I'm a landlord (just a 2nd home/flat that's rented out to someone). The work involved is: 1 hour visit a month (if tenant wants it) to discuss any issues with the property and then arranging plumbers/decorators/electricians if needed. Anyone that tells you being a landlord is "hard work" is talking utter bollocks
I was going to say it's hardly a 40 hour a week job even if you have more than 1 property to manage. There's literally months that can go by without anything needing do and if stuff does need doing it's probably because they didn't fix everything in the property BEFORE they started renting it out. The guy who says his mate works 70/80 hours a week is talking rubbish, the only way that would happen is if they had multiple properties and they do all the repairs and work on the house literally on their own cause they are too tight to spend a few grand on a proper trades person to do a good job out of the thousands they get every month.
@@markh7457 You sound like a dream landlord. Mine says he will sort things out but is too mean to hire a professional and claims he will do it but he doesn’t. So I have no heating as he didn’t fix it (I bought oil fill radiator), I have no oven (he just went quiet about that - wouldn’t answer me) so I bought an air fryer, the bathroom is moldy due to cold, I could go on. He has managed to make sure he increased the rent by 25% this year, he was very organized about that.
@@chrisd5964 I'm not a landlord to make a profit. In fact, with the cost of maintaining things, ground rent, service charge, capital gains tax and mortgage, we only make £2,500 a year profit. That just goes to savings for when the flat inevitably needs something more major i.e. a new boiler. Call me a champagne socialist but I don't believe that people should be able to make money for nothing. I get more satisfaction from knowing that there's a small family living in a well maintained flat and doesn't have to worry about being scalped by a landlord.
If you think landlording is just work, then you are an idiot. You are rewarded for putting capital at risk, you did the work to get the deposit together 🤯
@@vvwalker7261 2 things: 1) This video is about what work Landlords do. The answer is very little 2) Capital isn't exactly at risk is it? How often do house prices go down at such a rapid amount that equity is then lost? Most landlords are on an interest only mortgage anyway which costs peanuts yet they charge their tenants as if they're paying a mortgage. If the housing market depreciates, the landlord isn't making a loss.
My landlord has worked so hard that the heating doesn’t work, the oven doesn’t work, the bathroom is damp and moldy and he’s put the rent up 25% this year alone. I thank him for his hard work.
@@elementalrainbow The property isn't theirs though. When the appliances break, you have to wait for the landlords ok to get someone in to fix them. When you tell them that the bathroom isn't properly ventilated, they shrug and do nothing. I contractually cannot make changes to this property as it isn't mine. We're at the mercy of our landlords. Acting as if it's a personal responsibility issue is either naive or stupid, take your pick.
I am financially ok, not rich but fairly comfortable, and agree, love seeing the wealthy cry about how hard it is. Try being a nurse who is a single mother working 60 hours a week and still has to use a foodbank. Millionaires moaning about increasing the minimum wage blows my mind. My business will lose out with NI (I pay all my staff above minimum wage anyway) and the decimation of the Buy To Let market the budget causes, I will suck it up an adapt. I think this was a great budget even though it 100% hurts me but I am a true patriot who believes in funding health and education so hopefully my children can benefit from what I had. In fact I would have gone further, we need a wealth tax and if the billionaires want to leave, bye, bye we don't want you here.
@@leecourtney1225 We are a debt creating country not wealth creating. Kissing goodbye to wealth creators simply ensures continued debt for future generations.
The only landlord in this video that can see things through the correct eyes is ironically the chap who's of immigrant descent. And all the whingers are the white, old men. Boohoo. For the record I'm a white man, just in case anyone tries to claim offence to me laughing at them crying their eyes out because they have to pay their fair share.
I'm not sure that's a useful distinction. At the end of the day both earn money through the investment of their capital, instead of selling their labour.
The “working people” tag probably isn’t helpful because you get clowns like the two towards the end claiming that having your phone switched on and occasionally calling out a plumber is hard work. Your definition is much better. They should have categorised it as something like productive and passive income
The largest drain on the welfare state is housing benefit and universal credit. Paying private landlords and businesses that pay their employees poorly.
@@upsidedownnoise Incorrect. Pensions are the main drain on the welfare state by a long way. Welfare spending can be broken down into different groups, including: Old age: The largest group, accounting for 10.4% of GDP, and mainly relating to pension payments Sickness and disability: The second largest group, accounting for 2.8% of GDP, and mainly representing social payments in cash or in kind Family and children: Accounting for 1.9% of GDP Survivors: Accounting for 1.5% of GDP, and mainly containing pension payments to survivors of a deceased insured person Unemployment: Accounting for 1.2% of GDP Housing: Accounting for 0.3% of GDP, and mainly comprising social protection payments to households to help with the cost of housing Social exclusion: Accounting for 1.1% of GDP, and containing benefits to persons socially excluded, such as on low income, refugees, or suffering from substance abuse
@@upsidedownnoise "Paying private landlords and businesses that pay their employees poorly." Ye olde "socialism for the rich". Someone needs to grow my pie. Maybe you can have a slice when it's big enough.
I'm a landlord and don't mind paying more tax, however although I don't have debt or need to work, I wouldn't consider myself rich. @an1_uk - the government can't go too hard on landlords as they completely understand that if they do, we'll raise the rents and they'll have to increase the housing benefits budget.
They’re always the first to talk about bootstraps when it comes to actual working class… but as soon as they’re having to make it work it’s like ‘fucking stealing from the hard working landlord… how am I going to afford to run my 3 range rovers now?’
The same guy talks of Labour “pulling the ladder up behind them” then continues to say he is descendent of immigrants and starts to suggest immigration is now an issue. Couldn’t make this up. Absolutely detached from reality.
I agree with him to some extent he specifically said illegal immigration, which is a major problem, unfortunately people are too scared to be honest that illegal immigration is really bad as it's just letting anyone in, legal migration is fine as people have been vetted and the government can control it and decide what skills they need to grow the economy.
Even legitimate immigration is quite a problem as it has not been resourced properly - with sufficient housing, healthcare etc. The millions we have given a new home too have put extra burdens on existing resources. Not their fault, but our successive governments (including New Labour’s).
@@sebastianohalloran9093 Actually data shows that on average immigrants have a net economic benefit to the country versus what they "cost" through public services, housing, education etc. Moreso than the average domestic born citizen. The problem is that we have had successive governments underinvest in infrastructure and state, all the while blaming immigrants for their own failings.
Landlords talking about anyone pulling the ladder up behind them is the peak of irony. They're actively preventing people from owning their own homes with the dual prong attack of driving house prices up and using rents to drain bank accounts and prevent saving for a deposit. Landlords need to shut up. I'm so bored of the constant victim mentality, they're not victims of anything they're perpetrators of crimes against humanity.
How is labour in any way being supportive of trans people? Not only was he using bigoted rhetoric, but he applied it to completely the wrong situation.
Renting is not capitalism, landlords are not entrepreneurs. It's feudalism. The clue is in the name landlord. These extremely mediocre people benefiting from cheap housing when they were working age have little justification to act so superior.
Not sure I can see much difference between capitalism and feudalism to be honest. One's a system where the powerful maintain their power generationally by inheriting parent to child, and feudalism is the same but with more private armies
There’s some really interesting literature on Neofeudalism. A lot of it focuses on infrastructural rentiers like Google or amazon, but some touch upon contemporary landlords. I myself am not convinced by the concept entirely, , I think that it is reductive to give contemporary capitalism a moniker of feudal. What we have is something that is exploitative by the position of increasing surplus value. Or more simply increasing power through wealth. For the feudal lord, power is exerted for the purposes of sustaining, and or expanding, power, money was extorted as a subsidiary and used to obtain further power, mercenaries defences etc. The similarities are there If you look for them, but I feel that if one gets stuck in the weeds of feudalism and not see the big picture- much like how contemporary Vulgar Marxists look at the economic situation and map Marx one to one like Das Capital is a holy text. What we have is complex AF, and is made to be so for general misunderstand.
I’m 43 and became a landlord at 29. Cheap housing during working age was not something I can claim to have benefitted from? Except my first house in 2003, which was my home for 7 years. In a city 160 miles from where I lived originally, in an area with raids for drugs and domestic violence. I worked hard and saved hard to afford it and subsequently properties.
