Echis R... Landlord Today

Tax changes on borrow costs and higher interest rates have no effect where there is no debt. That is the reality and debt free landlords have seen significant income growth. Interest rates are not high by historical standards. Current problems suggest that many have been sailing too close to the line and lack effective risk management processes.

From: Echis R 16 June 2022 16:04 PM

From: Echis R 16 June 2022 15:37 PM

"It will be illegal for landlords or agents to have blanket bans on renting to families with children or those in receipt of benefits. And it will make it easier for tenants to have pets, a right which the landlord must consider and cannot unreasonably refuse." 70 years ago it was a case of no blacks, no dogs and no Irish. Today it is no children or those in receipt of benefits. As for the poor old dogs, they have remained out in the cold unless they happen to be the landlord's pet. Can anyone wonder why regulations are steaming in on us so fast? You want the right to chuck people out of their homes on a whim. Renters have lives and families and it turns their life upside down. As a landlord you have responsibilities and you shouldn't do that.

From: Echis R 16 June 2022 15:06 PM

If only two thirds of rents are “affordable”, this looks like a dysfunctional market. I am not happy for my tax payments to be used to prop up an overpriced rental market. We need to get our prices right. People on low incomes need homes to live in. As landlords, we have to stop relying on state handouts to make the numbers work.

From: Echis R 15 June 2022 15:00 PM

Agreed. This has been an unholy alliance between builders and government backed incentives. Many people will be angry about what they paid for in years to come.

From: Echis R 13 June 2022 17:32 PM

Simon, credit to you! Your children face a property market which has lost its compass bearings. Your team need to sit this one out. My near neighbors bought their house 18 months ago. They are now selling up and want 20% more than they paid for it. Maybe they will get this but I seriously doubt they will get their money back. Property has become too much like bitcoin.

From: Echis R 13 June 2022 17:10 PM

The small time buy to let market has possibly seen its best days. One person extended on debt with 5 buy to let properties cannot match the service offered by bigger players. This is not about anyone baying after anyone else's blood. It is about customer service and value for money.

From: Echis R 13 June 2022 16:34 PM

“The market became detached from reality two years ago and now buyers have started to be much more careful about making sure the fundamentals of a property deal add up. They can sense change is in the air and know that the economy is likely to be in a very different place in 12 months’ time. After such a blistering run, that goes for the property market too.” As landlords, we are risking our own money but we need 10% YOY house price growth if we are to keep roofs over the heads of our renters. If house prices are cooling, the government needs to bail us out.

From: Echis R 12 June 2022 17:09 PM

"He admits that Justice for Tenants operates a no-win no-fee system, effectively making law cases against landlords “straightforward” with the organisation instead taking a share of the fine payment made if the landlord loses." 'Justice for Tenants' does not sound like the name of a law firm. Everything else about this smells like lawyers on the make.

From: Echis R 09 June 2022 15:40 PM

Edwin, the sub prime crisis was what it says. Sub prime debt was taken on and then passed to third parties. That is much more difficult now and large lending organisations will not get exposed the same way now. If you are an over leveraged borrower, it is your problem, not theirs. This is about market competition. If large BTR players move in, they are the competition. They will raise the game because, like supermarkets, they have the advantages of scale. The supply demand imbalance at the moment is so much in favour of landlords that they cannot lose, no matter how badly they manage their properties. It will not stay this way and that is down to market forces. This is about upping the game (and accepting that the article was sales hype).

From: Echis R 26 May 2022 15:35 PM

Edwin Morris, sub prime happens when income on the debt fails to cover the debt repayments. If renters opt to pay more for better service and accommodation, that is market economics. That might look like a sub prime crisis for some but it is not. Lenders have become more careful these days, hopefully.

From: Echis R 25 May 2022 16:47 PM

75% for the sauna, 55% for the boat slip, 49% for pets, valet parking 40%, air conditioning 37%. I have worked this out cumulatively so if you have a place you are renting out for £1,000 a month, you should be charging over £5k a month if you tick all the boxes. People in Wiltshire, don't read this. You don't have boat slips that take you anywhere.

