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SO. Many. Lolz! ?

Lolz aside though...that articles highlights something I didnt' realise: 

"...There are some 222,570 fewer landlords now than in 2017, a drop of 8 per cent, according to research from estate agents Hamptons International."

If 222,570 represents 8% of all landlords how effin many landlords are/were there!!!?? My poor paths (i.e. online calculator) comes up with 2,782,125...is that right?? That's an astonishing amount no? And i assume that doesn't mean the number of properties as many landlords will have more than one property...No wonder this country is fecked.

 

But anyway, great post...still great to see nevertheless!

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10 hours ago, Sausage said:

There are some 222,570 fewer landlords now than in 2017, a drop of 8 per cent

Not enough.

They now need to fore regulated banks to hold 100% capital of all their IO BTL loans, forcing the business off the regulated BoE backed, books.

Get all the IO BTL with financail companies, required to sell bonds to back the loans.

The BE should prvide no backing to non amortising (IO) loans.

 

 

 

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I hope this correlates to better quality landlords remaining. 

Curious, if the renters here had to choose between a large rental company (possibly listed) with hundreds or thousands of properties, or a single landlord, living locally, which would you prefer?

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38 minutes ago, PeanutButter said:

I hope this correlates to better quality landlords remaining. 

Curious, if the renters here had to choose between a large rental company (possibly listed) with hundreds or thousands of properties, or a single landlord, living locally, which would you prefer?

The latter.

Based on bitter experience.

Currently renting from Pears via Hamways.  Pears own vast numbers of residential and commercial property globally - more in New York than Trump I am told.
Tenancy started Oct. 2017 with no increase since.  Any problem fixed next 1-2 working days, normally try to come out same day to investigate, if not fix.  Exception was washing machine but it broke the week before Christmas and I guess the installers were inundated with panicked people with youngsters or visitors.
They installed a good replacement machine.  No interest in arseing around repairing a 10 year old machine.
Of the 3 previous amateur borrow to let landlords, 1 was OK-ish, the other 2 just awful.  1 in particular was an odious old guy from IRAQ with 11 London properties.  Hopefully he's got COVID-19 now.  Or been murdered by a less patient tenant.

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1 hour ago, PeanutButter said:

I hope this correlates to better quality landlords remaining. 

Curious, if the renters here had to choose between a large rental company (possibly listed) with hundreds or thousands of properties, or a single landlord, living locally, which would you prefer?

Well, at least the less leveraged LL, which is prob the same thing.

 

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6 minutes ago, Gush said:

True, should have all gone bust 12 odd years back. 8% drop after what 80% increase? The response to BTL by Goverbankment is a joke...

No,

The gormless creation of IO BTL, all on Browns watch is a joke.

The coalition, when theyd steadied revenue a bit - 14% budget deficit, thing of a World war - moved quickly on IO BTL. Creating laws takes to unfuk predecessors no more boom and bust/biggest credit bubble ever seen -  a couple of years ,so 2017 - 3 -= 2014.

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59 minutes ago, hotblack42 said:

The latter.

Based on bitter experience.

Currently renting from Pears via Hamways.  Pears own vast numbers of residential and commercial property globally - more in New York than Trump I am told.
Tenancy started Oct. 2017 with no increase since.  Any problem fixed next 1-2 working days, normally try to come out same day to investigate, if not fix.  Exception was washing machine but it broke the week before Christmas and I guess the installers were inundated with panicked people with youngsters or visitors.
They installed a good replacement machine.  No interest in arseing around repairing a 10 year old machine.
Of the 3 previous amateur borrow to let landlords, 1 was OK-ish, the other 2 just awful.  1 in particular was an odious old guy from IRAQ with 11 London properties.  Hopefully he's got COVID-19 now.  Or been murdered by a less patient tenant.

What was so bad about him?

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15 hours ago, highcontrast said:

."

If 222,570 represents 8% of all landlords how effin many landlords are/were there!!!?? My poor paths (i.e. online calculator) comes up with 2,782,125...is that right?? That's an astonishing amount no? 

I'm not surprised. 5% of the population are landlords.

Edited by Si1
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4 hours ago, iamnumerate said:

What was so bad about him?

