Just landlords explaining how to fix the housing crisis | Extreme Britain
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- เผยแพร่เมื่อ 7 มี.ค. 2024
- There are 11 million private renters in England and if you polled all of them, I’m sure 100% would agree that it absolutely stinks.
A third of private renters household income goes on rent, which rises to 41% in London. That means that renters have barely enough for Adidas Sambas or Onlyfans.
Renters are five times more likely to experience financial hardship than homeowners and studies have shown that private renters actually age faster.
With 4.3 million missing homes in this country, the housing crisis needs radical action from everyone. Including landlords. Private renting is the second largest type of home occupation in this country so landlords house a tonne of people.
Ed Campbell wants to know what they’re doing to help out.
Reporter: Ed Campbell
Camera: Harry Ainsworth
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I actually agree with the bald man. We DO need more landlords. In fact, EVERYONE should be a landlord... we could call it... owning your own home?
Historically, most people rented in this country. Home ownership is only a recent social intervention.
@@jim-es8qk Your point being?
and if you dont want to buy or ur unable to? what then?
@@jim-es8qk what’s your point? Also thats not true, people have been building homes on their own land since before the Iron age. It was only with the development of government and tax systems that meant people started paying for the right to live
@@thomaswikstrand8397here, listen. I hate that you want an improvement in your country, and to have it as easy as at least the last generation. In fact, why stop at homes? We used to not have the NHS either, why don’t we go and scrap that to?! It’s a recent invention
The home I purchased in 2023 has appreciated by $60,000 since my acquisition. However, the downside is the diminishing value of the dollar. I am currently contemplating strategies to reinvest $300,000 in the real estate market.
Portfolio diversification is encouraged in the investment plane. If I were to suggest I'd say you need to get a financial expert to assist you with the best options.
Right. Likewise myself, I started delegating my day-to-day investing to a CFP ever since suffering a major steep-down late 2020, amid rona-pandemic, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments.
Wonderful!!! I've recently sold property and aim to invest in stocks, seeking guidance. How can I reach out to them?
Kristin Amy Rose is the certified CFP I use. Just search the name on the net. You’d find necessary details to work with to set up an appointment.
I just googled Kristin and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I prefer the honesty of my landlord. He has 15 properties, he rocks up in a £120k car, brags about how he skipped the waits for a health scan by paying £4K private the week before and then casually informs you that he is going to have to increase rent for the 4th time, not because of rising costs but because ‘all the other houses in the area are putting their prices up’
As he’s wandering around doing his inspection’ he will casually mention how bad this area is now days because of the (insert racism here) and moan how hard it is to get staff to work on his properties (on the cheap) as everyone is so workshy.
He’s not pretending that he isn’t a fat parasite though.
He's got you by the balls and he knows it. He can shit on your table if he wants.
Wow. Just wow.
I rented out my small flat, have been making loss for 2 years, costs are enormous, ground rent, service charges, mortgage, repairs... I couldn't get rid of this flat as the buyer's market is dead 😢
I don't understand how he is complaining so much, because it sounds like he is doing very well
Good for him.
The moment when they say"we lose money but i plan to have more" is absolutely amazing😂😂😂😂😂😂
Best argument against landlords is just letting them talk...
So true, give them the silver spoon and they dig their hole
Nice paraphrasing of Churchill on democracy. Just ask the public about it lol.
Ha, spot on!
Same with lifelong tenants
Landlords "provide" housing in the same way that ticket touts "provide" concert tickets
What idea's do you have to restrict people's freedom?
Home scalpers
They're the Ticketmaster of homes 🤑
Good analogy
Nice one.
The fact they think they're "providing homes" is beyond belief
They lie to themselves. They exploit renters in Britain & lie to themselves, claiming they provide housing.
Buy to let mortgages, multiple landlords are just glorified ticket touts but far worse.
How are they not?... They have a hoover and providing it for a fee.
You can choose to pay the fee and live in the house provided or not pay it and don't.
Agreed... Builders provide homes. Not landlords.
@@Robert-cu9bmThe fee is the problem. You are paying for their property. Literally lifting their standard of living and even lifting them through the class system all by providing you a home. God bless these kind folks eh?
@@Robert-cu9bm
If there were no landlords buying up all the hoovers, then there people would actually be able to afford a hoover from the store.
Landlords do not provide housing, they suck up supply.
But you're right, just chose not to pay the fee and be homeless. Problem solved.
I actually snorted when the woman referred to a homeless charity as a ‘pressure group’
That is a WILD view on the world.
that's mad
Almost every charity is a pressure group
@@alexwebster3895 elaborate
She's only seeing it that way because the charity recognise her role as part of the problem. She is a 'have' who cares nothing for 'have nots' and sees the charity as a threatening force attempting to steal from her.
Of course it's a pressure group. Even if you agree with their mission, that's what they are.
The fact people accept it's OK to pay £650 for rent but get refused a £400 mortgage on the same property is amazing. The British public really enjoy being bled dry.
NOT a landlord here but I can tell you that people need to learn how to play the capitalist game, the ones that do it make money via properties the ones that don't write comments on TH-cam, bad as it is UK it's still a free country. your choice
@nicoanastasio3141 don't act like you are any different. If you understood the "capitalist game", you would recognise the austerity measures put in place that creates socioeconomic instability
What's ridiculous is that it's just as hard to rent a place as it's to get a mortgage.
@@John-ou4rm I agree with you on this one. Especially in London prices are increasingly higher and higher
@@Jamezontoast what does not allow you to buy an house today?
“Supplying/providing homes”… The home was already there, you didn’t build it. All you did was create a middleman that drives up the price to the would-be occupier?
Haha. Guess they could've bought the home and left it empty thus not providing a home for people.
@@vmoses1979property value would have fallen …someone could have been able to buy it and live in it
@@vmoses1979moron or troll?
@@vmoses1979Or just not be allowed to purchase more housing than they need for the purpose of f-ing rent-seeking christ there's a lot of parasites in this comment section.
Yeah. Not letting people stay for free are they
Perhaps if we didn't elect so many Multi-Millionaire Landlords who are also part time MPs, then things might improve?
Yep, you can tell mp's don't sell used cars...
Spot on
Just basic ignorance of simple maths
Unlikely
👏👏👏👏👏👏👏👏👏
Unless you are building the homes from scratch, you are NOT providing it.
What about the wrecked houses. The ones that are boarded up and have no kitchen or bathroom. Only an investor could bring that back to market.
There needs to be the option for sole buyers to attain mortgages for those properties that covers estimated repair works rather than another property auction held in a stuffy conference hall at a mid-level hotel that only people with access to serious sums of money can pay up for. Housing as homes, not as portfolio pieces.
