My landlord has been fighting to raise the rent by 12 percent. Not only that but he also wants us to pay for all of the money that he missed out on during the pandemic where he was not allowed to raise the rent as much as is usually allowed, so if this all goes through, I am looking at forking up around 2 grand just from that plus having to pay 12 percent more. He owns buildings throughout Canada and it is a multi billion dollar business that is still growing as he buys old buildings, fixes then up and jacks up the rent to outrageous levels and has other building being built, so he is by no means hurting financially. He is trying to get away with as much cosmetic work as possible to attract others and wants us to pay for every last thing he does to the building. He legit has the worst pictures taken of a few spots that are pretty bad but all the rest of it, no pix are taken, one example is in the replacements of the metal railings and spindles for the balconies where most of them just needed a good paint job with some of the balcony floors just requiring a good pressure wash to get them looking new. At that point it is no longer about needing any extra money. You buy an old building, you have more have to repairs and costs that come along with it, that should not be our problem. He has more than enough to live a very comfortable life without ever having to worry even if the cash flow comes to a screeching halt, so it is just pure greed at this point. I know an 81 year old lady in one of his neighbouring buildings who was grandfathered in and they have been trying to get her to leave, and to add insult to injury they are only offering her 3 grand to do so. All of this leaves only one option, that is, that he is heartless. It is just absolutely ludicrous.
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.
I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of finances and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
Personally, I can connect to that. When I began working with Annette Marie Holt a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $400,000.
@@hasede-lg9hj Please how can I connect to your advisor? My funds are being murdered by inflation, and I'm looking for a more profitable investing strategy to put them to work.
@@LMWORLDWIDEI used to rent a property which turns out to belong to a 'bank'. They offloaded quite a few when there was a new property law that took place 6 or 7 years ago.
Exactly.any mean possible to make you a surf . Inflation is a weapon on the working class to keep you poorer . all by design wars and influx of migrants. benefit cut for the British people they want your house and property off you.
Yes, wealthy people are squeezing out the middle class. An ordinary family will never afford a house and the middle class are competing with wealthy people for the limited homes the UK has. Wealth inequality will destroy this country
I looked up an old flat I used to live in, in Bayswater, London. One bedroom, one living room one bathroom a kitchen and a small courtyard. My landlord purchased the property in 1999 for £95k. I used to pay £1250/m rent. That flat is now worth £725,000 according to the real estate estimator I was looking at last night. When I was renting I could have bought the 1 bedroom flat upstairs for £235,000 in 2004 but didn’t have the deposit. That flat is now worth £800k! Things are insane!!!
Or landlords selling up is just the first step, and then … ban on foreign and big company investment Then working families will be able to buy … makes sense !
@@Snytcnikovyou my friend are so naïve if you think that’s going to happen. Supply and demand dictates that prices will just keep going up, with an ever growing population and a distinct lack of new houses being built no matter how many landlords sell up prices and rents are not coming down….. accept it and get used to it bud 🤷🏻♂️
@@AdzP9 maybe naive yes .. but that is 100% what a government should be in place to do .. ensure that the people doing the hard work (teachers and nurses) can afford to own the homes they are paying for .. If governments keep allowing foreign investment in our property and incentivising BTL landlords to get more and more interest only mortgages our economy will die fast Don’t be a lemming mate ! These problems with housing will affect all of us in one way or another .
Come down to Cornwall and do a tour, and explain to existing private landlords how to restructure into a company structure cost effectively, help the people that are already in the game and struggling, so they can keep their tenants then you will have a win win situation that helps everyone.
I just had a conversation with my landlord, who’s having to increase my rent by over £100 a month just to break even. I’m very lucky they don’t need to sell, but the fear that it could get a lot worse is scary. There are no homes to rent, and I can’t buy
Service charges has been biggest reason why landlords are selling their apartment. A two bed room flat in Liverpool on £600 rent and owner have £500 service charge to pay. How would you even breakeven
@@ummb7963 yeah, they're probably in the same queue for food. Imagine how bad things are for the landlord - even after getting rent from his/her tenant the poor chap is in the same bank (that's food bank not money bank. The landlord should be at the money bank).
How so? Im really happy, for me hundreds a month less than buying, no upkeep on my part, thankfully no issues with llord so far yet! No interest to buy for a very long time coming, simple math really! 💰💰💰👍😁
The main problem is being a landlord is for the already wealthy! It’s not a game for the penny pinchers and I don’t mean that in a mean way at all.. if you want to be a landlord but you can’t afford just to buy the house outright probably best to look at a smaller investment until your ready to jump into the fast lane.. again I’m not being mean I’m just being realistic..
