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Archive for month: December, 2014

Private landlords increase expected to 1 trillion homes

Private landlords increase expected to 1 trillion homes

Private landlords in Britain are set to own £1tn worth of homes by late spring 2015, it was predicted on Thursday, as rising house prices and growing appetite from investors drives up the value of the booming buy-to-let sector. The private rented sector has expanded rapidly in recent years, as would-be first-time buyers have struggled to get a toehold in the housing ladder.

According to the Guardian:

Official figures show that since 2001, nearly 2 million households have been added to the sector and a report by mortgage lender Kent Reliance forecasts that by 2016 the total will have grown to 5 million, representing just under one in five households.

Buy to let landlords now own properties worth a total of £930.7bn, three-and-a-half times the £262.1bn the sector was worth in 2001, according to the lender’s analysis of figures from the Office for National Statistics and Land Registry.

Rising house prices are behind much of the growth, with the markets in London and the south-east driving up the total value. Kent Reliance said that since 2007, 61% of the increase in the sector’s value had been driven by London, and that over that period landlords in the capital had seen their assets increase by £166bn.

London currently accounts for 41% of the sector’s value (£377.3bn) while the south-east comes next with a value of £137bn (15%).

There has also been an increase in the amount of money flowing into rented property in recent years, with buy to let lending going to 34% in the last year alone.

Although there are signs that house price growth may be slowing, Kent Reliance said that on current trends, the total value of the PRS would break through the £1tn barrier in the second quarter of 2015.

The report said rising house prices had meant falling yields for landlords, but driven up annual returns. The average landlord has seen a return of 15% over the past 12 months, equal to £27,475 per property, and across the sector returns totalled £124bn.

Since the housing market peaked in 2007, the average landlord has made £83,000, while in London gross returns have totalled £224,257 per property, the report claimed.

In total, landlords across Britain receive £3.8bn a month in rent, it said.

Andy Golding, the chief executive of OneSavings Bank, which owns Kent Reliance, said: “Landlords have benefited from the recovery in house prices since 2009, which has pushed their wealth to within touching distance of £1tn. But as the sector’s value marches upwards, the main impetus has come from the growth in the number of households as demand from tenants continues to climb.”

He added: “Private renting isn’t a flash in the pan, and 80% of new households since 2001 have been accounted for in rental properties. While for many it is a lifestyle choice, the ongoing squeeze on wages, rising house prices, not to mention difficulty in obtaining sufficient mortgage finance is accentuating this shift in tenure from owner occupation to long term renting. In many ways, Britain is becoming a more normal nation, much more like its continental neighbours as a result.”

After the credit crunch banks and building societies restricted buy to let lending, but more recently they have relaxed their criteria and many are now competing to win custom from investors, with some lowering the amounts required as a deposit as well as cutting interest rates.

New rules on pensions, which are set to come into force in April 2015, are likely to see more money come into the sector, as some savers decide to buy property in the hope of providing themselves with an income in retirement.


Buy to let rents up 8.3% in a year

Buy to let rents up 8.3% in a year

Average buy to let rents across the country rose by 8.3% in the past 12 months, according to new research.

Tenants are paying an average monthly rent of £874 a month, up from £807 in November 2013.

However, removing London from the figures shows regional buy to let rents are £702, compared with £674 a month last year, which is an increase of just 4.1%.

Rental growth is also patchy, according to the report from landlord insurer HomeLet.

Although nine regions, including London, saw rental growth, three regions saw buy to let rents fall below the November 2013 level.

Buy to let rents in the North West fell from £659 a month in November 2013 to £635 last month – a 3.6% decline

In Wales, rents dropped 2% lower  from a year ago, from 524 to £581 a month, while the North West fared even worse, reporting a 2.5% decrease over the year from £659 to £635 a month.

The regions with the highest rent increases were Scotland (up 11.7%), Greater London (11%), and the West Midlands (8.7%).

Homelet spokesman Martin Totty explained buy to let rents often experience a season dip in the late autumn and the figures remain ‘strong and predictable’.

“We see the autumn’s moderation in rental growth as broadly in line with the typical seasonal effect that often sees rental prices balance or even slip into reverse in many areas of the country at this time of year,” he said.

“The outlook for the private rented sector remains positive for several…

reasons – the pace of housebuilding is unlikely to have a significant effect on the supply of property to buy or to rent in the short term, high house prices, and a mortgage market where lending criteria remains constrained, are combining to ensure that the demand from tenants needing rented accommodation remains strong.