How to be a landlord. Buy a house 30 years ago when they were affordable and a morgage was 3% Work one job in a single income household and pay off that affordable morgage in 15 years. Buy a second home using the first home as collateral on a 2% bank loan made up of other people's savings, over leveraged by the bank to create fake money so more loans can be given, causing a bubble Charge the renter 150%+ of the morgage payment because you have to make profit right??!?! Inflation goes up ever year by 3% Increase rent every year by 10%+ to stay ahead of inflation and because you love free money for doing nothing Treat renters like scum, don't fix things, threaten renters with eviction of they bother you about anything or they try to exercise their rights. Buy more homes using the previous homes as collateral even though you haven't paid off the morgages but these loans are 5% with teaser rates Housing bubble bursts Overleveraged morgages you can't afford start to balloon Increase rent by 50/100/200% per year Cry about how hard it is to be a landlord
Yeah… some might say to invest now then you’ll be the rich landlord in 30 years… except… no… this trend of 15x house prices can’t continue… with wages stagnant, there will be no one able to afford housing anymore… the bubble will burst and people buying houses now will have a house worth at best what it is currently worth or a crashed price… boomers and gen x’ers just ignore how fucking lucky they were, always whine about their problems of the day… yet ignore the massive problems of today for the young, just to say… ‘yeah but you’ve got iPhones now so…’
30 years ago mortgage was 10 to 15 percent , the only benefit was deposit was easier to save up for , pay back was no difference as now , house price growth due to 10 million more people last 10 years , more single mums , more divorce and people living a few years longer
I'm a landlord, 2 flats locally. Some thoughts... No I don't work hard - occasionally there is a spurt but it's not that often. Tax is fine - there are disincentives which prioritise owner occupier as it should be. The easy access to landlord finance and the ability to leverage has always created an unfair advantage but that is now changing. More regulations are fine - bring more on. Homes should be safe, a good standard and not cost a fortune to run. The main problem is there aren't enough homes - rent or buy the number of people to the number of properties isnt right. I can get 40-50 people enquire about a flat. Fix the supply and everything sorts itself out, but you wont fix the supply if you rely on just the handful of house builders who restrict supply. There is always a need for private rented accomodation - not everyone is in the stage of life where they are looking to buy. Renting out housing is not the same as running a business as it doesnt generate productivity for the economy - tax should be different. And the budget hasn't hit any of the aspirational nonsense talked about by some of these idiots - its gone after the super rich land bankers avoiding IHT, and CGT on non residential property so doesn't impact landlords. Stamp duty increase on buy to lets is marginal - i'd put it to 10%. Is it morally right to invest in residential property? Well there does need to be private landlords but greed needs to be capped, standards enforced and the benefits of wider society looked after compared to the few.
While I agree that keeping houses safe and working should be a given, I have a couple of questions. How would you fix the supply? Would 10% stamp duty help that? Would increasing tax on rentals? Are you also saying any company that rents out assets isn't a business, what about car and van hire, even PCP, there's equipment hire, even renting a film off amazon prime. They all buy an asset and then rent it out, the asset is produced in the first place like an house is built. What about software as a service, write it once and then rent it out many times.
@@andrewmark2783 Yes, this was the case in the days of low interest rates and pre the tax laws but that is changing now. 5% stamp duty, higher interest rates and the inability to offset that finance as a cost on tax returns means the balance has been pushed more in favour of owner occupiers but this naturally will take time to be noticeable as landlords tend to sell up at the end of mortgage terms. But we don't have enough homes for those looking to buy, nor those looking to rent. Going after landlords even more won't increase the critical supply issue even if some landlords deserve it. But if you increase supply it naturally drives out the worst landlords because they have to compete in order to get a tenant.
@@kujouk Housing is a basic human need so we shouldn't compare with car rental, tool hire etc. And none of those have a finite supply. Software entirely different again - developing this is a productive rather than rent seeking activity, and takes a lot of risk - I speak from experience! Supply - lots of empty houses (700k in England) so I'd use the tax system to stop overseas investors dumping cash in these and encourage others to release the assets. Same for land bankers who sit on land in hope it will grow in value. Revamp failing small towns high streets by turning them into residential. Invest in a modern social housing building programme knowing rents will be guaranteed so low risk but will kickstart supply - could be funded by private sector such as what John Lewis had planned. Have a grown up conversation about immigration - target this on those that can help us build. 10% stamp duty won't help supply but it would shift the balance towards owner occupiers rather than landlords. I don't think we need more tax on landlords now - enough is in the system that means we should start seeing that balance shift, it's just it takes time for that to flow through and with the lack of supply people can't see any difference. The argument some landlords have that it takes away supply is flawed if they sell - those houses don't sit empty. None of this will be sold overnight but the sooner something starts the better - more than a decade of doing nothing on this.
it's remarkable that they're managing to spend 80+ hours a week managing their property, when I own my own home and the amount of management it requires, including cleaning, is about 30 minutes a week...
I'm a landlord (1 terrace house) and a self-employed joiner.. being a sole-trader is hard graft. I'm out of the house most of the day, I'm physically exhausted by the time I get home. I'm only 33 and my knees are starting to hurt. I get contacted at all hours in the night regarding work, and spend most evenings and weekends doing quotes, invoices etc.. For the rental property, I text the tenant a couple months ago to organise the gas safety cert. The last time I heard from him was the year before that to do the same thing. It's not even work, never mind HARD work. These landlords probably can't remember what work feels like..
Government needs to shift from taxing income to taxing assets, until that happens we will live in an unequal society full of stuck up pricks like this.
It's a nice idea but in practice it would be very difficult to implement because the value of assets isn't typically realised until they are sold/bought.
@@andrewmark2783 Land and housing is the easiest to track down as it is all on the register and average values are known well. Stocks are all tracked, government doesn't always have to collect taxes in the form of currency.
@@saucysaucysauce2546 land and housing is not "all on the register". Nor is it periodically valued, save when it is bought and sold as I said in my previous comment. This is why council tax has been similarly problematic and valuations haven't been reassessed since 1991.
@@andrewmark2783 have you ever bought a property? They literally put who owns the property on the register, every single time. Council tax is problematic, because the council system is a system that easily corrupted, you aren't going to get briberies if you tax the shit out of the people that can afford bribery. But hey, you can find a million excuses to keep an old stagnant system, that only creates a class of useless hoarders, sure it is stable for a while, but it will pop just like every other economic bubble, better pop it early than later.
I’ve been an estate agent for years and I can tell you now, there is no landlord putting in 70-80 hours a week. What a load of tosh. If, and that’s a big if, they work 5-10 hours a week, they’ve got a bodged property. I bet half of there time is penny pinching every single cost at the detriment to the property and ultimately the tenant.
.....but, but, but I have to replace the fridge or clapped out washing machine if it goes kaput! I shelled out £322 three years ago on a tax deductable cooker.
Yes indeed. All three of my kids rent. Quite soon I’d like to think we can help them out with a mortgage but all three of them are much older than I was when I managed to buy my house.
"Yes. Someone else is buying you a house." but are they, as pointed out, most buy to lets are on interest only so who actually owns it at the end of the mortgage? Is the landlord just basically leasing the house from the mortgage company?
@BikeTipsUK yeah whenever I contacted my letting agent they always said they couldn't get in contact with the landleach as he was on a cruise. Good to know where my money was going.
This is what the tories have been doing for 14 years, accusing public sector workers of being lazy, the newspaper print it week after week. Labour come in and say the same thing about landlords and suddenly landlords are hard working people that provide a service out of the goodness of their hearts and gold shoots out there ***. Where was this defence of striking doctors and nurses
Just all bull. They wouldn't do it if it was not lucrative. One of them said it's capital risk, actually it's less risk than other investments. Property prices really go down and when do don't take long to recover unlike the stock market.
@@David-bi6lf That's true, which is why my pension is in property, it's simply safer,.I do wonder why, as a landlord, I appear to be the scum of the earth, what about housing associations? Chief exec on average of £90k with the highest on £177k, are they productive?, I don't know any landlord earning anywhere near that 🤣 but it appears all landlords do. I know what hardship is, I sometimes have to fill up the rolls in supermarkets. I park the rolls at my mansion and in the garage at the weeks when I'm on the yacht. My everyday car is a lambo which has an automatic cigar roller in the centre console, It's quite tight in the lambo as I have to take the butler with me to light the cigars and also press the buttons for the heated seats, he also moves the indicators for me as well. I clean my cars not with water but with tears of the working people, they pay much more tax than I do as I'm a non dom in Monaco, I do live there most of the time as the yacht is registered there..