Said OK to repainting a room if it cost him nothing.  Agreed light blue and did it really carefully, came round when we served notice and insisted we repaint it magnolia.  So we left having repainted a big scruffy room twice and along with most of the woodwork in the flat.
Damp patch on a ceiling - just kept referring us direct to the freeholder, never sorted properly.

After a month with a broken builtin fridge he had a freestanding one delivered which I had to fit into the space.
He'd had the gas boiler capped off and left in place and had a stupidly expensive to run and unreliable electric boiler bolted on.

There were various draughts which I sorted as had given up trying to get him to do stuff.

He asked if we would leave the expensive, lined curtains - for nothing.  I hung the tatty ones back up.

The en suite was permanently damp and mouldy.  Straightforward, if pricey, fix.  Not interested.

When he did reluctantly pay for work it was always cash in hand to guys who couldn't speak English and we always had to be in to supervise.

Bottom line - nasty, tight old millionaire for whom it was a matter of honour that any situation was dealt with on his terms and seemed to delight in getting tenants to do his work as a landlord.

Maybe bad things happened to him in Iraq?
Hope so.

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37 minutes ago, hotblack42 said:

Said OK to repainting a room if it cost him nothing.  Agreed light blue and did it really carefully, came round when we served notice and insisted we repaint it magnolia.  So we left having repainted a big scruffy room twice and along with most of the woodwork in the flat.
Damp patch on a ceiling - just kept referring us direct to the freeholder, never sorted properly.

After a month with a broken builtin fridge he had a freestanding one delivered which I had to fit into the space.
He'd had the gas boiler capped off and left in place and had a stupidly expensive to run and unreliable electric boiler bolted on.

There were various draughts which I sorted as had given up trying to get him to do stuff.

He asked if we would leave the expensive, lined curtains - for nothing.  I hung the tatty ones back up.

The en suite was permanently damp and mouldy.  Straightforward, if pricey, fix.  Not interested.

When he did reluctantly pay for work it was always cash in hand to guys who couldn't speak English and we always had to be in to supervise.

Bottom line - nasty, tight old millionaire for whom it was a matter of honour that any situation was dealt with on his terms and seemed to delight in getting tenants to do his work as a landlord.

Maybe bad things happened to him in Iraq?
Hope so.

I am sorry to hear that - Tony Blair, Gordon Brown and to a lesser extent David Cameron should hang their heads in shame.

Edited by iamnumerate
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8 hours ago, PeanutButter said:

I hope this correlates to better quality landlords remaining. 

Curious, if the renters here had to choose between a large rental company (possibly listed) with hundreds or thousands of properties, or a single landlord, living locally, which would you prefer?

I once rented through a large company and I’d ring them about an issue and they’d ask when was best for someone to come and fix it and they’d be there to sort it when agreed. Never any hassle. When I moved out they asked what date I wanted to move on and if the months notice was too much/little.
 

Yet just about other landlord has been utterly rubbish. Fobbing me off and lying. And trying to steal deposits.

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1 hour ago, scb said:

I once rented through a large company and I’d ring them about an issue and they’d ask when was best for someone to come and fix it and they’d be there to sort it when agreed. Never any hassle. When I moved out they asked what date I wanted to move on and if the months notice was too much/little.
 

Yet just about other landlord has been utterly rubbish. Fobbing me off and lying. And trying to steal deposits.

This is interesting, I’ve heard that German landlords are mainly big companies like this. The German system of course has its own flaws and problems but I can see a scenario where we move more towards big foreign investors running much of our housing stock.

Next question, would big companies do better at running council house rentals as well? 

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19 minutes ago, PeanutButter said:

This is interesting, I’ve heard that German landlords are mainly big companies like this. The German system of course has its own flaws and problems but I can see a scenario where we move more towards big foreign investors running much of our housing stock.

Next question, would big companies do better at running council house rentals as well? 

At least when we had council estates those kind of renters were together. Now anywhere could be a council house if they are dispersed far and wide. These companies will play the long game.

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18 hours ago, hotblack42 said:

Said OK to repainting a room if it cost him nothing.  Agreed light blue and did it really carefully, came round when we served notice and insisted we repaint it magnolia.  So we left having repainted a big scruffy room twice and along with most of the woodwork in the flat.
Damp patch on a ceiling - just kept referring us direct to the freeholder, never sorted properly.

