James O'Brien vs landlord | LBC debate

[@mistsofbabylon]

Private landlords (and, of course, developers) buy up all of the properties in order to rent them out. Supply goes down, demand goes up. So that drives housing prices up and regular folks can't afford to buy homes. Instead, they are forced to rent from these people who use real estate as an investment. And then these private landlords have the gall to suggest that they are solving the housing crisis. The self-righteous stupidity astounds me. I will never say that being a landlord is easy, but please don't act like you are doing God's work.

[@Cashback13]

Unless they are actually BUILDING new houses and renting them out at affordable rents not BS 'Market' price. They aren't solving the crisis they are profiteering from a low supply versus a higher demand.

[@lestrem11]

If running rental property was cheap and easy councils would be buying up the properties and renting them out………

[@skrich9690]

​@@lestrem11 and where would councils get the money to do that?

[@lestrem11]

@@skrich9690 You are simply emphasising my point……it ain’t easy……..get it now?

[@TheAethur]

@@lestrem11 Margaret Thatcher's government brought in rules that forbade councils from borrowing for the purposes of buying or building homes. They also brought in right-to-buy which gives the tenants of the homes a right to buy them at below market rate. That is why councils are a tiny part of the rental sector now. Before these rules came in they used to be a large part of it.

[@peterm7548]

Why is she complaining? Buying a cooker for the rental property is an outgoing which reduces the profit and so the taxable income!

[@bad209]

its also counted as a loss so can be tax deducted - she can claim back VAT as well. she is a literal clown.

[@bob1234881]

Because she doesn't understand tax. 🤷 If she sells the house, she won't be taxed on the amount she puts in. I'm a landlord, and I don't think it is right that I pay lest in tax due to NI. However, the interest isn't fully tax deductible.

[@bob1234881]

@@bad209 she can't with VAT as rent isn't vatable.

[@zetectic7968]

@@bob1234881 VAT on the cooker!

[@Smith1hfhdhdjd]

😂😂😂😂😂😂 clueless

[@andy.435]

Landlords are solving a problem they have created, so no thanks is neccessary to them.

[@crankypantsmcduff]

My private landlord is a slumlord. My house is falling apart, he increased the rent, threatens me repeatedly and he does this with all 28 homes he owns, takes off on holidays and I've been waiting 6 months for my new tenancy agreement. He has the cheek to complain he has to do repairs. Don't buy homes and let them out if you pull your face and don't follow the rules when us tenants have to. I have no empathy whatsoever for private slumlords. Maintenance thats exterior and things like electric and gas and central heating and plastering etc are legally on the landlord yet i have to pay others to do it, my roof started leaking 6 weeks ago but he's more interested in his pub. I've started legal proceedings against him now. I'm disabled, my son has Cystic Fibrosis and my little one has a heart condition but thats all ok to live in a damp and broken home, he'll throw me out if i complain too much he says.

[@CarlDouglas-mh3bi]

@@crankypantsmcduff go to your council they have laws and rules that they can use to stop this

[@guymankowski3358]

My flat flooded. I spent days mopping it up and neither the landlord or the letting agent helped, though the leak was caused by the poor plumbing the landlord get his cowboy firm in to do. I didn't bill him for the extra water usage as I knew he'd increase the rent, when I already increased it thanks to Liz Truss' budget and he's so greedy he seems to genuinely think he can get more for it

[@CarlDouglas-mh3bi]

@crankypantsmcduff go to the local council and speak to them about him May also be worth contacting taxman He sounds like he's playing offfield

[@bartharris]

I hope you can get help from the council or the Citizens Advice Bureau.

[@ClarkLamontBeedie]

In the last 3 years I've paid 27,900 quid on rent on a property that's worth approx 200,000 if it hit the market tomorrow; that's a 10% deposit on a 300,000 property. The property was unfurnished other than white goods, the most the landlord's had to do is spend 150 quid to replace an old radiator; I've paid my landlord's deposit+7900 quid profit in 3 years and they've had to "invest" 150 quid of that back into the property; how dare these people try and claim they "work hard for their money" or they're somehow hero's for taking a deposit; Pay your F*CKING TAXES. If I buy a car and start running it as a taxi I shouldn't get a tax break on those earnings because "I'm providing a transport service".

[@razr8296]

boomers privileges'

[@youtubeyoutube936]

You missed out the insurance, gas check electrical check co2 monitor any management fees probably ground rent and service charge if a flat the risk that you won’t pay the rent or damage the property

[@katywalker8322]

And once they rent it out for the life of the mortgage then it is mortgage free.

[@---df5sr]

Your landlord is smart and you are not. No one forced you to rent. You probably made bad decisions in life and have bad credit or cant save for a deposit otherwise you would buy. Thats life matey

[@katywalker8322]

@@youtubeyoutube936 , and you miss out that after owning the rental property for 25 years the profilt is almost the entire rent, just minus those limited costs.

