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CORONAVIRUS UPDATE

See the latest Coronavirus statistics from across the world on our world map SEE MAP UK Confirmed cases: 277,985 | UK Deaths: 39,369 SEE MAP Italy Confirmed cases: 233,515 | Italy Deaths: 33,530 | Italy Recovered: 160,092 SEE MAP Spain Confirmed cases: 239,932 | Spain Deaths: 27,127 | Spain Recovered: 150,376 SEE MAP See the latest Coronavirus statistics from across the world on our world map SEE MAP UK Confirmed cases: 277,985 | UK Deaths: 39,369 SEE MAP Italy Confirmed cases: 233,515 | Italy Deaths: 33,530 | Italy Recovered: 160,092 SEE MAP Spain Confirmed cases: 239,932 | Spain Deaths: 27,127 | Spain Recovered: 150,376 SEE MAP

TODAY'S OTHER NEWS

What impact could coronavirus have on the housing market?

The property market had enjoyed a boost thanks to the outcome of the general election in December, but now the market faces uncertainty as the coronavirus pandemic continues.

Residential property prices increased for the fourth consecutive month in February as the market’s so-called "Boris bounce" pushed the average cost up to £312,625 according to Rightmove, but there are concerns that the surge could be dented by the coronavirus outbreak.

The property website reports that prices are up 3.5% year-on-year, thanks to a major rebound in the market since the Conservatives' election victory in December.

However, the coronavirus disease COVID-19, which has already caused a number of deaths in the UK, could pose a risk to this growth if it has an adverse impact on buyers’ confidence,

Colby Short, CEO at estate agency comparison website GetAgent.co.uk, said: “These are great numbers from Rightmove in respect of asking price highs and a significant reduction in the time taken to sell, particularly in the capital. But hold on, this is data collected only up until 7th March - and to say that a week is a long time in politics is nothing compared to a week where the CoronaVirus news cycle is concerned. 

“The year has started strongly for property and we all realise that the current crisis of health will be temporary, don’t we? But the question is, how temporary? And will a property market that had sprung from the doldrums of political paralysis weather a viral rival? I think so, but it will be challenging indeed for a while still.” 

There are growing signs that the disruption caused by coronavirus is spreading into the property industry, but London-based estate agency Benham & Reeves is urging buyers and sellers to “remain optimistic". 

Marc von Grundherr, director at Benham and Reeves, commented: “Covid-19 is of course a significant issue albeit that enquiry levels and viewings do seem to be holding up for now and we should remain optimistic, firstly for a swift resolution to the pandemic, followed by a robust response from the markets including property which is clearly well placed to withstand current uncertainty.”       

The impact this could have on the housing market is as yet unknown, as the length and continued coronavirus outbreak could cause yet more disruption.

Russell Galley, managing director at the Halifax, said: “The UK housing market has remained steady heading into early spring.

“The sustained level of buyer and seller activity is strong compared to recent years, with positive employment conditions and a competitive mortgage market continuing to support demand.”

But Galley acknowledged that it is a waiting game to ultimately see how the housing market will be impacted by coronavirus.

  • Bill Wood

    My guess is that some of my tenants will ask for a rent holiday, or maybe take one without agreement. But what can I do?

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    Be prepared, keep plenty of cash ready just in case. A bit late too say that now, of course, but if you can fit in a judicious remortgage, go interest-only (if you are not already) or have some funds that could be re-purposed, any of those could do the trick to hold you over until tenants can catch up with payments.

  • Paul Barrett

    Responsible tenants would have saved at least 6 months of rent payments.....................just in case.

    They used to call them rainy day savings.
    Doesn't anyone do that anymore!?
    Or is EVERYTHING 'just in time'

    Just proves the vast amount of fecklessness that seems to be endemic in society.
    Go without until you have at least 6 months of rent or mortgage payments.
    I worked extra hard to build up my 'rainy day' savings.
    Came in very handy when mortgage interest rates increased to 15%!!!!!!


    But I was brought up differently to the snowflakes of today.

    If you can't save then obtain credit cards with sufficient limits to cover 6 months of rent or mortgage payments.
    I used to have credit card limits sufficient to keep going for 10 years of mortgage payments.
    Handy 'insurance policy' to beat repossession.
    Perhaps the current situation will concentrate peoples' minds to make themselves more financially resilient for that inevitable 'rainy day'.