@@clairecassey5880 it's not realistic. The UK is a country of decripid old houses. It takes 6-12 months to completely gut an empty house and rebuild it, but only if know that you are doing. People don't have the time or skills to do that. If there were no property investors or landlords the housing market would shrink. If it became easier for people to buy and all landlords sold up, house prices would increase. Landlords are not the enemy, the lack of house building is.
@@DesperateDan3231 Why not have a >100% mortgage then? I.e mortgage covers the house value + estimated repair value. You don't need to DIY it if you don't have the skills, there's plenty of professionals out there you can hire to do it.
@@UisgeBeathaMountain >100% mortgages would make it easier for people to buy, which would increases demand, which would increases house prices. The only solution is to build millions of new affordable homes. Something only a government can facilitate
They should make it illegal for these people to "subdivide" a house into 6 rooms and charge £700 per room. Utterly disgusting.
I agree greed
Well that includes bills and if you haven't noticed they've gone absolutely mad in the last year as well as interest rates, my properties also include a cleaner.
If that's too much and perhaps there's money to be saved by buying a property themselves, then there is no one stopping them. Oh yes that's right houses are expensive! Well it's not like the landlord has free cash they can throw at homing other people, whilst at the same time keeping their rent below the cost price. People need to be realistic, they seem to be looking for charity or social housing.
Business.. I will earn as much money as possible from my 3 houses.
It's not charity social housing needs to be priority the end bills or no bills in these shared facilities
@marklewis3023 oh so you don't make any profit at all and DO do it for the sheer good of humanity without looking to make any passive income off of other people's hard work as the end result? You are such a Saint!! You have obviously no interest in how bloody hard it is for the majority of people to get on the ladder because of people like you buying up all the homes to rent them out to make a profit. "Buy a house themselves", YOU are the reason they can't!! Yes you!!!! But it's OK mate we all feel so sorry for you, our hearts bleed you must be losing all your money owning all these houses, how do you survive?!
Asking landlords how to fix the housing crisis is like asking foxes how to protect chickens.
This comment deserves an award
The housing crisis is not all down to Landlords, not enough houses have been built in the past and with hundred’s crossing the channel every day it will only get worse, because of incompetent politicians who are too soft.
@@andrewpowers2904 Nope only 90% of the problem is down to them, and they are the main cause of prices going up and up. Yet migration plays a small part but its mainly due to the way we allow people to purchase as many as they want instead of respecting that housing and homes are a limited resource.
@@TheSkunkyMonk you do realise the population is going up in this country, 745, 000 last year immigrants came to the uk, I think you’re a bit deluded. It’s obviously going to have a knock on effect to the people that live here, how is that only a small part of the effect, that like building two cities like size of Leicester to re home them,, when we have homeless people here already that need help.
@@andrewpowers2904do your research, its gone up this by around 4% and that has been going down this around 2010. Also look at how many properties we have that are empty for 6month or more....
Social impacr? WTF. Landlords don't provide housing, house builders do. Landlords extract properties from the market.
And house builders build houses because they are confident they can sell to buyers, also known as landlords. How daft can you be?
@@ronaldchristenkkson why cant they sell to families? They cant because Landlord price them out the market
@@ronaldchristenkkson How does the landlord (i.e. a middleman) increase the house builder's confidence? Middlemen increase costs, by definition. Higher cost means less people can afford that house, means less demand.
@@ronaldchristenkkson There's another type of person who used to buy houses, let me see if I can remember what they were called... homonus? Homo nurse? How mow knurrs? No, it's not that, but I'm getting close...
if you resent having to pay rent go buy your own house!
Landlord “It’s a good way of providing social impact by providing homes” No, mate. The builder provided the home when he built it back in 1935. What you’re doing is charging someone 75 percent of their monthly income for essentially doing nothing. A lorry driver transports things, a bricklayer builds walls, what does the landlord do? Makes money on the exchange. Basically, a wealth consumer that produces nothing. No different from a person sitting on benefits living off the tax payer.
I call them leaches,parasites etc
I don’t really understand - without landlords there’s no housing for people no? Or should the government own all the property and rent it out instead? What system are you proposing instead of having landlords?
@@Mathew-ff6xo”Without landlords there would be no housing” Where did the houses come from? They were built by builders and sold to home owners. Landlords did not build houses, they simply bought houses and then charged people to live in them. Most where privately owned at some point. If you forced all landlords to sell tomorrow, what do you think would happen to house prices? If the market was flooded with houses for sale, supply/demand dynamics would cause the prices to plummet to prices people could afford to buy.
60% of the landlords I've ever had, have not maintained their properties.
I will second that. Unless they live in the house as well, things do not get fixed at all.
Same experience and they all believe they do lmao.
Is this "60" figure upside down?
Lucky
All my previous landlords have done the bare minimum. In one a ceiling collapse was left for five months and was only fixed after we put up the Christmas tree upside down in the hole so it appeared to be sprouting out of it. The botch job done by the landlord was dreadful and the poor plasterer they brought in to plaster over the boards they put up was appalled. The telling thing was the landlord's adult son came with them to put up the plaster boards and said that if it was his house they'd take down the whole ceiling and do the lot only to be given a look by their parent which said "I know but this is only a property I rent out".
I can't believe the woman who went for Shelter who are a noble charity that provides services free across the country for homelessness, eviction, and financial problems.
They have lawyers at every court to represent those who can't afford support in hearings of litigations (mortgage or rental)
Calling them a pressure group shows such a lack of humanity
Not that hard to believe though is it. They're parasites.
I disagree with most comments on this thread but yeah you are right on the money here, she really is a piece of work
This comment should be higher up !
When a previous landlord didn't return my deposit because the house was "dirty" when we left even though we paid for a professional cleaner to spend 4 hours cleaning. It was shelter that helped me understand my landlord wasn't protecting my deposit as required by law. They provided free advice and even templates of letters to send.
This lady thinks they do nothing because she is not in the position of someone renting. She is literally blind to the perspective of someone renting which makes me worried for her tenants!
they have no humanity, they are in it for one thing and one thing only, COLD HARD CASH...
Probably best for my blood pressure that I don't watch this.
Yes meanwhile you probably bank with Lloyds who are buying thousands of properties, but target the middle clases
Yup, had to mute it.
@@tf2368Lloyds owns almost every uk bank so there’s no choice
dw youre too acquiesant to do anything about it. i just say fair play to these landlords. the common person is too feckless to do anything.
@@potato1084 no they don’t
HMOs for professionals… once upon a time it was the entire house for professionals not a single bedroom. How the living standards in this country have fallen. The housing crisis is a crime. There should be no such thing as private renting
I've personally got no issue with someone owning two properties and renting one out, in fact it's very common some people have a holiday let they use themselves from time to time. The issue is multi-million/billion pound developers hoovering up all available land, slapping flats down and renting them at prices a person who could afford a house outright could afford.
