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| How much a month is your rent/mortgage |
| Less than �100 |
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21% |
[ 13 ] |
| Less than �200 |
|
8% |
[ 5 ] |
| Less than �400 |
|
18% |
[ 11 ] |
| Less than �600 |
|
21% |
[ 13 ] |
| Less than �800 |
|
11% |
[ 7 ] |
| Less than �1000 |
|
5% |
[ 3 ] |
| Yikes |
|
13% |
[ 8 ] |
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| Total Votes : 60 |
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Author |
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| Message | |
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marigold
Joined: 02 Sep 2005
Posts: 12458
Location: West Sussex
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 Posted: Sun Jun 24, 12 1:51 pm Post subject: |
 
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| DawnMK wrote: |
| we have two propertys that are BTL, the council rent them from us long term and take 10% for collecting rents, we made the initial investment in the properties and spent money renovating them and bringing them up to standard, they are basicaly our pension fund for the future and the return we get on them at the moment covers the mortgage and we have to pay tax on them as it is classed as part of our income, we are considering getting a third property and doing the same, on BTL if you let out yourself and take tennents on housing benifit you are taking a considerable finacial risk and not all landlords will do that, we have been at times out of pocket that is why we now place them with the council to house tennents, it ties the propertys up long term our mortgage is intrest only so at the end of term we still have to find money for the final payment, and if we sell we will have to pay capital gains, as well as paying tax all these years, so you dont go into to ake a quick buck, we have no plans to off load the properties and plan that when we retire and they reach the end of there term the rent will greatly subsidse our pension, if you take on tennents on benifits your rentable income is capped so no matter how you look at it landlords are not making millions on the back of poverty there is finacial risk and you could lose it all, or get only small returns on it, you can make money but only in the long term then not vast sums. |
You many not be making millions personally Dawn, but you ARE having your ongoing investment paid for by HB (assuming your tenants receive it). Collectively it's landlords who benefit most financially from the billions spent on HB. Your tenants' HB is buying you a long term investment not a secure home for them. |
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marigold
Joined: 02 Sep 2005
Posts: 12458
Location: West Sussex
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jema
Downsizer Moderator
Joined: 28 Oct 2004
Posts: 28233
Location: escaped from Swindon
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woodsprite
Joined: 20 Mar 2006
Posts: 2943
Location: North Herefordshire
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Katieowl
Joined: 01 Jun 2006
Posts: 4317
Location: West Wales
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chez
Joined: 13 Aug 2006
Posts: 35935
Location: The Hive of the Uberbee, Quantock Hills, Somerset
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sean
Downsizer Moderator
Joined: 28 Oct 2004
Posts: 42219
Location: North Devon
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chez
Joined: 13 Aug 2006
Posts: 35935
Location: The Hive of the Uberbee, Quantock Hills, Somerset
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Penny Outskirts
Joined: 18 Sep 2005
Posts: 23385
Location: Planet, not on the....
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jamanda
Downsizer Moderator
Joined: 22 Oct 2006
Posts: 35057
Location: Devon
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DawnMK
Joined: 01 Dec 2008
Posts: 895
Location: Buckinghamshire
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| Posted: Sun Jun 24, 12 3:10 pm Post subject: |
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As there will be no state pension for me and my husband or our children why shouldnt we have the right to secure our finacial future by investing in property now, instead of waiting to be a burden on the state when we are retired we are planning to support ourselfs finacialy, perhaps they ought to start means testing those pensioners out there now who recive state pension own several propertys flash cars have long holidays in the sun and come with that old chestnut they worked hard for it all there working lives total clap trap, they made there money and now are preaped to see fututure generations work longer and do without to keep them in comfy lifestyles and make us all feel bad because they are poor pensioners, retire the lot of them at 65 give the jobs to youngsters who want to work, there are lots that could be done,
yes perhaps all us landlords should let people stay in our propertys for free while we are at it, we work hard for what we have got and done without for many year, we dont take fancy holidays, live a fancy lifestyle, we work 60-70 hours a week never claimed benifits have been very careful with our money and invested it for the future and we are seen as cash cows for it, well so be it, when we sell the property we are in we will buy another and invest in another rental.
Oh and to top it all perhaps we should only rent to those who are in long term benifit and refuse tennents who are on housing benifits like many other landlords there punishinging those who have not got anything even further.
We dont know the finacial circumstances of our tennents that is the job of the council none of our businesss.
Do I feel guilty for working hard and making money not one bit. |
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Treacodactyl
Downsizer Moderator
Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism
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jamanda
Downsizer Moderator
Joined: 22 Oct 2006
Posts: 35057
Location: Devon
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DawnMK
Joined: 01 Dec 2008
Posts: 895
Location: Buckinghamshire
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| Posted: Sun Jun 24, 12 3:17 pm Post subject: |
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| marigold wrote: |
| DawnMK wrote: |
| we have two propertys that are BTL, the council rent them from us long term and take 10% for collecting rents, we made the initial investment in the properties and spent money renovating them and bringing them up to standard, they are basicaly our pension fund for the future and the return we get on them at the moment covers the mortgage and we have to pay tax on them as it is classed as part of our income, we are considering getting a third property and doing the same, on BTL if you let out yourself and take tennents on housing benifit you are taking a considerable finacial risk and not all landlords will do that, we have been at times out of pocket that is why we now place them with the council to house tennents, it ties the propertys up long term our mortgage is intrest only so at the end of term we still have to find money for the final payment, and if we sell we will have to pay capital gains, as well as paying tax all these years, so you dont go into to ake a quick buck, we have no plans to off load the properties and plan that when we retire and they reach the end of there term the rent will greatly subsidse our pension, if you take on tennents on benifits your rentable income is capped so no matter how you look at it landlords are not making millions on the back of poverty there is finacial risk and you could lose it all, or get only small returns on it, you can make money but only in the long term then not vast sums. |
You many not be making millions personally Dawn, but you ARE having your ongoing investment paid for by HB (assuming your tenants receive it). Collectively it's landlords who benefit most financially from the billions spent on HB. Your tenants' HB is buying you a long term investment not a secure home for them. |
so what would you like me to do work hard and give them a house I dont think so if they want to work badly enough they will find work some work or anything its not my fault they are on benifits I havent taken anything away from them, but we do give them a decent roof over there heads at an afford rental price below what the current rentable value is making it feasable for HB tennents to live there.
Break down the finaces yourself three bed house in this area rents out about �800 a month we rent it out at �650 and its in a respectable area in fantastic condition large garden semi detatched decent schools none housing estate who is gaining here the greedy landlord ripping off people or the tennent have the opportunity to rent something decent |
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Treacodactyl
Downsizer Moderator
Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism
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