@@kujouk I stopped reading at the point where you suggested landlords should be paid the same as a CEO. I can't read any further as I keep rolling over laughing at the absolute ridiculousness of it 🤣
I've met my landlord once in 6 years. Hes grand, never put rent up on me but outside of the maybe 1 or 2 calls we have a year about stuff that needs fixing. Hes had nothing to do here for 7.2k a year.
Home ownership is a con, you don't need to own a house to live in it, Most of Eurpope rent their houses at 1/3-1/2 the cost of a mortgage. (through housing associations) I am buying an ex-council house, I would have preferred it if I could be here in a council house! The council owned houses have all had new roofs, windows & heating! I can barely afford my mortgage with the interest rates and my roof is on the brink of collapse! 🤷
I would love to see any one of these landlords doing just one day's hard work in a care home or an in-patient psychiatric ward. Minimum wage, 12-hour shifts. And their tenants can swap lives with them for the day. I think that would make great TV. Maybe us tenants would learn what hard work really looks like?
Yes, all landlords are born with silver spoons in their gobs and never have had a job at all, thety just don't understand working people do they?, I've tarmaced roads, valated cars, worked in factories, worked on piecework where there was no minimum wage and I was paid for each item, I've done a lot of jobs that people look down on these days.
There is an agency in our town that runs 100 properties (student town). The owner has two members of staff and all three work full time including running a reception, thats all it takes.
@@anonymousf7byyj landlords are economic parasites that take money out of the economy. Shop owners and restauranteurs form part of a functional economy, they are not the same.
@@anonymousf7byyj Well yeah, but they sell something I'm not capable of getting or producing myself. Landlords sell me something that I only can't get because they've bought up all the supply and pushed priced out of my reach. Like a ticket scalper buying up all the Taylor Swift tickets and then claiming to be providing them when they sell them on for twice the price. There will always be people who need the flexibility of renting and people who can provide that service. But nowadays, we don't have that. We have people being forced into buying that service through lack of other options, in large part because of the actions of the people providing that service.
"Hes alright for the super rich, hes not looking after the normal people, run of the mill, ordinary." "How bigs your portfolio?" "Errr 4" Your not normal or ordinary run of the mill, you are super rich.
1:16 - "Not to take from the state, but make your own" So, taking property away from other people and getting the money other people make? Hypocrisy really gets around.
There was a time when being a landlord made you a fantastic return. That's why they feel so aggrieved that they are having to pay their way a bit more now. Many landlords do literally nothing and let a management company do everything.
Why is it every property I’ve ever rented sent qualified tradesman when an issue arises? Everyone of them were managed via a letting agent, never once met a landlord in nearly 15 years of renting in London. Yet I’m led to believe that these landlords make pennies on the pound, barely scraping by, blah blah blah.
@glowwurm9365 either that, or the same bloke turns up every time anything needs fixing, who tells you he's qualified to do all of it, but turns out he's actually the landlord's nephew/uncle and is only actually qualified in the Landlord Special 🩹
HMOs around my area means wacking a massive extension on back leaving the garden now the size of a shed. Halving the size of the living room and kitchen for another couple of bedrooms. Now because the extension on the back is the entire width of the house the lounge being in the middle of the house now has no outside walls and therefore no windows. Lucky I've not the privilege of going in one, just seen the floor plans and photos on right move. Have to fit as many bedrooms in as possible to rake in those profits. living room like a dentist waiting room. Bleak as f 😞
Funny how these people are supposedly stating how hard they work, but I didn't actually hear a single word about what exactly that work is. In fact the one guy stated he "knows" landlords that work 70-80 hours weeks (so not himself, just some ethereal metaphor of a person). How are they working 70-80 hour weeks? What is their day to day life asking of them? They say they are "maintaining properties". How? What does that entail. It's just empty buzzwords meaning 'I sometimes need to go and fix a leaky sink'. Maybe they should have invested in better quality houses if they are constantly "maintaining properties".
All four of the Landlords I had while living in England for just over 12 years where nothing more than crooks. One house had an open sewage pipe coming up into the kitchen. Which had been "safely" boxed in so nobody could see it. Another hadn't maintained the property in 40 years out side of the classic paint over the problem till you get a tenant, then refuse to fix it. Our last Landlord refused to fix the bathroom tiles that fell of the wall on day two and then tried to blame use for breaking his bathroom when we moved out. He also took two months to fix the boiler because he was waiting on a good deal. He also wanted to raise rent by 15%.
These people are a large part of the reason the majority of us will never make it onto the housing ladder. Reducing available homes to buy and pushing up the price. Racking up their retirement funds on the backs of the precariat. Working hard pulling up the ladder of privilege and thriving in the inequality gap.
I wonder what these landlords would say if they were asked if mothers should be considered as working people? They work full time, keep society thriving, working hard is an understatement
"We've had tenants with us for a long time, which I hope says something about what we do." What? You mean holding an essential aspect of life at ransom?
Or did a documentary following them for a few months to see the day-day work they do, I'm sure it will be completely comparable to a 10 hour Kitchen worker, a 12 hour warehouse operator or a 16 hour Nurse's shift.
@@Cashback13 how about lifeswap - get the landlord out doing some badly paid keyworker job while the tenant sits back and takes 30 to 50% of the a take home earnings.
It's hilarious that the couple who own 16 properties as a family business said they are constantly maintaining their properties while they're in the center of London in the middle of the afternoon in suits and formal clothes 😂 They look a lot different to every carpenter/builder/electrician/plumber I've ever met.
Remember, the majority of "workers" pensions, profit from holding properties paid one way or otherr by those workers (almost everyone is a in some respects profiting from "landlording"). Landlords should 100% be taxed the same as workers and be held to a fair standards, including inheritance.
What does a days work look like for you “maintaining my properties, looking after my family” Jesus dude, you round your tenants house everyday, dusting, hoovering, emptying the bins, weeding the gardens? If the pays so bad, and the hours so long why did you build up a portfolio of 16 homes?
As a trans woman, I am so fed up and beaten down with these statements of utter ignorance, that at the very least undermine, ridicule, and endanger us, based on untruths and a hurtful lack of awareness. And the lack of self awareness and vehemently self concern is blindingly nausseating.
you mean old people that mostly had nothing worked bloody hard invested that money wisely ? you mean those eh ?maybe you should give it a go and stop being a victim eh
@@GaryTaylor-gp2qc invested it wisely by pricing young people and families out of buying a home, then hiking up rent prices, crippling their ability to invest the same money they had when they were younger into properties several times more expensive than they used to be.
@@ando.niyuen sorry ando 10 million immigration last 20 years , 3 million last 4 years by the government has mainly done this not landlords , you are attacking the wrong people , it's not immigrants fault it's the government
They've had tenants with them for a long time so they must be doing something right.. from their own perspective yeah, preventing people from getting on the ladder themselves!
When you produce nothing but make billions in profit off the backs of workers, rents three times higher than the minimum wage in the economy, water, gas, etc. These bring workers into great poverty, make them dependent on food banks and other aid,, Although workers work hard😢
Rent in my city is about half of someone’s NET pay - maybe 55-60% if you’re on minimum wage If you own 5 or 6 properties you’d have to work a 100 hour week on minimum wage to compete if not more Somehow I don’t see landlords working 100 hour weeks My sister owned about 10 houses at one point and held a full time job - guess which one took up more of her time
'We have tenets that have been qith us for years we think that says something'. Yes it says you set the rent high enough that they can't save for a deposit but not too high that they had to be homeless. That's the key to being a successfull landlord.
Absolute rot that they are constantly working. Isn’t it funny that when they were asked, “What does a days work look like to you?” They can’t be clear about what exactly they do. Maintaining their properties? So are they saying that their properties are in such disrepair that they need work to be done every day? Who do they think they are fooling?
I love how when the landlord with 4 properties was asked how he spends his day he answered 'looking after my properties and my family '. So his tenants are really requiring 2 hours a day each several hundred days a year? The funny thing is, he probably genuinely believes he works every day.
Saying that Landlords work is an utter joke. Many of them have hardly done a hard days work in their life and probably inherited the properties from relatives who have passed away. I know tenants who are constantly trying to get landlords to maintain the properties they rent, then they get a patched up job.
Winston Churchill had quite a lot to say on the subject, it wasn’t very flattering towards the landlord, not that he blamed the individual, rather the system itself. Funny how the right neglect to mention this..