The problem is buy to let mortgages. If you can afford to buy a house outright to put up for rent, good for you. But buy to let mortgages should be illegal.
This country is becoming choked by silly and unfair laws. For pity's sake some schools do not allow baah, baah black sheep, it has to be baah, baah rainbow sheep. What is wrong with black as a beautiful alternative to white? I've just had a bout of nerves after visiting one of my two rentals properties. My income is less than many on minimum wage and that is including my pension. My rent helps but does not give me a luxury lifestyle. The tenants appear to think heaps of dog shit, neglect, broken meter cover, general mess and squalor is fine. I'm just about to give them a new front door but cannot afford such luxury for my own house. They want a new wash bowl for a sink they cracked but fortunately that is down to them. Horror upon horror I found they had succeeded in having a broken back door I installed before and had attached a cat flap in white despite the windows and doors being brown. Please ! Landlords need laws to protect them, not deter them. My only choice was to stop being Mrs Soft and to instruct the agents I pay to manage it to photograph every room so then I must make some sane choices. The house was spotless when former tenants, lovely hard working Polish people moved out and back to Poland. I actually gave them money for their care and as a gesture of gratitude. We landlords are not monsters and have worked so hard during our lifetimes to buy a house, or our parents did to provide for us. I either must move in myself, sell it and get a big tax bill or carry on with the hope they might actually live and not destroy this house which, by the way is actually nicer than my own humble but loved home.
@@BoBo-se9gw it is over renting in the UK, rather like saying/thinking, Prince Harry really is Charles is biological son, oh the British love playing games with themselves and love been in total denial…and like to throw in stupid sayings like …( it is what it is…well you never know….thats life….never give up….things could change…..my glass is half full….tomorrow is another day…..well their you go….) quite prophetic.
you can put your own contract, sure, but it can not be in direct contradiction with the law. law is above the contract so if you try to kick them and they go to court, all you can do with your contract is wipe your tears.
in greece we have to go to court to evict tenants. The court decision can take up to 3 years . After the eviction landlord is obligated to STORE tenants staff. !! do you think you have real problems in uk?
High interest rates plus law changes for tenants are killing landlord models unless you do holiday lets in a popular area!! More houses on the market will lower prices and get tenants more options!
Too right! Market is kind of frozen up right now. Few good options to rent, outrageous houses to buy. Loggerjam ahead until the builders keep abuilding but how theyre gonna sell em without pay rises beats me! Will need some hefty incentives to get me to even consider it let alone dump down a deposit! A bloody joke right now! Election year ahead means nothing will get done to some stability there 🤦♂️
WHAT ABOUT TENANTS GUIDED TO BANKRUPT LANDLORD AND REWARDED VI A ''THE PETER PRINCIPLE'' A WEALTHY LANDLORD LIQUIDATED BY BAD TENANTS WHO NVEER WANTED TO BE BAD
All by design of course, they reeled people into the market in the pretence that the ordinary wo/man as their pension fund, then they screwed them over.
I was so lucky,my tenant gave me notice so I immediately put the house up for sale and sold it.I owed £35000 less on the house I live in than what my rented house was worth yet my mortgage was £150 a month more than what I was getting rent,it just didn’t add up
Wait until the impact of inflation and high interests affect the market. More tenants will be defaulting on their rents and people defaulting on mortgage payments.
depends where you buy.bought flat in feb this year.105 k spent 5 k rent for £800pcm mortgage £350 pcm interest only played the game 24years my probs is 40% tax🤔
Been thinking about dipping a toe in these sometimes treacherous waters. Been offered a deal by a family business that locates, refurbs and tenants and property before selling on to the investor and rents (6%, they get 2%) are guaranteed plus any refurbs needed in first 3 years. Sounds champion. Except a bit or research immediately shows that the sell on price to the investor is upto 20% over market value. So they are immediately taking out any future increase in value. One example is a 3 bed house they want 77k and in the same street is a property at 60k with a sitting tenant who has been there 12 years.
Landlords eating from foodbanks... They clearly cannot afford to be landlords....Sell the asset (the property) and let someone else take over, simple! They would make a lot of the sale as some landlords do not require mortgages.
That's why i now invest my money with developers and get great returns and I don't do anything. Had to get out of the stress and glad I found other options. This old way is dead.
