So are Landlords finished?
Discussion
BoRED S2upid said:
Profiteering from people with less wealth than you?
Seriously? You do know some people prefer to rent don’t you? They are not all penniless and being taken advantage of.
My daughter is a case in point. Earns a decent (for the North West) salary, in an occupation that requires brains and hard work, in the NHS. Likes living in a flat in a nice bit of a big city, but wouldn't want the uncertainty of a leasehold with unknown management fees. Could afford to buy a small house in a less nice area, on her own. Will doubtless buy a house in the Didsbury, with her boyfriend, one day. But is about to take a year off to go travelling with him instead. She couldn't do that if she had a mortgage to pay. Seriously? You do know some people prefer to rent don’t you? They are not all penniless and being taken advantage of.
Biggy Stardust said:
NRS said:
It’s so bad that many of these landlords have decided to buy 5-10 houses, that’s how bad things are!
Many are selling up & getting out- how does that fit your rant?NRS said:
Biggy Stardust said:
NRS said:
It’s so bad that many of these landlords have decided to buy 5-10 houses, that’s how bad things are!
Many are selling up & getting out- how does that fit your rant?NRS said:
But if you looks at many of the posts even in the good times during the last few decades it’s been incredibly difficult to make money due to bad tenants and the like…
Sorry but once you've admitted to telling porkies it's hard to care about anything else you say. Toodles from me. 
Biggy Stardust said:
NRS said:
Biggy Stardust said:
NRS said:
It’s so bad that many of these landlords have decided to buy 5-10 houses, that’s how bad things are!
Many are selling up & getting out- how does that fit your rant?NRS said:
But if you looks at many of the posts even in the good times during the last few decades it’s been incredibly difficult to make money due to bad tenants and the like…
Sorry but once you've admitted to telling porkies it's hard to care about anything else you say. Toodles from me. https://x.com/topgunners14/status/1784837266508009...
For anyone that doesn’t believe money is important let’s crunch some numbers…
This is the CHEAPEST 2 bed house on rightmove within 10 miles of Manchester.
So let’s do this for a new family:
- Rent £750
- Council tax £115
- Gas/electric £200
- Water £30
- Food £500
- Internet £20
- Phone bills £30 (Airtime only, not including the phone itself)
- Car £150
- Car insurance £100 (for 2 drivers being extremely generous)
- Car maintenance £50 (£600 per year)
- Fuel £50 absolute minimum
Ok so just to survive in a house which isn’t great located in an area which also isn’t great costs £1,995 per month.
Now you have the cost of baby clothes, toilet roll, washing up liquid, shampoo, nappies, haircuts and all the other general stuff on top of that which I would also consider as survival items in a first world country.
Let’s say all of this if you’re lucky comes to £300.
Now you’re on £2,295 and you haven’t even done as much as treated yourself to a KFC.
In order to earn £2,295 per month you’re salary has to be 35-40k.
So you’re living a low quality of life, just getting by and earning 35-40k per year.
Now let’s add a holiday.
You want to go away for 1 week? Oh that’s at least £100 per month in savings.
Now let’s add unexpected expenses.
Your car gets broken into, that window is going to cost at least £200 to replace but you’re living pay cheque to pay cheque, where’s the money coming from?
Not insurance because you have to pay excess.
It’s coming from rainy day savings which should be at least £200 per month.
Now we’re up to £2,595.
But what’s that I hear, you want some new clothes for yourself, £50 per month extra.
Oh and ermm yeah I can’t go without my coffee, £2 per day, £60 per month.
Also I almost forgot to mention, I have these things called hobbies, I like to play video games, watch Netflix, go to the pub every now and then you know, just live a normal life.
Oh right so that’s another £200 per month then.
New total £2,910 for one holiday and a low quality lifestyle to feed 2 adults and a baby.
Now you’re earning around £45k per year and still don’t really have any savings other than rainy day savings which will be used as that’s just life, s
t goes wrong.
But I forgot to mention the 2nd car or work commute expenses, we’ll say you take the bus at £100 per month.
The expenditure just keeps on rising.
So if you don’t think money is important then be my guest, start a family, watch what happens🙂
Oh and by the way, once you hit a 50k salary you need to earn an extra 25k per year in order to get an extra 1k per month.
For anyone that doesn’t believe money is important let’s crunch some numbers…
This is the CHEAPEST 2 bed house on rightmove within 10 miles of Manchester.