Always blows my mind that we’re so obsessed with property ‘investing’ in the UK. An entire generation so averse to the wonders of the stock market, which actually provides above inflation returns (unlike property) and can be completely tax free if done inside of an ISA. VS property; income or corporation taxed, huge debt leverage, massive interest rates, insurance / repair costs, and to top it all off a capital gains tax without inflation indexation (literally a tax on inflation gains!) Truly a terrible investment vehicle which often loses people money in real terms, but because ‘NuMbEr Got bIgGeR’ these fools continue to dump cash into the market creating the crazy speculative bubble we’ve seen in recent years, all for zero inflation adjusted capital returns and a tiny net rental income. Just because ‘NuMbEr GeT big’ doesn’t mean you’re an ‘investor’ if tax and inflation leave you worse off in real terms; I believe the correct term for that would be ‘fool’. There’s a huge lack of financial education in this country and young people / lower earners are having to foot the bill for this misguided ‘investment’ strategy. Such a damn shame. Rant over.
I love the way landlords consider themselves entrepreneurs - they're not building anything, they're not making anything, they're not creating anything. It's just an investment vehicle with bells on it.
Ya I’ve had 5 landlords in my life, never missed a rent payment and I am ocd about tidiness. No issues on my end but I can say only 1 of my landlords was worth a mention and he was an absolute diamond.
Entering middle age my wife didn't have a pension so we managed to put a total of £24k into rental properties starting in 1999. The four properties are now debt free, mortgages paid off courtesy of the tenants. The most important item of "work" is selecting the right tenants. We don't use a management agency. Properties are well maintained, with repairs carried out quickly when required. Rents are set at market rates, but never increased during a tenancy, tenants have stayed up to twelve years on the same rent. There is very little "work" to do, and if we employed an agent there would be even less, though resulting in less profit. We can now retire with a "pension" higher than my wife ever earned in her working life. We have not worked as landlords, we have been fortunate to have had a decent amount of capital available at a time that property prices were relatively low, and select good tenants. We have always been happy to pay taxes on our income. You only pay taxes if you are making a profit.
"it'll be another winter of discontent" 😂😂😂 The winter is discontent was an uprising by the working class. Given that the working class aren't really being targeted by this budget, that comparison is nonsense. Does this guy think landlords going on strike is going to bother people? No one would even notice
With some Tenants trying to get things fixed in their properties the landlord are practically on strike the amount of time it takes them to actually fix stuff.
Landlords, by definition, don't make their money by working. That's not to say that there is no work at all involved in what they do, but they make their money - again *by definition* - by charging rent on their capital assets. They do not charge for their work. They charge rent on their property, which is a return on a capital investment that they have made. It's a fundamentally different way of earning money, quite different from working. Whatever else we might disagree on, I think we should be clear about this one simple economic fact.
honestly, not all landlords are bad and it's a silly caricature. the issues arise when you have careless landlords; praying for 'passive' income, reluctant to provide a service, and hyper focused on matching market rates for an extra £2k a year here and there per annum (on top of their equity + previous profits). I think a lot don't know what they're getting into / are very over-leveraged.
The old guy complaining about VAT on private schools and pulling the ladder up after you... And then complaind about foreign aid and 'illegal migrstion' being from an immigrant family himself. Double standards where its OK for him to pull the ladder up after his needs are met?
The worst part is they think they've fought their corner well while looking like absolute bellends Im always on call, therefore I'm working - i would argue that means im not working until I'm called... "Daily maintenance" give me a break, anyone who has rented a property knows this is utter rubbish
I'm a landlord (just a 2nd home/flat that's rented out to someone). The work involved is: 1 hour visit a month (if tenant wants it) to discuss any issues with the property and then arranging plumbers/decorators/electricians if needed.
Anyone that tells you being a landlord is "hard work" is talking utter bollocks
I was going to say it's hardly a 40 hour a week job even if you have more than 1 property to manage. There's literally months that can go by without anything needing do and if stuff does need doing it's probably because they didn't fix everything in the property BEFORE they started renting it out. The guy who says his mate works 70/80 hours a week is talking rubbish, the only way that would happen is if they had multiple properties and they do all the repairs and work on the house literally on their own cause they are too tight to spend a few grand on a proper trades person to do a good job out of the thousands they get every month.
@@markh7457 You sound like a dream landlord. Mine says he will sort things out but is too mean to hire a professional and claims he will do it but he doesn’t. So I have no heating as he didn’t fix it (I bought oil fill radiator), I have no oven (he just went quiet about that - wouldn’t answer me) so I bought an air fryer, the bathroom is moldy due to cold, I could go on. He has managed to make sure he increased the rent by 25% this year, he was very organized about that.
@@chrisd5964 I'm not a landlord to make a profit. In fact, with the cost of maintaining things, ground rent, service charge, capital gains tax and mortgage, we only make £2,500 a year profit. That just goes to savings for when the flat inevitably needs something more major i.e. a new boiler.
Call me a champagne socialist but I don't believe that people should be able to make money for nothing.
I get more satisfaction from knowing that there's a small family living in a well maintained flat and doesn't have to worry about being scalped by a landlord.
If you think landlording is just work, then you are an idiot. You are rewarded for putting capital at risk, you did the work to get the deposit together 🤯
@@vvwalker7261 2 things:
1) This video is about what work Landlords do. The answer is very little
2) Capital isn't exactly at risk is it? How often do house prices go down at such a rapid amount that equity is then lost? Most landlords are on an interest only mortgage anyway which costs peanuts yet they charge their tenants as if they're paying a mortgage. If the housing market depreciates, the landlord isn't making a loss.
My landlord has worked so hard that the heating doesn’t work, the oven doesn’t work, the bathroom is damp and moldy and he’s put the rent up 25% this year alone. I thank him for his hard work.
If you treated the property as if it was yours or with consideration then the bathroom would not be mouldy and the heating and appliances would work.
@@elementalrainbow The property isn't theirs though. When the appliances break, you have to wait for the landlords ok to get someone in to fix them. When you tell them that the bathroom isn't properly ventilated, they shrug and do nothing. I contractually cannot make changes to this property as it isn't mine. We're at the mercy of our landlords. Acting as if it's a personal responsibility issue is either naive or stupid, take your pick.
@elementalrainbow why would they, they're paying for those to work and the place to not be moldy. That's what the rent Is for
So hard that mold doesn't grow itself 😂😂😂😂
@@elementalrainbowobviously an ignorant Tory
Say what you like about the budget but it's going to be a boom for manufacturers of the world's tiniest violins.
😂
I am financially ok, not rich but fairly comfortable, and agree, love seeing the wealthy cry about how hard it is. Try being a nurse who is a single mother working 60 hours a week and still has to use a foodbank. Millionaires moaning about increasing the minimum wage blows my mind. My business will lose out with NI (I pay all my staff above minimum wage anyway) and the decimation of the Buy To Let market the budget causes, I will suck it up an adapt. I think this was a great budget even though it 100% hurts me but I am a true patriot who believes in funding health and education so hopefully my children can benefit from what I had. In fact I would have gone further, we need a wealth tax and if the billionaires want to leave, bye, bye we don't want you here.
😂😂😂
@@leecourtney1225
We are a debt creating country not wealth creating. Kissing goodbye to wealth creators simply ensures continued debt for future generations.
The only landlord in this video that can see things through the correct eyes is ironically the chap who's of immigrant descent. And all the whingers are the white, old men. Boohoo.
For the record I'm a white man, just in case anyone tries to claim offence to me laughing at them crying their eyes out because they have to pay their fair share.
Landlords are NOT "entrepreneurs". Landlords invest in a non-productive asset. Entrepreneurs build a productive asset.
that guy in particular was so full of shit.
🤡
I'm not sure that's a useful distinction. At the end of the day both earn money through the investment of their capital, instead of selling their labour.
Listen you brokie
Get more money and then you can do the same, don’t hate them coz you ain’t them.
The “working people” tag probably isn’t helpful because you get clowns like the two towards the end claiming that having your phone switched on and occasionally calling out a plumber is hard work. Your definition is much better. They should have categorised it as something like productive and passive income
If being a landlord is work, then make them pay NI on their rental income.
O that's a shout
Absolutely agree, they'd look like absolute tools then
Oh wait they don't? isn't it taxed like every other sort of income? I am genuinely asking.
@AZIARGROUS it's subject to income tax. Salary income is subject to income tax and nic
Well they pay income tax and capital gainst tax, that is enough, anything else is just greedy for non financially literate idiots.
The complete lack of self-awareness some of these landlords are showing would give Liz Truss a run for her money.
"Making money and not taking from the state" - the entire rental market is subsidised by housing benefit because it's so overpriced.