“In terms of seasonal highs we see Scotland bucking the trend of the rest of the country,  the rapid growth in the Scottish rentals market reflects the strength of the economy north of the border – particularly in oil-rich Aberdeen, which has a thriving rentals sector, but also in other Scottish cities and throughout the country.”


Stamp Duty Changes Dec 2014

Stamp Duty Changes Dec 2014

In his Autumn Statement, the Chancellor George Osborne announced the abolishment of the residential slab system applied to calculate Stamp Duty Land Tax (SDLT).  A new marginal system of taxation is welcome news for landlords who will benefit from lower costs when acquiring property, freeing up funds for property improvements and keeping rents stable.

With immediate effect, each rate will only apply to the part of the property price that falls within that band, very much like income tax. The new marginal rates are as follows:

*  No tax on the first £125,000 paid

*  Then 2% on the portion up to £250,000

*  Then 5% up to £925,000

*  Then 10% up to £1.5 million

*  Then 12% on everything over £1.5 million

The Chancellor calculates that the new system of SDLT will cut costs for up to 98% of homebuyers, resulting in a tax saving of £4,500 on an average priced home of £275,000.  Further good news is that anyone in the middle of moving house won’t miss out. Those who exchanged contracts without completing as of midnight on the 3rd December can choose whether to pay under the old or new system.


Huge £3.5 billion boost for Built To Rent sector

Huge £3.5 billion boost for Built To Rent sector

The Build To Rent initiative – whereby financial and other institutions bank-roll the building of blocks of apartments and then keep ownership and manage the letting of individual units – has taken a huge step forward with the ‘unlocking’ of £3.5 billion of funding.

A deal between the government and PRS Operations Limited, a subsidiary of Venn Partners LLP, has been signed by housing minister Brandon Lewis.

The government’s private rented sector housing guarantee scheme enables landlords of new rented homes to use a government guarantee to secure long-term financing. This is purposely aimed at boosting the supply of purpose built, professionally managed private rental homes – which will, of course, compete with letting agents and buy-to-let landlords who have until now been the backbone of the private rented sector.

This £3.5 billion in government-backed loans will be made available to institutional landlords looking to invest at least £10m for new homes available for private rent.

Venn Partners has created PRS Operations Ltd specifically for the Build To Rent initiative.

By Graham Norwood


Landlord Law: Right-To-Rent Immigration Checks

Landlord Law: Right-To-Rent Immigration Checks

This one is about the hot topic of immigration- it was bound to happen. The Government needs to look like it’s doing something about the issue to restore faith in those wallowing around in upheave- so why not put some responsibility on landlords- because that makes sense? Right.

Needless to say, the kind of people they’re trying to reassure is another issue altogether. Probably not people I’d dance with. But that’s another story for another day.

Fortunately, on this very, very, very rare occasion (I can’t emphasise that enough), this doesn’t appear to be a legislation that targets landlords’ pockets directly, and in-turn benefit our politicians’ balance sheets. Even more surprisingly, this one doesn’t actually seem like a totally terrible idea (comparative to previously introduced legislations, of course). It almost makes you think it’s a misprint. However, there’s still a lot to be desired about it, which makes it utterly believable.

Ok, so here’s a quick overview of the legislation and what is required in order to comply…

What is the “right-to-rent” legislation?

From the 1st December 2014, UK landlords face fines if they rent homes to illegal immigrants without carrying out ‘right to rent’ checks.

Merry Christmas!

I quote, from the Gov website:

Under section 22 of the Immigration Act 2014 a landlord should not authorise an adult to occupy property as their only or main home under a residential tenancy agreement unless the adult is a British citizen, or EEA or Swiss national, or has a “right to rent” in the UK. Someone will have the “right to rent” in the UK provided they are present lawfully in accordance with immigration laws. Landlords who breach section 22 may be liable for a civil penalty.

In normal human talk, you’ll just need to check your tenant’s ID and proof of citizenship and ensure they have a right to rent in this country. Why didn’t they just say so, right?

The issue has caused controversy within the industry over whether it is our responsibility to check the immigration status of potential tenants. I personally don’t think it’s a tall order to simply ask for proof of ID/Citizenship (that’s basically what the legislation asks of landlords)- but it definitely shouldn’t be a landlord’s responsibility to keep taps on immigration and then being penalized for failing to do so.

