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Rent To Rent

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On Channel 4 now. Rent to rent landlord making over £1000 a month on houses in Yorkshire thanks to Faisal Islam.

"where would these people go" says landlord charging £70 a week for a room.

Well if he stopped hoarding houses. they could probably afford a proper home!

'Demonisation of social housing' on now.

Edited by aSecureTenant

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On Channel 4 now. Rent to rent landlord making over £1000 a month on houses in Yorkshire thanks to Faisal Islam.

"where would these people go" says landlord charging £70 a week for a room.

Well if he stopped hoarding houses. they could probably afford a proper home!

'Demonisation of social housing' on now.

Just saw that. I liked Will Self describing him as a Rachmann.

I was more disgusted at the Chinese guy who's building tiny rooms to sell to investors in the Far East who'll rent them out at a vast profit.

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Just saw that. I liked Will Self describing him as a Rachmann.

I was more disgusted at the Chinese guy who's building tiny rooms to sell to investors in the Far East who'll rent them out at a vast profit.

Yeh Oldham. We've discussed them on here. I think Chinese guy is going to go bust.

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Micro apartments! Would it be better/equivalent of sharing a room in a house.

Of course, most youngsters start out renting before they are in a position to buy, unfortunately the goalposts have moved since it was a natural and relatively easy thing to do once you'd established yourself in your career.

The politicians have a lot to answer for.

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Just saw that. I liked Will Self describing him as a Rachmann.

I was more disgusted at the Chinese guy who's building tiny rooms to sell to investors in the Far East who'll rent them out at a vast profit.

I couldn't understand how this worked. How is it different to BTL?

Will Self's comparing the RTR guy to Rachman was overstating the case a tad. Typical bit of Self hyperbole, which has rather put me off him (the Book Of Dave was good, & I liked his persona on Shooting Stars, but nothing else has impressed much).

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I couldn't understand how this worked. How is it different to BTL?

Will Self's comparing the RTR guy to Rachman was overstating the case a tad. Typical bit of Self hyperbole, which has rather put me off him (the Book Of Dave was good, & I liked his persona on Shooting Stars, but nothing else has impressed much).

He rents out a whole house. perhaps on an AST then rents it out on a room by room basis, including any lounge, dining room etc.

Middleman / arbitrager basically. A kind of gangmaster for houses

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Like sub-letting? almost like a parasite on a parasite?

Yes and its always possible a letting agent might be involved too! My, the poor young have a huge inverted pyramid on their backs.

Edited by aSecureTenant

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Surely this Rent to Rent thing must be in breach of most tenancy agreements? I would have thought that a landlord on the receiving end of this has strong grounds to kick out not just the tenant but also the 'sub-tenants'!

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Maybe the owner is happy with the deal he gets the rent he wants, then the middle man splits it down into multiple bedsits and creams off the difference + deals with all the hassle, could see foreign owners using a middleman like this and possibly not know what's happening just recieving the rent each month.

Blimey now I've really depressed myself thinking about that,

It's what I dislike most about life in the Uk always someone looking to profit off of someone else's back, nothing for the greater good of everyone all for the self "I'm alright jack"

I'm not a socialist but it does have some merits.

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Surely this Rent to Rent thing must be in breach of most tenancy agreements? I would have thought that a landlord on the receiving end of this has strong grounds to kick out not just the tenant but also the 'sub-tenants'!

Lots of things are negotiable. Lots of LLs may not want the hassle of dealing with HMO licensing, letting to short-term tenants, etc.

Some people, however, might have lots of contacts (e.g. they may be members of a particular community) and able to find lots of tenants who want this type of accommodation, and be willing to undertake the higher management workload.

Such a middle man might sign a 5 or 10 year AST and agree to undertake the building repairs, in exchange for a deep discount on the rent. In fact, councils are often falling over themselves to sign this sort of AST for good quality family homes which they can then use as social housing. It's recent uptick in this type of subletting by the private sector that has been quite noticeable recently.

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Surely this Rent to Rent thing must be in breach of most tenancy agreements? I would have thought that a landlord on the receiving end of this has strong grounds to kick out not just the tenant but also the 'sub-tenants'!

I guess a lot of the mortgages are with NRK AM - anything goes! Thank you, gubmint.

Plenty of mortgagors surviving on cash-in-hand lodgers as well. I know of one guy in his 70s who has 5 strangers filling his over-priced home - brings in £2800 per month. Apart from state pension that's his only income, and he still can't make the mortgage because his contract doesn't track the BOE base rate. Interest only too.

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I guess a lot of the mortgages are with NRK AM - anything goes! Thank you, gubmint.

Plenty of mortgagors surviving on cash-in-hand lodgers as well. I know of one guy in his 70s who has 5 strangers filling his over-priced home - brings in £2800 per month. Apart from state pension that's his only income, and he still can't make the mortgage because his contract doesn't track the BOE base rate. Interest only too.

!!!!!!!!!!!

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Plenty of mortgagors surviving on cash-in-hand lodgers as well. I know of one guy in his 70s who has 5 strangers filling his over-priced home - brings in £2800 per month. Apart from state pension that's his only income, and he still can't make the mortgage because his contract doesn't track the BOE base rate. Interest only too.

A mortgage in his 70s?! F**k that! :blink: Interest only too - Holy cr@p. :blink:

I wonder if this guy would be better off selling up, clearing the debt and going into rented? Hoping of course that there is equity in the house. Maybe apply for social rented housing? :unsure:

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Parasite3

Bank parasite.

BTL landlord parasite

R to R parasite

All sitiing on top of a young person

To make matters worse the lad had a worked in a warehouse. Whats the betting he's employed through an agency. So that is four parasites, and if he found the room via Rightmove or an estate agent, that makes five.

No wonder UK's services PMI is booming. There are four or five parasites for every person doing a real job.

Edited by aSecureTenant

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