So let’s do this for a new family:
- Rent £750
- Council tax £115
- Gas/electric £200
- Water £30
- Food £500
- Internet £20
- Phone bills £30 (Airtime only, not including the phone itself)
- Car £150
- Car insurance £100 (for 2 drivers being extremely generous)
- Car maintenance £50 (£600 per year)
- Fuel £50 absolute minimum
Ok so just to survive in a house which isn’t great located in an area which also isn’t great costs £1,995 per month.
Now you have the cost of baby clothes, toilet roll, washing up liquid, shampoo, nappies, haircuts and all the other general stuff on top of that which I would also consider as survival items in a first world country.
Let’s say all of this if you’re lucky comes to £300.
Now you’re on £2,295 and you haven’t even done as much as treated yourself to a KFC.
In order to earn £2,295 per month you’re salary has to be 35-40k.
So you’re living a low quality of life, just getting by and earning 35-40k per year.
Now let’s add a holiday.
You want to go away for 1 week? Oh that’s at least £100 per month in savings.
Now let’s add unexpected expenses.
Your car gets broken into, that window is going to cost at least £200 to replace but you’re living pay cheque to pay cheque, where’s the money coming from?
Not insurance because you have to pay excess.
It’s coming from rainy day savings which should be at least £200 per month.
Now we’re up to £2,595.
But what’s that I hear, you want some new clothes for yourself, £50 per month extra.
Oh and ermm yeah I can’t go without my coffee, £2 per day, £60 per month.
Also I almost forgot to mention, I have these things called hobbies, I like to play video games, watch Netflix, go to the pub every now and then you know, just live a normal life.
Oh right so that’s another £200 per month then.
New total £2,910 for one holiday and a low quality lifestyle to feed 2 adults and a baby.
Now you’re earning around £45k per year and still don’t really have any savings other than rainy day savings which will be used as that’s just life, s
t goes wrong.But I forgot to mention the 2nd car or work commute expenses, we’ll say you take the bus at £100 per month.
The expenditure just keeps on rising.
So if you don’t think money is important then be my guest, start a family, watch what happens🙂
Oh and by the way, once you hit a 50k salary you need to earn an extra 25k per year in order to get an extra 1k per month.
Biggy Stardust said:
NRS said:
Biggy Stardust said:
NRS said:
It’s so bad that many of these landlords have decided to buy 5-10 houses, that’s how bad things are!
Many are selling up & getting out- how does that fit your rant?NRS said:
But if you looks at many of the posts even in the good times during the last few decades it’s been incredibly difficult to make money due to bad tenants and the like…
Sorry but once you've admitted to telling porkies it's hard to care about anything else you say. Toodles from me. Downward said:
https://x.com/topgunners14/status/1784837266508009...
For anyone that doesn’t believe money is important let’s crunch some numbers…
This is the CHEAPEST 2 bed house on rightmove within 10 miles of Manchester.
There are cheaper For anyone that doesn’t believe money is important let’s crunch some numbers…
This is the CHEAPEST 2 bed house on rightmove within 10 miles of Manchester.
£433
https://www.rightmove.co.uk/properties/86697000
£590
https://www.rightmove.co.uk/properties/147254975
£595
https://www.rightmove.co.uk/properties/86697000
£595
https://www.zoopla.co.uk/to-rent/details/39273423/
There’s about 30 on Rightmove under £750
Quite interesting thread.
I've owned BTL, so I have some sympathy with landlords. But I've sold the 'portfolio'. I now rent cars instead.
No-one has ever said to me that I am exploiting the need for cars.
No-one has ever accused me of bumping up the prices of first time buy cars.
Or using my financial muscle (lol) to push up the prices of cars.
No-one is bothered if I terminate a rental contract, and repossess the car. And I'm not legally obliged to give many months notice, and apply to the courts for possession.
Most people seem to think I'm offering a service.
My business is not subject to intense Government scrutiny. I can rent out shabby cars, or lovely cars as the business demands. Admittedly they all have to comply with minimum safety standards, but nothing much more from a legal perspective.
I don't think many on here will be particularly bothered that I rent cars, and I've never ever been called a scummy car renter.
I wonder what makes houses different?
And I think it's most people can buy a car, and there is plenty of car supply about.
If the same were true of houses, maybe no-one would bother landlords either.
And maybe that's the nub of the issue.
I've owned BTL, so I have some sympathy with landlords. But I've sold the 'portfolio'. I now rent cars instead.
No-one has ever said to me that I am exploiting the need for cars.