Having said that, I don’t think it’s a hugely terrible legislation simply because it will help landlords perform better referencing (for those foolish landlords that don’t already ask for ID), even though the motive for being forced to do it is completely unrelated. So let’s just throw this one onto the shit-pile of landlord legal requirements that doesn’t make total sense, but is marginally acceptable because it helps landlords in other ways and breaks the mold of NOT making landlords pay through the nose to comply with a completely ridiculous legislation. Ahem. Landlord licensing scheme.




Who does it apply to?

Initially, the legislation will apply to landlords letting property in Birmingham, Walsall, Sandwell, Dudley and Wolverhampton (why these areas? No idea), and then rolled out to the rest of the country during 2015. It’s worth noting that this only applies to new tenancy agreements starting ON or AFTER 1st December 2014.

You can use this right-to-rent tool on the GOV website to check whether or not your property is affected by the legislation. Alternatively, you can call a helpline on 0300 069 9799.

What are the penalties for not complying?

If found to be in breach, landlords could face fines up to £3,000.


That said, it is important to note that the responsibility lies with the landlord- the person who authorises the occupation of accommodation by the occupier in return for the payment of rent. So if you’re using a letting agent, I would ensure they’re complying on your behalf- don’t just take their word for it.

How do landlords comply with right-to-rent checks?

Landlords will need to check the identity and citizenship of ALL tenant’s over 18, for example a passport. A full detailed list of what is accepted as proof is provided below.

Copies of the items used as evidence will need to be taken to prove that the checks have been carried out, dated by the landlord and must be kept for at least one year thereafter.

Personally, I’ve always checked my tenant’s ID and taken a copy as a safety measure, just to ensure there’s no fraudulent activity. I assume most with a little sense do the same. So this legislation won’t really make me do anything I wasn’t already doing.

What documentation will be accepted as proof of right-to-rent?

The documents that are considered acceptable for demonstrating right-to-rent in the UK are set out in two lists – List A and List B.

LIST A contains documents that prove the tenant has an indefinite right to be in the UK, while LIST B proves the the tenant only has a limited period.

List A

You are required to see either one document from group 1 OR any two documents from group 2.

Right to rent- List A, Group 1

Right to rent- List A, Group 2

List B

All documents in List B must be valid (not expired) at the time of the right to rent check.

If presented with a document from this list, the landlord will need to carry out follow up checks within the following periods, to ensure the tenant is still permitted to rent in this country:

  • a) one year, beginning with the date on which the checks were last made, or
  • b) before the period of the person’s leave to be in the UK, or
  • c) the period for which the person’s evidence of their right to be in the UK expires.

Right to rent- List B

What happens if a tenant can’t provide any documents from List B?

The landlord must request verification of a right to rent from the Home Office’s Landlords Checking Service by completing the relevant online form.

… or you could just find a tenant that can provide the relevant documents.

I personally don’t think it’s worth jumping through hoops for someone that can’t provide basic documentation to prove their identity and/or right to rent in this country. It would be extremely concerning if a tenant couldn’t effortlessly produce those vital documents, right? But I’ll leave that in your capable hands to decide. Perhaps the tenant is unbelievably hot, so you’re prepared to walk the extra mile. Good for you; I’m certainly no stranger to thinking with my penis.

Needless to say, I don’t even know what half those documents look like in a legitimate form. Are we also meant to check the authenticity of the documents we receive? Will unknowingly accepting fraudulent documents land us in shit? God knows. All I know is that I have no bloody idea what a genuine “A current immigration status document issued by the Home Office” looks like, nor do I wish to waste my precious time playing detective.

Now we’re starting to see the gaping holes in this scheme. I suspect this new policy may force some landlords to choose tenants that have indefinite right to be in the UK and can rely on UK driving licenses and passports as proof of citizenship, just to avoid any uncertainties and complications, so the GOV might be shooting themselves in the foot with this brainchild. Dumbasses.

People are already able to convincingly fake documents to illegally enter the country- how do you think landlords will fare against that battle? Good thing most landlords are fully qualified forensic experts, otherwise this would be a totally bullshit idea.

For further details

I have only covered what I feel to be the most essential/applicable information to the average landlord/tenant scenario. There’s a tonne more snooze-worthy details available from the GOV website that may apply to rarer and/or more convoluted situations.