Keyword being owning. Not mortgaged. Buy to let mortgages are a cancerous scheme for the banks greed.
We'll never reach a point where everyone can own their own property either. Landlords are required, but owning 5, 10, 50, 100, 1000 properties like some do should not be allowed at all.
It's not just rich developers, many normal people go into the landlord game hoping for easy return on investment. It's not unusual for a private landlord to own 5 or 6 properties. Plus the rise of 'rent to rent' has made things even worse with greedy middlemen making a bundle letting out properties they don't even own.
@@ArmourGX”public housing”
My heart really bleeds for people extracting our wealth and providing nothing to society except increasing the cost of housing
You choose to give it to them.
@@Robert-cu9bm except we don't have a choice do we. It's rent or go homeless
@@ajprop99
Stay living with parents, buy your own home, move in with friends, buy a camper van, buy a caravan, buy a boat.
Lots of options just means a sacrifice.
@Robert-cu9bm oh yeah buy something to live in didnt think of that, only problem is with what money we are all skint, all the money is spent on rent and food.
Also not everyone has friends and family that are willing to host someone or have enough room, most of them are probably renting anyway.
Farmers and Tesco are extracting your wealth in exchange for food. You could grow your own but I assume you don’t. You could build your own house but you don’t, so you have to pay someone else to do the things you can’t do.
It’s how economics works.
My heart bleeds for all those milking us for their passive income.
Their passive passive income because as long as houses go up in price, tenants aren’t even a requirement to make money!
As if all renters pay on time, don't purposefully destroy property, and use the court system to stay for free.
if people like you actually had to buy the property you are no doubt living in courtesy of your landlord you could never afford it!
right on! @@ronaldchristenkkson
@tinch Well maybe in another life tinch.😊
Landlords would generally have people believe that they 'provide housing' and that they have a mature, professional outlook. These are the same people (who are often 40-70 years of age) who effectively have their cars, holidays and designer clothes paid for by 20-40 year olds on low wages. Why don't the landlords go out and earn money, save it up and then buy the things they desire? If someone does not wish to own a sports car or go on a cruise, why should they have to foot the bill for someone else's? Social housing as well as limiting house purchases to one per person would solve a lot of problems.
Around 40% of landlords don't have a mortgage on their rental property. Why have 100% of landlords put rent up for their tenants?
That’s my landlord. Rent up 22.5% per month this year. Property bought in cash 8 years ago. Scum
They'll use bullshit like "the local market rate went up x amount. So your rent is".
@@HollowtrianglesThat's a pretty steep increase. Are you looking at other options in that case? The increase is above the market rate so you could argue that its not compliant with your tenancy contract if its not detailed in there.
The interesting thing about renting a property from a landlord is that you become the primary provider in their family too!
Do you have any numbers on that ? You know ones that take into account interest rates and section 24?
Think you'll find there's a loophole for section 24 and if they're taxed on the gross rental income so what?! The amount they charge is well over and above any downsides, you think they do it for the good of mankind?! 😂
@@jonathanrichardson1580 man!!! Listen up!
That’s why all the small landlords are selling up!
When section 24 came in it was 80 percent small landlords…
They are going…
The banks pension funds and corporates are coming in!
You try renting from a corporate landlord 😂
You just don’t see what they are doing and that’s deliberate!
Small landlords will just invest in something else. Tenants are the ones that will suffer.
Now shall we run some numbers and prove there’s no money in it with out incorporation ?
Remember incorporation is only worth it if you have five plus properties.
@@jonathanrichardson1580I almost became a landlord last year and actually ran the numbers, 3.5k per month of income on a 4 bed flat in london and it would have cost money eg not profitable...
@@oldmanheats8087 I bet you're ignoring the value of the equity, like most landlords love to do.
Someone paying you rent that is below your monthly mortgage payment is only unprofitable if the rental income is lower than the maintenance costs and interest payments on the mortgage.
The hatred for of all things Shelter is just bonkers.
in a narcissists mind anything that doesn't support them is bad
my jaw legit dropped at that part
Yeah when the first thing you can think of that's challenging your lifestyle is a charity, you gotta realise that maybe you're the bad guy
@@chrismorrislupb6681 Shelter have run a very aggressive anti-landlord campaign and partly this has led to the mess we are in no, as the government have gone after landlord in style over the last 5yrs. Hence shelter have a very bad name amongst landlords
@@manjeetgill1 ah yes, the tory governments greatest enemy…the property owning class
The problem with taxing landlords is you know exactly what they'll do, they'll just increase the rent
Pretty much all tax increases applied to people who produce things or provide a service are passed on to the consumer in the form of price increases.
So don't tax the landlord, cap the rent.
@@planetjason1 why is price fixing your proposed solution? Prices are important pieces of info.
@@TimG-lq1peit can be done dynamically. for example not higher that x% than the actual utility cost
@@friendshipwhiskey155fixed prices housing has disastrous effects. Several big cities do it in america and it has the opposite effect you desire
Landlords don't seem to count the increase in house value as part of the equation
They keep calling themselves housing providers? Are they building houses?
I prefer housing hoarders.
Tesco doesn’t grow the food!
@@heckings No but they source the suppliers and distribute it to locations where we can collect it from. They're actually providing a service that wouldn't happen without them.
They take a single house and make 25 bedsits? 😞
@@heckingsTesco don't call themselves food growers or farmers. They're a supermarket. That's what they call themselves.
"WONT SOMEONE PLEASE THINK OF THE POOR LANDLORDS?". My heart bleeds for them
Time to sell up and stop tenants renting
@@anonomous8719please do
Buy your own house if you don't like it.
@anonomous8719 That makes zero sense lol
All that would do is increase the housing supply which then causes house prices to fall.
Landlords provide housing the same way ticket touts provide entertainment.
@carguyuk7525 Hahaha not sure if you're trolling or serious
"We're trying to provide homes for people" amounts to 'We're trying to stop people buying their own houses'
How? Every house is for sale to everyone.
@@sirianofmorley a house owned by a landlord is not available to buy. It’s available to *live in* but not buy. When you buy a house, the only money you’re losing is the interest on the mortgage, and repair costs. If you’re renting, you’re losing 100% of the money that goes to rent.
@@X4zerm4n you also have no burden to pay any repair costs, stamp duties, solicitor fees or anything else related to owning. It looks really favourable for your argument when you either deliberately leave pieces or don't fully understand.
Owning and renting a house work out roughly the same long term, what you are actually missing out on is capital growth of which will be snatched away from you by a care home in old age.
Good luck to you though - hope it works out for you whatever your plan is or isn't.
@@sirianofmorley so you agree with my point. They cost roughly same in the long run, just one nets you with an asset which can be sold later for cash.