Just buy a REIT exposure over seas or in the UK, your choice. More to life than houses ie - warehouses, offices, police stations, clinics, factories, supermarkets etc etc etc All from the click of a button ...
When you first put a property on the market to sell, the first type of buyers who come in with an offer are those with an incredible low offer. These are actually people who work for the banks and institutional investors. They are hoping that people are so desperate to sell that they can strike a really low deal. Just beware if this is you!! You also left out the capitol gains tax clobbering at the end of the sale.
You have told the world the truth all in this video. Honestly you couldn’t have said it all any better! Yes some landlords are killing it but the average like you and me are on the middle line as not much profit now. Keep up the good work bro ❤❤❤
Mate, the culprits are the Banks init.Led by the BOE. To put it mildly, small LL are bein financially rapedd by Section 24 Tax and BOE interest ratez. Financial system been weap on nized init.
Mate landlords that are eating out of food banks😂. On what planet. 😂. Then they need to dam well sell up and give people trying to get onto the housing ladder a chance. I am so not crying for them😢💀.
I was really suprised to hear how many landlords were on a tracker whilst interest rates were sub 1% and never locked into a fixed year period when BoE rates started to increase. Moronic.
Hallelujah!!!!!!!!!!! The daily Jesus devotion has been a huge part of my transformation. God is Good 🙌🙌🙌🙌🙌🙌🙌🙌🙌was owing a loan of £47k to the bank for my son's brain surgery(Samuel). Now I am no longer owning after I invested £6500 and got my payout of £290k every month, God bless Sandrina Edmondson 🇺🇸🇺🇸🇺🇸
Hello how do you make such monthly, I am a born again Christian and sometimes I feel so down 🙁of myself because of low finance but I still believe in God.
Landlords should have financial reserves to protect themselves if the tenant does not pay. Landlords should then deal with the rent arrears accordingly but should not be naive to everyone is going to pay all the time, because that's not how the world works. I wish it was but it isn't.
Fair point and i guess many reasonable landlords have insurance but in this short termism these days prob insurance company will back out of assisting the landlord when they should be doing so! Recent car insurance experience proved so! Scumbags
To me, it just doesn't look that attractive any more. The government is almost certainly going to make it less and less worthwhile. Of course if prices were to tumble a good deal, it could become attractive again.
Dead trade. Been a while now. Can flip a deposit on way better things, even samuel said it best, he paid 100k in 2009 and by 15 years he earned 200k. I could make that in half the time without landlord stress!!
Oh. So you're in the same situation as landlords in Germany now. Evicting a tenant takes forever. ... Hm, might as well keep looking for a place in Wuppertal. :-) ... No, just kidding. It's worse here.
You have not even touched when your tenant turns out to be a criminal. My house was turned into a cannabis farm. My ex tenant is wanted by the police. The insurance company does not cover the amount of damage. My tenant is totally protected and who protects me? I am always out of pocked by every single tenant either cleaning a house or not paying rent, or stealing my furniture? 5 weeks deposit never covers it. So, with everything covered in the video it is hardly surprising that landlords are exiting the market. Its disgusting. It is now I find out that even if you ask to view your property, giving 3 days notice, if the tenant does not agree, you can never enter your property. I will only rent my property out on 6 months contracts, should I need the money to sell the property. Which I am going to do. Where is the balance? There should be a bad tenant database for parity.
Housing crisis triggers a market crash or a financial crisis, it could send shockwaves through the stock markets worldwide. I’m worried about my investment of over $600K stocks. Is this a time to consider diversifying my portfolios?
If the housing market takes a hit, it might lead to reduced consumer spending and overall economic instability. I advice you consult with a professional about your investment portfolio to enable you to take advantage of the downturns.
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
The advisor that guides me is Annette Christine Conte , most likely the internet is where to find her basic info, just search her name, She's established.
Annette Christine Conte is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Absolutely love it!!! I'll have to be financially stable in every sense before purchasing my first supercar. The best thing to do with your money is to invest rightly because money left saving will end up with no returns
Yeah and Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional in order to navigate this recession and achieve potential high yields and taxation.
you don't need that much, as long as you have 250k to 350k in cash, and earn at least 40k plus is fine. It not like you are going to pay the car off, get the car, drive it for a year or two then get something else. You don't need millions of manov to oniov nico thinnc.