The largest drain on the welfare state is housing benefit and universal credit. Paying private landlords and businesses that pay their employees poorly.
@@upsidedownnoise Incorrect. Pensions are the main drain on the welfare state by a long way.
Welfare spending can be broken down into different groups, including:
Old age: The largest group, accounting for 10.4% of GDP, and mainly relating to pension payments
Sickness and disability: The second largest group, accounting for 2.8% of GDP, and mainly representing social payments in cash or in kind
Family and children: Accounting for 1.9% of GDP
Survivors: Accounting for 1.5% of GDP, and mainly containing pension payments to survivors of a deceased insured person
Unemployment: Accounting for 1.2% of GDP
Housing: Accounting for 0.3% of GDP, and mainly comprising social protection payments to households to help with the cost of housing
Social exclusion: Accounting for 1.1% of GDP, and containing benefits to persons socially excluded, such as on low income, refugees, or suffering from substance abuse
@@upsidedownnoise "Paying private landlords and businesses that pay their employees poorly."
Ye olde "socialism for the rich".
Someone needs to grow my pie. Maybe you can have a slice when it's big enough.
Total rubbish
@@jjmstudiosKeep coping because its true.
rich folk upset they will be 0.5% less rich
They just jack the rent up as they think everyone else owes them a living.
I'm a landlord and don't mind paying more tax, however although I don't have debt or need to work, I wouldn't consider myself rich. @an1_uk - the government can't go too hard on landlords as they completely understand that if they do, we'll raise the rents and they'll have to increase the housing benefits budget.
They’re always the first to talk about bootstraps when it comes to actual working class… but as soon as they’re having to make it work it’s like ‘fucking stealing from the hard working landlord… how am I going to afford to run my 3 range rovers now?’
@@an1_uk and why don't they?
@@moonfrog9878 that's a poor landlord with only three, I have seven
The same guy talks of Labour “pulling the ladder up behind them” then continues to say he is descendent of immigrants and starts to suggest immigration is now an issue.
Couldn’t make this up. Absolutely detached from reality.
I agree with him to some extent he specifically said illegal immigration, which is a major problem, unfortunately people are too scared to be honest that illegal immigration is really bad as it's just letting anyone in, legal migration is fine as people have been vetted and the government can control it and decide what skills they need to grow the economy.
@thenoodlebuddy you can't currently apply for asylum without arriving here illegally.
Even legitimate immigration is quite a problem as it has not been resourced properly - with sufficient housing, healthcare etc. The millions we have given a new home too have put extra burdens on existing resources. Not their fault, but our successive governments (including New Labour’s).
@@sebastianohalloran9093 Actually data shows that on average immigrants have a net economic benefit to the country versus what they "cost" through public services, housing, education etc. Moreso than the average domestic born citizen. The problem is that we have had successive governments underinvest in infrastructure and state, all the while blaming immigrants for their own failings.
Landlords talking about anyone pulling the ladder up behind them is the peak of irony. They're actively preventing people from owning their own homes with the dual prong attack of driving house prices up and using rents to drain bank accounts and prevent saving for a deposit.
Landlords need to shut up. I'm so bored of the constant victim mentality, they're not victims of anything they're perpetrators of crimes against humanity.
My dads a landlord and he spends most of his time in the pub 😂😂
My dads a landlord and when he had 8 properties would have to visit one of them every couple of months... a real fucking chore.
I would too with a son like you…… im sorry, I couldn’t help it.
Good for him, at least he’s not pretending it’s hard work…
@@glowwurm9365he might be one of these clowns for all we know
@@Believe-you-me- Only a weak man allows his child to send him drinking hahaha you child
"Striving", "Difference between man and a woman", "Politics of Envy" and "Blob". Really hit Daily Mail/GB News Bingo there.
Don't forget Nation of Shopkeepers and a random comparison to the Poll Tax?
It was a marvellous combination wasn’t it?
Can't forget "champagne socialist" either
Oh god, first guy literally starts with the "Can't tell difference between a man and a woman" schtick... Can they hear themselves?
Can they hear others repeating the same scripted populist lines in other countries? No, because nationalists prefer to isolate.
He is reflecting an actual reality that is kier Starmer. Reality hurts
@@JackxJewell Aha, the cultists have arrived. Come on in lad.
@@JackxJewell when all is lost go culture war . is that lee anderson .
How is labour in any way being supportive of trans people? Not only was he using bigoted rhetoric, but he applied it to completely the wrong situation.
Renting is not capitalism, landlords are not entrepreneurs. It's feudalism. The clue is in the name landlord. These extremely mediocre people benefiting from cheap housing when they were working age have little justification to act so superior.
Not sure I can see much difference between capitalism and feudalism to be honest. One's a system where the powerful maintain their power generationally by inheriting parent to child, and feudalism is the same but with more private armies
With the landlords though it involves them hoovering up properties driving up prices further entrapping their victims I mean tenants
There’s some really interesting literature on Neofeudalism. A lot of it focuses on infrastructural rentiers like Google or amazon, but some touch upon contemporary landlords. I myself am not convinced by the concept entirely, , I think that it is reductive to give contemporary capitalism a moniker of feudal.
What we have is something that is exploitative by the position of increasing surplus value. Or more simply increasing power through wealth. For the feudal lord, power is exerted for the purposes of sustaining, and or expanding, power, money was extorted as a subsidiary and used to obtain further power, mercenaries defences etc.
The similarities are there If you look for them, but I feel that if one gets stuck in the weeds of feudalism and not see the big picture- much like how contemporary Vulgar Marxists look at the economic situation and map Marx one to one like Das Capital is a holy text.
What we have is complex AF, and is made to be so for general misunderstand.
I’m 43 and became a landlord at 29. Cheap housing during working age was not something I can claim to have benefitted from? Except my first house in 2003, which was my home for 7 years. In a city 160 miles from where I lived originally, in an area with raids for drugs and domestic violence. I worked hard and saved hard to afford it and subsequently properties.
Why do pubs have landlords then?
"Maintaining my properties. Daily." 😂😂😂😂😂😂😂😂😂😂
logged a modification required by law for the property i am in back in April, they're coming in Feb. Daily my ass.
Like in old games, he walks to the building and hits it with a hammer for 8 hours, and it looks better than in the morning xD
If you have to maintain it daily you got a shit house or a shit tenant
his tenants need to get a restraining order!
How to be a landlord.
Buy a house 30 years ago when they were affordable and a morgage was 3%
Work one job in a single income household and pay off that affordable morgage in 15 years.
Buy a second home using the first home as collateral on a 2% bank loan made up of other people's savings, over leveraged by the bank to create fake money so more loans can be given, causing a bubble
Charge the renter 150%+ of the morgage payment because you have to make profit right??!?!
Inflation goes up ever year by 3%
Increase rent every year by 10%+ to stay ahead of inflation and because you love free money for doing nothing
Treat renters like scum, don't fix things, threaten renters with eviction of they bother you about anything or they try to exercise their rights.
Buy more homes using the previous homes as collateral even though you haven't paid off the morgages but these loans are 5% with teaser rates
Housing bubble bursts
Overleveraged morgages you can't afford start to balloon
Increase rent by 50/100/200% per year
Cry about how hard it is to be a landlord
Yeah… some might say to invest now then you’ll be the rich landlord in 30 years… except… no… this trend of 15x house prices can’t continue… with wages stagnant, there will be no one able to afford housing anymore… the bubble will burst and people buying houses now will have a house worth at best what it is currently worth or a crashed price… boomers and gen x’ers just ignore how fucking lucky they were, always whine about their problems of the day… yet ignore the massive problems of today for the young, just to say… ‘yeah but you’ve got iPhones now so…’
30 years ago mortgage was 10 to 15 percent , the only benefit was deposit was easier to save up for , pay back was no difference as now , house price growth due to 10 million more people last 10 years , more single mums , more divorce and people living a few years longer
I'm a landlord, 2 flats locally. Some thoughts...
No I don't work hard - occasionally there is a spurt but it's not that often.
Tax is fine - there are disincentives which prioritise owner occupier as it should be. The easy access to landlord finance and the ability to leverage has always created an unfair advantage but that is now changing.
More regulations are fine - bring more on. Homes should be safe, a good standard and not cost a fortune to run.
The main problem is there aren't enough homes - rent or buy the number of people to the number of properties isnt right. I can get 40-50 people enquire about a flat. Fix the supply and everything sorts itself out, but you wont fix the supply if you rely on just the handful of house builders who restrict supply.