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    Perhaps they could sell their fancy cars? Oh...hang on... it's on pcp! Most tenants self isolating will save a fortune on costalot coffees, booze etc. That combined with cancelling their Easter and Summer breaks should go a long way to paying the rent.

     
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    In "your day" Paul, houses were hopefully cheaper, in "your day" you could get university grants to get a good job to buy one. Then when the government steals your pension contributions you can let one or two out to give your self an income in old age thankfully. But in my day paul, i work hard. I went to a top ten redbrick and got student loans so my parents didnt have to remortgage. I also worked so i didnt have to take out too many. Then i eventuallg got a good job. But i had to move to diffrent citys to climb the ladder. I dont have a financed car, i do have a good job. My rent is 40% of my well paying jobs monthly salary. Because well paying jobs are usually in big citys and the rent is expensive. Not spending money on a flash car means i live in that city and cycle to work.

    I am finacially savy thankfully, and thankfully working people can pay the rents so people like you get to be a landlord and have something for there old age. My little bit of advice to you is to be gratefull for some tenants as you seem to be chewing on the hand that is feeding you Paul. As a tenant i like to think that my rental contributions help older people have a standard of life they deserve after allot of them lost their pention contributions after working hard all their life they desserve it. Do recognise allot of this generation of tenants have been put behind to pick up the peices. I hope you dont inflate too much, and i hope you are mindfull of these tenants who are paying for your internet connection. :)

     
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    In "your day" Paul, houses were hopefully cheaper, in "your day" you could get university grants to get a good job to buy one. Then when the government steals your pension contributions you can let one or two out to give your self an income in old age thankfully. But in my day paul, i work hard. I went to a top ten redbrick and got student loans so my parents didnt have to remortgage. I also worked so i didnt have to take out too many. Then i eventuallg got a good job. But i had to move to diffrent citys to climb the ladder. I dont have a financed car, i do have a good job. My rent is 40% of my well paying jobs monthly salary. Because well paying jobs are usually in big citys and the rent is expensive. Not spending money on a flash car means i live in that city and cycle to work.

    I am finacially savy thankfully, and thankfully working people can pay the rents so people like you get to be a landlord and have something for there old age. My little bit of advice to you is to be gratefull for some tenants as you seem to be chewing on the hand that is feeding you Paul. As a tenant i like to think that my rental contributions help older people have a standard of life they deserve after allot of them lost their pention contributions after working hard all their life they desserve it. Do recognise allot of this generation of tenants have been put behind to pick up the peices. I hope you dont inflate too much, and i hope you are mindfull of these tenants who are paying for your internet connection. :)

     
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    Hi,
    I'm not adverse to helping my tenants, but this is my soul income. I am a guarantor for my son who is care worker and is already in isolation.
    Will there be any help for me? It seems the world believe all landlords have bottomless pockets. I bought these properties as investment for my children. I've never put up my rent, always made good any issues immediately and now, we are flippantly expected to not take rent. How/where do I look for help. I have a young child at home too.

  • Paul Barrett

    Perhaps you should have increased rents in line with the market such that you may have built up a buffer which you could use for your own domestic circumstances?

    It makes no business sense to not have rents at market levels.
    But you are now where you are because of past unbusinesslike behaviour.

    You will need to manage accordingly.

    I simply cannot see private LL being given any assistance at all.
    Tenants might be with their wages paid so they should be able to pay rent.
    Though how some tenants who are not PAYE full- time employees will struggle to be paid as no wages would be known would be paid.

    It is a very difficult time for everyone.
    But guaranteed LL will not be directly assisted at all.

    Starts to make the DSS proposition seem not so bad now as the State still pays guaranteed rent.

    I predict more LL will become interested in letting to DSS tenants despite all the known issues with them

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    As a follow up, my landlord insurance covers for non payment of rent...but, only if I want to take my tenants to court, get them out and find new tenants.
    That is obviously not what I want to do.
    The Chancellor is, as I write talking about speaking to insurers to ensure they make payments and and change their parameters for claims to include Corvid-19.
    I think there is a case for my insurer to include non-payment because of pandemic, that doesn't mean throwing my tenants out.

