Yep, its that they know better attitude. My FIL is the same. My workplace pension is good. I pay 9% they pay 25%
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The anti pension thing is all a bit silly. People acting as if they have no choice but to speculate in bricks
My private pension has gone up 6% in the last year (after fees taken) and obviously is much less of a liability than buy to let and way more flexible and suited to being a pension.
So many people demand that their buy to let is a guaranteed investment and even if it was bought for 50k and is now worth 200k they'll bemoan if it goes down to 195k
The worst part with this man is that he didn't even have a buy to let.The anti pension thing is all a bit silly. People acting as if they have no choice but to speculate in bricks
My private pension has gone up 6% in the last year (after fees taken) and obviously is much less of a liability than buy to let and way more flexible and suited to being a pension.
So many people demand that their buy to let is a guaranteed investment and even if it was bought for 50k and is now worth 200k they'll bemoan if it goes down to 195k
They had a 150k mortgage 35 years ago and only ever paid interest only.
After 30 years they sold the house, repaid the bank the 150k and bought a bungalow on the coast that cost half what the house did.
Very risky IMO
This is interesting. We are landlords and rent through an agent who do regular inspections , every three months as part of their contracts. We had tenants who are careless, filthy to be honest and basically didn’t know how to keep a hosue. When they moved out we had to spent hundreds cleaning g their mess things that were not picked up during inspections be sure it was things like inside thr oven, behind the sofas, skirting boards, they also managed to damage two washing machines in two years. If we didn’t have inspections I’m sure it would have been Much worse . Isn’t it reasonable to have the property checked to keep it in a decent state? I rented when I was younger and had no issue with a quick walk through Check, it’s not invasive and is arranged discreetly ?
Usually, you start off with quarterly inspections but over time they can go longer. We had 1 inspection a year in our last place as we were there for over 5 years. Our new house, no inspections as the landlord wants to work on trust (
very risky! But hes had 1 very long term tenant before us).
Tenants dont have to agree though, they have the right to refuse entry and visits. Its extreme, but it happens.
very risky! But hes had 1 very long term tenant before us).Tenants dont have to agree though, they have the right to refuse entry and visits. Its extreme, but it happens.
But if it was hundreds wouldn't the deposit cover it?
Hundreds sounds about what landlords should plan to spend between tenancies and sorting the oven and behind the sofa I'd guess isn't uncommon with how some renter's don't look after a place.
If they damaged the washing machine again that should easily be covered by the deposit and if it broke when not that old then the guarantee should cover it id of thought?
Not saying this is you, but I do know landlords that complain endlessly about ever paying a penny to maintain the property which seems very illogical. Like bemoaning the management charge off a pension.
My last landlord was like that. I had to negotiate every year with each rent increase to have something updated or replaced. All whilst the rising damp was destroying the house and the walls were barely held up with lining paper. He just doesnt care about the house, but is happy to take the money.
It’s not just tenants that ruin houses. The worst condition house I’ve seen is privately owned. It’s filthy no family members will visit them as it smells is mouldy and messy.
the mum has offered to help tidy and clean and even paid for a new kitchen which a couple do years later is a filthy disgusting mess.
thsi is a ‘young’ working couple with two young children (5 & 7) no reason for the house to be like it is they are just lazy.
so because they pay a mortgage they can leave the house to rack and ruin but someone renting would be checked up on.
I have a house up north that we own. We rented it out when we lived down south for work intending to go back but it’s been more than 20 years now.
we rented down south for years and inky finally brought a house a couple of years ago after admitting that’s it’s unlikely now the children are adults and settles here that we will be moving back.
We looked at selling the house up north as the mortgage will be paid at the end of the year and when we spoke to the family that we rent to they have begged us not to as they can’t afford to buy the property and would struggle to find a new key as the town is a popular student and tourist town so lots of second properties student houses abs air b n b’s
I worry about my children being able to afford houses. My eldest has managed to buy during lockdown. He saved moneyto Go to uni decided not to go and sk used it for a large deposit. He only managed to get a 2 Bed 89’s built house and he earns good money. Over £60k but he wa a buying on his own and so the amount he could borrow was limited.
may 19yr old is at uni on an apprenticeship and when qualified he’ll go into earning around £40k but here (south east) he’ll not be able to get a mortgage for a house/flat around here. He’s in about moving further south for his job abs so he can buy.
I also have a 15yr old. As horrible as it sounds I think she’ll end up working in a low paid job. She has no idea what she wants to do. So maybe retail or a basic office admin role earning what £18k a year. Will she even be able to afford to rent somewhere around here on that? A studio or one bed flat are around £700 a month to rent here.
the mum has offered to help tidy and clean and even paid for a new kitchen which a couple do years later is a filthy disgusting mess.
thsi is a ‘young’ working couple with two young children (5 & 7) no reason for the house to be like it is they are just lazy.
so because they pay a mortgage they can leave the house to rack and ruin but someone renting would be checked up on.
I have a house up north that we own. We rented it out when we lived down south for work intending to go back but it’s been more than 20 years now.
we rented down south for years and inky finally brought a house a couple of years ago after admitting that’s it’s unlikely now the children are adults and settles here that we will be moving back.
We looked at selling the house up north as the mortgage will be paid at the end of the year and when we spoke to the family that we rent to they have begged us not to as they can’t afford to buy the property and would struggle to find a new key as the town is a popular student and tourist town so lots of second properties student houses abs air b n b’s
I worry about my children being able to afford houses. My eldest has managed to buy during lockdown. He saved moneyto Go to uni decided not to go and sk used it for a large deposit. He only managed to get a 2 Bed 89’s built house and he earns good money. Over £60k but he wa a buying on his own and so the amount he could borrow was limited.
may 19yr old is at uni on an apprenticeship and when qualified he’ll go into earning around £40k but here (south east) he’ll not be able to get a mortgage for a house/flat around here. He’s in about moving further south for his job abs so he can buy.
