Giordano Bruno Posted August 18, 2010 Share Posted August 18, 2010 Rogue tenants not paying their rent are the new foot soldiers in this war. They are my heros, and I salute them!! Go tenant rent dodgers!!! With your hard work and skill in evading capture, the landlord despots will begin to taste what financial hardship really is! That brings back memories of my youthful days as a communist sympathiser. All the slogans, 'running dogs of yankee imperialism', 'dialectic materialism', and the pictures of heroic workers holding a red flag. Mmmm. It seems so long ago! I don't feel that there are simple solutions any more. Quote Link to comment Share on other sites More sharing options...
Injin Posted August 18, 2010 Share Posted August 18, 2010 Exactly that. We have thrown money at speculators and caused a massive asset bubble in housing. Some landlords have speculated irresponsibly and are now being baled out by the rest of us, but I would maintain that quite a few have borrowed sensibly and have just taken advantage of the ridiculous situation provided to them by the market/government/financial system (delete as appropriate). I don't take issue with professional landlords who look after their tenants and provide a good service, even if they have been unfairly rewarded through no fault/genius of their own. I think what you are really annoyed about is high house prices.. I think people should perhaps be venting their frustration at those who allowed 15 years of lax lending and unfettered speculation, combined with those who want to prop up the houseprices/system to reward the feckless. Most landlords are lucky ignorant bystanders.. but you can't really blame them for that. Sortof true. I'd say that landlords can rent you a home because the state will beat you up if you try and do it for yourself. it's not like the option to chuck up your own dwelling wherever there is space is available. They aren't actually hurting you, just making money on the back of someone else who is. It doesn't really matter how nice they are about it - minus you being forced off the earth that's yours by right, they don't have a job. Of course, once in such a shitty situation the smart move is to become a landlord, but that's another story. Quote Link to comment Share on other sites More sharing options...
LiveinHope Posted August 18, 2010 Share Posted August 18, 2010 (edited) Exactly that. We have thrown money at speculators and caused a massive asset bubble in housing. Some landlords have speculated irresponsibly and are now being baled out by the rest of us, but I would maintain that quite a few have borrowed sensibly and have just taken advantage of the ridiculous situation provided to them by the market/government/financial system (delete as appropriate). I don't take issue with professional landlords who look after their tenants and provide a good service, even if they have been unfairly rewarded through no fault/genius of their own. I think what you are really annoyed about is high house prices.. I think people should perhaps be venting their frustration at those who allowed 15 years of lax lending and unfettered speculation, combined with those who want to prop up the houseprices/system to reward the feckless. Most landlords are lucky ignorant bystanders.. but you can't really blame them for that. You are quite right throughout, but if you don't mind me saying so, you are stating the bleeding obvious. HPI due to the vicious upward spiral of wreckless lending by banks and price ramping by EAs has destroyed the UK housing market. When I was made redundant around the turn of the century an IFA told me to use my settlement as a deposit to buy 10 properties for BTL ("find a cul de sac" he said) with the increase in value as the benefit, not the rentals, which would just pay the mortgages. Needless to say I didn't do so as I could see the fallacy. But I maintain that there is nothing wrong with renting your cave, you can't take it with you after all. I think much of the aggression is aimed at the 'greedy get rich quick brigade' rather than renting per se, and quite rightly so. Edited August 18, 2010 by LiveinHope Quote Link to comment Share on other sites More sharing options...
LiveinHope Posted August 18, 2010 Share Posted August 18, 2010 (edited) I'd say that landlords (snip) aren't actually hurting you, just making money on the back of someone else who is Well who doesn't make money out of land (property). I can't see it ever being free unless eutopia arrives. So, either the bank, via the mortgage, or the landlord, via the rent, will make a return on their investment from the 'tenant'. Edited August 18, 2010 by LiveinHope Quote Link to comment Share on other sites More sharing options...