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    I haven't put my rent up because both sets of tenants are fantastic and I'm not greedy, I manage very well on what they pay. I have a son with a young family and I see how extremely difficult it is for young people. I am endeavouring to do my bit by helping out these young people.
    I do have a buffer but I'm still quite young and have a young family.
    As I said this is my sole income.

    Paul Barrett

    How very twee!
    At what point do you consider you reach a greedy level!?
    Also who decides what a greedy level may be!?
    Do you consider market rents as greedy!?

    Not sure if you understand the business of being a LL ESPECIALLY if it is your sole income.
    If you choose not to charge market rents that is your problem.
    I always charge market rents and only two tenants have ever vacated as a consequence.
    I replaced them with higher rent paying occupants.
    It is your choice to restrict the income you receive.
    Don't think that anyone will thank you.
    To many you are still a snivelling parasite though of course you and I clearly aren't as we provide a much in demand service which nobody else is providing.

    Your fantastic tenants DON'T pay the bills if the rent they pay leaves you struggling.
    You should at least increase rents to market rents.
    Have you not been a victim like many other LL of all the bonkers anti-LL regulations!?

    Your costs must surely have increased.

    Perhaps you need to reconsider your business methods in light of everything that is occurring to ensure you are more financially resilient!?

    It is unreasonable for even fantastic tenants not to be paying the going rate whether considered greedy or not.
    Look after no 1; that's YOU!!.................NOT your fantastic tenants.
    I imagine your insurance is RGI in which case will only work if your tenants default on rent.
    You CANNOT initiate a RGI claim UNLESS the tenants default.
    Very shrewd of you to have RGI.
    But once claimed on your tenants will be eventually evicted.
    Might take many months but you will not be able to retain them if you needed RGI on them in future.
    They should know that many future LL will reject any tenants who can't qualify for RGI.

     
  • icon

    So, no then, no help for private landlords from the government on the horizon.
    Thank you for the self-righteous guidance, it was invaluable.🙄

    Paul Barrett

    Yep as a LL you MUST be self -righteous.
    If you aren't you could find yourself suffering greatly.
    As a LL you must always be correct.
    If you aren't you wont be a LL for long.

    I think you need to reassess what you are doing as a LL if you have concerns as to your viability.
    Nobody else cares what you do except perhaps your tenants.
    Suppose it depends on how much suffering you wish to do for your fantastic tenants.
    Up to you if you want to be a martyr for your tenants.
    As a LL you should accept that whether needed or not you have a responsibility as a business to charge market rates.
    This will build resilience for you and as may be evidenced by the CV19 debacle you can't really be too resilient as a LL.
    Self-righteousness could well save you from financial oblivion
    Your choice!

     
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    Matha West- Good landlords like yourself are unfortunately given bad reputation by greedy landlords.
    Keep up the great work. 👏🏻 👏🏻
    Nonetheless during these unprecedented period of CoVID19 pandemic, firstly communicate with your tenants, and find other potential cashflow to cover any possible rent arrears.
    As the Chancellor mentioned, contact your local council (re council tax break/benefits since it’s your sole income), speak to bank/mortgage lender to freeze/take a payment break for 3-6 months, approach insurer (if applicable), & engage with the local support services eg citizens advice bureau, pro bono legal advise centers etc. & use online resources especially since you have young children, it’s imperative that everything is done to protect yourself, children as well as supporting your good tenants. Best wishes.

     
  • Paul Barrett

    @abi B

    Please define who you are referring to as greedy LL.!?

    Ones who charge £10 less than market rents........£20, £30, £40, £50.
    Come on we LL all want to know as a seemingly self-appointed arbiter what you consider a greedy LL is.
    Personally I think you are an idiot pontificating on what you think are greedy LL.
    There is no such thing as a greedy LL.
    LL charge market rents.
    If tenants DON'T pay then others will.
    Just because someone can't afford market rents doesn't mean the LL is greedy.
    I DON'T consider LL in Central London greedy even though I can't afford such rent levels.
    I would have to rent where I can afford.
    If I am fortunate to source a dopey LL not charging market rents then that would be happy days for me!!!
    There are many fools like you that continually trot out the greedy LL moniker.
    LL charging market rents are not greedy LL.

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    Well said Paul, these idiots have no idea.

     
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    You are greedy Paul. That much is abundantly clear. I think it's about time you got a proper job.