From: Echis R 25 May 2022 15:12 PM

The article looks like a marketing pitch but an important point sits behind this. There is enough turnover in the renting market today to pull in large companies who can exploit economies of scale. The corner shops of the 1970's were high priced, poor service and had limited stock. Then the supermarkets moved in and things changed. Corner shops went out of business but then came back as chains owned by the big players. It is about upping the game because the supply demand imbalance will not last indefinitely.

From: Echis R 25 May 2022 14:44 PM

Pickpocket reveals problems between landlords and renters

From: Echis R 24 May 2022 18:51 PM

You should take a business loan in this case rather than a mortgage. Jo Westlake makes a good point.

From: Echis R 23 May 2022 15:02 PM

Prices find their own level on the price demand curve. Where the opportunity exists to increase rents, that happens anyway. Right now, many renters are sacrificing financial futures to keep a roof over their heads. When limits like this are tested, the agenda shifts from free market economics to politics. Politicians use the levers of tax and regulations to win votes. We see that happening now. Squeezed LLs cannot solve their financial problems by demanding what they want.

From: Echis R 10 May 2022 16:08 PM

"The analysis shows that the average rental yield fell to 3.7 per cent last year, down 0.3 per cent year on year and a drop of 0.6 per cent when compared to pre-pandemic levels." Inflation is 5.4%. When income yield is lower than inflation, prices have to go up to balance the books. The alternative is to play the long game.

From: Echis R 23 February 2022 15:55 PM

"Landlords with large budgets and who are seeking a surprising discount, even in today’s market, could be tempted by research which shows discounts on high-end homes across London, up to £155,000." Property prices are heavily influenced by sentiment. If the asking price for high-end homes in London is down by £155,000 that is a shift in market sentiment, not a discount.

From: Echis R 23 February 2022 15:23 PM

If you own a property for rent, you are engaged in a business. The rules for a business are different to those of a private citizen.

From: Echis R 23 February 2022 14:53 PM

Tenants have been treated badly but the money goes to the government/local government. If this is a new cash cow for local authorities, incentives are in the wrong place.

From: Echis R 23 February 2022 14:40 PM

The Royal Institution of Chartered Surveyors’ latest index suggests there’s no end in sight to rent rises in 2022. The end to rent rises will be civil unrest. Who wants that?

From: Echis R 21 January 2022 16:06 PM

According to google there are 6,500 languages in the world. Which ones do you want covered in the national curriculum? Most people go to places and get on with it. They learn the local ways and language. Some stick to English and make demands in a loud voice.

From: Echis R 18 December 2021 16:16 PM

The Bank of England need to drop interest rates by 2.45%. That will be good for the housing market and also help those entrepreneurs building property portfolios. Increasing rates by 0.25% would be a smash in the face and will put some of us out of the game. Does this government understand the entrepreneurial spirit or not? Time to vote Labour I think.

From: Echis R 15 December 2021 17:18 PM

Andrew, fair point but market rules apply. If your properties can get an extra £150 per month, that is down to what the market will take. When it comes to remediation, it may take a few years to get the money back. Tricia is implying she has problems on this score, but she has to take the hit and look at this long term. Dumping tenants to resolve cash issues is not the way to do it. There is a professional aspect to this and tenants have lives. There are ups and downs to letting for everyone.

From: Echis R 27 November 2021 18:26 PM

George, I am listening to Max Boyne. We all should.

From: Echis R 27 November 2021 16:11 PM

Renting is a professional activity and as such, it carries costs. If your properties are not up to scratch with current regulations, sort them out. If that means paying for your tenants to locate elsewhere while the work is done, pick up the tab and get on with it. Alternatively wait until they go and then get it done. Either way stop whinging. Right now, renting for most landlords is the closest thing there is to free money.

From: Echis R 27 November 2021 15:38 PM

"Inspections are so important they should be done by the landlord to build up a rapport with the tenant and nip issues in the bud. I don't believe a third party will do either as well as I do." Rapport is built up between two reasonable parties. Professional landlords have the skills to build up rapport and also deal with bad tenants. Tenants are not equipped to deal with bad landlords. In the latter case, letting agents sit in the middle and make money playing off both sides. In short I agree with you. The market needs more professional landlords and fewer letting agents. A good tenant does not need or welcome inspections. If there is a problem, they will say so.