[@RatluBoogerbag]

We live in this weird world where landlords perversely believe they are Mother Teresa and Mahatma Gandhi rolled into one.

[@TalesOfWar]

Kind of apt you use those examples given they weren't quite as nice as their image is often portrayed in popular media.

[@pugachevskobra5636]

It's perfect, right!?

[@callummc1988]

There's an amazing cognitive dissonance in how the property has become unaffordable due to all the houses being bought up by landlords to rent out (for profit), and then they think the renters should be kissing their feet because they're "providing" them with housing (for profit)

[@uksam2000]

If you read up on what Mother Theresa was really like, you'd agree that landlords are probably very similar.

[@Tadao-Lao-q6t]

A man who owned a corner shop bought loads of homes around his shop in a not so nice area in my city. He made decent money from the corner shop and butchers so he decided to make the homes affordable for families. 25 years later the city and area is well short after and he has since passed away his sons manage his homes and he wanted it to continue being affordable for people as his dying wish. He also helped people who had problems with the law get back on their feet by giving them a job and reference so they could rehabilitate back into society. He was an amazing human and he has nice respectful sons. Still go to the store from time to time, just to support the family even though I do not live close to the shop anymore.

[@michaelmccarthy9411]

Bought, not brought!!

[@justhannah3960]

Cool story. But landlords are still leeches profiting from other people's dire need for housing.

[@hunsler1006]

Wow what a nice and irrelevant story

[@ASBOmarc]

Apparently outliers exist.

[@sonicwingnut]

Unfortunately though, this is the exception, not the norm. You basically just described what the government should be doing.

[@Standard_Jay]

" Landlords are solving a crisis "....they in fact helped cause this crisis. Buy to let mortgage products introduced in the late 90's bid up house prices massively forcing more people into renting. And round and round we go.

[@paulbird3235]

They think they have a right to charge as much rent as possible and give nothing in return! 😛🤪......

[@robmthe1st]

And ultra low interest rates made borrowing lots of money cheap, which also drove up house prices.

[@Standard_Jay]

@@robmthe1st Correct. Politicians and property "experts" will have you believe it's all about supply though , when in reality it's a crisis caused by financial engineering.

[@andy.underwater.videos]

Thatcher caused a large part of the issue selling off affordable housing, and not allowing councils to invest in new housing, that has caused the supply demand problem as i see it.

[@PAULJQUINN]

@@paulbird3235 I was a landlord I look after my tenant, but a lot of them didn’t look after me doing a runner I lost thousand pounds it never all way that easy

[@Fky97]

“I have to make the property I let out liveable??? Grrrrrr”

[@United-h7h]

People work hard to buy properties to let they aren't always easy to manage, maybe others should save and sacrifice to buy a house rather than blame landlords for their decision-making.

[@Fky97]

@@United-h7h how much do I need to sacrifice and for how long. Housing has gone from 4x annual income to 13x in no time. If they aren’t easy to manage, sell up - make sensible business investments and don’t penalise renters who don’t have a choice but to rent.

[@isaacgarry-madden4805]

@@United-h7h how can I save to buy my own house when I'm paying my landlord's mortgage to the tune of £1k every month?

[@United-h7h]

@isaacgarry-madden4805 There are plenty of ways to save, i am not your advisor or know what decisions you've made, where there is a will, there is a way.

[@United-h7h]

@Fky97 they aren't easy to manage but there are people who have earnt the right to purchase that are also willing to put the EFFORT in.

[@PsilentMusicUK]

"I've had problems every single month as a landlord" There's a very simple way to remedy this so you'll never have to deal with these problems again - don't be a landlord.

[@robbielad]

Yep.... I wouldn't do it again.

[@fumbleBumble82]

Yeah it's like they're annoyed it didn't turn out to be money for old rope and they actually have to maintain the property, and deal with their customer.

[@zoeloutay4734]

As if she's trying to pretend that buying a cooker is more difficult than doing a full time job 🤦🙄🤣

[@zetectic7968]

More likely than not she has bought a cheap one as she won't have to use it.

[@TalesOfWar]

@@zetectic7968 Given the number of things she claims she has to keep fixing it's pretty obvious she either has a very destructive tenant, or she's got the cheapest of the cheap stuff in there that isn't really fit for purpose.

[@globalist1990]

But she needs to clean the house, like no one needs to clean their houses....

[@globalist1990]

She learned about house refurbishment while doing set design at a theatre. It only needs to look it holds up.

[@kawallabair3216]

She never said what she had to do for a job. Given how entitled she is, her real life job might be just as easy.

[@brianferguson7840]

Tennants are buying properties Just not for themselves. They are buying it for landlords.

[@jeffsimon9594]

Neil Tennant from Pet Shop Boys?

[@Jts-s8k]

Exactly - the tennants should be given the right to at least partial ownership of the properties they are technically buying.