libspero Posted August 18, 2010 Share Posted August 18, 2010 (edited) It doesn't really matter how nice they are about it - minus you being forced off the earth that's yours by right, they don't have a job. Of course, once in such a shitty situation the smart move is to become a landlord, but that's another story. Don't misunderstand me, I like a well humoured landlord bashing thread as much as the next man. I just hate to see people jumping on the easy targets and ignoring the real culprits. Which organisation turned a blind eye to shockingly appalling lending standards throughout the boom while Eric was screaming it from the roof tops..? THE FSA. Who was in charge of the FSA then..? Callum Mccarthy. He's probably the first person I'd like to see lined up (but instead he's been put on the board at the BoE ). But who (nodoubt) put pressure on him to ignore these problems..? If I was a betting man I'd guess the original one-eyed wonder himself and THESE prime culprits. What we need is for the current government to let the air out as fast as they can without causing economic melt down. Hopefully, that is exactly what they are doing. Hopefully Edited August 18, 2010 by libspero Quote Link to comment Share on other sites More sharing options...
libspero Posted August 18, 2010 Share Posted August 18, 2010 (edited) You are quite right throughout, but if you don't mind me saying so, you are stating the bleeding obvious. I hope I am (stating the bleeding obvious).. sometimes I wonder if people forget. I think much of the aggression is aimed at the 'greedy get rich quick brigade' rather than renting per se, and quite rightly so. Indeed.. they should be punished by allowing house prices to correct as much as realistically possible IMHO. Edited August 18, 2010 by libspero Quote Link to comment Share on other sites More sharing options...
Badger Posted August 18, 2010 Share Posted August 18, 2010 They pick at carpets, curtains and upset neighbours by shitting in their gardens. My landlord lives next door - I have a little hole in the fence to let both our cats through so they can sh!t in his rather large garden. Luckily as he used to be a vet he's an animal lover. And as he's also my employee, he needs to let me do more or less what the feck I want Quote Link to comment Share on other sites More sharing options...
LiveinHope Posted August 18, 2010 Share Posted August 18, 2010 they should be punished by allowing house prices to correct as much as realistically possible IMHO. They will be. They were uneducated about investment and many, if not all, had no idea of the value of money; although of course they thought they did. This applies to the sheeple, the EAs, many bankers and of course those in regulation and government. There is no such thing as a free lunch. They will all eventually be punished. Some already have been. It is the collateral damage that worries me since I feel we are in uncharted waters Quote Link to comment Share on other sites More sharing options...
DeepLurker Posted August 18, 2010 Share Posted August 18, 2010 Exactly that. We have thrown money at speculators and caused a massive asset bubble in housing. Some landlords have speculated irresponsibly and are now being baled out by the rest of us, but I would maintain that quite a few have borrowed sensibly and have just taken advantage of the ridiculous situation provided to them by the market/government/financial system (delete as appropriate). I don't take issue with professional landlords who look after their tenants and provide a good service, even if they have been unfairly rewarded through no fault/genius of their own. I think what you are really annoyed about is high house prices.. I think people should perhaps be venting their frustration at those who allowed 10 years of lax lending and unfettered speculation, combined with those who want to prop up the houseprices/system to reward the feckless. Most landlords are lucky ignorant bystanders.. but you can't really blame them for that. +1 There is a lot of indiscriminate landlord-bashing going on in this thread... which is just stupid, landlords provide a valuable social function which is as old as history. The real problem is the lack of housing/HPI in this country that has allowed any idiot with a pulse to self-style himself as a landlord, and, quite literally, "lord" it over his tenants. Quote Link to comment Share on other sites More sharing options...
LiveinHope Posted August 18, 2010 Share Posted August 18, 2010 +1 There is a lot of indiscriminate landlord-bashing going on in this thread... which is just stupid, landlords provide a valuable social function which is as old as history. The real problem is the lack of housing/HPI in this country that has allowed any idiot with a pulse to self-style himself as a landlord, and, quite literally, "lord" it over his tenants. Thanks for joining Quote Link to comment Share on other sites More sharing options...
wonderpup Posted August 18, 2010 Share Posted August 18, 2010 (edited) . Edited August 18, 2010 by wonderpup Quote Link to comment Share on other sites More sharing options...
cybernoid Posted August 18, 2010 Share Posted August 18, 2010 I am a businessman, I deal with risk every day, that is why I invest in a letting agent to check potential tenants, and have developed strict criteria to who I let my properties. It is much better to go an extra month or two without rent than take on scum. You must be dealing in the lower end if you have worries about scum renting your banks properties. Maybe if you applied yourself a little and worked harder you could earn more and beg the banks to lend you even more money and rent out some properties at the higher trouble free end of the market. Mind you, good properties that attract quality tenants are quite expensive now, how did that happen? A slumlord and scum tenants is a fair match I would say. Quote Link to comment Share on other sites More sharing options...