@@X4zerm4n that part is fine. But nobody is stopping you from buying a house - they are for sale to everyone.
She seems to think of herself as "providing" homes... but she's not building them, she's just preventing other people buying them.
They dont seem to understand if they say they are struggling then go onto to talk about how they are looking into purchasing more that it shows they are making money.
Also talking about struggling with money when they have a fucking ASSET of a house to sell if they were in dire straits.
Yeah let me play the smallest violin for your "worries"
Landlords are leeches. They're middle men that force themselves in between the builder and the families that want to live in a house
@@melissagola3786 very god damn true, if they are struggling they have the ability to downsize and have quite a lot of cash
No sympathy at all for landlords.
They don't provide homes they exploit the otherwise homeless.
We say we are struggling so the Brokies don’t get too angry - it’s just easier to pretend to be struggling.
Crazy how these landlords seem to think they are giving something away. When in reality they live off someone else’s labor. So a parasite.
A little harsh maybe? I mean they're not taking the money in exchange for nothing?
Yes, exactly what they're doing. Either they take 30-50% of someone's wage as pure profit (UK has some of the worst housing conditions in the developed world) or their mortgage is being paid off by the renter@@tomtative
Yeah, they didn't pay any money first. 🙄
@@ekay4495 It's not even close to pure profit, and what bench marks are you using to claim the UK has some of the worst housing conditions in the developed world?
Parasite? That is capitalism, whether you like it or not. Everyone is paying someone for the provision of something. Do you get food for free? Energy for free? If your parents left you a home, or you came by it through some other means, would you sell it, rent it or give it away for free? What would you do?
Rent is theft. Landlords don't provide a service, they exploit a need. These people are evil.
So should the owner of a property let you live in it for free then? Are you going to contribute to their costs of maintaining that property while you live in it?
@@james8081 Yes, they should. They get their money back when they sell. Low maintenance fee of e.g. max £200 per-room-per-year could be paid into a maintenance account alongside the deposit, which the tenant must be able to see and can only be spent on maintenance. The government should start by freezing then phasing rent out over a number of years, taking properties back into public ownership as necessary to control the market.
@@OverwoundGames It costs far more than £200 per room per year to maintain a building in safe and useable condition; especially an HMO. There will also be the need for major repairs and refurbishments/refreshes on an intermitent basis in order to keep the property marketable. I'm afraid your opinions don't align with Planet Earth, along with your perception that Government can fix all problems. A large part of the reason that houses are unaffordable in the UK is the preponderance of a debt-based monetary system. CPI rather than RPI is used as a measure of inflation by Central Banks (the latter includes property prices, the former doesn't, and is heavily doctored via hedonjc adjustments), and the industrial debasement of our currency via Quantitative Easing since 2009 - combined with ZIRP (Zero Interest Rate Policy), leading to asset price inflation, which includes stocks and property. It is facile to blame small private landlords for an unaffordable property market when they are a symptom of the disease, and not the problem. The problem is "the money" and the Central Banks who set the associated monetary policy. I would encourage you to watch some of Dominic Frisby's videos on this subject, rather than waste your time bashing private landlords in TH-cam comments. You will gain a much better understanding of the overall problem, and possibly the knowledge to be able to better your own situation.
@@OverwoundGames To add to my prior and much longer reply, anybody who has had the pleasure of dealing with a leasehold or social housing department at their local Council could disabuse you of the notion that taking housing back into public ownership would fix the current problem. These people are not easy to deal with, and it can take constant and regular chasing. The public sector have zero incentive to offer an efficient or competitive service, because they represent a State Monopoly with no competitive threat to what they offer, to incentivise them.
@@OverwoundGames Why do you think a State bureaucrat will give a toss about tenants? Some of the worst abuses in the sector have been with Social Housing Associations and councils trying to recoup money where ever they can.
I'm always so impressed by the way you guys manage to soften up these horrible people to get them to demonstrate just how awful they are by talking. Bravo 👏🏼
Yeah to be fair it's kinda sad for the leeches too when they suck so much blood out of their host that their host dies.
EXACTLY
Are you taking about humans as a species? I agree!
I agree there are some really terrible tenants that don't deserve good accommodation
@@mikedudley4062 you’re a demented person. Do you think that some people deserve to live in poor conditions or be homeless?
There are lots of people I wouldn't want as neighbours. Let alone living in a house I hypothetically owned.
Landlords provide absolutely nothing, they just hold property to ransom.
Then don't rent from them. If no one is renting from them then the market value will go down.
@@Robert-cu9bm you seem to be going around the comment section implying that people choose to rent. That is just complete bs
@@Robert-cu9bm are you dum? we all still live in the current system however much we'd like it to change.
@@Robert-cu9bm "dOn'T rEnT fRoM tHeM!!" Ahhh yes the entirely voluntary decision to be homeless instead of renting from a private landlord. Very few people are renting out of choice. It's because landlords exacerbated the inflation of the housing market that makes it impossible for us to buy whilst also taking a higher and higher percentage of our wages to pay for their mortgage, which means we'll never have one of our own. They, and the system that rewards them, are the problem.
@@macfrenzy6544
🤣 If you're going to insult someone for being DUMB.. At least not look dumb by not being able to spell simple words.
I don’t think there’s anything wrong with having a portfolio of properties to rent out but charging high rents, having unreasonable rental terms and not keeping the condition of the property good is definitely wrong.
1. Landlord are not trying to "do the right thing". Landlords are trying to make money. They couldn't care less if a tenant died. They would just want to know from the family how long it will take to clear his stuff out because they want to rent to another tenant to fill their properties.
2. The are not "housing providers". If they didn't have those houses then the government would have them for people. They didn't build them off their own back.
3. One house is enough. Greed Greed Greed.
I am glad the Gov has reduced their profits.
Just went through rent re-negotiations with my landlord on my already expensive flatshare in London. They insisted on a rise not based on their costs going up, but actually on the fact that the London market has gone up by 6% in the last year (while also not sharing any of their research). How anyone can justify this never-ending upward spiral based on nothing but greed is beyond me.
Nobody is stopping you from leaving.
@@ronaldchristenkkson The response of a child.
Except silly insignificant things like your life or job. Are you a landlord bot? I've seen it all 😂
Because they can.
@@David-bi6lf
He's not wrong, you negotiate if you don't like the terms leave.
How many units can we get out of this house. Eugh. That right there tells you everything about these people. Human needs are irrelevant, only money matters.