[@bg1616]

​@Jts-s8k not really. They have not taken any risk. Maybe if they commit to 5 years rent in advance or something but not pay as you go ownership. Get your own mortgage

[@MinkieWinkle]

So, no different if you rent a car. renters need to learn, you are merely paying to USE it. if you want to own one yourself. then go buy one

[@vvwalker7261]

Btl mortgages are typically interest only you dunce

[@alexfleet3741]

41% of council houses bought under the right to buy scheme are being let on the private market. So let’s thank landlords for the service they provide which seems to pushing up house prices as well as taking housing stock away from those on long waiting lists to get a council house. Let’s thank landlords for helping with the housing crisis that they contributed to.

[@custardeyes]

Yeah, over 2 million properties that could still be in council hands. In my area, a 3 bed council property is £108 a week while the average price for a 3 bed via private rental is £175 a week.

[@barbra7562]

I was just going to make that comment. Thanks to the Thatcher government that wouldn’t allow councils to use that money to build more social housing.

[@adammohamed..]

Simple solution , you cant get a house on right to buy and not rent it out. That gets rid of the 41%

[@barbra7562]

@@adammohamed.. I think you’re missing the point here. The damage is done because that 41%, is already in the hands of private landlords, with no replacements built. This scheme started 40 years ago. Once the person that owned it died, it was sold by whoever inherited it. The councils selling them at the time, should have been allowed to use that money to build another.

[@christine-ep4bx]

well which govt enabled that and why!

[@essealants3730]

This is the problem with a lot of private landlords they do not understand their resposabilities, and pile more pressure on their tennants because they are terrified of reporting issues because this is the attitude they are met with, Or the land lord then tries to increase rent, then issue a section 21 when the tennant says no chance.

[@belindamay8063]

@essealants. You are right. The core of this is the gross inequality of the relationship. One party is privileged - the other is not. No ‘contract” can alter this.

[@Ken-he5xe]

No landlord becomes one to ‘help’ with the housing crisis which is primarily caused by people buying multiple properties to make profit thus pushing up prices and causing those that have to rent to be priced out of the buying market. Most rents are so exorbitant that renters couldn’t save enough to buy even if they wanted to

[@ericreckless541]

Right so the housing crisis is caused by private landlords? Ban private landlords and there would be plenty of property? Nothing to do with supply and demand. Yeah , makes perfect sense.

[@Ken-he5xe]

@@ericreckless541 if you ACTUALLY knew how supply and demand works you would know that if a few control most of the supply then ultimately demand will outgrow the supply….. yeah makes perfect sense when you know what your talking about 🤷🏼

[@chetmanley1885]

​@@ericreckless541so if all the landlords disappeared overnight would the houses just evaporate?

[@ericreckless541]

@@chetmanley1885 Not being a member of the Magic Circle I have no clue what would happen if all the landlords "disappeared". However, I can speculate that if all the landlords sold their property to private owners there would be no property to rent for the people unable to buy. No property to rent imagine that?

[@michaelkimber6203]

This woman lives in a world of full entitlement. How dare she suggest she's solving the housing crisis. The tenant is paying her flipping mortgage 😡 and apparently should be grateful for a cooker. Gawd help us. Thanks James for reminding her of her responsibilities. 👌

[@iandavies6575]

If there's a big expense, say a new roof or new windows, the rent doesn't cover that. You can't ask the tennant for £15,000. you will take a long long time to get that money back. I put a lot of my pension money to buy the property. There's not a lot of money in being a landlord

[@colinwiseman]

​@@iandavies6575 no the rent of a month doesn't cover that. But the rent every month for 20 years does. Also in the 20+ years of owning that property, you can bet it will appreciate by more than £15k. So at the end of 20 years of renting, the landlord who only paid a tiny percentage of the cost of owning and running the house - the tenant(s) paid each month - then gets to reap the benefits when they sell the house. They take all the profits from the house. As well as all the profits from the monthly rent - (rent amount minus mortgage payment minus any costs spread over 20 years) PLUS all the profits when they sell the house. Every single interest payment on the property is made by the tenant. Let's say you get a mortgage of £240k on a property valued at £300k ie. 20% deposit. You've put in £60k. 4.5% mortgage rate for 20 years. Over 20 years, one or more tenants are paying back the mortgage. Total mortgage cost is £364k. Monthly payments of ~£1500. You as the landlord don't pay a single penny of that for 20 years. You've probably added £500 a month to the rent, so £120k profit in 20 years. Sure, take off a cooker, take off a roof, take off other bits, let's call it £100k rental profit as you can offset a lot of tax based on the costs to run the property. At the end of year 20, the house has appreciated 2% a year so is now almost £450k value. You don't have a mortgage. You haven't paid any of the £120k internet, so your bank account isn't down £120k. You have a house that is now worth £450k. Plus £100k rental profit in the bank. £670k in profit. 8% investment on that. In 20 years. Very simplistic numbers but you see why any talk of "cost" is highly outweighed by the benefits when they sell the property at the end of the mortgage?