Authoritarian Posted August 18, 2010 Share Posted August 18, 2010 (edited) My landlord lives next door - I have a little hole in the fence to let both our cats through so they can sh!t in his rather large garden. Luckily as he used to be a vet he's an animal lover. And as he's also my employee, he needs to let me do more or less what the feck I want He's not your employee, you're his slave. There's a subtle but important difference. If he was truly your employee you could get rid of him and replace his services yourself without his permission, but this isn't the case. If you try and replace his services they lock you up, he holds a privileged place in the law, he's a rent collector. And there are only a limited number of spots available. The club is full atm, try again later. Edited August 18, 2010 by Chef Quote Link to comment Share on other sites More sharing options...
Authoritarian Posted August 18, 2010 Share Posted August 18, 2010 (edited) +1 There is a lot of indiscriminate landlord-bashing going on in this thread... which is just stupid, landlords provide a valuable social function which is as old as history. The real problem is the lack of housing/HPI in this country that has allowed any idiot with a pulse to self-style himself as a landlord, and, quite literally, "lord" it over his tenants. Landlords don't provide anything for the community, in fact the money they take in rental payment is an accurate measure of the amount of damage they're doing to society by inflicting costs on others. We need builders to provide housing, they're an asset, but landlords are just a burden that could be taxed out of existence without any knock on effects. Edited August 18, 2010 by Chef Quote Link to comment Share on other sites More sharing options...
Stars Posted August 19, 2010 Share Posted August 19, 2010 (edited) Well who doesn't make money out of land (property). err...the people forced to pay and thereby support a second person person with their production? Edited August 19, 2010 by Stars Quote Link to comment Share on other sites More sharing options...
Stars Posted August 19, 2010 Share Posted August 19, 2010 There is no such thing as a free lunch. They will all eventually be punished. Some already have been. It depends how you define it There is such a thing as a free lunch, if you can force / trap someone else to pay your bill Quote Link to comment Share on other sites More sharing options...
Stars Posted August 19, 2010 Share Posted August 19, 2010 The real problem is the lack of housing/HPI in this country that has allowed any idiot with a pulse to self-style himself as a landlord, and, quite literally, "lord" it over his tenants. Yes - we have a freerider problem So calling them (say) 'useless, thieving freeloaders' is actualy accurate not indiscriminate Quote Link to comment Share on other sites More sharing options...
A_Landlord Posted August 19, 2010 Share Posted August 19, 2010 You must be dealing in the lower end if you have worries about scum renting your banks properties. Maybe if you applied yourself a little and worked harder you could earn more and beg the banks to lend you even more money and rent out some properties at the higher trouble free end of the market. Mind you, good properties that attract quality tenants are quite expensive now, how did that happen? A slumlord and scum tenants is a fair match I would say. If you check my previous posts you will find my properties are just about paid off and I'll be buying the next batch probably in 2011. Again - to be paid for from my day job plus ploughing back rental income to reduce mortgages as quick as possible. My business model works fine - so well infact I'll be in a position to retire comfortably at 50, how about you? Regarding earlier posts on 'baseball bat insurance' - I do not advise this at all (please re-read what I typed), but when times get harder and there will be overstretched and desperate landlords that may turn to this rather than put up with no rent and damage to the property for 6 months while the courts eviction process is done. Quote Link to comment Share on other sites More sharing options...