There is always a need for private rented accomodation - not everyone is in the stage of life where they are looking to buy.
Renting out housing is not the same as running a business as it doesnt generate productivity for the economy - tax should be different.
And the budget hasn't hit any of the aspirational nonsense talked about by some of these idiots - its gone after the super rich land bankers avoiding IHT, and CGT on non residential property so doesn't impact landlords.
Stamp duty increase on buy to lets is marginal - i'd put it to 10%.
Is it morally right to invest in residential property? Well there does need to be private landlords but greed needs to be capped, standards enforced and the benefits of wider society looked after compared to the few.
Amen brother
While I agree that keeping houses safe and working should be a given, I have a couple of questions.
How would you fix the supply?
Would 10% stamp duty help that?
Would increasing tax on rentals?
Are you also saying any company that rents out assets isn't a business, what about car and van hire, even PCP, there's equipment hire, even renting a film off amazon prime. They all buy an asset and then rent it out, the asset is produced in the first place like an house is built. What about software as a service, write it once and then rent it out many times.
The main problem is that there is a supply issue but landlords snatching up properties to rent them out is also a big part of the problem.
@@andrewmark2783 Yes, this was the case in the days of low interest rates and pre the tax laws but that is changing now. 5% stamp duty, higher interest rates and the inability to offset that finance as a cost on tax returns means the balance has been pushed more in favour of owner occupiers but this naturally will take time to be noticeable as landlords tend to sell up at the end of mortgage terms.
But we don't have enough homes for those looking to buy, nor those looking to rent. Going after landlords even more won't increase the critical supply issue even if some landlords deserve it. But if you increase supply it naturally drives out the worst landlords because they have to compete in order to get a tenant.
@@kujouk Housing is a basic human need so we shouldn't compare with car rental, tool hire etc. And none of those have a finite supply. Software entirely different again - developing this is a productive rather than rent seeking activity, and takes a lot of risk - I speak from experience!
Supply - lots of empty houses (700k in England) so I'd use the tax system to stop overseas investors dumping cash in these and encourage others to release the assets. Same for land bankers who sit on land in hope it will grow in value. Revamp failing small towns high streets by turning them into residential. Invest in a modern social housing building programme knowing rents will be guaranteed so low risk but will kickstart supply - could be funded by private sector such as what John Lewis had planned. Have a grown up conversation about immigration - target this on those that can help us build.
10% stamp duty won't help supply but it would shift the balance towards owner occupiers rather than landlords.
I don't think we need more tax on landlords now - enough is in the system that means we should start seeing that balance shift, it's just it takes time for that to flow through and with the lack of supply people can't see any difference. The argument some landlords have that it takes away supply is flawed if they sell - those houses don't sit empty.
None of this will be sold overnight but the sooner something starts the better - more than a decade of doing nothing on this.
it's remarkable that they're managing to spend 80+ hours a week managing their property, when I own my own home and the amount of management it requires, including cleaning, is about 30 minutes a week...
I'm a landlord (1 terrace house) and a self-employed joiner.. being a sole-trader is hard graft. I'm out of the house most of the day, I'm physically exhausted by the time I get home. I'm only 33 and my knees are starting to hurt. I get contacted at all hours in the night regarding work, and spend most evenings and weekends doing quotes, invoices etc..
For the rental property, I text the tenant a couple months ago to organise the gas safety cert. The last time I heard from him was the year before that to do the same thing. It's not even work, never mind HARD work. These landlords probably can't remember what work feels like..
A landlord calling anyone a thief
He thought he was edgy with that one
government policy of mass immigration , supply and demand , many new landlords have paid high price for property too don't forget
Government needs to shift from taxing income to taxing assets, until that happens we will live in an unequal society full of stuck up pricks like this.
It's a nice idea but in practice it would be very difficult to implement because the value of assets isn't typically realised until they are sold/bought.
@@andrewmark2783 Land and housing is the easiest to track down as it is all on the register and average values are known well. Stocks are all tracked, government doesn't always have to collect taxes in the form of currency.
@@saucysaucysauce2546 land and housing is not "all on the register". Nor is it periodically valued, save when it is bought and sold as I said in my previous comment. This is why council tax has been similarly problematic and valuations haven't been reassessed since 1991.
yea communism is great ain't it except all innovation and entrepreneurs can't exist , we all get poor and miserable not just people who can't
@@andrewmark2783 have you ever bought a property? They literally put who owns the property on the register, every single time. Council tax is problematic, because the council system is a system that easily corrupted, you aren't going to get briberies if you tax the shit out of the people that can afford bribery. But hey, you can find a million excuses to keep an old stagnant system, that only creates a class of useless hoarders, sure it is stable for a while, but it will pop just like every other economic bubble, better pop it early than later.
I’ve been an estate agent for years and I can tell you now, there is no landlord putting in 70-80 hours a week. What a load of tosh. If, and that’s a big if, they work 5-10 hours a week, they’ve got a bodged property. I bet half of there time is penny pinching every single cost at the detriment to the property and ultimately the tenant.
“They’re a pension Avenue for me later on”
Yes. Someone else is buying you a house.
.....but, but, but I have to replace the fridge or clapped out washing machine if it goes kaput! I shelled out £322 three years ago on a tax deductable cooker.
Yes indeed. All three of my kids rent. Quite soon I’d like to think we can help them out with a mortgage but all three of them are much older than I was when I managed to buy my house.
"Yes. Someone else is buying you a house." but are they, as pointed out, most buy to lets are on interest only so who actually owns it at the end of the mortgage? Is the landlord just basically leasing the house from the mortgage company?
You either have to bu,y, or extend the mortgag,or sell. If you can't do any of those the mortgage company will foreclose. @kujouk
@ whatever happens the renter will have nothing to show for all that money spent.
I know many landlords who go on holiday constantly and pay a ''manager'' to look after the houses. They visit properties once a year or less! :)
@BikeTipsUK yeah whenever I contacted my letting agent they always said they couldn't get in contact with the landleach as he was on a cruise. Good to know where my money was going.
You don't know me then. Holiday 🤣 I have 28 days off a year but I do pay a manager, maybe I need to speak to your landlord mates..
yea anyone done well mate i hate em too
@@an1_uk do you mean they go on a boat with the public? Don't they have their own yacht, how poor are those landlords.
This is what the tories have been doing for 14 years, accusing public sector workers of being lazy, the newspaper print it week after week. Labour come in and say the same thing about landlords and suddenly landlords are hard working people that provide a service out of the goodness of their hearts and gold shoots out there ***. Where was this defence of striking doctors and nurses
“Taxed to hell or high water” or significantly less than someone paying PAYE.
Just all bull. They wouldn't do it if it was not lucrative. One of them said it's capital risk, actually it's less risk than other investments. Property prices really go down and when do don't take long to recover unlike the stock market.
@@David-bi6lf That's true, which is why my pension is in property, it's simply safer,.I do wonder why, as a landlord, I appear to be the scum of the earth, what about housing associations? Chief exec on average of £90k with the highest on £177k, are they productive?, I don't know any landlord earning anywhere near that 🤣 but it appears all landlords do.
I know what hardship is, I sometimes have to fill up the rolls in supermarkets. I park the rolls at my mansion and in the garage at the weeks when I'm on the yacht. My everyday car is a lambo which has an automatic cigar roller in the centre console, It's quite tight in the lambo as I have to take the butler with me to light the cigars and also press the buttons for the heated seats, he also moves the indicators for me as well. I clean my cars not with water but with tears of the working people, they pay much more tax than I do as I'm a non dom in Monaco, I do live there most of the time as the yacht is registered there..
@@kujouk I stopped reading at the point where you suggested landlords should be paid the same as a CEO. I can't read any further as I keep rolling over laughing at the absolute ridiculousness of it 🤣
@David-bi6lf but aren't they landlords? Equal pay for equal work, works for me.
@@kujouk get a proper job mate. See what real work is like.
I've met my landlord once in 6 years. Hes grand, never put rent up on me but outside of the maybe 1 or 2 calls we have a year about stuff that needs fixing. Hes had nothing to do here for 7.2k a year.
And then something happens that needs large investment. Risk is risk.
@dolleywhite4438 are we considering risk "hard work" now?
Their reaction to being asked what they do daily was quite funny, trying to make it sound like being a landlord requires doing something every day.
Most aspirational people who are still working, aspire to own their home; not…..everyone else’s.