[@dannygolightly865]

@@iandavies6575 liar. there is a LOT of money in being a landlord and if there were not, you simply wouldn't do it. as you own the house it is quite right that you can not make the person renting pay for it, as that would be immoral. this is a typical cry of those who ream in the cash but want to give the impression that they are hard-done-by. NONSENSE! if you fail as a landlord, you must be as bad in business as Trump and his casino

[@levanstein1]

Assuming her mortgage isn't interest only. Which I haven't heard her say so far....

[@ericsonofjohn9384]

The irony of you calling this caller entitled is beautiful. She bought property and uses it to make money. She is completely entitled to profit from assets she owns. You think you are entitled to take money from her (via tax) simply because she is more financially successful than you are. It is YOU who is entitled 😂😂.

[@joeknight6151]

She wants all the benefits of earning money from a property that is having its mortgage paid for by someone else without the costs that go along with it.

[@blueodum]

If it's too much work, just put the money in an index fund - your work will drop to zero and you should still get a decent return over the long term and you will STILL pay tax at a lower rate than earned income.

[@ericsonofjohn9384]

You can do what she's doing too

[@joeknight6151]

@@ericsonofjohn9384 you wouldnt hear me moaning about having to buy a cooker in my tennants property becaust thats my job. get over yourself love. you knew what you were signing up for

[@ericsonofjohn9384]

​@@joeknight6151 You're the one crying online about landlords using their assets to make an income

[@joeknight6151]

@@ericsonofjohn9384 not crying about that at all XD no problem if you want to do it, go ahead, but dont pretend its hard work or that replacing broken appliances that are part of the package is something we should feel sorry for you about. you know what you are getting into when you become a landlord, and too many of them expect it to be guaranteed income. it is not. Interest rates went up? too bad, you know they can do that, youll have to take the hit, just like everyone who owns a mortgaged property. if you wanted risk free investments, you shouldve put your money in a savings account, not a house.

[@mart099]

Double taxed. FFS this woman is living in la la land. Yes you paid tax on money you earned and pay tax on money you earn from rent. Different sources of income. Thicko

[@pampotter4549]

Actually, if you look at Section 24 then you'll realise that landlords do actually pay tax on money that they haven't even earned too. The only business sector in the UK that actually has to pay tax on money that HMRC know they aren't earning. Was brought in in 2015, rolled out over four years and forced over 400k PRS landlords to sell up.

[@shaunteasdale6613]

No, her point was she earned money that was already taxed that she used to put down on her rental property

[@mart099]

@@shaunteasdale6613 know that’s what I said. So are you saying the money she gets from rental property should not be taxed as an income she makes because she bought it from money that was already taxed 😂😂

[@shaunteasdale6613]

@mart099 I think you’ll have to re read my comment as I never said that rental income shouldn’t be taxed. She made the point that the deposit for her property had already been taxed (which is correct) . She has chosen to invest that money in a property and earn an income from it (same as buying shares , sticking it in the bank etc). But ultimately she is risking her savings for hopefully some return , and unlike buying say a commercial property via her pension fund she’s not getting any tax relief on the initial investment . Happy to have a sensible adult conversation without the childish laughing faces etc

[@alan2007-x8x]

Quite simply, if you buy a property then rent it out, you're removing property from the market. That pushes up prices. So why do so many rent now? Because they can't afford to buy. Why can't they afford to buy? Because people are pushing up prices through buying to rent out.

[@sakhter4044]

Yes many landlords who exactly are they can we have the details on this where is the data and statistics why doesnt the useless government show this.

[@SK-ei4cm]

Weird that all the hard working people I know have managed to buy a property whereas the mates that messed about still rent ..

[@RobertCampsall]

@@sakhter4044 You do realize, do you not, that most of the information you want is public record - you just have to request it (and pay a fee, most likely) to get it. But ti will take some effort on your part. Do you think the gov't should come around and individually hand out all such data every year? By delivering literal maintains of hard copy to every taxpayer?

[@RobertCampsall]

Where do you live for this to be you reality? In a great many countries private interests are buying up residential properties and then only renting them out as short term rentals, taking those residence's off the market as a place for a family to live, thereby driving up the cost of all real estate, while also removing a potential rental home out of the rental market, as well. Where is this magical fairy land where everyone can buy their own home?

[@jillkemp5521]

I am a landlord, my tenant is an elderly widow. She has expressed concern about me wanting to sell, but she has been informed that I won't sell whilst she wants to live in the property, she and my son have arranged a rent that she can afford, she is paying at least £55 a month less than other rented property in the area. If I sell, where will she live?

[@CC-jb5id]

Masked slipped, she’s annoyed she has to pay for the upkeep of the property she owns and not the tenant who is paying her mortgage for it If landlords could get away with it they’d invoice tenants for this

[@busta6971]

I rent and I've just been hit with an invoice from landlord because he wouldn't pay twice for an engineer to come out and fix the washing machine that he provided because it's on its last legs and he's too tight to replace it.

[@bb5979]

You should buy some property and show her how its done then rather than telling people what to do with their own property.