From: Echis R 27 November 2021 14:55 PM

Have I missed something here? How can Hexo Services have any financial interest in the outcome of this survey?

From: Echis R 13 November 2021 15:13 PM

Not enough I am afraid! HM Courts and Tribunal also need to confirm that no firing squads will be permitted in the event of landlords and tenants playing football against each other over the same period.

From: Echis R 13 November 2021 14:51 PM

Constantly pushing up rents will ultimately lead to civil unrest. Young people need a life and hope for the future. You cannot just keep taking what you can get away with. The housing stock certainly needs to be increased. I agree on that. As to whether the homes belong to landlords or home owners makes no difference. People need homes.

From: Echis R 08 November 2021 17:43 PM

If you run an engineering business, banks look for 5% above base rates on loans. You get that if you put up personal collateral.

From: Echis R 08 November 2021 16:38 PM

'Diligent and compliant lettings agents' I put this into google translate and had no results. What is this language you speak of.

From: Echis R 04 November 2021 16:13 PM

Want to comment on this story? Yes because it is not a story. It is marketing fluff.

From: Echis R 30 September 2021 17:11 PM

Michael Foley When your tenants are paying off your debts, your financial commitments are zero. You carry risk and that is the game you are in. If you were renting out industrial units, you would face tougher rules and more regulations. Stop complaining.

From: Echis R 30 September 2021 16:48 PM

If you had a tenant with a rhino without permission, I would definitely be with you. Complaining about an undeclared pooch comes across as OCD. Carpets get messed up and cupboards get chewed. In some cases the customers don't need pets for this to happen. That is the price of staying in the game. Are you a professional or an amateur?

From: Echis R 20 September 2021 15:31 PM

Styx Is this about letting to people with a pet cat or dog? Both species have lived with humans for 10's of thousands of years. Aside from a minority of chippy landlords we have found a solution for cohabitation which works for all species. If I was in the market to rent with a pet that eats literally 1,000's of animals, I would look for a house with very thick bars. Other than that, what is a Carly?

From: Echis R 03 September 2021 16:04 PM

Tricia, your sentiments on wanting versus getting comes across as a wish to impose your personal views on people. Don't do that, relax. People who keep animals are not monsters. On balance they are likely to be better tenants.

From: Echis R 26 August 2021 15:38 PM

Properties at £7k a month. There are just not enough of them around.

From: Echis R 24 August 2021 19:55 PM

Cleaning up graffiti should be down to the government and local authorities. If they don't have people to do that, the alternative is better law enforcement. If they are not prepared to prevent or repair the damage done, they need to ease up over rules on citizen justice. I don't support citizen justice because that appeals to the wrong kind of person.

From: Echis R 24 August 2021 16:19 PM

The other side to this is the ROI on the degrees themselves. Living costs, rent and tuition fees come to not far short of £30k a year. They pay this for 3 or 4 years. There will always be winners but most of those would win with or without the degree. Very few commercial organisations would speculatively invest £100k on a punt like this. Universities are selling bad deals to doting parents and teenagers with no life experience.

From: Echis R 08 August 2021 16:04 PM

Quite right. Playing music loud, slamming doors or having rows with your missus is a privilege that must be reserved for owner occupiers.

From: Echis R 22 March 2021 14:33 PM

You are preaching to the choir here Andy. If these people don't have money to pay for a roof over heads they need to be on the street. Its the only language they understand.

From: Echis R 15 February 2021 16:00 PM

"A package of hardship loans and grants is needed as a matter of urgency. To expect landlords and tenants simply to muddle through without further support is a strategy that has passed its sell by date. Ben Beadle - chief executive of the National Residential Landlords Association" We have to accept risk. The income of our tenants has dropped and if the market cannot sustain our current rents we must adapt. Going to government with begging bowls is not the answer.

From: Echis R 15 February 2021 15:47 PM

"I apologised if I had made her feel like that" Fake apologies are annoying as is having strangers wandering through your home.

