Most were making a loss with rents force down the during the recession and when rent and then when times got better they were slow to put up rent and then got trapped below market rent by rent controls.
Hassle. Red tape. Tired of the business. More and more horror stories about tenants overholding. Reading PRTB horror cases. (there's one on here currently where the tenant is smirking at the landlord, another thrashed the places causing untold damage in the thousands - front door, furniture, garden).It would seem perverse,to a non landlord,that with rents at the highest level ever achieved since the foundation of the state,that you are leaving this business.
If it was profitable when you started the investment(and surely it was) then it must be super profitable now.
It would seem perverse,to a non landlord,that with rents at the highest level ever achieved since the foundation of the state,that you are leaving this business.
If it was profitable when you started the investment(and surely it was) then it must be super profitable now.
As I understand it, what this effectively means is that the cost of the mortgage repayments was not being met by the rent?
In other words, in the midst of a housing crisis, some landlords are expecting others to repay the mortgage on their property plus provide a profit.
The more of these landlords that leave the market the better. Put the properties up for sale for FTB's. The more that do this, the more it will assist in price stability or price drops in the market.
As I understand it, what this effectively means is that the cost of the mortgage repayments was not being met by the rent?
In other words, in the midst of a housing crisis, some landlords are expecting others to repay the mortgage on their property plus provide a profit.
The more of these landlords that leave the market the better. Put the properties up for sale for FTB's. The more that do this, the more it will assist in price stability or price drops in the market.
I think I will print this off this thread and give it to all the people who tell me that they want to buy property.
The more landlords that leave the sector then the bed spaces available for rental decreases and unless additional supply comes on board then rents increase as supply has fallen.
In case you've missed it, government policy for housing is that us private landlords provide it.
You're delusional if you think driving us out of business will solve the housing crisis.
Most of my tenants can not purchase a property and never will, so where do you think they should go?
Im not suggesting reducing the amount of landlords, just the ones that saw buy-to-let properties as a cash cow for others to pay the mortgage+profit and sell at retirement.
When the going gets tough these 'landlords' are bailing out.
Landlords should be providing a competitive alternative option to house ownership. Providing quality accommodation at competitive prices that provide a real option for people. They dont.
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As I see it there are two types of landlords. Those who are looking to profit and set themselves up for retirement and those who are reluctant landlords due to negative equity / property crash.Im not suggesting reducing the amount of landlords, just the ones that saw buy-to-let properties as a cash cow for others to pay the mortgage+profit and sell at retirement.
Put the property up for sale, I will buy it and let it out. I will slash the rent by 50% offering decent accommodation at affordable prices that provide tenants a real alternative to home ownership (whether they can afford it or not, they now have a choice).
I bet you I can find tenants that will appreciate the property and look after it.
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