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The house letting industry is out of control, Pt. 1352314... 13:13 - Dec 13 with 24363 viewsmonytowbray

https://www.theguardian.com/business/2018/dec/12/landlord-fined-25000-over-lack-


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The house letting industry is out of control, Pt. 1352314... on 05:30 - Dec 14 with 4160 viewsBenters2

The house letting industry is out of control, Pt. 1352314... on 17:50 - Dec 13 by Sarge

Should be illegal to have a property ‘portfolio’
Make your living with some actual work, not by fleecing money out of hardworking people who need somewhere to live.


Touch of the green eyed monster heh ?

They must have started somewhere in the first place,people in life take risks and this couple have done very nicely out of it.

[Post edited 14 Dec 2018 5:31]
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The house letting industry is out of control, Pt. 1352314... on 07:22 - Dec 14 with 4128 viewstractorboy7777

The house letting industry is out of control, Pt. 1352314... on 04:57 - Dec 14 by Ryorry

"Should be illegal to have a property ‘portfolio’"
More than say 3, I'd agree with you.

The problem is that scumbags like that couple give all the rest a bad name. There are plenty of other rogue ones out there too unfortunately, but the majority are actually decent & provide a good service (not everyone is in a position to buy, or even wants to). And speaking as someone with a portfolio of 1, the annexe to my house, it's time-consuming & bloody hard work being a good one, esp when it comes to dealing with a rogue tenant!
[Post edited 14 Dec 2018 4:58]


As Clapham has mentioned, your situation is different from others where some criteria would mean that you could fall under Rent-A-Room relief.

Those that the issue lie with is where they’ve either bought or inherited separate property.
I appreciate that this link is a couple of years old now and some of the forecasts will have been affected by the change in Morgtage Interest restrictions.

https://homelet.co.uk/letting-agents/news/article/how-many-landlords-and-tenants

But the stats speak for themselves. Yes, a landlord could be a good landlord but they still charge rents that restrict the tennants from building deposits for their own potential property. What will happen to the younger generation when they don’t own property and state pension disappears.

And I personally find it disgusting that people see housing (every person has a right to live in a property) as an ‘investment’! Building new homes doesn’t appear to be helping the younger generation either as the prices of these properties are extortionate.

Landlords as I’ve said should be taxed higher, however they should also have to allow their Tennant to have the option to buy their property (at market value) if they wish to do so. I appreciate some people prefer renting and that’s fair enough.
[Post edited 14 Dec 2018 7:24]

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The house letting industry is out of control, Pt. 1352314... on 08:00 - Dec 14 with 4094 viewsBenters2

The house letting industry is out of control, Pt. 1352314... on 07:22 - Dec 14 by tractorboy7777

As Clapham has mentioned, your situation is different from others where some criteria would mean that you could fall under Rent-A-Room relief.

Those that the issue lie with is where they’ve either bought or inherited separate property.
I appreciate that this link is a couple of years old now and some of the forecasts will have been affected by the change in Morgtage Interest restrictions.

https://homelet.co.uk/letting-agents/news/article/how-many-landlords-and-tenants

But the stats speak for themselves. Yes, a landlord could be a good landlord but they still charge rents that restrict the tennants from building deposits for their own potential property. What will happen to the younger generation when they don’t own property and state pension disappears.

And I personally find it disgusting that people see housing (every person has a right to live in a property) as an ‘investment’! Building new homes doesn’t appear to be helping the younger generation either as the prices of these properties are extortionate.

Landlords as I’ve said should be taxed higher, however they should also have to allow their Tennant to have the option to buy their property (at market value) if they wish to do so. I appreciate some people prefer renting and that’s fair enough.
[Post edited 14 Dec 2018 7:24]


Sadly that last part will never happen.

You seem to forget that the people who rent the houses out worked hard to get the money to buy the house in the first place,why should they then give the tennant the chance to buy it,at a cheaper price?

Sadly today the yoof expect to sponge off the bank of mum and dad forever!
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The house letting industry is out of control, Pt. 1352314... on 08:08 - Dec 14 with 4089 viewstractorboy7777

The house letting industry is out of control, Pt. 1352314... on 08:00 - Dec 14 by Benters2

Sadly that last part will never happen.

You seem to forget that the people who rent the houses out worked hard to get the money to buy the house in the first place,why should they then give the tennant the chance to buy it,at a cheaper price?