No-one has ever accused me of bumping up the prices of first time buy cars.
Or using my financial muscle (lol) to push up the prices of cars.
No-one is bothered if I terminate a rental contract, and repossess the car. And I'm not legally obliged to give many months notice, and apply to the courts for possession.
Most people seem to think I'm offering a service.
My business is not subject to intense Government scrutiny. I can rent out shabby cars, or lovely cars as the business demands. Admittedly they all have to comply with minimum safety standards, but nothing much more from a legal perspective.
I don't think many on here will be particularly bothered that I rent cars, and I've never ever been called a scummy car renter.
I wonder what makes houses different?
And I think it's most people can buy a car, and there is plenty of car supply about.
If the same were true of houses, maybe no-one would bother landlords either.
And maybe that's the nub of the issue.
Completed the sale of one of mine today-
The money will go into something much more liquid with less aggravation, fewer rules & regulations & no baying mob screaming for my head on a platter.
The local council will be unable to charge me for a licence whose sole furpose is to fund inspectors to harass me regardless of the actual law.
The government will receive no more tax revenue on the rent.
The local plumber & electrician will lose the revenue from mandated gas & electrical safety checks.
Well done the government!
The money will go into something much more liquid with less aggravation, fewer rules & regulations & no baying mob screaming for my head on a platter.
The local council will be unable to charge me for a licence whose sole furpose is to fund inspectors to harass me regardless of the actual law.
The government will receive no more tax revenue on the rent.
The local plumber & electrician will lose the revenue from mandated gas & electrical safety checks.
Well done the government!
Biggy Stardust said:
Completed the sale of one of mine today-
The money will go into something much more liquid with less aggravation, fewer rules & regulations & no baying mob screaming for my head on a platter.
The local council will be unable to charge me for a licence whose sole furpose is to fund inspectors to harass me regardless of the actual law.
The government will receive no more tax revenue on the rent.
The local plumber & electrician will lose the revenue from mandated gas & electrical safety checks.
Well done the government!
Hopefully a nice chunk of CGT on your disposal though?The money will go into something much more liquid with less aggravation, fewer rules & regulations & no baying mob screaming for my head on a platter.
The local council will be unable to charge me for a licence whose sole furpose is to fund inspectors to harass me regardless of the actual law.
The government will receive no more tax revenue on the rent.
The local plumber & electrician will lose the revenue from mandated gas & electrical safety checks.
Well done the government!
markh1973 said:
Hopefully a nice chunk of CGT on your disposal though?
Sadly yes- CGT is basically a tax on inflation since the bds removed index linking & steadily reduced the CGT allowance. Over time they own a steadily increasing percentage of every rental property despite doing nothing helpful.My CGT on this could fund a large African village for a year, an entire chavscum on the dole or half a public sector 'worker'.
Biggy Stardust said:
Sadly yes- CGT is basically a tax on inflation since the bds removed index linking & steadily reduced the CGT allowance. Over time they own a steadily increasing percentage of every rental property despite doing nothing helpful.
My CGT on this could fund a large African village for a year, an entire chavscum on the dole or half a public sector 'worker'.
Don't worry, you're going to double that cash in 5 years. And then double that again in another 5ds removed index linking & steadily reduced the CGT allowance. Over time they own a steadily increasing percentage of every rental property despite doing nothing helpful.My CGT on this could fund a large African village for a year, an entire chavscum on the dole or half a public sector 'worker'.
Biggy Stardust said:
markh1973 said:
Hopefully a nice chunk of CGT on your disposal though?
Sadly yes- CGT is basically a tax on inflation since the bds removed index linking & steadily reduced the CGT allowance. Over time they own a steadily increasing percentage of every rental property despite doing nothing helpful.My CGT on this could fund a large African village for a year, an entire chavscum on the dole or half a public sector 'worker'.
I'm sure you're in favour of simplicity in tax calculations - the change made things simpler.
As for the second paragraph .....
markh1973 said:
Yes they removed indexation but at the same time they rebased your assets and reduced the relevant tax rate.
I'm sure you're in favour of simplicity in tax calculations - the change made things simpler.
The cynic in me doubts that the consequence was me paying less tax.I'm sure you're in favour of simplicity in tax calculations - the change made things simpler.
markh1973 said:
As for the second paragraph .....
It's like the media giving dimensions in terms of elephants or football fields- a simple guide to measurements. bhstewie said:
I enjoyed reading that, engaging and well written. Thanks for posting.hstewie said:Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff