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went for a butcher's at three 4/5 bed family homes nearby (pretty grubby area of North London with lots of stuff rented out to immigrant families) last week, and all three were landlords scaling back. A small sample size, sure - but it felt a bit significant. And this seemed like the most obvious thread to share it on.

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What about those LLs who DID agree rent reductions with their tenants - Did they have to - No - But they did it 

After I see some of the attitude on this forum towards LLs who have invested their life savings to provide others a home if I ever became a LL there would no sympathy at all..

The tenant who had to move to ireland to look after her sick mother - She still needs to pay even if empty or else its of to courts and guarantors as defendants 

Sausage has been a dick - The LL wants to sell why not give him access and act nicely.  Because yes he did not get his deposit protected I see

 

That is not the motivation at all. They are in it for the money. You know that, I know that, we all know that.

Some of the good ones earn that money and that is fine. Others don't.

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The LL wants to sell why not give him access and act nicely

LL sold his right to access the property when he entered into a rental agreement. It is now a tenant home. 

Do you expect LL to act nicely if a tenant ask to lower the rent? Mine has immediately threaten me with an eviction when I suggested that his request to raise my rent was unreasonable.   

 

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After I see some of the attitude on this forum towards LLs who have invested their life savings to provide others a home if I ever became a LL there would no sympathy at all.

You mean those people who have helped push up house prices so that so many can't afford to buy a home?

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You mean those people who have helped push up house prices so that so many can't afford to buy a home?

amazing how twisted you can think 

 

Yes LLs have stolen the house you were going to buy - Not the other way round - The LLs have provided accomodation for flexible living 

 

Insane 

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amazing how twisted you can think 

 

Yes LLs have stolen the house you were going to buy - Not the other way round - The LLs have provided accomodation for flexible living 

 

Insane 

Problem with that argument is now in certain city's the "flexible living" now corresponds far beyond what students or people who need "flexible living require"

Having tax advantages on BTL over residential was madness and has led to the split as BTL outcompeting FTB for properties. That led to the size of the BTL market increasing far beyond its traditional "flexible living"

That has led to a significant cohort of people renting into their 30s when they would have had or do have kids. Schooling and an AST with limited security is hardly ideal. 

 

If you want to know the scale of the problem, in 1999 4% of mortgages were BTL, by 2006 that was 29%.

From the government own analysis on BTL:

"Impact on First Time Buyers Impact on First Time Buyers

The impact on areas of traditionally low priced housing of the type accessible to first time buyers (FTB) cannot be calculated but can be inferred. When residents of lower value areas talk in interviews about landlords buying everything that comes on the market the figures above illustrate exactly how that can work within specific localities. CML figures also indicate a slump in the volume of lending to FTBs and in order to keep pumping money into this market sector lenders have devised new “financial products”. It is now possible to secure a mortgage of several multiples of salary (6 times salary is the highest this author has read about) and for longer periods than previously available (again 40 years is the longest period this author has heard about). This is always presented as the building societies “helping” young people and first time buyers onto the property ladder. But committing households to higher mortgage payments for much longer periods both secures the building society a higher ‘take’ from the households’ total lifetime earnings but also helps protect the value of the assets they hold through mortgages. Increasing individuals’ borrowing capacity helps to prop up prices by allowing them to enter the market and compete with BTL investors, individuals for whom the purchase price of the property they bought no longer had to be connected to the income they had. What is also quite clear is that far from ‘adding to supply’ and helping to expand the housing market, BTL investment is simply switching ownership of a fairly static stock. Since 2003 BTL purchases have significantly exceeded the level of new supply (measured as new completions above) so they are eroding the stock owned by household owner occupiers. Noting this fact implies no moral judgement but it is a significant issue for housing policy predicated on promoting home ownership."

 

Edited by captainb
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amazing how twisted you can think 

 

Yes LLs have stolen the house you were going to buy - Not the other way round - The LLs have provided accomodation for flexible living 

 

Insane 

BTL mortgages give more money to spend on a property than an owner occupier mortgage. Thus landlords outbid owner occupiers. For instance I can borrow £325k for a house to live in, or £525k for a house to let out. THAT is insane.

Edited by Sausage
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...the attitude on this forum towards LLs who have invested their life savings to provide others a home if I ever became a LL there would no sympathy at all.....

Oh.. err.. I have a hunch you might just be on the wrong forum mate. :lol:

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Yes sausage you are 

 

And he is in his rights to bankrupt you for not paying to clean the oven tray which had two brown marks on it when you vacated ....  It goes both ways - Keep going you are winning  

Accept thats not what the law states. The landlord should know this.. along with the deposit. It his business is it not?

 

Since audiation your £250 per lightbulb nonsense has stopped also.

"If a dispute over the return of the deposit does occur, an adjudicator may award a small compensation amount to the landlord to cover the cost of the actual bulbs, but not for calling out a contractor specifically to change a bayonet bulb that is easily accessed."

 

Examples like this just show why the government is right to try and push small time landlords into touch. They dont even understand the basics of the service they are meant to be providing. 

 

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Accept thats not what the law states. The landlord should know this.. along with the deposit. It his business is it not?

 

Since audiation your £250 per lightbulb nonsense has stopped also.

"If a dispute over the return of the deposit does occur, an adjudicator may award a small compensation amount to the landlord to cover the cost of the actual bulbs, but not for calling out a contractor specifically to change a bayonet bulb that is easily accessed."

 

Examples like this just show why the government is right to try and push small time landlords into touch. They dont even understand the basics of the service they are meant to be providing. 