Sadly today the yoof expect to sponge off the bank of mum and dad forever!


Where did I say sell at a cheaper price?
A lot of the one rental property owners are those who have inherited property and then rent them out.

And as a ‘yoof’ at 22 who has worked since 16, spent the years saving, not drinking or smoking, only going to football, the prospect of owning property still disappears. And someone who can’t sponge off mum and dad...

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The house letting industry is out of control, Pt. 1352314... on 08:12 - Dec 14 with 4066 viewsHerbivore

The house letting industry is out of control, Pt. 1352314... on 08:08 - Dec 14 by tractorboy7777

Where did I say sell at a cheaper price?
A lot of the one rental property owners are those who have inherited property and then rent them out.

And as a ‘yoof’ at 22 who has worked since 16, spent the years saving, not drinking or smoking, only going to football, the prospect of owning property still disappears. And someone who can’t sponge off mum and dad...


You won't penetrate the Benters bubble sadly, despite raising some very valid points.

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The house letting industry is out of control, Pt. 1352314... on 08:47 - Dec 14 with 4010 viewsBenters2

The house letting industry is out of control, Pt. 1352314... on 08:08 - Dec 14 by tractorboy7777

Where did I say sell at a cheaper price?
A lot of the one rental property owners are those who have inherited property and then rent them out.

And as a ‘yoof’ at 22 who has worked since 16, spent the years saving, not drinking or smoking, only going to football, the prospect of owning property still disappears. And someone who can’t sponge off mum and dad...


By 20 I had my first brand new Toyota Hilux £10k it cost me.

That was through hard work like your good self by the sound of it.
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The house letting industry is out of control, Pt. 1352314... on 08:54 - Dec 14 with 4001 viewsuefacup81

The house letting industry is out of control, Pt. 1352314... on 05:30 - Dec 14 by Benters2

Touch of the green eyed monster heh ?

They must have started somewhere in the first place,people in life take risks and this couple have done very nicely out of it.

[Post edited 14 Dec 2018 5:31]


No. A touch of basic human decency.

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The house letting industry is out of control, Pt. 1352314... on 08:56 - Dec 14 with 3998 viewsmonytowbray

The house letting industry is out of control, Pt. 1352314... on 08:47 - Dec 14 by Benters2

By 20 I had my first brand new Toyota Hilux £10k it cost me.

That was through hard work like your good self by the sound of it.


Having money and working hard is not a put in:get out ratio.

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The house letting industry is out of control, Pt. 1352314... on 08:58 - Dec 14 with 3995 viewsuefacup81

The house letting industry is out of control, Pt. 1352314... on 08:56 - Dec 14 by monytowbray

Having money and working hard is not a put in:get out ratio.


Precisely.

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The house letting industry is out of control, Pt. 1352314... on 09:05 - Dec 14 with 3989 viewsGlasgowBlue

The house letting industry is out of control, Pt. 1352314... on 08:58 - Dec 14 by uefacup81

Precisely.

Further reading: The British Royal Family, 886-2018


The Queen is the hardest working 92 year old woman in the country.

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The house letting industry is out of control, Pt. 1352314... on 09:05 - Dec 14 with 3978 viewsHerbivore

The house letting industry is out of control, Pt. 1352314... on 08:47 - Dec 14 by Benters2

By 20 I had my first brand new Toyota Hilux £10k it cost me.

That was through hard work like your good self by the sound of it.


Were you living at home off the bank of mum and dad? Because if you weren't all that shows it that things were much easier for young people back in the 50s.

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The house letting industry is out of control, Pt. 1352314... on 09:12 - Dec 14 with 3977 viewsmonytowbray

The house letting industry is out of control, Pt. 1352314... on 09:05 - Dec 14 by Herbivore

Were you living at home off the bank of mum and dad? Because if you weren't all that shows it that things were much easier for young people back in the 50s.


I believe Bloo used to talk about how young people moved out of Mummy & Daddy's after saving for a house once married. Sponging off Mum & Dad at its finest.

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The house letting industry is out of control, Pt. 1352314... on 09:12 - Dec 14 with 3963 viewschicoazul

The house letting industry is out of control, Pt. 1352314... on 17:50 - Dec 13 by Sarge

Should be illegal to have a property ‘portfolio’
Make your living with some actual work, not by fleecing money out of hardworking people who need somewhere to live.