Perhaps don’t rent a house share then surely?😂
@@alexc225that's not exactly a choice now is it nowadays
I saved for 40 years to buy a rental property for retirement. ..just a warning to anyone thinking of being a landlord, its not easy, I have had to evict 3 tenants for non payment. .even though their benefits covered 90 %of their rent, they would rather spend the money on cars holidays drink and cigarettes, in fact anything other than rent, then when they receive the court papers, you get shelter on the phone. The court system is broken and you end up losing thousands each time this happenes ..ihave a lovely young couple in the 2 bedroom house, and hope they stay
Shhh, you might piss off the socialists
The question remains: what are you giving to society when profiting from your property? Nothing. Your action feeds from a basic need of any human being and in exchange you are not making anything. It is a parasitic relationship with your tenants, it always be, and your community at large is seeing nothing in return. If you saved for 40 years for a home you should know this, it's quite clear, but the mental gymnastics that landlords do to justify their acivities is mindblowing.
If you had problems with three tenants because they did not pay you (referring to their income is quite que lowball, but you're a landlord so no surprises) it is on you:
First time? Ok, I am sorry about it.
Second time? Didn't you learn?
Third time?? Are you stupid?
The story of your failure made my morning thanks for sharing
The problem is that banks lend far too much for people to purchase properties. Banks should be restricted to lend only 80% of the cost of labour and materials on new properties, as properties get older banks should lend less against them. You can't get a loan on a 5 year old car for more than it cost new, houses depreciate, need rebuilding in the same way car and other assets waste. Without all the lending no one would have the cash to pay huge amounts. Essentially the inflated prices allow developers to make billions on imaginary land prices. Builders should be paid to build only, not to pay Financiers such as the US Carlyle Group. The pressure build is created by the deliberate policy of mass immigration. Both home owners and renters are being used to fund the financial industry, to billions to bankers and other lenders. Indeed, the banks don't take deposits from savers and lend the money on a one to one basis, thanks to 'fractional lending, banks take desposits and lend say five times that amount out. So firstly we need to scrap fractional lending, then acquire land for either private or social homes, except those who rent social housing will also get to own their home after x years, the council would use some of the rental income, after maintenance and admin, to build more houses.
For those who have money to invest they should be investing in companies that provide services, manufacture things. Far more of our income should be going into long term savings, to fund UK infrasturcture, UK utilities, instead of othe countries pension funds such as the Canadian Teachers owning our services, utilities, we should own these ourselves, not the government, not wealthy Arab states.
The more that individuals opt out of paying private landlords, or borrowing from banks, then the quicker the madness of the debt fuelled property ponzi enslavement will finish. Property letting should not to generate an income for the owner, it should be to provide and maintain accommodation for the cost of the labour and materials, think of similar to managing agents for blocks of flats, where the service fee is for work carried out, insurance costs and a fee for managing the tasks.
I recollect that, I think it was some of the Royal estate or Government where the reasonable cost of housing was considered to be 12% of the individual's income per year. So for those working full time 37 hours per week on the minimum wage of £11.44 per hour their salary from 1st April 2024 will be £22,010.56, after tax, NI and 5% Pension would leave an income of £ 18,398. 12% of that is £2,208 per anum or £188 per month. Think of the change in their disposable income from the typical £1,000 per month rent. A couple renting a home for say £1250 per month currently would have decent amount left on a total rent of £368, although I believe rent / housing costs for couples and parents should be capped at 12% of the higher earner's income.
Turning rents into a capped level would save the government / taxpayers billions in housing benefit, which currently flows into Landlord's pockets. At the same time, minimum space standards should apply person. Instead of tiny rooms being let at huge prices in London, a minmum of say 300 sq feet of space should apply, per person, with limits of the numbers in HMO's.
You don't "lose money" every month when you end up with a valuable asset at the end of your mortgage 🤷♀️
They're used to buying cheap and selling high, risk? luck? No they're just smart ones for finding the money trick!
The concept of a stagnant asset and high interest is foreign to them.
One reform should be you are not allowed to have a mortgage on anything but the home you live in. At the very least the rent should be fixed at the price of the mortgage. Like previous poster said, the landlord gets the property at the end of the 25 year investment.
One idea that I found intriguing is extending right to buy to private rents
If you've paid rent on a place for the required time, you have the same right to buy at a diacount as council tenants do
@@markwelch3564 I worry this would motivate landlords to kick tenants out on a regular basis.
funny how these people never mention this
Ah yes the old evil bastards... Shelter :|
Pressure group.. not a charity... unbelievable
Hmmm shelter not a charity (but it is) but Eton now that is a charity (but it ought not to be).
Too many migrants you are competing with
Since you love Shelter so much, ask them to provide you with...
Shelter :)
When your enemy is "shelter" you surely can't consider yourself the good guy 😂🙈
“We’re feeling the squeeze too” as if they aren’t the main cause.
A landlord's definition of losing money is not making as much as they were before. So for a good chunk of these people when they say they're losing money they mean that they used to be able to make £8000 of pure profit. And now they can only make £6000 of pure profit. And to them that constitutes losing money every month lol.
this
actually, in the UK, you can loose money on a property. I am owning a house where I am living at the moment, but at some point I was considering to buy another and let this out, but when I did my numbers, it doesn't look that great, so I doubt that I will do that. Lets say, I would manage to let the house out for a £1000 per month, then I have to pay 40% tax on it, which will leave me £600 per month, then I need to pay mortgage for this house (at the moment I pay £500 a month with old interest rates of 2.5% and for residential mortgage), so I would substitute 500 out of 600, and I have only £100 per month, if mortgage rates will be higher when my fixed term ends (and they will be higher), then I am completely screwed! I don't know how some landlords can make any money at all! Teach me please if you know how they do that.
Lol incorrect
You have absolutely no idea how it works.
You're blinded by the propaganda that is likely funded by the larger REITs to squeeze out small landlords.
@@tatjanav9657 I'm not an accountant and this is not financial advice but as a layperson, it seems to me you should set up a limited company to buy the house you want to rent out. Declare the mortgage and repairs as a business expense. You then will only pay tax on the profit from the rent after you've paid for mortgage/repairs etc, and that's at 19% corporation tax. Any rental income over that you choose to take out of the business you would declare as dividend which is taxed at a much lower rate than salary. And that's only if you choose to extract it. If you leave the money in the company, the company can invest it in a high interest savings account or stocks and shares and provide a bit of interest/dividend income too. I'm a renter myself but if I had the capital to buy a second home to rent out, this is what I think I would do. Accountants feel free to chime in on why this is a terrible idea 😆
Landlords should fully pay their mortgages first before retenting out their properties. I do not understand why renters should pay for their mortgages
*and Taxpayers, plently of landlords rent to Councils.
Renters pay market value rent. If rents are high its because their are not enough rental properties in the market
@@jim-es8qkno shit, a lack of houses being built and all spare accommodation being milked for some wanker's passive income leads to this sort of thing
Either easy your paying for it.