After a month with a broken builtin fridge he had a freestanding one delivered which I had to fit into the space.
He'd had the gas boiler capped off and left in place and had a stupidly expensive to run and unreliable electric boiler bolted on.

There were various draughts which I sorted as had given up trying to get him to do stuff.

He asked if we would leave the expensive, lined curtains - for nothing.  I hung the tatty ones back up.

The en suite was permanently damp and mouldy.  Straightforward, if pricey, fix.  Not interested.

When he did reluctantly pay for work it was always cash in hand to guys who couldn't speak English and we always had to be in to supervise.

Bottom line - nasty, tight old millionaire for whom it was a matter of honour that any situation was dealt with on his terms and seemed to delight in getting tenants to do his work as a landlord.

Maybe bad things happened to him in Iraq?
Hope so.

That approach to maintenance sounds very like my landlord. The amount of jobs i either do myself or forget about.

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21 hours ago, Sausage said:

That approach to maintenance sounds very like my landlord. The amount of jobs i either do myself or forget about.

My landlord is a big talker, talks about how he's going to get the front of the house (which is really very shabby) repainted, asks us if there are any other jobs need doing, then does absolutely f.a. If I want something doing in the house now I do it myself.

Ultimately it's down to incentives, we are here paying rent now so he has minimal incentive to do anything to make the place nice.

This is one reason why renting privately and owning are not just different ways to consume the same housing.

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On 26/02/2020 at 21:47, highcontrast said:

Hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha

SO. Many. Lolz! ?

Lolz aside though...that articles highlights something I didnt' realise: 

"...There are some 222,570 fewer landlords now than in 2017, a drop of 8 per cent, according to research from estate agents Hamptons International."

If 222,570 represents 8% of all landlords how effin many landlords are/were there!!!?? My poor paths (i.e. online calculator) comes up with 2,782,125...is that right?? That's an astonishing amount no? And i assume that doesn't mean the number of properties as many landlords will have more than one property...No wonder this country is fecked.

But anyway, great post...still great to see nevertheless!

You are right to highlight those numbers. They are frightening a potentially could have been very very frightening. 

2015 I joined the 118 thread to further understand the S24 impact and look at crystallising cash and repaying my debts. I was amazed and shocked by the entitlement, the fact some LLs had £50k mortgage payments A MONTH, several with 40 houses....then began to research the numbers. The entitlement brought me from the dark side to the light...HPC  

I realised we have 2/3 million landlords (And it was increasing) where the formula ‘works’ so many of those may expand to say 5 houses each, some to 50 (so let’s average 10 houses each) then soon almost all the 25m houses in the UK would be private rented and it needed to stop.

S24 very precisely did this. It allows maybe one rental to work but stops the 3/4/5 houses unless incorporated. Effectively it stopped the casual BTL’er expanding and discourages others. I know S24 could be extended further (and still might) but at least for now the direction has changed. 

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On 27/02/2020 at 15:25, hotblack42 said:

Bottom line - nasty, tight old millionaire for whom it was a matter of honour that any situation was dealt with on his terms and seemed to delight in getting tenants to do his work as a landlord.

Maybe bad things happened to him in Iraq?
Hope so.

This ‘bottom line’ paragraph is so insightful and unfortunately true.

I am no saint and could do better sometimes but this power thing is absolutely true for some landlords. 

The power mad controlling landlords fall into two camps where either they are wealthy and used to getting their own way (at work, at home etc) and expect tenants to do the same.....or powerless little loser pr1cks who for once find themselves being able to tell someone what to do. 

I know a tenant whose landlady (In the latter category) would not let him decorate. The house had 80’s wallpaper and the guy was a professional decorator. He lived with his wife and child and showed me round...genuinely couldn’t believe it. It was all about control and he left her shortly afterwards and she struggled to sell the horrid place. 

I guess there are awful tenants, landlords, shopkeepers, employees, bosses, car drivers etc etc. But an awful controlling landlord should not be given the opportunity to ‘control’ a family like this. 

Edited by Pop321
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5 minutes ago, Pop321 said:

 

I guess there are awful tenants, landlords, shopkeepers, employees, bosses, car drivers etc etc. But an awful controlling landlord should not be given the opportunity to ‘control’ a family like this. 

Yes. Free markets theory doesn't take into account neuroses.

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  • 416 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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