I sort of agree with this. and certainly in this case. But then again, one of the very few ways for an ordinary Joe to make a bit of money on the side without paying out a big wodge of commission to some bstard in the City is to invest in housing.

Coming back to the OP the idea that any one person can control so much of a limited-stock market is pretty gross regardless of what we may think of them as individuals. Privately held commercial monopolies don't really work well for anyone apart from the tiny numbers of people in the Rentier class.

But then *again* again, people should be able to do what they want with their money and who is any of us to say "you have enough"?

In the spirit of reconciliation and happiness at the end of the Banter Era (RIP) and as a result of promotion I have cleared out my ignore list. Look forwards to reading your posts!
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The house letting industry is out of control, Pt. 1352314... on 09:13 - Dec 14 with 3976 viewsBenters2

The house letting industry is out of control, Pt. 1352314... on 09:05 - Dec 14 by Herbivore

Were you living at home off the bank of mum and dad? Because if you weren't all that shows it that things were much easier for young people back in the 50s.


I was at the time but I gave them £100 a week keep.
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The house letting industry is out of control, Pt. 1352314... on 09:15 - Dec 14 with 3971 viewsmonytowbray

The house letting industry is out of control, Pt. 1352314... on 09:05 - Dec 14 by GlasgowBlue

The Queen is the hardest working 92 year old woman in the country.


If I get to spend a lifetime travelling the world in luxury, eating the finest foods and coming home to a big house full of luxuries most people won't even lay eyes on as long as they live I'd be happy to wave to the odd crowd, cut the odd ribbon and make some half-baked good will speech once a year.

How do I apply? Wait, I can't because you have to be born into such privilege.

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The house letting industry is out of control, Pt. 1352314... on 09:15 - Dec 14 with 3958 viewschicoazul

The house letting industry is out of control, Pt. 1352314... on 08:00 - Dec 14 by Benters2

Sadly that last part will never happen.

You seem to forget that the people who rent the houses out worked hard to get the money to buy the house in the first place,why should they then give the tennant the chance to buy it,at a cheaper price?

Sadly today the yoof expect to sponge off the bank of mum and dad forever!


"The yoof" don't have a lot of choice though luv. Have you seen house prices, and wages? I can't say I blame young people for not settling down, it seems almost impossible for them to do the most basic things these days like buy a home, get marries, start a family.
And there is nothing wrong with providing for one's offspring if that's what they need, and one has the means to do so.

In the spirit of reconciliation and happiness at the end of the Banter Era (RIP) and as a result of promotion I have cleared out my ignore list. Look forwards to reading your posts!
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The house letting industry is out of control, Pt. 1352314... on 09:16 - Dec 14 with 3958 viewsHerbivore

The house letting industry is out of control, Pt. 1352314... on 09:13 - Dec 14 by Benters2

I was at the time but I gave them £100 a week keep.


So when you talk about youngsters today living off the bank of mum and dad maybe you should pipe down a bit? I'd moved out by 20.

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The house letting industry is out of control, Pt. 1352314... on 09:18 - Dec 14 with 3952 viewsHerbivore

The house letting industry is out of control, Pt. 1352314... on 09:12 - Dec 14 by chicoazul

I sort of agree with this. and certainly in this case. But then again, one of the very few ways for an ordinary Joe to make a bit of money on the side without paying out a big wodge of commission to some bstard in the City is to invest in housing.

Coming back to the OP the idea that any one person can control so much of a limited-stock market is pretty gross regardless of what we may think of them as individuals. Privately held commercial monopolies don't really work well for anyone apart from the tiny numbers of people in the Rentier class.

But then *again* again, people should be able to do what they want with their money and who is any of us to say "you have enough"?


People should be able to do what they want with their money, other than spend it on recreational drugs you mean.

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The house letting industry is out of control, Pt. 1352314... on 09:19 - Dec 14 with 3956 viewsBenters2

The house letting industry is out of control, Pt. 1352314... on 09:16 - Dec 14 by Herbivore

So when you talk about youngsters today living off the bank of mum and dad maybe you should pipe down a bit? I'd moved out by 20.


Giving them a day a week wages is hardly sponging is it ?

Good for you moving out at 20 did you move the bunk bed with your Hilux ?
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The house letting industry is out of control, Pt. 1352314... on 09:20 - Dec 14 with 3955 viewsmonytowbray

The house letting industry is out of control, Pt. 1352314... on 09:13 - Dec 14 by Benters2

I was at the time but I gave them £100 a week keep.