What You Should Know Before YOU Become A Landlord…

What You Should Know Before YOU Become A Landlord…

“I want in”, he says, with a smile stretching from ear-to-ear, so smug that I almost want throw my pot of yogurt over his face. You know, just because.

A friend of mine has managed to stack together a little too much cash under his withered mattress- and now he wants to taste the sweet nectar of landlord living.

But the truth is, being a landlord is one of those professions that mostly looks glamorous from the outside… and exponentially hideous from the inside (I know what you’re thinking, I just described a vagina), and that’s precisely what I told him.

Once you’re in the game, the anticlimax will rapidly hit you square on the jaw like a tonne of used tampons. It’s like, finally hooking up with that one person you’ve been pining over for years (the one that never gave you the time of day), only for the sex to be bitterly disappointing. Nothing fit quite right and you noticed soul-destroying blemishes in places you fantasized being flawless.

Welcome back to planet earth.

Take it from an average landlord that’s been scratching around in the game for several years, being a landlord is actually a lot of hard work and it can be extremely exasperating, even for an energetic playboy such as myself. Not consistently hard, but periodically. But those periods are some of the worst I’ve experienced in a professional capacity, and believe me when I say they come around far too quickly and they’ve often been left feeling suicidal. The money definitely doesn’t come easy, and there are easier ways of making a lucrative living that’s attached with far less stress.







I got suckered into the game, probably after watching one too many episodes of Sarah Beeny’s Property Ladder. If you remember the programme, you’ll recollect how excruciatingly painful it was watching the world’s biggest idiots making a killing from their restoration projects. To me, that made property seem like a viable option.

Sure, if those idiots can do it, why can’t I? But I didn’t have the time or testosterone to develop, so buying properties in ready-to-let condition seemed like the natural entry point.

In hindsight, I was completely out of my depth while I was sitting back with my hands down my pants, admiring Beeny and the soaring profits being made by novice developers, because I completely fell idle to the fact that Property Ladder was mostly shot during a massively booming market. Ironically, most of the wannabe’ developers could have purchased the properties, sat on their arses getting blitzed out of their tits on crystal meth for several months and still walked away with healthy margins.

But at the time, it looked fabulously easy. And there lays the problem, being a landlord just looks too damn easy. How difficult is to put down a deposit and then get a conveyor belt of 9-to-5 sweatshop monkeys paying off the mortgage over the course of 20 odd years? We’re really onto something here. Rinse and repeat. Easy.

However, from my experience, the following hold true…

The industry is polluted with degenerate assholes

I’m not just talking about letting agents here, although they seem like the obvious target. We all know what they’re capable of- everything you’ve heard about them is true. They’re mostly a bunch of unscrupulous tossors that create imaginative ways of swindling money out of landlords and tenants (those of you agents that read my blog are OK though, I swear! You guys are slick!).

But agents can’t take the entire blame (only the majority) for the state of the industry, otherwise eradicating them from our cycle would make it the perfect profession.

The bigger picture is somewhat more terrifying, and that’s because every level has an asshole waiting to suck the life out of you. Literally, every level, from the bottom all the way to the glitzy top, whether that be cowboy tradesmen, out-of-touch asshole politicians introducing ridiculous laws on a whim or tenants that feed off ruining the lives of innocent landlords knowing full well they can get away with it, thanks to those… ridiculous laws.

A good example is the tenancy deposit scheme, because it comes attached with bullshit laws/penalties that unconscionable tenants take advantage of. Many dip-shit tenants needlessly prosecute/threaten decent landlords to make an extra buck just because their deposit wasn’t protected. It’s shameless. The landlord SHOULD have protected the deposit, yes, but prosecuting for the sake of profiting even though they’ve been a good landlord is an asshole move.

The industry is just contaminated and it’s extremely difficult to entirely avoid collision.

Why is this different to any other industry? In principle, it’s not, but ploughing money into property is probably one of the biggest investments you’ll ever make, so it’s considerably more painful when someone tries to fuck with that.

It’s NOT a get rich quick scheme

The average landlord won’t get rich from being a landlord, they’ll most likely secure a cosy pension and make a comfortable living by the end of the cycle if they’ve been relatively successful. But even reaching that stage is a slow grind. Very slow.