[@TheComputec]

if you think private landlords are bad, you want to try being a commercial tenant. The landlords expect you to cover all of this stuff too. If the roof leaks you have to pay to have it fixed. If the bog gets blocked up you pay for it. Its called dilapidation. They can even protect themselves from any losses if the tenant won't or can't pay as the contacts are extremely binding. You also have to commit to renting for 5 or ten years, but can be served notice if they want to put someone else in or tear it down and rebuild/redevelop. They can hike up the rent far beyond anything that resembles a reasonable rate if the property suddenly becomes more desirable and you are required to hand it back in exactly the same condition... repainted, new carpets etc etc No allowance for wear and tear

[@Jts-s8k]

@@bb5979 She is leeching off others to have the mortgage of her property paid so it is hardly her property in the technical sense.

[@TalesOfWar]

Some do.

[@quittalkingpish]

Always makes me chuckle when landlords are pressed and bring out the "we're providing a vital service" line. Yes, yes - I'm sure your thoughts when getting into the rental "business" was "I'd love to provide a service to society" and not "houses always go up in price, I can double dip with a property, get the mortgage paid for me plus some extra off the top then a big cash out in 5/10/20 years if I decide to sell". Can't roll my eyes far enough.

[@beepbop9]

Its truly insane isnt it. HOusing being seen as an investment as such a blight on humanity. Not only are they buying a solid appreciating asset that pays for its own loan (crazy) they want the profits out of the other end, which shouldnt really exist, not taxed (or taxed fairly)...

[@wayneford2481]

If you don't own the house you are getting the less well off to pay your mortgauge for you , when they could buy if they had the deposit.

[@blueodum]

Whoever built the house in the first place provided the vital service.

[@user-op8fg3ny3j]

This lady doesn't understand that it's impossible for some of us to get a mortgage even if we can afford the property. edit: Anyone else realised the title has changed?

[@OperationBlueprint]

How is it impossible to get a mortgage if you can afford it? Surely if you can afford a mortgage the bank would lend you money. Because they make money on interest. So it's in their interest to lend you the money.

[@tonycowin]

I have a mate who was saving up a deposit to buy a house because his rent was almost double the mortgage on the properties he was looking at. Along comes Truss and now he's back to square one. He recently bought a place with a couple year gap even though he could easily afford the mortgage as his rent payments proved. The rent payments that prevented him saving for the deposit in the first place. ​@@OperationBlueprint

[@MrSpanks]

​@OperationBlueprint - I believe this is what they mean (and it's my current situation) : -My rental payment is £600 per month (not Inc bills). -My landlady pays £270 in mortgage repayments each month. -ie. I can afford to pay off a mortgage. - What I can't afford is the deposit and it's impossible to save for a deposit (I'm my current situation).

[@lerhodes2236]

@@OperationBlueprint I guess a person might be able to afford the repayments but struggle to save a 10% deposit + fees etc.

[@gearoftones8585]

Did you know? All you need to do is cancel netflix and don't go to Costa! That's all you need to do and you'll afford a 20k deposit!

[@FenrisianAle]

One of the points the lady fails to understand is that, part of the reason people cannot afford to buy is that being a landlord is so profitable, that landlords purchasing homes is pushing the prices up. Where I live, if you choose a property at random, and assume you can scrape together a 15% deposit, the rent for that property is higher than the monthly repayments for the mortgage on that same property. So why not buy you say, because we have to pay those really high rents whilst trying to save for the deposit. A near impossibility. This also means that a landlord, only has to put up the value of the deposit, and the tenant will then pay the lions share towards the cost of the house which ends up being a nice nest egg for the landlord. I've lived in my current place for 6 years now, and have paid ~£85,000 for the privilege. My landlord in total has had to pay for one cooker, one leaking hot water tank, one electrical inspection, one gas inspection (yes I know they are meant to be annual) , one lock mechanism for the front door, and the carpets replaced, and that is it in all that time. Being really generous about £2500 of costs. He manages the work himself so no property maintenance company to pay. He bought the property 5-10 years before I moved in at the property prices back then, but my current rent is just over what my mortgage payments would be if I bought this house tomorrow at current prices with a 15% deposit. In the long term he'll own a house worth hundreds of thousands. Please don't try and tell me landlords work hard for their money.

[@ClareFlynn-y8w]

Landlords like her make it literally impossible for their victim tenants to buy a property. Rents too often higher than mortgages. Iniquitous

[@levanstein1]

@FenrisianAle hi. It's 25% for the deposit as a landlord. Assuming you're able to save 300 pounds per month that will take you around 7 years to save the 25k to buy a 100k property. Don't just skim over the fact that many landlords literally put their homes up as collateral and at risk if the investment fails. It's a complete gamble because if we jave another property market crash whilst doing that you could end up owing tens of thousands of pounds and be bankrupt. People like you live in a bubble.