You don't have to, buy your own
Landlords offer a product that consumers are either willing to take or not to take. The competition amongst landlords is considerable. How they manage their finances is irrelevant.
Would you not buy a Toyota because of the company's debt? Product and price. That's all that counts. If you want the price to go down, lower demand. If you want less demand, lower immigration. England's landlord's biggest fault is that they've been pro immigration for the last 40 years, and they knew exactly how to capitalise on it, too. They convinced the left that immigration was good.
Landlord next to me owns 60homes. He has now put them all up for sale including his own home. Why does someone need 60homes baffles me.
With the man in the red coat, thats typical. He earned A LOT of money through his job, and could enjoy an early retirement. He then earned A LOT MORE money becoming a landlord. And then his only regret is not making EVEN MORE money mortgaging rather than renting.
Id love for these landlords to speak to rough sleepers, homeless families, young people like me (27) who have never been close to being able to afford their 1st home, and people like my friend forced into a caravan in a lay-by by multiple greedy landlords.
Maybe then they would understand financial hardship isnt just missing a holiday to the Bahamas, having fewer 'assets' and having less than £100,000 in the bank...
Gary's economics. A brilliant platform.
He's a boomer, what do you expect? The generation that got, got, got that whines about the generations that "want, want, want".
Totally agree. But... At the same time, do we really want to ban the right to own more property that you can legally afford? Well, actually, come to think of it, wouldn't rationing make sense? They did it with toilet paper ffs!
Just getting flashbacks to when my landlord charged £30 to clean an already clean microwave that would cost less fo buy new and also charge me for the water damage caused by the faulty pipes. Was moving to the other side of the country so couldn't properly fight my corner. Evil bastard.
If government built lots of social housing and competed with low rents, alot of landlords would loose their tenants. It would make the benafits paid to landlords cheaper for the government. Government are always looking for savings. That's a long term one. @@powpow8869
And who's fault is it that they are in financial difficulties?
Interesting how many landlords believe people having somewhere to live is an industry and not somewhere to live. Shows how low they have fallen. Next they'll be blaming charities like Shelter for reducing their profits. Wait, someone actually blamed Shelter.
But having somewhere to live literally is part of an industry: the housing industry(?)
In some european countries it is not allowed by law to make a profit from a flat, the rental or maintenance costs nor energy costs and the flats are owned by a large company or group, the flats are for dwelling in not making a profit because its seen as a human need, rent is kept to a minimum amount to support this.. the flats are always rented and stay under the ownership of the large company/ group never sold individually. Energy prices are also capped to support the tenants. While this setup may not give direct access someone wanting to get on the property ladder it does allow for people to live comfortably and to save for a house. It supports the many who are not rich.
I'm 32 and bought my first home at 24. One thing is for sure though: I couldn't have done it on my own. It relied on getting married at 21, living at home until that time (and even a year after getting married!) and pooling all our savings and income. One person can't save enough on their own for a deposit. It isn't possible. Stay at home, save up as best you can, get married, pool your resources, buy a crap starter house like we did, do it up and trade it in for a better one. It's worked for generations and largely still works even in this climate. Rent is a trap. Avoid it like the plague.
With the events of the last couple of years that's become even further away for people than it already was thanks to the huge interest rates increase. Thanks, Liz!
the same guy that mentioned social impact said that landlords shouldn't help to alleviate the housing crisis. The truth is that the UK needs more non-market/non-profit housing, and not these clowns.
If you buy a house, and have someone else pay 80% of its value, you’re not a landlord, you’re a scrounger getting a free house.
Exactly!!!!!
Out of interest, what percentage of a property’s value do you think is acceptable for rent? Not everyone wants to buy so sone rental properties are necessary but it wouldn’t be reasonable to expect to pay zero rent. I don’t have an answer to this question myself, just curious if you do?
@@pete1942Zero. Rentals should be publicly owned - not a penny should be pilfered off as profit.
@@thomaswikstrand8397 But zero percent would be zero rent. No council will hand out homes for free.
If you asked for an 80% investment in your business, the shareholders would expect 80% of the value of that business if it was sold on.
If you put down a 20% deposit, and someone else pays the mortgage for X years, then when you sell that house, why don’t they own the percentage of it that they paid for?
Because it’s a scam.
I was forced out of my rented flat last year after living there for 20 months, because the landlord's agency told me they were increasing the rent bt 42%. Their justification was that they hadn't increased it before because of covid. The average yearly rent increase in my town was 3%. Funnily enough, my employer wasn't able to give me a 42% payrise to match my rent increase.
I’m 35 and unemployed so I’ve had to take a weird housing situation where I live in a council house with a strange couple that make me call them Mum and Dad.
I’m starting to think this country is broken but I do hope these out of touch wealthy people don’t feel the brunt.
The Armed Forces is recruiting
@@DesperateDan3231 nah I’m alright I don’t feel like fighting for a country with a track record like ours. And in turn you wouldn’t want me defending the country I’d be pretty useless at it. I’m more into the arts than weaponry.
And also I value my limbs too much I have found a passion for wanking in the middle of the day being unemployed and stepping on a land mine might effect that.
@@DesperateDan3231 nah I’m good I wouldn’t want to fight for a country like ours. Also I’m more into the arts than weaponry.
@@Chris-rl9on don't rush to discount a career in the Armed Forces. If you joined now you'd be able to retire at 55 with a decent pension. You'd also have access to very cheap accommodation, food and travel. I have military colleagues who are videographers, photographers, musicians, linguists and cultural specialists. Each camp also has some sort of arts studio or society. It's not all flack jackets and guns. Keep well.
And ptsd potential loose a limp, became neglected by your own country who don’t care about you, it’s easier to recruit fresh meat for the meat grinder then trying to fix the person when they come back
Housing providers hahah, the house was there for use before you bought and rented it out mate...
It was only available to buy though and not everyone wants to buy. When I was a student and for some years after I didn’t want to buy a house (Not that I could afford to) because I didn’t want to be tied down to a specific area. Rental accommodation is needed, just not with the associated price gouging that is the current norm.
- use your wealth to buy all the food in a supermarket
- offer the food to hungry people for double the original price
- "I'm a food provider"
@@imnottellingyoumyname3050that’s an age old business plan… Amazon eBay full of shops who bought from wholesalers and sell to public… do you think everyone has to make something? 😮
Lots of houses for sale, go and buy one
@@imnottellingyoumyname3050 That’s not really a fair comparison. Landlords do not own 100% of housing so not ‘all the food’ and to buy a house you need a deposit which not everyone can manage, so your supermarket would have to charge an entry fee on top of the cost of its products. The rental market is broken in that people are forced to rent instead of buying, but for some, rental properties are what they need. Fair rent and fair contracts are what’s needed.