People seem to have this warped perception of how it all works. Let me assure you, it’s rarely a case of dabbling in the market for a few years and cashing out with a couple of million and a dangerously attractive gold-digging stripper g/f that’s jam packed with syphilis (basic rule, the more STD’s they have, the hotter they are). That’s definitely my plan, but I wouldn’t count on it if I were you.

The average rental return typically isn’t that great, you’ll be lucky to achieve a 7% yield, so you’re not really making any real money for the first decade. You may even buy and sell at the right time, but that definitely won’t happen overnight.

Research is boring, but essential

I hate researching. Always have, always will. If you’re relatively normal/cool, you feel the same as I do.

Off the top of my head, I can’t think of anything that can knock it off the top spot for being the most tedious shit on the planet. I really don’t have the patience for it. Much like Golf. Don’t even get me started.

But as much as I despise it, I know some times research is simply not optional.

Unfortunately, far too many douchebags jump into this industry penis first without doing any of the essential groundwork, which of course, is totally psychotic, no matter how much you hate the idea of cracking open a book and soaking up knowledge.

Every day I hear at least one landlord say, “I didn’t have a clue about the tenancy deposit scheme, and now my tenant wants to sue me. What can I do?”

That only tells me one thing. That landlord refrained from getting off their fat, crusty ass to do even the most basic of research before spending tens of thousands of pounds.

If you can’t even be bothered to do your own independent research to support your investment, then you’re a loaded weapon. You’ll most likely be a liability to yourself and your tenants.

You’ll need to do a pile of research before spending a penny, and then continue to keep your ear to the ground because new nonsensical laws are regularly being introduced.

It’s NOT passive income!

“You’re making money in your sleep”, they say.

Yeah, I’m really not. Being a landlord really isn’t that passive, despite popular belief.

When you’re dealing with bastard tenants in arrears, spending late nights cleaning thick, congealed shit off the kitchen units with a toothbrush and spending long weekends painting and decorating in-between tenancies, you then realise how actively you’re working for every penny, which goes against the very nature of passive income.

I don’t have products flying off the shelves while I’m sleeping. I have adult-shaped children living in my property that need maintaining and servicing all year round. Being a landlord is a 24/7 gig and your services could be required at any moment.

Tenants WILL regularly want repairs that will require your attention, and they’ll often ruin your day with bullshit minuscule maintenance issues like a loose door handle. They COULD remedy the issue themselves with in minutes, but they won’t. They would rather play Satan and torture the landlord because that’s just easier for them.

Unfortunately, the more properties you buy, the less passive it becomes (up to a certain point).

Continuous investment

One of the reasons that BTL isn’t a get rich scheme is because it’s like every other business- there are continuous outgoings, many of which are unexpected. Being a landlord is literally a money-pitt; it’s often expensive as hell, and forecasting costs is incredibly difficult, so you can’t even prepare for it. You will continually have to throw money at problems, mainly repairs and maintenance issues.

I was recently browsing through a landlord forum, where I read a thread by an aspiring dip-shit landlord that was the epitome of ill-prepared. She was forecasting the figures for her prospective investment. I honestly couldn’t tell if she was asking for opinions or just gloating.

The figures she provided looked amazing, but her projections were horrendously flawed. The only expense she accounted for was her mortgage payments. She didn’t take into consideration the cost for complying with legal requirements, insurance, tenant acquisition, maintenance, tax, marketing, and the shit load of other expenses that come with being a landlord. Unfortunately, she posted her comment in a rather hostile environment, so she soon got yanked back down to earth by the scruff of her neck. Poor girl. Stupid as hell, but still a sad way to go.

If my outgoings were limited to my mortgage payments, rest assured, I’d only be blogging selfies next to my Lambo with my middle fingers grinding against the camera lens. Alas, a landlord that is only restrained by mortgage repayments is either lying through their teeth or unbelievably reckless at their job. An asshole, either way.

It’s a business that requires continuous investment and rightly so, because you’re dealing with tenants that expect a service.

Incomprehensible laws

I can’t say I’m familiar with many sector specific laws, but I’m going to go out on a limb and say that landlord law is probably the dumbest shit out of them all.

To sum up the state of the system: good landlords with bad tenants don’t stand a chance. They really don’t, they’re cannon fodder. We’re basically paralyzed from exercising any resistance when tenants screw us over.