[@FenrisianAle]

@@levanstein1 Ah the gaslighting, pretending that landlords are putting it all on the line for us. Okay, so they have to stump up a little more as a deposit, but everything else I said stands. The big problem with your risk assessment statement is that risk assessments come in two parts. The severity of the risk AND the chance of it happening. I don't doubt that SOME landlords take a big risk putting it all on the line, but the realistic chance of failure is very low. because let's face it, if it was such a big risk, why is property seen as the number one way to safely invest money at the moment. After the last housing price crash and the repercussions of it, every step is being taken to ensure that doesn't happen again. That's not to say it won't but it is very unlikely. Finally, why would anyone put their house on the line and risk bankruptcy if they didn't think there was a far better than average chance it would pay off. I think you'll find it is you who is living in a bubble.

[@Longlostpuss]

@@levanstein1 Where can you buy decent properties in today's market for £100k?

[@belindamay8063]

@FenrisianAle. She could always get out of the letting game if she wants to.

[@christhed8679]

Imagine having to work EVERY SINGLE MONTH. So hard, so sad.

[@bugaloo]

Working every day 😮…..it’s called LIFE! Get used to it

[@harryharrison2010]

Solve a crisis? People can't even afford to rent these days. Let alone buy.

[@iainwares6361]

Renters in UK are 35% of the 'market' and half of those are social rent. Germany over half of people rent, France around 40%, Denmark where I worked for years is 40% too. Norway is lower on 23% rental with a further 14% part owner, US is also a third renters. Why is there now such a clamour here about renting, you'd think it was the only country where renting was a thing.

[@5uper5kill3rz]

@@iainwares6361 Because the difference between what you leave behind for your family when you die when owning vs when renting is huge, and it's growing bigger, it's also quickly becoming the only way to afford the deposit for younger adults in a reasonable timeframe now

[@iainwares6361]

@@5uper5kill3rz Sorry, why is that not an issue elsewhere like Germany 55% renters, Denmark 40% etc. etc.. Why is the need to accumulate wealth through property to leave behind a thing in the UK more than anywhere else? My 4 kids have bought though with zero help from anyone, all by the time they were 26, but admittedly not in overpriced areas like London or expecting their first buy to be a minimum £300k plus mansion. You don't answer the question, why is the UK with 20% maximum private rental such a problem or an outlier when elsewhere as I've said there are e.g. 55% renters in Germany with 78% being private landlords, so 40% as against UK 20%.

[@BookBurrow]

Poor landlords. It must be so hard to have someone pay your mortgage for you. So stressful to have tenents bidding against one another for the chance to fork over as much money into your pocket as possible. My heart bleeds.

[@2nhalfpints]

No one is feeling sorry for them. They've worked hard paid bundles of tax and have bought an asset and you want to demonise them. You must read the guardian

[@blueodum]

@@2nhalfpints How do you know they have worked hard? Maybe they stole the money, defrauded someone, or inherited it.

[@guyverjay1289]

​@@blueodum- you are a fluckin more on

[@anonymoushuman8962]

@@2nhalfpints There is no point in trying to state the facts or our experiences with the people on here. It falls on deaf ears. They see the word “landlord” and they literally go insane. It’s not like this in America. Landlords are held in high regards. I firmly believe a huge majority of people in the uk simply resent any form of aspiration… and when they see the word landlord all their hate and anger is amplified… they literally see red and go bezerk.

[@2nhalfpints]

@@anonymoushuman8962 I know we will never prosper in the uk for as long as these far left people we talk about spread their woke ideology. Best of luck in everything mate 👍🏽

[@markhyde1970]

If she's repairing 'on a constant basis, in a brand new property' then it must be a dog awful build and she should be charging less for rent

[@Kashish4Eijaz]

or the tenants are reckless. seen it with my neighbour who moved in with his son after he had a few falls. and returned to a complete dump. there are the few who really cause a lot of damage. thankfully now they sometimes have a clause in the contract that the deposit can be retained if they damage the property. general upkeep is landlords responsibility but some really do cause a lot of unnecessary damage.

[@tussk.]

Landlords are solving the housing shortage problem by letting out properties that they bought to let, thereby creating the housing shortage that they're now solving by letting proprties that they bought...etc etc.

[@chatham43]

..interesting logic..ever thought of becoming chancellor of the exchequer?

[@chatham43]

...interesting logic.ever thought of becoming chancellor of the exchequer?

[@MrGrifft]

@@chatham43 I've seen you on LBC vids for a while... I can't for the life of me think of a single thing I've seen from you that isn't inane. Why is that?

[@guyverjay1289]

Er so why didn't someone else buy it? You act like some family was going to buy it but the evvvvviilll landlord swooped in and stole it.

[@vonwux]

@@guyverjay1289 It's very common for properties, especially at the 'entry' level, to receive numerous bids - I can't link on here but it's very simple to look up, you can probably manage. The simple fact is that landlords can afford to outbid other people because _they_ aren't paying for it.