Stars Posted August 19, 2010 Share Posted August 19, 2010 (edited) They aren't actually hurting you, just making money on the back of someone else who is. Not true. By focusing their activities to take advantage of the situation each landlord adds to it. Each landlord pilling in and monoplising property, increases the size of the cost barrier (hurdle). Presently, landlord activities are a net extra burden, however there are occasional circumstances under which they are actually providing a net service. Edited August 19, 2010 by Stars Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted August 19, 2010 Share Posted August 19, 2010 Not true. By focusing their activities to take advantage of plight of others, each landlord pilling in and monoplising property, increases the size of the cost barrier (hurdle). Presently, landlord activities are a net extra burden, however there are occasional circumstances under which they are actually providing a net service. Actually, I have no problem with landlords per se. I DO have a problem with Borrow to Letters trading on a margin that is only available due to a tax inequity set against other borrowers. My LL made his money in building contracting...He lives next door, he paid CASH for the current house we are in....near £400K...he has made little capital gain since he bought, but he has had an income from me for the last 16 months...none for 8 months before that. we are having a fair amount of double glazing installed in the lounge and upstairs bedrooms.... His aim though is not just an income...its to preserve his surroundings....field of horses out the back, pleasant neighbours ( us and a few others). Quote Link to comment Share on other sites More sharing options...
A_Landlord Posted August 19, 2010 Share Posted August 19, 2010 Not true. By focusing their activities to take advantage of plight of others, each landlord pilling in and monoplising property, increases the size of the cost barrier (hurdle). Presently, landlord activities are a net extra burden, however there are occasional circumstances under which they are actually providing a net service. You are a real special one aren't you. There are some tenants that will not be able to afford deposits even if prices were 2.5x average salary or will not want to buy at this stage of their lives. For example using some of my tenants - I have 3 divorcees (one nearly retirement age), one HB single mum and 1 Nepalese bus driver and family - probably just 1 of those would be in a financial position to buy, but I doubt they would because the town my properties are in has been hit hard by redundancies and will have a large public sector hit to come so there is low job security to commit to a 25 year mortgage. Quote Link to comment Share on other sites More sharing options...
dryrot Posted August 19, 2010 Share Posted August 19, 2010 Turns out someone I know has gone into BTL. Didn't register the renters' deposit with some deposit holding scheme which, apparently, landlords have to do. They do - Prescotts Deposit Protection Service - which is free, BTW. LL and tenant must register. Both have to agree before deposit is kept/returned. If LL does not register with 2 weeks of tenancy - and xfer the deposit - the tenant can sue for 3 * deposit. Quote Link to comment Share on other sites More sharing options...
Stars Posted August 19, 2010 Share Posted August 19, 2010 (edited) You are a real special one aren't you. There are some tenants that will not be able to afford deposits even if prices were 2.5x average salary or will not want to buy at this stage of their lives. For example using some of my tenants - I have 3 divorcees (one nearly retirement age), one HB single mum and 1 Nepalese bus driver and family - probably just 1 of those would be in a financial position to buy, but I doubt they would because the town my properties are in has been hit hard by redundancies and will have a large public sector hit to come so there is low job security to commit to a 25 year mortgage. If prices really were 2 - 2.5X, the rental sector would be tiny and the amount of theft that could be engaged in by landlords would be smaller (if credit were as available). I hope we aren't going to see a lot of contradictory personal anecdotes about how you saved people by inflicting costs on them. Edited August 19, 2010 by Stars Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted August 19, 2010 Share Posted August 19, 2010 Regarding earlier posts on 'baseball bat insurance' - I do not advise this at all (please re-read what I typed), but when times get harder and there will be overstretched and desperate landlords that may turn to this rather than put up with no rent and damage to the property for 6 months while the courts eviction process is done. A lot more landlords will be going to jail then. Forced unauthorised eviction is a criminal offence. I have very little sympathy for landlords - these are the risks you take. Quote Link to comment Share on other sites More sharing options...
campervanman Posted August 19, 2010 Share Posted August 19, 2010 Indeed. It's akin to Stockholm syndrome. My landlord is perfectly agreeable too but it doesn't negate the fact that he is a parasite. Currently tennants are living in a property where they are paying less than the cost of buying the property. Who is subsidising who? Who is the parasite? Quote Link to comment Share on other sites More sharing options...
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