What % of your overall income was that at the time and in what year?

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The house letting industry is out of control, Pt. 1352314... on 09:29 - Dec 14 with 3941 viewsHerbivore

The house letting industry is out of control, Pt. 1352314... on 09:19 - Dec 14 by Benters2

Giving them a day a week wages is hardly sponging is it ?

Good for you moving out at 20 did you move the bunk bed with your Hilux ?


Sponging, maybe not, however paying them 20% of your wages to cover rent, bills and food is naff all compared to the % of your wages you'd have been paying out to cover those things if you were living independently. So yeah, you did benefit from the bank of mum and dad.
[Post edited 14 Dec 2018 9:35]

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The house letting industry is out of control, Pt. 1352314... on 09:30 - Dec 14 with 3946 viewsBenters2

The house letting industry is out of control, Pt. 1352314... on 08:56 - Dec 14 by monytowbray

Having money and working hard is not a put in:get out ratio.


You do alright for yourself! Loads of tattoos,drugs,beers,season ticket,a trip to America what more do you want !?
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The house letting industry is out of control, Pt. 1352314... on 09:33 - Dec 14 with 3945 viewsmonytowbray

The house letting industry is out of control, Pt. 1352314... on 09:19 - Dec 14 by Benters2

Giving them a day a week wages is hardly sponging is it ?

Good for you moving out at 20 did you move the bunk bed with your Hilux ?


So you've sort of answered me in another reply...

£100 is a days wages.
£100 x 5 days = £500 a week
£500 x 52 weeks = £26,000 a year earned
£100 x 52 weeks = £5,200 upkeep.

Now, a couple of things to note...

Assuming this was 1979 at the latest, by today's inflation your salary then was the modern equivalent of £125k - there aren't many highly skilled manager/director positions paying those wages in London, let alone outside of it. Earning that as a manual laborer would be impossible in 2018.

The other thing is your upkeep would have been 25% of your income. My outgoings for rent and bills is 40% of my income after tax, and gets closer to 50% when you throw in the unavoidable expense of travel to and from work.

This is the problem Benters. I don't doubt you work hard but folk like yourself need to stop comparing your upbringing and what you had vs my generation and the one after that. We might have iPhones and tattoos but we also earn considerably less in terms of real money.

I don't expect you to do anything but downvote this post, but it would be awesome if it finally got through to you.

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The house letting industry is out of control, Pt. 1352314... on 09:48 - Dec 14 with 3929 viewstractorboy7777

The house letting industry is out of control, Pt. 1352314... on 08:47 - Dec 14 by Benters2

By 20 I had my first brand new Toyota Hilux £10k it cost me.

That was through hard work like your good self by the sound of it.


As Callis has pointed out, the sort of wages needed in today’s UK to be able to buy something equivalent is near on impossible.

I started as an apprentice in accountancy on £3.60 an hour and that is only 6 years ago. I could have been allowed on £2.60 but I have a nice boss.

By 22 most people would have only just left university after being highly encouraged to do so by the current education system and would have no savings what so ever.

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The house letting industry is out of control, Pt. 1352314... on 09:52 - Dec 14 with 3918 viewsBenters2

The house letting industry is out of control, Pt. 1352314... on 09:33 - Dec 14 by monytowbray

So you've sort of answered me in another reply...

£100 is a days wages.
£100 x 5 days = £500 a week
£500 x 52 weeks = £26,000 a year earned
£100 x 52 weeks = £5,200 upkeep.

Now, a couple of things to note...

Assuming this was 1979 at the latest, by today's inflation your salary then was the modern equivalent of £125k - there aren't many highly skilled manager/director positions paying those wages in London, let alone outside of it. Earning that as a manual laborer would be impossible in 2018.

The other thing is your upkeep would have been 25% of your income. My outgoings for rent and bills is 40% of my income after tax, and gets closer to 50% when you throw in the unavoidable expense of travel to and from work.

This is the problem Benters. I don't doubt you work hard but folk like yourself need to stop comparing your upbringing and what you had vs my generation and the one after that. We might have iPhones and tattoos but we also earn considerably less in terms of real money.

I don't expect you to do anything but downvote this post, but it would be awesome if it finally got through to you.


Where do you get 1979 from? I was still at school!
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