Bastard Landlords Part II

[Gromit]

I am not a bank.
I don't loan money
I don't charge interest.
I don't do credit
My business is providing a roof, you pay for the roof, you get the roof

I should also add I am not a social service,
If I did not chuck out a family who did not pay their rent, guess who's family is going to be the next one on the streets ?

Fine I really hope that you don't sustain a serious injury rendering you unable to work as by your reckoning you should be throw out onto to the street.

 

[SteelUn]

Nice idea, but wrong, you're making an assumption about lack of thought without considering the context of the reply, in that it was merely highlighting that investment examples had been chosen to try and show 'landlording' in a better light. I'm not sure why you leap to the idea that I'm suggesting some sort of solo Dragons Den approach. Personally I think microfinance is the way to go in this respect and if you don't know what that is you can look it up. It doesn't have to be invested in startups only, that was just one of the alternates.

I also didn't suggest that there would be no rental properties, rather that property ownership would be limited to one title deed per person...not company....person. The State would have no such limitation and would need to buy up the excess property anyway. Nothing to stop a person owning a property, renting it out and renting accomodation for themselves from the State, or a couple/partnership doing the same. Think of it as some more QE from the State that frees up the housing market and forces capital into growth style, rather than rent seeking, investment. We'd still have right to buy in place, it would just stop individuals hoarding a scarce resource that is an essential for living. If they want to try and hoard in non-essentials then that's entirely up to them.

I am afraid I was right that you did not know, and it is you who need to look up the characteristics of sustainable, self funded microfinance. Asian Development Bank's assessment has put the average cost of interests at more than 30% to 70% p.a.

Have you considered the effects of the seemingly arbitrary (certainly in terms of quantum as well as destination) "QE" by the State printing more money to buy up "excess property"? What rent do you think the State should charge the tenants? At cost? Below cost? Above cost? What should be included and excluded in the cost calculation? Who are elgible to be tenants and who aren't? Are foreign nationals allowed? What effects do you think this would have on motivating people to stand on their own two feet, or to make their homes as nice and sound as possible?

Where are people allowed to put the capital they received from the properties? Are they allowed to invest the money abroad or do they have to keep it all in this country?

It is easy to make populist, upstanding-sounding statements, it is another thing to do the right thing for the economy and the country.

 

[MacB]

I am afraid I was right that you did not know, and it is you who need to look up the characteristics of sustainable, self funded microfinance. Asian Development Bank's assessment has put the average cost of interests at more than 30% to 70% p.a.

Have you considered the effects of the seemingly arbitrary (certainly in terms of quantum as well as destination) "QE" by the State printing more money to buy up "excess property"? What rent do you think the State should charge the tenants? At cost? Below cost? Above cost? What should be included and excluded in the cost calculation? Who are elgible to be tenants and who aren't? Are foreign nationals allowed? What effects do you think this would have on motivating people to stand on their own two feet, or to make their homes as nice and sound as possible?

Where are people allowed to put the capital they received from the properties? Are they allowed to invest the money abroad or do they have to keep it all in this country?

It is easy to make populist, upstanding-sounding statements, it is another thing to do the right thing for the economy and the country.

Oh man, fair enough, you win, I really can't be arsed wrangling with another Wikipedia/Google warrior, don't tell me, you sometimes read the FT headlines as well.

 

[Flying Dodo]

I am not a bank.
I don't loan money
I don't charge interest.
I don't do credit
My business is providing a roof, you pay for the roof, you get the roof

I should also add I am not a social service,
If I did not chuck out a family who did not pay their rent, guess who's family is going to be the next one on the streets ?

Just out of interest, how long would a family have to withhold rent for, before you'd evict them. Presumably you have to get a court order?

 

[al78]

Fine I really hope that you don't sustain a serious injury rendering you unable to work as by your reckoning you should be throw out onto to the street.

http://www.helpucove...ome-protection/

 

[Riverman]

A few issues
if you have lived in 14 properties over 10 years as a landlord I'd want to ask why.
It's exactly the same as if I was employing you for a job, if you have had 14 jobs over the last 10 years I would not be thinking of you as long term employee.

Evicting tenants is likewise a minefield, very difficult to do in practice and it's always ruinously expensive, its a last resort option, when you simply cut your losses before they get any worse. In 32 years I've done twice.

The 'No DSS' rule is very simple. If the government/local councils paid up, directly to the landlord, on time and the right amount, then hundreds of thousands of additional properties would be available. They don't, they never have and probably never will. Most Landlords try DSS tenants once and then promise never again. Hence the reason most Agents wont even let them in the door, as they have no property to let to them.
Local councils are now trying to offer landlords fixed five year tenancies at above market rates to any landlord prepared to deal with them, however once bitten twice shy, so they can offer all they want but there are few takers

I only deal with agencies to do the finding and the vetting. I do not find or vet tenants directly

Also I think as a society, landlords need to move away from having the mentality of treating their property like some sort of pension income to retire with.
By and large the property is exactly that, it's my pension plan.
Being a landlord is supposed to be a job, not some sort of trouble free sweetener when retirement comes.
Being a landlord is a job and it's far from trouble free, but it will be a sweetener when retirement comes
The emphasis should always be put on providing a home for someone not obtaining an extra income.
That, possibly, maybe, is the job of a socialist based government or local council.
The job of a private sector landlord, a company, a bank etc is to provide income

Is a home a fundamental right in a civilised society ?
And if it is. Then who provides it, Who pays for it ?

