Is it still worth being a Landlord?

Home / Blogs / Is it still worth being a Landlord?

I have had plenty of conversations over the years with Landlords of all shapes and sizes. Landlords that I have admired, and some that I have not! Some that I have, and still work with, and some that I have refused to work with!

But despite my personal opinion, all Landlords are bound by the same regulations and rules when letting their property and all conversations that I tend to have with Landlords normally lead to the following points of the business:

The amount of regulation coming into the sector, the added cost of stamp duty for additional properties, the abolishment of mortgage interest relief over the next four years the list goes on and on.

To the point where a lot say to me is it worth all the hassle?

Then there is also this horrible stigma attached to saying you’re a Landlord.  With all of the negative media attention on the Rouge Lanlords – all of us good ones have been dumped in the same pot !

 

Now let’s be honest here, we are almost on par with the taxman on reputation and not far behind traffic wardens either!

 

Tenants are always saying to me “I pay too much in rent” or “my rent has gone up by so much” without the knowledge of what is being piled onto Landlords from the other side of the fence.

 

Tenants don’t normally look into this.  Managing agents are also guilty as they normally don’t explain why the rent has had to increase or what is happening within the sector.  They just send you a rent increase letter or ring you and tell you that your rent is going up!

 

So not only do we have to deal with the governments ever changing boundaries, we are also one of the most detested types of people out there. So why don’t we just sell up and find something else to invest our money in?

 

In the main with most Landlords I meet the answer is simple!

 

We have a passion for what we do and an absolute desire to help people!

 

Yes, you are reading this right, most Landlords that I know let out their property because of the satisfaction they get from helping people and giving families somewhere to live.

 

Ok, so you may get some who are in it PURELY for the money, but if you ask most people if they would do something that would cost them money, unless it was a hobby, or they got something back from it they would probably all say no and that also includes all Landlords.

 

In addition, if you look at the changes in the sector which have resulted in a decrease in all Landlords profitability, you are seeing a lot selling up and leaving.

 

Yet some of us are still battling on!!

 

The reason is we all love what we do.  No matter what happens we will react, change and adjust to all the new rules, regulations and changes that come in, to be able to continue to do the thing that we all love!

 

Just imagine what would happen to this country’s housing problems if all the private Landlords sold up and moved on? It doesn’t bear thinking about!!

 

So next time you see your Landlord – please don’t scowl, a smile however, would be nice!

Recent Posts
ELA 7 Blog headers dec 17-12