[@mollyschannel9234]

It's her choice to be a landlord!!.. What is she complaining about!.. It's her property! Unbelievable 😂

[@kb4903]

Complaining about tenant wanting a cooker. lol

[@RichardStephens-bt6or]

Being a landlord is not a job

[@andrewrobinson2565]

Ever worked as a landlord? No? Thought not 😂🎉.

[@Cashback13]

@@anonymoushuman8962 for long periods you don't have to do anything, most of the work is setting up a new place to rent out and make look nice but these are one off costs not regular costs as is replacing the cooker which is down to it breaking she's not upgrading it is she! Even then this doesn't happen that often so having to buy a £200 cooker 7/8 into renting a house out at thousands a month is nothing. Plus she can submit it as a business expense for tax purposes!

[@RavenGhostwisperer]

@@anonymoushuman8962 Then the income from that should be taxed accordingly. Isn't that what we are talking about?

[@---df5sr]

Coming from someone who lives with his mother 😂

[@BobGolob]

Of course being a landlord is not a job... You have to be disfunctional to not think so.

[@jetmedia9602]

Maintenance of the property falls under the remit of landlord in respect to the fixtures and structural features, and yet this landlord moans about this... Prime example of the worst type of landlords that exist

[@TippedBalance]

The entitlement is disgusting.

[@kb4903]

That’s boomers for you.

[@---df5sr]

I know, he got handed a easy media job because of who his father is and now gets paid a fortune to sit down and lecture a small landlord on how easy her job is.

[@kb4903]

@@---df5sr it is easy.

[@mistsofbabylon]

@@---df5sr Totally agreed! I mean James is trying to convince her that her job is super easy, and she's trying to convince him that it's literally the hardest thing a human being could possibly do, and that we are all so lucky to be poor enough to never have to go through that herculean struggle. I just have to wonder, if being a landlord is so hard, why doesn't she just sell the second home and invest the money in the market instead? She'd make 10% a year on that investment and wouldn't have to buy anyone a new stove. Then she could save us all the whining.

[@leroymcnezz8846]

Not sure I'll refer to it as entitlement. Entitlement being those who believe they are deserving of something without earning it. She's quite literally the opposite (going by her story) of entitlement. Worked hard, sacrificed on luxury and made an investment. With that said, I'm an additional rate tax payer and whilst I'm not a landlord, would happily pay the same rate on rental income

[@jerryappleton6855]

As a soldier who works but also gets Dividends from investments: The Dividends require zero effort. The salary requires almost my entire life.

[@DanInAber]

Won't anybody think of the poor landlords... fml

[@robjo5954]

Yes! Thank you landlords for charging more than it would cost on a monthly basis to have a mortgage! Thank you landlords for being so strict that no one on a low income or has a slightly bad credit rating or is unable to provide a history of renting.... has any opportunity to rent!! Thank you thank you thank you!

[@gregadair1546]

Landlords are making loads of money, to solve a problem out of the goodness of their hearts 😂

[@VR-mq3jt]

I've just got out the world's smallest violin for the landlord lol 😆

[@drunkenbatdraws]

I'm a landlord. I'm very fortunate to have found myself in that position. And I can't believe the amount of landlords that are DESPERATE to pretend that somehow they're hard up. Yes, you can land a bad tenant, but tough. You own a second home, or possibly more, and it's not a freebie. It will require upkeep, it will require a modicum of attention to make money from it, the way any business does. If you went into it thinking it was a truly passive income that you shouldn't pay tax on, you're a buffoon. Lucky. But still a buffoon.

[@weswheel4834]

"I'm not here to examine your business acumen" :D

[@weswheel4834]

Also, I've just realised. When she has a "yield of 4%" that is presumably on top of the fact that her tenant is buying a house for her?

[@BumbleyBoo]

@@weswheel4834 Once upon a time yes, but it's highly unlikely that the rent will cover a mortgage now. Costs went up as well as taxes on LL's. They also get higher rates on BTL mortgages than you would on your own home.

[@alexharrison2743]

​@@BumbleyBoo have you seen rent these days? I know the market, and the mortgage on the place I rent would have been ~£900/month, Pre-Truss. Mortgage repayments have shot up, sure, but not doubled, and we're paying £1750/m in rent.

[@BumbleyBoo]

@@alexharrison2743I don't know where it is you're talking about so I cant really answer. If it's £900 a month mortgage with a 4% ish mortgage then the property must be very below average. That'd be like a £200k loan @ 35 years. I'd be looking for a new place immediately. ... also where is that? Sounds like best place in the country to be a LL.

[@BumbleyBoo]

@@alexharrison2743 For example there are places in Coventry for just shy of 300k. A 75% ltv @ 4% over 35 years would be £1000 a month. And they're being rented at £1300.