     
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    I've been in the business 36 years and Paul you certainly make some good points however your aggressive attitude and sneering tone do you no favours. My favourite greedy Landlord owned 5 properties in Battersea, one particular year he did extremely well with achieving premium rents on all his properties I think £375pw when previously he was getting £320-325pw, so at the end of the tenancy he wanted to bump the rent to £395 as a matter of course, despite his agents advice that the market had fallen away and he would be lucky to achieve £325pw let alone £350 he insisted on trying to achieve the higher rent, the really good bit is that he had 3 vacant at the same time and because of his greed they were all empty for about 6 weeks and he ended up accepting the rents he had before. There is no doubt he is greedy and I know many others equally so who cheat and try to steal money from tenant deposit returns is another common area of dishonesty by landlords.

     
  • icon

    Please give the lady a break you are too severe, show some sympathy to people who are struggling, those are terrible times for everyone, surely the writing is on the wall. I have Tenants who have lost their jobs already or income very limited. This is going to be a big hit on LL's & Tenants alike, we were struggling too much before this due to Rogue Regulators, no stopping them but like to portray us as the Rogues imagine that they are just useless lobby groups, we are a very resilient lot to have withstood the last 15 years of battering, no other Business would have been bothered or dedicated enough to tolerate such abuse. Obviously this is a bad recession even without coronavirus we were doomed before because of unfair competition and taxes, now where are the LL bashers any more bright ideas.

    Paul Barrett

    We are all struggling but my bank the hated MX has NO sympathy whatsoever.
    It is pay up or repossession occurs.
    That is the reality.
    So lets have no bleeding hearts about how we LL should be understanding of these difficult times for tenants..
    Poppycock!!
    We can't care cos our lenders DON'T care.
    If my lender offers forbearance then I can to my occupants.
    No sign yet of any forbearance offer from MX!!!
    Until that occurs if ever I can have no sympathy with a tenants financial circumstances.
    It is pay up or get out.
    Believe me I won't be that bothered about the Prevention of Eviction Act!!!!

     
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    Paul Barrett threatening to kick vulnerable people out on to the streets during a global pandemic.
    Only caring or having sympathy for someones situation when it's financially convenient for yourself.
    Why can't you dip in to your "rainy day" fund?

     
  • icon

    I read this thread with such utter horror that i was moved to sign up to comment. Why the unwarranted unpleasant personal attack on Martha, Paul Barrett? A crisis like this brings out the best and the worst in human nature and it's clear who sits where in this conversation. My own commercial tenants are hardworking self-employed people whose decades old businesses face immediate failure due to social distancing. Surely this is a time for humanity and compassion; a time for people to help each other where they can so that we can all come out the other side in a position to pick up where we left off when this is over? My own lender is offering a 6 month repayment holiday which I intend to pass on to my tenants who no longer have an income to pay the rent. Treat people with respect and compassion and you will receive the same in return. We all pay LL insurance but they, as ever, will find a reason why we're not covered. Good luck to you Martha. It's the Paul Barretts and Direct Lines of this world who have been clearing the shelves of toilet rolls & pasta without a thought for anyone else!

    Daniela Provvedi

    Hi Martin, where I TOTALLY agree with what you say, please try and see both sides of the story. As mentioned before in some of my other comments, I also don't always agree with Paul Barrett (in fact hardly ever). However, you can't deny the fact that us LL have been treated quite badly by the government lately. Most of us do provide a good service, and yes, there are bad LL out there BUT there are many bad tenants as well. Most of Paul Barrett's comments show me that he's a disappointed, angry man. You're probably asking yourself "then why doesn't he stop being a LL and leave" - firstly, easier said than done, especially if you've been doing it for many years. And secondly, if you have read his comments, yes, he is leaving.
    You state "Surely this is a time for humanity and compassion" - you're right, it is. Where I just browse through and don't pay much attention to what Paul says, some people take it personally instead of just ignoring him. I hope Paul reads his past comments and realises he's being a d*ckhead.
    I ask that you and Martha don't take Paul's comments to heart, but to focus on other people's comments instead.
    And to Paul Barrett I say, you've crossed the line now. Stop being a d*ck and if you haven't got something nice to say, then don't say anything at all please.