When I used to live in Southend it was well known that there were 4 families that owned over 500 properties each. It is obscene and they control the market
15% interest rates and NO bailouts would fix this mess in a month.
They complain about losing money, but conveniently forget the fact that there is someone buying them another house.
Crisis a charity helped me back into a place until I was able to be rehoused back onto social housing 6 years later.
so we need more houses, so that landlords can buy more houses so there are no houses again? Did I get it right?
Exactly, it really annoys me when people say build more houses to fix the housing crisis. Yes there is a shortage of actual homes, but until we fix the private rented sector all you're doing is allowing the already wealthy to build their wealth.
"why so glum?"
"my source of passive income is making me less money!"
"Could you sell it?"
"Of course but..."
"Would you lose money?"
"No but I would make less money than I was hoping"
Having been a tenant for many years the idea that landlords work hard for their rent is such a lie
Agree If they worked hard they would allow 'wishlist' improvements on some of the profit ie more PowerPoints etc.
Likewise Pay rent and look after house but when I ask for a fix (to protect) their asset they go all defensive thinking I would somehow knock a tile off the roof. Don't even get on the roof
I respect your patience in not asking the guy who says he's a "Housing Provider" whether he's built any houses.
All those people who claim that they can't afford to buy a house are talking rubbish ! Of course you can buy a house ! But, for someone else, not for yourself obviously 😢😢
well yeah! Our government is happy to help people with rent so that cash goes off into private hands but helping people buy there own lol.
I love how they all paint themselves out to be providing a Saint like service as opposed to what it is. Opportunistic profiteering and fiscal predation.
"All the good lords" - 4:34 that slips shows how she views herself, as a lord.
Funny how these house stealers claim they are providing a social service, when what they do is raise house prices, create HMO’s.
I do not wish to prevent people becoming financially independent, just not on the back of those people competing to purchase their own home…
They own the asset and have their tenants pay their mortgage?!
Absolutely ignorant people.
This only happens due to the excessive demand. If the government would have met it's house building targets we wouldn't be in this situation..
@@AlexSavage700k more people moved to the U.K. legally last year…however many houses are built up it won’t matter.
@@mollymo6229 it would if we were to keep pace, don't forget that many have died since 1980s too and having motivated immigrants is a force.
If landlors can't afford to pay the mortgage of their properties and they're feeling the squeeze, maybe they should stop buying avocado flats and caramel latte bungalows all the time.
I’m genuinely lost, and have been too embarrassed to ask people I know. I really am missing why landlords are so hated.
They’re exercising their rights. Most of these people didn’t seem to be the generational wealth type. Any issues are clearly a government issue. They’re not making the right policies and laws to protect tenants and prospective buyers. It’s also predominantly a supply problem, more housing is needed regardless of who’s owning them.
Landlord outbids some struggling young plebs at a house auction. They are 'providing' a home.
What would fix the housing crisis, is building a few million affordable homes
Only with some provision like you can only buy those homes if you don't own any property at all. Otherwise landlords will buy them and jack up the prices.
There are Tory MPs who legitimately think the crisis can be solved without building more houses.
@@Tommyleini
Absolutely. It means having a provision like that.
@Gph But not where you live..and that's the problem!
@@chatham43nah screw it my house price plummet if it means younger people can buy a house.
Tenants feeling the squeeze:
Might be evicted and made homeless
Landlords feeling the squeeze:
Losing money but still owning an incredibly valuable asset but being super upset because their EXTRA money is lower than it was.
I agree with your comment to a point but not all. Did you know that if a landlord has a bad tenant it can wipe out several years of profit? This is a business at the end of the day. If it's not profitable the landlord will be forced to sell possibly at a loss, the tenant will have to find another place at a higher rent as the housing stock will be less. Think about it..
No they sell it reducing rental properties available and that's why you get 50 applications per property
@@mikedudley4062I’m curious about why you think that is the case? The property generally doesn’t vanish when sold. Either it is sold to another investor and is still available to rent, or even better, gets sold (cheaper?) to someone who wants to live in it as their home. Possibly moving someone from renting into home ownership. Why real estate speculation should be a protected form of investment is somewhat confusing.
no, renters rarely buy because of a number of reasons.
They don't want the responsibility and cost of buying
They can't afford to buy or have bad credit history so no one will give them the money.
Renting is largely temporary accommodation for people moving jobs or changing cities... So renters rarely buy.
The property is lost to the rental sector, thus as a result there's an even bigger shortage of rental properties, making it harder to move, or change cities and leaving areas of the city without jobs filled and struggling economy.
At the high of home ownership under Thatcher 68% of people owned, which means 32% never have, and never will. Yet the last time I relet a flat, 50 people wanted it.... That has trebled in the last 5 yrs, and with 700,000 immigration that's getting worse and worse. Shrinking rental properties and only 200,000 built due to "green policies"
@@mikedudley4062 A LOT or landlords are now asking for credit ratings as part of their applications now and asking for a full year (sometimes more) rent up front. The difference between renting and buying is becoming more and more similar for a lot of people.
Green policies also have fuck all to do with things, nor do immigrants. It's rich land and property owners being members of the government who want to do all they can to ensure their assets are worth as much a they can get for them, by lowering the supply of product to a market in VERY heavy demand. Blame the government for their lack of new building schemes and shitty regulations that perpetuate the issue. Not the people actually looking for somewhere to live.
Appreciate that lady shouting out Shelter. Good charity doing good work!
It's a strange state of affairs when foreigners own more property than the countrymen, and the countrymen rent. Wtf has happened
This is what’s wrong with our country too many greedy selfish landlords.
Too many migrants taking housing.
The problem is too many people want to live a Free Life...
55% of people take more from the tax payer than they contribute....
If you did that in your own company you'd be losing money and go bankrupt.... Oh the country is, funny that 🤔
What's wrong that ignorance is so prevalent from people that don't understand these things actually cost a lot of money and aren't free....
Buy your house, you pay the £3,500 for a new boiler and the annual £150 service, or the £30 a month for building insurance, what about a new bathroom and kitchen every 10 yrs at £12,000(cheap) or £1,200 a year and £100 a month, the trouble is because you've never had to pay the costs of repairs, so you have no idea of the real costs that aren't free
Comments like these are what's wrong with this country among others..😂
I'd blame the banks who fund all this misery in the name of profit....
Landlords steal the home equity of the working class. Having a nationalized mortgage bank that guarantees home ownership to all working class, would allow those forced to rent, due to unatainable private banking requirements, to build their own equity.
Try a communist country, you'll definitely get housed there..
You idea is very interesting, however what will happen to immigrants who are new to the country, will they be allowed for a house with this nationalized mortgage? And what about 18 year olds who don't want to live with their perpents any more?
Absolutely a nationalized mortgage bank that is a monoploy is the right way to go. The government can print any amount of money needed to enable everyone with a job to own a home and build equity. And the interest paid can be used to fund the government.