I also have a 15yr old. As horrible as it sounds I think she’ll end up working in a low paid job. She has no idea what she wants to do. So maybe retail or a basic office admin role earning what £18k a year. Will she even be able to afford to rent somewhere around here on that? A studio or one bed flat are around £700 a month to rent here.
Sounds like my previous landlord... he said that he would increase my rent so I asked what was going to be updated and he said nothing. He needed to increase to "keep up with the rentals around us". But the rentals around the neighbourhood were brand new luxury apartments owned by massive corporation. Greed really is a sickness.
I don't mind the pre announced visits announced well in advance as I know they do them every year. I would actually try to be out when they came over to check as it made me more anxious. I hate the random checks (door frame inspection the last time ) and created a fuss over those even if they had the tradesman right there with them too.
No we had to spend jusy short of £1000 on professional cleaning , minor repairs & trades and the deposit wasn’t even half of that, about £350 . Plus it takes a whole to get it back .we also had to fully replace flooring as they didn’t report damage to laminate and it has swollen and cracked due to a spillage . It was damage and dirt that cousl have been avoided not wear and tear. They were also fairly anti social so the neighbours reported which I was embarrass about but we only got those reports when they left . It’s not all coin
Luckily we have long term tenants now who are looking after the place well.
In terms of the topic overall , house prices, all I can say is surley the bubble has to burst soon. Anyone old enough to remember the northern rock crash will remember that came down like a tonne of bricks . What I don’t get is where peopel are getting the money from to throw at offers over (Scotland anyway) ?
Eta the washing machines x 2 was
we done the opposite kept it lower to
Make to more realistic and it also helps with longer tenancy.
They have no right to enter without your permission and without 24hrs notice.
I don’t want to be rude but surely this is just the risk you have to take, being a landlord?
You can’t micromanage your property when it’s someone’s home. Good landlords should factor in the costs of wear and tear, repairs and end of tenancy professional cleaning into their maintenance expenses, surely?
Also, I thought landlords were allowed to charge up to 5x weeks of rent as a security deposit. Yours sounds very low, although I don’t know where your property is nor the condition it is in. The national average deposit is about £900.
A months rent value was the standard here . The rent was purposefully low not reflective of the state of property, it’s a decent flat and well maintained , just to make it more realistic and longer term tenant . Anyway my point it is respect. Not eveyone knows how to or chooses to treat home rentals with respect, so for thst reason the inspections are needed, in my view and experience. I get they can be invasive so they need to be within the terms of the lease & done at a realistic abs discreet levels. There’s also the safety aspect, make sure fire alarms , gas etc not blocked . I will never excuse the state it was left on that occasion as wear and tear or a landlords downside, irrespective of how much it cost to put right, it was disgusting. It’s one example of bad tenants though, we have had mainly decent people who treat it like their own. It was to make the point that inspections have their place . I agree also with the above it’s not just rentals some
Owners will be the same of course , or even down to if you rent a holiday place . I guess it’s just galling when someone treats your place like c*** when you are trying to keep it in a good condition yourself longer term.
Anyways house prices are still shocking and I still
Hope they come crashing down to reality!
I think if you rent out a property/s you have to take any emotional attachment away from it and treat it as a business. I’ve seen people rent out a house they love then take it personally if it gets damaged. Yes it’s really tit of tenants but unfortunately not everyone is lovely.
Over the years I’ve had some proper crappy landlords that ranged from just turning up and sitting reading a newspaper in the kitchen whenever they were in the area and just walking into bedrooms, to ones who flat out lie to keep the deposit. (Saying we’d left a sofa and they had to pay to clear it which had been in the furnished flat when we moved in etc) Luckily it was done properly through the deposit scheme so I managed to dispute it most of the time.
Once you give in your notice agents seem to completely forget that they are meant to give notice for viewings too and just turn up whenever they please.
Amateur landlords that buy to let creates is another plague on society. So many are attached to what was their old home and believe it's perfectly acceptable to just rock up unannounced and let themselves in to check things because it's their house not the renter scums. They think of the renter as little more than a child to barge in on.
Exactly. It may well be a business to the landlord, but it’s someone’s HOME.
It’s incomparable to the vast majority of services that amateur landlords love to compare it to, to legitimise their cost-cutting and exploitation. A home is so personal and so important to the tenant. There must be boundaries and I think tenants should have more power, to be honest.
It’s incomparable to the vast majority of services that amateur landlords love to compare it to, to legitimise their cost-cutting and exploitation. A home is so personal and so important to the tenant. There must be boundaries and I think tenants should have more power, to be honest.
There should be fines for landlords.
Over 24 hours in the winter with a broken boiler then a week's rent for every 24 hour period after that until it's fixed.
Turn up unannounced and enter the property illegally? A month's rent as a fine.
At the moment they get away with way too much
They call it a business so why shouldn't they be held to some professional standards?
Over 24 hours in the winter with a broken boiler then a week's rent for every 24 hour period after that until it's fixed.
Turn up unannounced and enter the property illegally? A month's rent as a fine.
At the moment they get away with way too much
They call it a business so why shouldn't they be held to some professional standards?
Related to this, I far prefer renting a property managed by a property manager/letting agent. It makes for a much better experience for me as a renter and I imagine also saves the landlord a whole lot of hassle.
The properties I've rented from a property managers have typically been of lower quality but require less hassle.
The properties I've rented let-only from the landlords are of better quality but come with the additional stress of dealing with the landlords directly, which is very annoying and causes problems because their personal life and feelings get included with a professional matter.
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