Hi Brains,

You've made a lot of assumptions there. Firstly, there are two reasons why I lived in so many properties over the last ten years. Firstly I used to be a student and it's quite normal for students to move around a lot. The second reason I had to move house a lot was because I was having such difficulty finding housing whilst I was unemployed and had to take very short tenancies on and live in really run down accommodation. The situation was actually a bit more complicated than that owing to some other factors at the time. For example there was one year where I lived in five different properties. And I'm such a bad tenant that I have lived in my current property for 3 years.

As for references from former landlords, not once in all my years of renting privately have I ever been asked to provide references to a landlord although I have never gone through an agency who I know can be very strict on this. I've found that landlords are really only interested in one thing, that you are in full time employment... i.e.- money and I find that quite sad. And it's not like I don't have a good employment history but they're not interested in that. If you're unemployed then few landlords want anything to do with you.

I hold the government responsible for this situation and to a certain extent I hold some irresponsible tenants who claim housing benefit who have given people like that a bad name. However I also blame the landlords. Given the position landlords have in society, they really have a responsibility to try and do something about this situation, to lobby the government to enable DSS tenants to secure tenancies. It's probably one of their lowest priorities sadly.

The DSS issue as far as landlords and agents are concerned is financial.
The DSS have a long history of being late payers (as anyone on benefits will confirm)

How do you know that? Going by the figures, there must be a lot of people claiming housing benefit in housing without the landlord being aware. It's funny how landlords don't seem to care whether their tenants are claiming HB once they've signed a tenancy, as long as the rent is being paid on time.

 

[benb]

The first rung of Maslow's hierarchy of need states that the first rung of the ladder for a persons sense of well being, the basic needs is to have food in their belly and a place to live in order for them to feel safe.

I always thought that "Maslow's hierarchy of needs" would be an awesome name for a band.

Carry on.

 

[Gromit]

What nonsense - you'd have a vacated property to sell for a starter!

+1 So true poor landlord.

 

[SteelUn]

What nonsense - you'd have a vacated property to sell for a starter!

Huh? If he did not chuck out the family who did not pay the rent how could he have a vacated property to sell?

 

[blockend]

The biggest difference between renting now and say, 40 years ago, is price. By and large rents were cheap and mortgages expensive and apart from the Rachman's of the world, if you paid your money you could expect to be in the house 20, 30, 40 years. Nowadays buying or renting is expensive.

Having been a tenant and a multiple landlord I've seen both sides and there are a-holes on each. Best tenants were a Polish couple who were sorry to leave and looked after the place scrupulously but had a council house to move to, worst were two lads who I allowed to get in arrears on rent and trashed the house for my trouble before leaving - which I'd totally re-fitted a year before they went in. Having cleaned up they returned and said they couldn't find anywhere better and would I take them back?
As a tenant there were the usual over-priced multiple occupancy sh*tholes which London seems to specialise in but the best was perhaps a beautiful c18th cottage with extensive gardens and run of the orchard, a place we stayed in six years. It was very reasonable but the downside was keeping on top of those extensive gardens because the gardener was only interested in plundering the fruit trees and veg garden while pretending to clip a hedge.

 

[subaqua]

that isn't quite right. I pop round and see my tenants with no intention other than to brighten their day - and they always brighten mine. I always say - 'if you've got a problem, give me a call or send me a text - and it doesn't matter what time of day or night it is'.

If, as a result of all this brightness, they decide to sign up for another year then I'll be ever so happy. I'll save the agent's fee for finding a new tenant (about £650, which is 'cheap'). And I'll save myself the worry of having someone in who I don't know.

adding to that, it also gets a happy neighbour which also means a lot less aggro for all

 

[theclaud]

Update. I got a friend to diagnose the problem with the machine, wrote a firm but not impolite email making it clear that I expected it to be repaired or replaced, and threw in an airy aside about deposit protection schemes, by way of putting things in writing. The change of tone now makes the better music, as they say in German:

I have bought a new machine and could deliver it on Wednesday early evening. Could do with a hand carrying it in and getting the old one out, are you in? Could do Friday eve otherwise. Will also try and do garden if it is dry.

 

[Aperitif]

'...and while I'm at it, I'll bring a few beers round and a couple of bottles of wine. PErhaps you could both join me at that lovely little curry house that everyone is raving about...'

You missed a bit

At least you'll be fragrant next ride - not soiled of cloth. Well done.

 

[Archie_tect]

Well done.
Here's hoping you have set the scene to develop a harmonious and mutually supportive relationship as a result TC... but mind your back helping to lift the new machine in!


Have you discovered a common interest in gardening?

 

[ttcycle]

Good stuff!