On 8 Nov, 20:31, Ed Sirett wrote:
On Thu, 08 Nov 2007 09:06:45 -0800, normanwisdom wrote:
Nobody seems to have mentioned the ethics of BTL - the fact is that
it's a low form of capitalistic parasitism - hoping to earn money
merely by owning something that other people need.

My tenants probably earn more than me but I own
more than they do. So I TRADE their income for my property.

Providing a service which nobody wants.

Many people like to have a home.

Nobody loves a landlord,
I don't do it to be loved.

and BTL is a big factor

in cranking up house prices.

Yes and no. If it fuels a BTL bubble then yes. In practice the demand
(brought on by demographic and migration effects) is much more to do with
it.

Be warned - the bubble may burst at any time

I'm really rather the opposite of gung ho over business decisions.

and everybody will have a good laugh at the landlords in

difficulties.

All my properties are paid for, I doubt I will be in trouble, I have
relatively little sympathy for a short term BTL landlord who is not
committed to the long haul.

It is a useful activity managing rental property. I, say, manage housing
for a group of twenty somethings these are people who need a home but have
not yet acquired the skills or capital own or run a home of their own.

--
Ed Sirett - Property maintainer and registered gas fitter.
The FAQ for uk.diy is athttp://www.diyfaq.org.uk
Gas fitting FAQ http://www.makewrite.demon.co.uk/GasFitting.html
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I've no prob with people with skills running rental property in a
professional way. My objection is to the substantial number of new
entrants who just see it as easy money and an alternative to a pension
- they are also the ones who will bleat loudest when things don't work
out and probably expect handouts like Northern Rock investors.

cheers
J