Home ownership is a con, you don't need to own a house to live in it,
Most of Eurpope rent their houses at 1/3-1/2 the cost of a mortgage. (through housing associations)
I am buying an ex-council house, I would have preferred it if I could be here in a council house!
The council owned houses have all had new roofs, windows & heating!
I can barely afford my mortgage with the interest rates and my roof is on the brink of collapse!
🤷
Ed's laugh in the guy's face at 0:20 😂
3:50 hardly an original thought in this man's head. He sounds like someone asked ChatGPT to write his lines in Tabloidese
I would love to see any one of these landlords doing just one day's hard work in a care home or an in-patient psychiatric ward. Minimum wage, 12-hour shifts. And their tenants can swap lives with them for the day. I think that would make great TV. Maybe us tenants would learn what hard work really looks like?
So if your working man inherited his parents house is he now an evil landlord?
@user-ue6iv2rd1n who said evil?
@@gertrudert Heavily implied, and a lot of landlords have a day job anyway.
Yes, all landlords are born with silver spoons in their gobs and never have had a job at all, thety just don't understand working people do they?, I've tarmaced roads, valated cars, worked in factories, worked on piecework where there was no minimum wage and I was paid for each item, I've done a lot of jobs that people look down on these days.
" He don't make nothing, he don't do nothing" Describes landlords perfectly tbh
"This budget is the equivalent of Thatcher's poll tax" made me laugh out loud.
There is an agency in our town that runs 100 properties (student town). The owner has two members of staff and all three work full time including running a reception, thats all it takes.
I've lived in a rented property for six years and never met my landlord. Occasionally a plumber turns up for a boiler check. Landlords have it easy.
If your tenent is paying your mortgauge then you are stealing their abilaties to buy their own homes.
You pay someone’s mortgage whenever you visit a shop or restaurant
@@anonymousf7byyj landlords are economic parasites that take money out of the economy. Shop owners and restauranteurs form part of a functional economy, they are not the same.
@@anonymousf7byyj Well yeah, but they sell something I'm not capable of getting or producing myself. Landlords sell me something that I only can't get because they've bought up all the supply and pushed priced out of my reach. Like a ticket scalper buying up all the Taylor Swift tickets and then claiming to be providing them when they sell them on for twice the price. There will always be people who need the flexibility of renting and people who can provide that service. But nowadays, we don't have that. We have people being forced into buying that service through lack of other options, in large part because of the actions of the people providing that service.
And the land lord profits from the appreciation in value of the asset the tenant has paid for.
@@anonymousf7byyj
The cost of visiting a shop or a resarauant dosn't come to £1000 a month unless you are a landlord or an TORY MP.
"Hes alright for the super rich, hes not looking after the normal people, run of the mill, ordinary."
"How bigs your portfolio?"
"Errr 4"
Your not normal or ordinary run of the mill, you are super rich.
Lol, your definition of super rich is wild then. Having 4 properties does not make you super rich...
@@MrSkorm I wouldn't say super rich as I consider "rich" to be liquid i.e. money in the bank.
I'd consider them to be wealthy
As noted, that isn't super rich, but it's wealthy. He can afford some extra tax.
@@craigbeesley9601Does depend on where his properties are though doesn't it. If they're all in central London then he could be super rich 😂
@@jamieh4357 true
1:16 - "Not to take from the state, but make your own"
So, taking property away from other people and getting the money other people make?
Hypocrisy really gets around.
The guy with one property who says he works everyday on the property...I'm worried for their tenants, wtf is he doing there every day?!
There was a time when being a landlord made you a fantastic return. That's why they feel so aggrieved that they are having to pay their way a bit more now. Many landlords do literally nothing and let a management company do everything.
I am convinced landlords see themselves as house builders, as opposed to house buyers. In these people's minds, the legit create houses outta thin air
"What does a day's work look like to you?"
"Hard to say really..." i.e. I do nothing most days so couldn't really tell you mate
Why is it every property I’ve ever rented sent qualified tradesman when an issue arises? Everyone of them were managed via a letting agent, never once met a landlord in nearly 15 years of renting in London.
Yet I’m led to believe that these landlords make pennies on the pound, barely scraping by, blah blah blah.
@glowwurm9365 either that, or the same bloke turns up every time anything needs fixing, who tells you he's qualified to do all of it, but turns out he's actually the landlord's nephew/uncle and is only actually qualified in the Landlord Special 🩹
The guy who said he's a decent landlord then says he owns a HMO wow just wow.
HMO doesn’t mean it’s a dive. Though I don’t like them personally because they’re usually converted family homes.
My thought exactly
HMOs around my area means wacking a massive extension on back leaving the garden now the size of a shed. Halving the size of the living room and kitchen for another couple of bedrooms. Now because the extension on the back is the entire width of the house the lounge being in the middle of the house now has no outside walls and therefore no windows. Lucky I've not the privilege of going in one, just seen the floor plans and photos on right move. Have to fit as many bedrooms in as possible to rake in those profits. living room like a dentist waiting room. Bleak as f 😞
@ yep!
So glad to see hard workers paying their NATIONAL INSURANCE and CGT at INCOME TAX RATE..... and then they go silent.
I know many landlords who go on holiday constantly and pay a ''manager'' to look after the houses. They visit properties once a year or less! :)
@@BikeTipsUK One ex-landlord o mine was on the ski slopes more than Eddie the Eagle, could afford that but not decent maintenance of bedsit...
Funny how these people are supposedly stating how hard they work, but I didn't actually hear a single word about what exactly that work is. In fact the one guy stated he "knows" landlords that work 70-80 hours weeks (so not himself, just some ethereal metaphor of a person). How are they working 70-80 hour weeks? What is their day to day life asking of them?
They say they are "maintaining properties". How? What does that entail. It's just empty buzzwords meaning 'I sometimes need to go and fix a leaky sink'. Maybe they should have invested in better quality houses if they are constantly "maintaining properties".
My parents are landlords and have been to the house once in the last 3 years, the rent is also so cheap that the tenants asked them to put it up. 😂
Noticed none of them are maintaining their properties in the video, looks like their on a stroll.
Pretty sure this is from the conference earlier in the year, they were attending I think
"We work 24/7, always working, always" *Is milling around being interviewed for a lark*
All four of the Landlords I had while living in England for just over 12 years where nothing more than crooks. One house had an open sewage pipe coming up into the kitchen. Which had been "safely" boxed in so nobody could see it. Another hadn't maintained the property in 40 years out side of the classic paint over the problem till you get a tenant, then refuse to fix it. Our last Landlord refused to fix the bathroom tiles that fell of the wall on day two and then tried to blame use for breaking his bathroom when we moved out. He also took two months to fix the boiler because he was waiting on a good deal. He also wanted to raise rent by 15%.
These people are a large part of the reason the majority of us will never make it onto the housing ladder.
Reducing available homes to buy and pushing up the price.
Racking up their retirement funds on the backs of the precariat.
Working hard pulling up the ladder of privilege and thriving in the inequality gap.
If the government didn't let immigrants in there would be plenty of housing because the population is declining.
I wonder what these landlords would say if they were asked if mothers should be considered as working people? They work full time, keep society thriving, working hard is an understatement
Landlords aren’t working people. They’re sharks.
"We've had tenants with us for a long time, which I hope says something about what we do." What? You mean holding an essential aspect of life at ransom?
I would LOVE is someone tracked down the properties these people own to see the condition and talk to the tenants
Or did a documentary following them for a few months to see the day-day work they do, I'm sure it will be completely comparable to a 10 hour Kitchen worker, a 12 hour warehouse operator or a 16 hour Nurse's shift.
Unlikely the tenants would talk openly, no fault eviction still exists.
@@Cashback13 how about lifeswap - get the landlord out doing some badly paid keyworker job while the tenant sits back and takes 30 to 50% of the a take home earnings.
It's hilarious that the couple who own 16 properties as a family business said they are constantly maintaining their properties while they're in the center of London in the middle of the afternoon in suits and formal clothes 😂 They look a lot different to every carpenter/builder/electrician/plumber I've ever met.
"He doesnt help normal people like me"
How many properties do you own?
"4"
Ah yes the normal amount to own
And they say nurses have it tough 😢
Remember, the majority of "workers" pensions, profit from holding properties paid one way or otherr by those workers (almost everyone is a in some respects profiting from "landlording"). Landlords should 100% be taxed the same as workers and be held to a fair standards, including inheritance.