To put it into perspective (most of you will already know this), a tenant in arrears cannot be served a valid eviction notice until they are 2 months in arrears. Once an eviction notice is served and then ignored by the tenant, the landlord will have to sit back and anxiously wait for a court hearing. The hearing could take up to several months depending on how busy the courts are (they’re usually filled to the brim). In the mean time, the tenant is kicking-back rent free for the entire duration.

The landlord cannot even attempt to enter the property because that could be deemed as harassment, as would sending aggressive text messages (which is something we would all, of course, naturally want to do e.g. “get the hell out of my property, you freeloading, dippy bastard, or I’ll put your head into a meat grinder and feed you to the crows”).

The reality is, you’ll have the urge to smash the door down with a sledgehammer, threaten to burn the living shit out of your tenant with a blow torch unless he/she moves out immediately, and then change the locks. Unfortunately, unless you want to get severely prosecuted, that fantasy will forever remain in the spank-bank.

That’s just one example. The sad reality of how long landlords have to wait for justice to prevail makes me want to puke my guts out. To make matters worse, tenants falling into rent arrears and dragging their heals is incredibly common, so this happens on a daily basis.

The collective group of assholes that designed and approved such injustice deserves the Ray Rice treatment. Did you all read about that? Oh man, that shit was messed up. Ray is a professional American football player who punched his fiancée square in the face, knocking her out cold while they were in a lift. It was all caught on camera. He then dragged her lifeless corpse out of the lift and… actually I don’t know what happened next. I guess she woke up and went home. But punching these assholes in the face by a team of professional American footballers seems appropriate, innit?

Something will go wrong

There’s no such thing as smooth sailing around here. Sooner or later you’re going to get screwed over and you’re going to feel like your world is falling apart. You’ll then probably question whether or not it’s all worth it.

The culprit could be a broken boiler that’s going to set you back a few thousand pounds (which you really can’t afford) or perhaps a shyster letting agent that deceivingly milked you for every penny, or most frighteningly, a tenant that doesn’t want to play ball.

You won’t know what to do, you’ll frantically research online and read similar horror stories on various forums, and then you’ll feel worse, shrivel into a ball and worry yourself to sleep. Unfortunately, most problems end up hitting you where it hurts most: your pocket. It’s generally quite a painful experience, like getting drop-kicked in the nuts.

On a sidenote, researching online is a double edged sword. It can make you wiser and feel more empowered, but it will often unnecessarily scare the shit out of you. I stopped diagnosing medical concerns online years ago, because everything pretty much lead back to cancer or an incurable STD that would see the demise of my penis.

The primary problem with being a landlord is that you’re ALWAYS relying on other people not to be idiots, and that makes you extremely vulnerable, because people are generally idiots. But essentially, no one is going to value your possessions as much as you do.

It’s ALL on you

It doesn’t matter whether you use a letting agent or your mum to run your affairs, because if anything remotely inconvenient occurs, the responsibility will ALWAYS navigate its way back to its rightful owner. The burden is permanently fastened to your ass like a cluster of hemorrhoids.

I don’t know if it’s down to genius marketing, deception or just pure stupidity (perhaps a combination of all three), but many landlords think they can pass their responsibilities onto a letting agent and void all accountability. Unfortunately, that’s not going to happen, not even if that’s how the agent packaged and sold the deal.

A letting agent is NOT going to stay awake at night chewing their nails off, worrying about your tenant’s spiralling rent arrears issue. It would be nice if they did just to prove they’re not entirely soulless, but they won’t. They’ll probably just rub their greasy mitts together and use it as an opportunity to up-sell their eviction services. You’re the one that’s going to worry and pay through your nose to get the situation repaired, no one else.

Similarly, if you fail to meet your landlord legal requirements, who do you think is going to get persecuted? Your agent? That would be super cute. But no. You.

Booms and busts

The natural cycle of every economy experiences growth and contraction. Booms and busts.

That means your property could be worth 100k today and 70k by the time you get woken up by your morning wood poking you in the eye. That could also mean negative equity for you, and once you’re wedged into that hell hole it’s often tough getting out alive unless you have disposable income, which leads back to throwing money at the problem.

The last bust in the UK occurred in 2007, but since then the market has recovered. However, some experts are anticipating another one closing in soon. So what does that mean for landlords? It means you can’t always start/stop playing the game when you choose- some times you either get aggressively thrown out by the teeth or you ride it out until the coast is clear.

Is becoming a landlord even worth it?

Yes. One hundred percent.

Play by the rules, be sensible, and you’ll make it through with good fortune.