 

See my post above which was more precise - 

What about those LLs who DID agree rent reductions with their tenants - Did they have to - No - But they did it 

Surely the tenant knew what they were signing - Its their business after all?

Should the LL have bankrupted them and forced them to pay full rent

I want a HPC as much as anyone else - I dont want tenants screwing the system and causing anarchy for rentals which we all need. 

 

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amazing how twisted you can think 

 

Yes LLs have stolen the house you were going to buy - Not the other way round - The LLs have provided accomodation for flexible living 

 

Insane 

There is some demand for that sort of flexible living but nowhere nears as much as there are rented properties; you're the insane one if you think that landlordism hasn't increased demand significantly, supported by people who are less in need of a house but more likely to be able to get the means for one. Who do you think is in a stronger position when it comes to buying a house - a first time buyer (looking to live in the pokey starter home in question), or a landlord (already with his own house, doesn't personally need the smaller starter home)?

As for the house  I was going to buy, I bought it and am living in it thank you very much.

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See my post above which was more precise - 

What about those LLs who DID agree rent reductions with their tenants - Did they have to - No - But they did it 

Surely the tenant knew what they were signing - Its their business after all?

Should the LL have bankrupted them and forced them to pay full rent

I want a HPC as much as anyone else - I dont want tenants screwing the system and causing anarchy for rentals which we all need. 

 

What about Boots and co just refusing to play rent as they can get away with it? They have the cash and have traded the whole period, yet have not paid a penny of rent since March20 and wont till at least next year.. don't be naïve and think its just residential tenants using the law to their advantage.

As for landlords giving reductions from the kindness of the hearts, if your tenant lost his/her job since March.. good luck bankrupting them. First you need to get to 6 months in arrears before the court will consider hearing it, then you need a date - June 2021 at the moment. Then the absolute best case scenario is a CCJ against the tenant in say August 2021. Which at that point tenant wouldn't have paid rent for over a year... So can bankrupt or go back to say Spain/wherever and job done.

Would suggest finding an amicable solution - and coming to a lower rent amount is better for both parties. So yes the landlord "did have to", it was in their interest to.

Rules of business change as commercial and residential landlords have found out / will find out. Commercial landlords just tend to be more professional about it - and will take boots to court when allowed to, or realistically settle at a % of rent due, rather than ranting and raving about light bulbs.

 

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Oh.. err.. I have a hunch you might just be on the wrong forum mate. :lol:

Yeah, I was playing and feeding him too but have stopped now. Stops being funny after a while 😉

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See my post above which was more precise - 

What about those LLs who DID agree rent reductions with their tenants - Did they have to - No - But they did it 

Surely the tenant knew what they were signing - Its their business after all?

Should the LL have bankrupted them and forced them to pay full rent

I want a HPC as much as anyone else - I dont want tenants screwing the system and causing anarchy for rentals which we all need. 

 

What do you mean by tenants screwing the system? Insisting the landlord adheres to the law is the EXACT OPPOSITE of screwing the system! In fact the LANDLORD is trying to screw the system!

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went for a butcher's at three 4/5 bed family homes nearby (pretty grubby area of North London with lots of stuff rented out to immigrant families) last week, and all three were landlords scaling back. A small sample size, sure - but it felt a bit significant. And this seemed like the most obvious thread to share it on.

How can you view a property that a LL is selling? Surely it's now an empty plot left by a disappearing house? 😂😂😂

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Has he still not sold up to those wealthy overseas investors?

Lol... It depends what you read... I've just spent ten minutes Googling him (and his charming wife) and it seems they are still in the game and have, allegedly, fallen foul of the law on more than one occasion recently... Worth a read if you have an idle half hour.

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Lol... It depends what you read... I've just spent ten minutes Googling him (and his charming wife) and it seems they are still in the game and have, allegedly, fallen foul of the law on more than one occasion recently... Worth a read if you have an idle half hour.

I doubt that will be true. It will be his manipulative tenants taking advantage of a sweet old man. (according to some😉).👹

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There wasn't an inventory! And a landlord has to return a non protected deposit in order to evict, so you are literally talking out your ar$e

He is stuffed. Has anyone mentioned you can claim compensation for his failure to protect your deposit of, i think, 3 timrs the deposit.

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He is stuffed. Has anyone mentioned you can claim compensation for his failure to protect your deposit of, i think, 3 timrs the deposit.

Yeah but apparently one of thinks that’s gaming the system or summit. 😉

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What about Boots and co just refusing to play rent as they can get away with it? They have the cash and have traded the whole period, yet have not paid a penny of rent since March20 and wont till at least next year.. don't be naïve and think its just residential tenants using the law to their advantage.

It turns out that quite a bit of Boots revenue is sandwiches etc at lunchtime (or Xmas presents in Nov/Dec) hence T/O is down about a third since the start of the crisis compared to last year (and less Xmas spend predicted with them too).

They are already had too many shops and wanted to close some hence I expect they will be quite happy if they get evicted from some premises!

They will want rent reductions at a good few which they will then enable them to start getting rates reductions too.

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He is stuffed. Has anyone mentioned you can claim compensation for his failure to protect your deposit of, i think, 3 timrs the deposit.

I have spoken to a solicitor. You can claim it for each contract signed, so in my case 3 x deposit x 8 contracts. Ha ha

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I have spoken to a solicitor. You can claim it for each contract signed, so in my case 3 x deposit x 8 contracts. Ha ha

Actually, you have to claim within 5 years, so in my case it will be 3 x deposit x 5 contracts. so about £10k total, minus 35% solicitor fee.

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  • 442 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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