     
  • icon

    Reading this thread it does confirm my experience with some LLs that it’s a filthy business that attracts a few greedy and ruthless people. Paul Barratt’s apparent obsession with the definition of ‘greedy’ reveals an elective stupidity that is typical of bullies. Martha seems like a perfectly reasonable and fair minded person and of course there are lots of decent LLs but the problem is that she is in a filthy business- basically living off other people’s earnings. No matter how you dress up making money from owning properties In a market that exploits housing scarcity as ‘providing a service’. I understand why people do it - it’s often a financial ‘no-brainer’ - but take a good look around you - at the likes of no-brainers such as Paul B here and the other bullying, self-justifying, grasping characters the business attracts. I would suggest getting out ASAP - unless you’re in for the long haul, sell up, there is a property crash on its way anyway.

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    Ian your opinion and of course you are entitled to it, but like others on here you do not disclose your line of work, as for the crash coming I welcome it property has been over valued for a long time, I'm not selling, and like many others I own my properties no loans, so if values drop I will likely buy, filthy business ? certainly right there you should see the s**t I clear up from some of these tenants, and yes I do do it myself, '' STICKS AND STONES MAY HURT MY BONES - WORDS NEVER WILL, but you carry on ,you and your like give us a good old laugh.

     
  • Paul Barrett

    Does make me laugh when behaving as a proper business is deemed as being a greedy LL!


    It is great if a LL wishes to assist tenants with their own resources.
    Personally I entered the PRS to make as much profit as I could.
    At no time did I ever consider that I would subsidise the living costs of my occupants.
    Of course along with maximising profits I always provided and excellent service to the point that many previous tenants returned to me.

    Even on here a site for LL we have some idiot LL castigating other LL for wishing to behave in a business like fashion.
    Most bizarre!

    LL simply aren't depositories of vast amounts of forbearance.

    It should be for tenants to have their own financial resilience.

    I don't expect my local supermarket to let me have food for free.
    So why is that it seems it should be for LL to subsidise tenant rent costs when financial difficulty occurs?

    The levels of fecklessness amongst the tenant demographic is simply astounding.

    To have many LL effectively supporting such fecklessness simply beggars belief.

    I am certainly not and never will be a LL that supports any sort of tenant fecklessness.
    If that makes me an objectionable character then so be it.
    I am simply NOT concerned in the slightest about any brickbats that might be applied to me.
    I'm a LL here to make money come what may.

    But for that to occur my business principles require me to provide an excellent service for which I charge a market rent.
    It seems such a business model is beyond the pale.
    Well that is just tough.
    I will not deviate from this particular business model no matter what other people think.
    .




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    Greedy ? lets take a look at what solicitors, accountants, car repair garages, heating engineers, etc etc charge, are they also not greedy? Everyone is greedy we have to be in order to survive, governments, both left and right over the past 30 yrs have caused this.

     
  • Paul Barrett

    @Danniela Proveddi

    I'm very surprised you disagree with most of what I state.
    I feel that makes you not a proper LL.

    I wish to know at what point LL on here consider that a LL becomes greedy.
    Simple question!
    The 'greedy landlord' brickbat is a commonly used phrase but nobody is prepared to state at what level a LL is deemed to be greedy.
    I charge market rents because I am behaving as a proper business.
    For LL like Martha to moan when she clearly isn't and hasn't behaved like proper LL that is her lookout.
    To me she is a very nice person but useless at being a proper LL.
    That is her choice.
    If she chooses to behave in such a fashion then LL like her are the first to suffer from feckless tenants.
    Obviously a great shame but that is people.
    Most people are very nasty when it comes to paying their debts and meeting their financial obligations when times get tough.
    LL of course are directly in the firing line when tenants suffer financial distress.
    LL simply need to consider how they wish to operate in such circumstances.
    But charging market rent cannot be considered as being a greedy LL.

    I know that based on my assessment of the BTL business model from long experience that it is increasingly unviable.
    The CV19 crisis has just compounded that reality and is why I intend to leave the AST BTL sector as soon as I profitably can.
    I will take a few years to achieve but leave I will.
    I will feel sorry for my tenants but I intend to redeploy my capital to more profitable and resilient accommodation business model.
    I see me being reduced to one unencumbered property.
    That would satisfy my aspirations for suitable income and a far easier life.
    I would wish all you remaining highly leveraged LL the best of luck as you will surely need it!