From: Echis R 15 February 2021 15:20 PM

This fine is ridiculous. How can we trade without letting agents. If fines are taking money off them, they will go out of business. Then we have no way of filling our property portfolios. Who will look after our investments then?

From: Echis R 29 January 2021 18:11 PM

I saw the writing on the wall and I am now diversifying. Some of my money will be going to Direct Bullion. They are Spear's 500 recommended and it doesn't get better than that. The rest my money is going into buy-to-let cars which gives 11%. The first car assigned to me was a 2012 Vauxhall Astra. I have to sort out the clutch but after that it is pure profit. Let's keep trading guys.

From: Echis R 14 January 2021 16:19 PM

Andrew Townshend, I take the point and thank you. The relevant category of renters may be short suited on respect for property and debt. They are also hard up, mistreated and with little to look forward to in life. Landlords who want to take their housing benefit to enrich themselves do so at their own risk. They want the government's hand out money for substandard flats but they want this without risk. That doesn't work. They have a filtering process when taking on new tenants. They can say no or yes but they need to stop whinging and beating up people with nothing in life.

From: Echis R 26 November 2020 17:34 PM

"I am all for the more reasons to refuse benefit tenants the better." Well said David Crisp. We need to move these benefit tenants into shop doorways and cardboard boxes under railway arches. Even that is too good for them, these skiving filthy crooks. As a matter of interest where would you live if you had no money and would you steal for food if you were hungry?

From: Echis R 26 November 2020 16:01 PM

Totally agree Michael. Things like housing support, school food, uniforms, nursery aid etc should be going to bigger tax payers. It is their money.

From: Echis R 25 November 2020 20:16 PM

Robert Brown is right. We are OK and the whole idea is patronising. None of us want hand outs.

From: Echis R 25 November 2020 20:01 PM

David, Is she on a £600,000 salary? If so, that is outrageous.

From: Echis R 07 November 2020 19:40 PM

Richard Murphy is a chartered account and a professor. As such he deserves to be heard with respect. Lets keep it polite people.

From: Echis R 05 November 2020 19:18 PM

Sue. This makes complete sense.

From: Echis R 01 November 2020 18:41 PM

Paul How ever you look at it, BTL is not trading. You sit an asset and hope to make money. That's speculation. Fair enough but call it by its right name. If you have a problem with the plumbing, electrics or roof, you call in someone to sort it out. They are trading.

From: Echis R 29 October 2020 18:09 PM

Your definition of trading is not the same as mine. Trading involves work.

From: Echis R 29 October 2020 16:50 PM

If you are struggling, perhaps you should consider selling the property. There legitimate cases for bailing out some business sectors. Particularly ones that sustain jobs and are prevented from trading due to the virus. Buy to let does not really fall into either category.

From: Echis R 29 October 2020 11:23 AM

Abolishing Section 21 will have little affect on professional companies letting out properties.

From: Echis R 21 October 2020 16:56 PM

If all Landlords sold up tomorrow, prices would become more affordable and homeless families would "spiral" into homes of their own. The same properties do not vanish. Renting out is a professional service serving specific needs. Families need homes and long term security at affordable prices.

From: Echis R 21 October 2020 16:38 PM

We need to set rents at levels that customers can afford. We should not be going to the government with begging bowls.

From: Echis R 25 September 2020 17:26 PM

Everyone should be mad-keen to stop evictions. It is a devastating event for people on the receiving end. A small minority are chancers taking the proverbial but most are good people who have hit a rough patch.

From: Echis R 28 August 2020 21:36 PM

Paul, fair points but this is similar to the Laffer curve conundrum. Above a certain level, the higher the asking price, the less income is made (on average).

From: Echis R 28 August 2020 21:20 PM

The root of the problem is that rental costs have outstripped what the market can really afford. Tenants take on a properties they cannot afford and then fall into arrears. They get evicted and left with CCJ's. The owner is out of pocket. No one wins. The average return on property is a lot lower than the headline numbers. Scaling back rental prices will lead to a more stable and healthier market.

From: Echis R 28 August 2020 20:45 PM

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