@@vmoses1979 sound good, try China
@@AlexSavage Wankers never present a solution - they just wank away.
These people - the one who said it was an opportunity dividing a house into five units says it all.
Imagine thinking you are a good person whilst simultaneously putting down charities and calling them pressure groups.
More housing association, more council homes. Fuck landlords, even the 'nice' ones
I’m a “nice” landlord.
Thank you for your “fuck”. I just wished I gave a “fuck” about your “fuck”. 😂
3:55 Lol, lets rename ourselves so we don't sound as bad.
Landlord sounds feudal - well pal, if the cap fits...
Who cares what you call us, we're still rich!
Now pay up.
I prefer landbastads personally
@@ryangrange938I prefer that too. Landbastards it is 👍
I really wanted to be in London W14, standing on the other side of the street shouting "OH HOW FUCKING MAGNAMINOUS OF YOU! LOOK OUT ED, HE HAS TUNA!"
People should be allowed a 2nd property and pay minimum tax. But after that - the tax you should pay should make it not worthwhile doing, therefore landlords would not have portfolios of properties. Also banks should not be giving a 2nd mortgage for a 2nd property, you either have the money or you don’t.
Yes build lots more houses - but ensure they aren’t sold to landlords. Perhaps a law in the deeds that doesn’t allow (X percentage) of them to be rented out for maybe 10 years.
I would jave no problem with landlords if they were only renting out properties that they owned outright. How can they justify making money on something they do not own? Secondly amd this is beyond the level of control landlords have is the lack of legislative protections for renters. Spliting one house into 5 rooms for professionals and charging the same is criminal overcharging. The renter does not benefit from this. In fact, they suffer from reduced land space and overcrowding which impacts mental health in this country.
All the pressure groups like 1 charity
We should put people who willingly say they are going to let 15-50 properties in secure wards where they can’t hurt themselves or anyone else
😂😂😂 There must be a streak of madness in those people.
Or a coffin.
Landlords and estate agents are the worst of society.
The moment properties were monetised and were no longer considered homes like they used to be was when we knew we were on a slippery slope and it would all end in tears, it just needed time. Maybe add a footnote to landlords that when you go on your final journey, the good news is that you don't have to pack any bags. The system is designed so that only the few really benefit and even the landlords pay the price for their greed in the end.
The idea that they are "providing housing" is pretty shocking and shows just how out of touch they are. Unless they are building the houses, they already exist. Nothing extra is added
Of course nobody doesn’t talks about landlords not making money
Because landlords are making money
Yeah, some are, for sure. Plenty aren't though, which is why there's so many rentals on the market.
@@davidbrayshaw3529the last time I checked houses make money just by being an appreciating asset
So all landlords are making money
Yeah sure some are really dumb financially and can’t actually really afford to be landlords
So I’ll rephrase to, any landlord that has outright bought their property is making money, tenant or no tenant
The sooner we eat these people the better
Try going on to a landlord's forum to see people that have had there houses wrecked and couldn't keep up with mortgage payments, couldn't get the leech tenants out because an error with the paperwork, 9 months later the tenants are still there... There is good and bad landlords and tenants, let's hope there's only a minority for both.
@@goychdid you know if you get a bad tenant it could wipe out several years of profit? This is all taken into account when rents are set. If more house were being built prices wouldn't have appreciated this much, if immigration was lower, houses and rents wouldn't be as high, are you sure you are point your thinger in the right direction?
@@AlexSavage shut the fuck up dude, this has nothing to do with immigrants and everything to do with landlords being cunts
Fuck….off
Problem is mainly in England. Much stricter controls in Scotland especially regarding HMO's (very difficult to get agreement for them and they are a separate licence), Rent 2 Rent (which is effectively illegal in Scotland unless you have a written contract signed by the owner of the house/flat and the landlord and the sub tenant). Bottom line is the Gov has now seen landlords as an easy cash cow. They can only claim tax relief on the interest of their mortgage for 20% of the total amount of what they pay in tax, not what the mortgage is. Previously they could claim 100% of their total mortgage as tax relief. They now get no tax relief for redecorating AT ALL. They used to get a flat amount for wear and tear (20% of the cost of repairs or decoration was tax relief).
Slowly but surely the tide is turning on the smaller landlords who owns 1-4 properties in favour of the bigger corporate landlords who register as Limited Partners and use their pre-adult children's tax allowance as tax relief (they make them partners in the business and use their near £13k allowance as tax relief).
Want to stop the housing crisis it's easy - make it either illegal or incredibly tax punitive to own more than 1 home UNLESS that 2nd home has ZERO mortgage - BANG that'll be 90% of your landlord held stock back on the market within 2 months. Landlords buy a house for say £110k, put a £30k deposit down, do it up, get it revalued to about £120k then they refinance it to £120k getting their £30k deposit back and their £10k refurb money back and start the cycle again. Thus they "own" multiple properties (except they don't own them, because they have a BTL mortgage so aren't paying the mortgage off, they just rely on the price of the houses going up so they can refinance)
There’s a simple solution. Build more houses. Increase supply and prices will slowly start to fall and it becomes harder for landlords to price gouge tenants
10:02 lmao 20% margin is an excellent take in any other sector, let alone 30%!
These guys have it sweet.
A 10% margin is typical elsewhere, you're raking it in at 20% like it's VAT.
Tbf that's an unusually high yield overall.
She really said they are giving homes to people that cant afford to buy. Insane when the tenants actually pay the mortgage, taxes, upkeep and the landlords salary. So that is obviously not the reason they aren’t buying homes.
My last private rental.. Monthly £175 (old poor quality house with zero mortgage against it).. It was rough.. It was cheap.. All's good. WE were free to look after houses. It was part of the "deal".. Look after the wreck and I'll keep your rents rock bottom.. Landlord retires and hands it over to his son. In 3 years rent increased to £575 a month.. Money spent by landlord on upgrades?.. £000.00 .. Little scumbag mortgaged it to the hilt and then made me pay his bloody mortgage plus 40% His father was a lovely man who used to turn up from time to time just for a chat in his 15 year old car.. Son turned up ONCE with an estate agent.. driving his new £350,000 Ferrari.... of course while he was showing the "valuation agent" around one of his tenants did something to his rich boys penis substitute.. We laughed.. There used to be a community of us skint people living in his street of old (1879) terraced houses.. Not any more.. Nobody who was there then lives there now and every 6 months there is a "to let" sign in the front yards
Housing providers, the embodiment of empathy and social spirit.
"I'm a housing provider"
"Oh so you're in construction?"
"No, I'm a landlord"
"So you're not a housing provider..."
It's amazing how they will talk themselves into looking terrible over and over again.