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    Freckless tenants will always take the P, give them an inch and they will take a mile

     
    Daniela Provvedi

    Hello Paul,
    Don't worry, I'll explain why below, so that you don't have to be surprised anymore....
    But before I do, I don't care if you think I'm not a proper Landlord. All my tenants think I'm OK, and that's all that matters. They're the ones paying me, not you, so you carry on thinking I'm not proper, it makes no difference to me. At least I'm still in business, and you're the one that's leaving the PRS.
    Another thing I want to ask is... who are you, Paul? Your profile doesn't state anything about you? and there's nothing listed in the "My expertise in the industry" section? How can we take what you say seriously when we don't know who you are? Have you seen my profile? At least you know who you're talking to here.
    So now that we've established that we know nothing about you, we can move on. (You may be one of those "feckless" tenants pretending to be a Landlord for all we know).
    What I don't like about some of the things you say is that there doesn't seem to be any comradery coming from you. Us LL should stand together against this sh*ty system, but yet you come along and pull us down.
    Comments like the following:-
    "Fools rushing in are what new entrant LL are" - dated 13/2/20
    "Good being a LL, isn't it?" - response to MJ Evans 18/3/20
    "Mass bankruptcy of many mortgaged LL" - and other awful comments dated 28/3/20
    "Best you get a job then. Lots of field workers required". - response to Heather Keenan 28/3/20
    "Country going to the dogs. Best get out of the PRS asap". dated 31/3/20
    "Twits like Martha." - dated 2/4/20
    The way you treated Martha Vest was despicable, Paul. Myself, Michael Foley, Martin Hucker and others thought you went too far. You were too severe and downright nasty. In fact, you inspired some person called "Your time is coming Paul Barrett" to go against your horribleness. (I don't agree with coming on here without a proper name, by the way. And you can see my comments to that person dated the 19/3/20).
    And then you've got the nerve to state "Even on here a site for LL we have some idiot LL castigating other LL for wishing to behave in a business like fashion". dated 2/4/20 LOL..!! you're probably talking about me.
    Can't you see, Paul, that YOU'RE the idiot LL castigating other LL on this site?

    Wait, I'm not quite finished yet.....
    What about the complementary comments you say about tenants....
    "Homeless scum" - dated 9/2/20
    "Scroat of a tenant" - dated 28/3/20
    "Students are feckless snowflake wasters and not worth bothering with" - dated 2/4/20
    "The feckless attitudes of students makes them unsuitable tenants as far as I'm concerned" - dated 2/4/20
    Imagine the LL on here (and there are some, I've noticed) who's children are students. How would they feel with comments like these?

    Paul, I'm also pi**ed off with the system. Disappointed and feel let down. Feel betrayed and very, very annoyed. But I don't take it out on other LL on here, and especially not on tenants (students or other) who pay me my bread and butter every month.

    Pull yourself together Paul, otherwise leave this site. You're putting a downer on an already terrible situation.

    Take care,
    Daniela

     
  • Paul Barrett

    Yep it is indeed the case.
    But what I wish to know is at what level a LL is deemed to be greedy.
    You have twits like Martha stating she is NOT a greedy LL but she refuses to state why the rent she charges is not greedy compared to other LL.
    Other LL may charge less than her.
    Does she not then become a greedy LL?

    I'm afraid such a phrase tends to be used with gay abandon by society in general and now even certain idiot LL are joining the greedy LL mantra.
    I maintain charging market rents is not greedy.
    It is just the market.
    Of course private rents are more than social rents as LL are subject to commercial pressures that Social LL aren't.
    Market rents must reflect not just the actual costs of the LL but must build into the business model sustainability and net income potential otherwise it is pointless being a private LL.
    A market rent arises as a consequence also factoring in demand and supply.

    It seems some idiot LL on here consider that for this to occur means that LL is a greedy LL.
    A most bizarre concept.
    I consider such LL as not truly being proper LL.
    They are just playing at the business.
    That is all fine and dandy but please let them not besmirch the totally correct and appropriate business attitude of those LL seeking to maximise their business model.

    Personally I fully respect and commend those LL willing to subsidise their feckless tenants' lifestyles.

