent. Especially if you live abroad and far from your properties as dealing with tenant issues would be extremely difficult.
Sick of demonization of landlords.
Nice overview 😊The fundamental problem with the UK is that property prices are just too high. That hamstrings all property owners .
Never met a decent landlord in my life. Every time a landlord says there’s decent tenants here they turn out to be the cocaine and heroin dealers of the fucking neighbourhood.
I suppose it’s a class thing I was born in a ghetto I’ll die in a ghetto.
While I love the UK dearly I’m amazed at the level of taxes, how expensive it is and how the supposedly business friendly Conservative government has increasingly shafted landlords. Thank God I don’t live in post-Brexit Britain.
Cannot understand why anyone would choose to be a private landlord right now. There are far more income efficient, risk reducing and less bureaucratic ways of generating an income than BTL. I think the end of the year stats, will prove very sobering for the government. You reap what you sow 😢
thanks
I want to see the government take half of your properties off you so people like me can actually have somewhere to live. You don’t need £5000 a month to live on get used to an extra 1500.
I’ve been living under a bridge for 17 months I can’t even find a shitty room to live in
If you take risks as a landlord you must expect danger and reward, or why get involved, many don't and instead whinge through life as passive tenants.
Bit like all the whinging landlords who didn't factor in interest rate rises or tighter legislation into their "business model"
@@carollane8694 tell me about it ! All these Johnny come lately idiots. I got into it professionally a long time back and will see the back of them long before I quit.
More housing for sale produces a fall in prices which makes buying easier and reduces the need for renting. A good development
You'll own nothing and be happy....Lloyds are buying all the houses....
right now nobody is selling anything ... the usual govt / property / interest rate cock up!
The government/councils should have done more. Like they did in the 1950’s
The rental sector will become a corporate market I feel.
We all have to live somewhere, so there's always going to be people renting.
It's temporarily always up sometime it will go down .. watch out the timeming...
I'm an ex landlord in the UK, and would NEVER, EVER, consider becoming one again. My experiences left me scarred, and severely out of pocket. I'm sure there are some decent, honest, renters out there, and I feel for them.
However, the ones who deliberately abuse their positions, don't pay their way, sublet, damage property at end of lease, etc.,, and there are vast numbers of them, can sleep in the gutter. But not outside my house. I'll hosepipe them if they do.
The demand for properties to rent is rising because of high house prices, as many renters (probably most) would rather buy if they could afford to. So landlords selling up would help reduce these ridiculously high house prices, which would enable more people to buy, thus reducing demand for properties to rent. You make it sound as if landlords selling up reduces the housing stock, whereas increasing supply of course helps lower prices.
So why is it getting more difficult to find a property to rent?
*THE INTEREST RATE HAS GONE UP* translation "I made a bad financial decision and I expect you to feel sorry for me, and if you are my tenant I expect YOU to pay for my bad financial decision"
And who will house them all you?
@@heckings What a silly question.😊 Picallili Pit above will take a £500k+ mortgage to buy a property and rent it out at 0% profit margin. As will all those who do not like private landlords. Problem of greedy landlords solved. 😉
@@heckingsThey could sell up to the state...?
@@heckings OHHH BOOO HOOO did you make a bad financial decision??? MAYBE YOU should have saved some money from the good times to ensure YOU could afford the mortgage when YOUR mortgage rate went UP do YOU coulda afford YOUR mortgage instead of expecting YOUR tenants to pay for YOUR bad decision...???
@@theolddog5129 ridiculous answer who runs a successful business without making a profit🤷♂️