Won’t someone think of the poor overworked landlords
What does a days work look like for you “maintaining my properties, looking after my family”
Jesus dude, you round your tenants house everyday, dusting, hoovering, emptying the bins, weeding the gardens? If the pays so bad, and the hours so long why did you build up a portfolio of 16 homes?
As a trans woman, I am so fed up and beaten down with these statements of utter ignorance, that at the very least undermine, ridicule, and endanger us, based on untruths and a hurtful lack of awareness.
And the lack of self awareness and vehemently self concern is blindingly nausseating.
Old people with all the money moaning again. What a surprise.
Something for you young uns to look forward to then 🤣
you mean old people that mostly had nothing worked bloody hard invested that money wisely ? you mean those eh ?maybe you should give it a go and stop being a victim eh
@@GaryTaylor-gp2qc invested it wisely by pricing young people and families out of buying a home, then hiking up rent prices, crippling their ability to invest the same money they had when they were younger into properties several times more expensive than they used to be.
@@ando.niyuen sorry ando 10 million immigration last 20 years , 3 million last 4 years by the government has mainly done this not landlords , you are attacking the wrong people , it's not immigrants fault it's the government
2:03 16 properties! What absolute vultures. The guy can't even look ed in the face.
Oh it's divided between an unspecified number of family members so it's 'not as bad'
They've had tenants with them for a long time so they must be doing something right.. from their own perspective yeah, preventing people from getting on the ladder themselves!
The bloke was going to say 'hes alright for the superrich but not the rich' but couldn't bring himself to say it.
When you produce nothing but make billions in profit off the backs of workers, rents three times higher than the minimum wage in the economy, water, gas, etc. These bring workers into great poverty, make them dependent on food banks and other aid,, Although workers work hard😢
How far apart have different facets of society gone is actually mind bending. LOL.
Rent in my city is about half of someone’s NET pay - maybe 55-60% if you’re on minimum wage
If you own 5 or 6 properties you’d have to work a 100 hour week on minimum wage to compete if not more
Somehow I don’t see landlords working 100 hour weeks
My sister owned about 10 houses at one point and held a full time job - guess which one took up more of her time
Tax wealth and assets equally regardless of class and yes that includes you Charlie boy no inheritance tax Royals
@@Stuboy absolutely. Better still, strip them of their titles, wealth and assets and get them to fill out their Universal Credit claims.
It's funny how rich people have the same look of indifference and emptiness, just like politicians.
"He can't tell a man from a woman"
"I'm not a socialist"
Yeah I guessed that already buddy.
'We have tenets that have been qith us for years we think that says something'. Yes it says you set the rent high enough that they can't save for a deposit but not too high that they had to be homeless. That's the key to being a successfull landlord.
“Im a landlord, I work hard”
“Describe your average working week, what you actively do landlording Monday to Friday “
“Maintaining my properties “
“How exactly, doing what?”
The one single group in society i feel most sorry for in society are landlords.
Absolute rot that they are constantly working. Isn’t it funny that when they were asked, “What does a days work look like to you?” They can’t be clear about what exactly they do. Maintaining their properties? So are they saying that their properties are in such disrepair that they need work to be done every day? Who do they think they are fooling?
I love how when the landlord with 4 properties was asked how he spends his day he answered 'looking after my properties and my family '.
So his tenants are really requiring 2 hours a day each several hundred days a year?
The funny thing is, he probably genuinely believes he works every day.
There's occasionally a tap to fix, but mostly, it's an extremely easy life.
Saying that Landlords work is an utter joke. Many of them have hardly done a hard days work in their life and probably inherited the properties from relatives who have passed away. I know tenants who are constantly trying to get landlords to maintain the properties they rent, then they get a patched up job.
They've had it so easy that's why they are in the business. They've had it too easy for too long and got used to it. Time to pay the ferryman.
Winston Churchill had quite a lot to say on the subject, it wasn’t very flattering towards the landlord, not that he blamed the individual, rather the system itself. Funny how the right neglect to mention this..
Always blows my mind that we’re so obsessed with property ‘investing’ in the UK.
An entire generation so averse to the wonders of the stock market, which actually provides above inflation returns (unlike property) and can be completely tax free if done inside of an ISA.
VS property; income or corporation taxed, huge debt leverage, massive interest rates, insurance / repair costs, and to top it all off a capital gains tax without inflation indexation (literally a tax on inflation gains!)
Truly a terrible investment vehicle which often loses people money in real terms, but because ‘NuMbEr Got bIgGeR’ these fools continue to dump cash into the market creating the crazy speculative bubble we’ve seen in recent years, all for zero inflation adjusted capital returns and a tiny net rental income.
Just because ‘NuMbEr GeT big’ doesn’t mean you’re an ‘investor’ if tax and inflation leave you worse off in real terms; I believe the correct term for that would be ‘fool’.
There’s a huge lack of financial education in this country and young people / lower earners are having to foot the bill for this misguided ‘investment’ strategy. Such a damn shame.
Rant over.
their phones must be constantly ringing with the amount of calls to maintain their properties.
Crocodile tears
5:33 70/80 hours a week? Maybe they shouldn’t be a landlord if their properties are in such a state that they require that amount of maintenance?
How can anybody argue that a landlord doesn't work as hard as lets say a receptionist.
As of May 2023, 87 MPs were landlords and could have been earning as much as 2.2 million a year from rental income. Go figure!!
MEANS TEST THE STATE PENSION. IT'S A SAFETY NET NOT A LIFESTYLE CHOICE
It's paid for by NI, which we all pay through our working lives.
the fact that they think Starmer is a socialist 😂 shows a complete lack of awareness of what he’s sadly done to the labour party.
And people say landlords are out of touch!
Pulling the ladder up after you? Did Kier Starmer go to a private school?….. checks Wiki… no.
I love the way landlords consider themselves entrepreneurs - they're not building anything, they're not making anything, they're not creating anything. It's just an investment vehicle with bells on it.
Ya I’ve had 5 landlords in my life, never missed a rent payment and I am ocd about tidiness. No issues on my end but I can say only 1 of my landlords was worth a mention and he was an absolute diamond.
Entering middle age my wife didn't have a pension so we managed to put a total of £24k into rental properties starting in 1999. The four properties are now debt free, mortgages paid off courtesy of the tenants. The most important item of "work" is selecting the right tenants. We don't use a management agency. Properties are well maintained, with repairs carried out quickly when required. Rents are set at market rates, but never increased during a tenancy, tenants have stayed up to twelve years on the same rent. There is very little "work" to do, and if we employed an agent there would be even less, though resulting in less profit. We can now retire with a "pension" higher than my wife ever earned in her working life. We have not worked as landlords, we have been fortunate to have had a decent amount of capital available at a time that property prices were relatively low, and select good tenants.
We have always been happy to pay taxes on our income. You only pay taxes if you are making a profit.
If you're "working 80-hour weeks" as a landlord, you're probably shit at being a landlord.
"what did you make of this"
"immediate transphobia"
wow, its almost a shame to say it doesn't even shock me anymore
"it'll be another winter of discontent" 😂😂😂
The winter is discontent was an uprising by the working class. Given that the working class aren't really being targeted by this budget, that comparison is nonsense.
Does this guy think landlords going on strike is going to bother people? No one would even notice
With some Tenants trying to get things fixed in their properties the landlord are practically on strike the amount of time it takes them to actually fix stuff.
Landlords, by definition, don't make their money by working. That's not to say that there is no work at all involved in what they do, but they make their money - again *by definition* - by charging rent on their capital assets. They do not charge for their work. They charge rent on their property, which is a return on a capital investment that they have made. It's a fundamentally different way of earning money, quite different from working. Whatever else we might disagree on, I think we should be clear about this one simple economic fact.
honestly, not all landlords are bad and it's a silly caricature. the issues arise when you have careless landlords; praying for 'passive' income, reluctant to provide a service, and hyper focused on matching market rates for an extra £2k a year here and there per annum (on top of their equity + previous profits). I think a lot don't know what they're getting into / are very over-leveraged.
7:24 i can’t actually believe he’s just quoted Norman Tebbit.. i’m in disbelief at the ignorance of the man.
The old guy complaining about VAT on private schools and pulling the ladder up after you...
And then complaind about foreign aid and 'illegal migrstion' being from an immigrant family himself. Double standards where its OK for him to pull the ladder up after his needs are met?
The worst part is they think they've fought their corner well while looking like absolute bellends
Im always on call, therefore I'm working - i would argue that means im not working until I'm called... "Daily maintenance" give me a break, anyone who has rented a property knows this is utter rubbish