    I feel such very nice LL are being taken advantage of but of course it is their prerogative to allow themselves to be taken advantage of.
    But please that gives them no right to castigate LL such as myself who choose to maintain sound business practices.

  • Paul Barrett

    @danniela provvedi
    I think you misunderstand.
    I fully support LL who choose not to operate as a proper business.
    I just don't want them trotting out the poor me attitude and accusing LL like me of being greedy when all I do is charge market rents for my properties.

    I'm afraid my views on certain types of tenants are exactly correct.
    Many LL will unfortunately find themselves agreeing with me as more feckless tenants default on the rent.
    Don't they have savings.
    If not why not!?
    Spent it all I guess.
    Why should LL support feckless tenants!!

    I commend all those LL out there who choose not to operate as proper business people.
    They are effectively operating as quasi social landlords.
    I applaud such LL.
    However they must surely appreciate that this makes them invariably more vulnerable to feckless tenants.
    Though I suppose quite frankly those LL who have UC tenants are in a pretty good position.
    Such tenants I consider to be the dregs of society and have proven to be socially irresponsible.
    Most of them knocking out as many benefit babies as they can to avoid ever having to work for a living again.
    Such tenants are worthy of the well deserved contempt I have for them.

    Certainly borne out of personal bitter experience of the 10 years of being a LL with 5 properties.
    One in Southend and 4 in Bishops Stortford.

    I have always provided and excellent service and have sought to charge market rents.
    That to me is being a proper LL.
    Anything less cannot be described as being a proper LL.
    Such LL are playing at while obviously they are essentially providing an element of charity.
    That is fantastic if that is what they wish to do.
    But it is not being a proper LL.

    I'm afraid that recent events have confirmed all my informed prejudices.
    My vast detrimental experience of feckless tenants had led me to conclude I wish to stop being an AST LL.
    I make good money doing so now.
    But it is a very fragile existence.
    I have all Ryanair and consequently they are struggling.
    Fortunately I have 4 in a 2 bed flat.
    So they share the costs and it makes my flats affordable for them
    Though even two of those have vacated breaching their contract.
    So to me scum tenants!
    A perfectly reasonable assessment of them as people.

    Unfortunately in this game it isn't possible to get out quickly for maximum profit.
    This I must achieve so I am stuck being a LL selling a property every tax year.

    That is the cross of responsibility I have to bear.
    If course I appreciate nobody forced me to be a LL.
    That is my fault that I became one.
    So I don't really blame feckless tenants for my issues as it is generally in their nature.
    Knowing what I know now I might not have even bothered being a BTL LL.
    But we are where we are!!
    To all those slightly naive LL offering their services at less than market price I take my hat off to you.
    But it is not how I choose to operate.

    Unfortunately the current CV19 crisis has just highlighted how many feckless tenants there are and therefore consequently so many LL have been made extremely vulnerable through really no fault of their own.
    Manifestly unfair and victims of a system which holds private LL in contempt.
    Makes you wonder why we bother!?
    Well I won't as soon as has I can get out.
    My tenants will miss me as I provide an excellent service.
    However I consider it largely a thankless task and have determined that it no longer has any hold over me.
    I can earn just as much by being a live-in LL which is what I am striving to be now.
    So if anyone wants to 4 flats off me for about £1.5 million I have 4 very nice river facing flats on the Central Walk development in B Stortford.
    3 on the ground floor and one on the first.
    All 2 bed 2 bath.. All fully occupied!!

    Daniela Provvedi

    OK Paul. Look, I've nothing more to say. I wish you all the best.

     
  • Paul Barrett

    Yep I say to all LL those that charge market rents and those that choose not to the very best of luck for the future.
    Many will be lucky to still be LL.
    Unfortunately there will be many repossessions and LL bankruptcies.

    A real shame but it's a jungle out there and only the fittest will survive.

    I consider myself a sloth which is why fitness will never be my thing.
    So I must get out of the AST PRS.
    Leave the AST market to those really fit LL.
    They are welcome to it as far as I am concerned.
    I believe however that many LL will have to toughen up.
    The days of being a nice LL charging lower than market rates will be over
    A new sense of realism will pervade amongst LL remaining in the AST. sector.
    The PRS will be changed significantly.
    LL purely from a survival perspective will need to become hard nosed as to how they conduct business.

    A shame but recent events have made such imperatives as obvious.

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