Most people miss it but the secret to retiring comfortably is finding a way to make returns while your money works for you. My Dad, as i remember started saving for retirement quite late but I know he was making more than 10k returns from his investments monthly and it was completely passive
Our family got introduced to a financial consultant about four years before my dad retired. That was what changed things, and I think my retirement income will be on the right track, luxury cars and trips
@@rodgertim2881 Please could you guide me on how to get in touch with your consultant? My funds are being eroded by inflation and seek a more lucrative investment strategy to effectively utilize before I consider retirement.
Exactly, section 21 is been issued right left and centre, landlords are destroying decent tenants,turning their lives upside down overnight. Literally making them homeless !!! Under section 21., you literally have only eight weeks to find another place. A lot of them can’t afford higher rents elsewhere. Mothers with babies, good people with pets. They don’t care.. Good tenants are being evicted under section 21 in the middle of a housing crisis. Also, hes forgetting to mention that there are an unbelievable amount of landlords who already have finished paying for their houses.
@@chello70 Government caused, they know full well it will be worse for tenants as landlords want to get out, but as long as it suppresses everyone's situation that's all that matters.
I must live in a different world to you ,I’m still buying and the houses I already rent are doing fine , I haven’t increased any of my rents because my tenants can’t afford it, I do eat beans but I haven’t had to go in a food bank, yet, , there’s some cheap houses out there and plenty of buyers I had to bid against 3 other cash buyers the other day I lost because people are still buying the buy to let market is doing ok,
can't work out if you bought properties that are 'under the radar' because you bought them long ago and they are no getting taxed fully of if you have avoided paying tax somehow? Otherwise how are you not paying more tax and thus doing less well, as ALL renters bar those under the radar say the same - that the new tax regime (rent taxable rather than profits and maintenance not off-settable) has wrecked the chance of profits. Just interested. What do you know that they and Samuel don't?
@@gurglejug627 I’ve been paying tax I since I started dealing in property my accountant makes sure I only pay what is due but if your buying all the time and spending all or most of the profit on referbing I’m in the building trade and that helps I don’t buy under the radar where did you get that from, the buy to let trade is doing fine if you do it right
Really just depends on location and price range. People are always moving and the most desirable and well priced properties will keep getting snapped up quickly. They're in the minority though. Most areas don't command high enough rent prices to pay off mortgages with high interest rates but part of that depends on what deal you managed to get with the bank
That's the point though, if you can buy outright with cash, then you're fine. So basically need to already be super wealthy to hoover up more. No way for the working man to be in the game anymore.
We need to be clear about the fact that this will only impact Landlords who own very few properties or a single property and are living off of a wage. Business who buy up properties will not feel this, this is yet another way of transferring wealth from the middle class to the upper class.
These truly are bad times for the majority, im in a group of entrepreneurs, there about 12 of us in the group chat and we're all self made in different fields. I'd say the outlook of our group has never been so negative in the 8 years we've been in it. i'd say 9 out of 12 in the group are struggling right now where as before the pandemic all 12 of us were killing it in our own fields.
Isn't this by design though....? Meaning if it's true, you will own nothing & be happy, they have to cripple property owners in the residential market so big business will snap up the repo's or anything on the market with an urgency to sell by landlords...Or is my mind diabolical lol Too many movies? lol
'Isn't this by design though ...' and '... you will own nothing & be happy ...'. You have heard a couple of soundbites from propagandists and they have taken root in your brain without your even understanding anything.
Sam how’s the court cases going mate ? You seem angry in your newer videos now .. hope it’s not because of all the money you will have to pay back to the unsatisfied customers from your courses
People are not having babies.. future is not great, everybody is fed up, oppressed with rules that does not benefit families. We just exist and people dont want to create kids to suffer
Can go right ahead. At todays prices hugely overinflated, will cashflow but will need hige reinvestment in very near future. I wouldnt touch mine with a barge pole! Min 30% overpriced and will need prob 100k reinvestment. No thanks!
£25K a month net does not leave anyone with a couple of grand left. Try salary calculator UK to see the actual take home is barely liveable on. You are right though Samuel, the situation is diabolic& only meant to profit corporate landlords and the rich who make these rules.
2018, I sold all my rental properties, bought silver and gold and gave the interfering Marxist council the middle finger and life has become far less stressful, in fact beginning to enjoy life again.
You are completely wrong that you do not need to go to Court for a s21. Of course you do. ANY eviction requires a possession order, which requires a Court order, whether its s21 or s8.