[@christinalloyd9566]

The total lack of social housing caused by right to buy introduced by Thatcher and which has never been overturned is a major part of the problem. Councils have a legal responsibility to provide housing for vulnerable people. Pre Thatcher it was much less of a problem because every council had a huge number of council houses to house these people. Now they have nothing and have to pay sky high rents to landlords who bought these council houses at knock down and I mean KNOCK DOWN prices. Maybe 20% of their their real value. This is the reason that almost all councils are now technically bankrupt. Purely because of the greed of Thatcher. My heart bleeds for this landlord on the show. NOT. If it is such hard work and you don't make any money on it then WHY ARE YOU DOING IT!!!!!!!

[@thecheesefactor]

A lot of Thatcher's ideas had an expiry date. People in the Tory party have failed to realise that. What worked in the 80s does not work now.

[@m20newell]

If private landlords are providing a service that is necessary, maybe they can charge the same for rent as social housing? They'll still make their money back, but it will just take a little bit longer

[@gearoftones8585]

It's the easiest money going. I've got friends who rent their old flat and they have to do very little for it. Collect the money every month, and pay the mortage with it that somebody else is paying for and you own at the end of it and we are supposed to think they're hard done by

[@chrisa1234]

Is tax calculated by how hard you work for it? Should someone who makes 30k sitting at a desk pay more tax than a chef who makes 30k sweating in a hot kitchen doing long unsociable hours?

[@iainwares6361]

New rent to buyers are whining as their 'profit' will be wafer-thin single figures, and appreciation ain't what it used to be.

[@originalbadboy32]

She lost when she started making out that if it wasnt for her and other landlords there wouldnt be anything to rent. It really gets my back up when people talk like that. Its a symbiotic relationship, you need us , we need you, and all landlords would do well to remember that, along with business owners and and anyone else who thinks that way.

[@johncobourne361]

Professional landlords/property types have tendency to be proper wollys.

[@wayneford2481]

In my youth we had a notorious landlord called mr rackman. The repairs were low and the rents were high.

[@budhoe-8862]

Maybe if they weren’t buying all the properties I would be able to buy myself one

[@ffgummipig]

Exactly!

[@---df5sr]

they bought all the houses did they? I see houses for sale all the time. What you mean is you can’t afford to buy. Don’t blame others because of your life choices.

[@wayneford2481]

Near me a school was knocked down and 40 houses were built on the site , very small houses and put up for sale ,when i passed the next day every one had a FOR RENT SIGN UP OUTSIDE . Is this why the young cannot buy a house ???????.

[@dannylad1600]

​​@@---df5sr, the properties available to buy are all unaffordable to most first time buyers due to more demand than supply all helped driven by people buying mulitpile properties.

[@aidandesilva]

@@---df5sr If you live in Greater London which has a massive proportion of the british population, then you are stuck at London prices which aren't proportion to the income you get there. I.e. in that part of the UK a higher % of your income goes to rent = less to put towards a deposit - in addition to higher requirements for a deposit. A lot of low paying jobs need filling in London and these are the renters who end up paying far less towards their monthly property cost since mortgages are cheaper. The people who typically have the least to spare have to pay the most.

[@MichaelJohnson-kq7qg]

She owns the property, which means her tenants can't buy the property and have to rent. She feels like her merely owning property is 'work' that she does.

[@R4STABAN]

Landlords really are vampiric creatures

[@kanedNunable]

i can buy a house for cash, rent it out and earn my money back in 8-9 years. such a tough job

[@beepbop9]

But you might have to buy a cooker... Dont forget that. Its quite serious. That could bankrupt you

[@---df5sr]

Why don’t you then?

[@garethmalone6658]

The average return on a rented property is 5%. That makes it 20 years. 😮

[@beepbop9]

@@garethmalone6658 What about teh asset value gain over the 20 Years? At point of sale the realised gains would be alot more than 5% over the lifetime of the investment.

[@dertery8724]

@@garethmalone66585% yield plus capital appreciation. The real return on investment is much higher than the rental yield.

[@hunsler1006]

Landlords solving the housing crisis? She told us it was a new build, she didn't tell us she built it from scratch 😂

[@trueminds1169]

Landlords are solving a crisis created by private landlords…

[@Cyderpunk]

they can't afford to buy properties because you've forced the prices by buying properties

[@emanuel1940]

If landlords are taxed then unless theres measures in place, that will just drop onto the rent their tenant pays. Renting out a property you pay mortgage for should be banned.

[@Fab666.]

That’s exactly what is about to happen. Every penny lost by tax increases will be past on to the tenant

[@Jts-s8k]

The following measures should be put in place: - Only bona fide residents in the UK should be able to own a residential property in the UK. - Property ownership restricted to one residential property per adult person or per family household. - The remaining residential properties go onto the market with a deadline of one month to be sold. With these measures, the UK's housing problem together with a large part of the cost of living crisis will be resolved within a few months ...

[@TalesOfWar]

Nothing has been announced yet, this is just speculation of what might be coming down the pipe. If they're doing this, then they're going to (hopefully) have said measures in place to protect the tenant from exactly that.

[@saga685]

Let's be real, she "has to do constant upkeep" because she's buying the cheapest possible fittings to kit out the property. Landlords routinely paint over mold and buy uncomfortable/inefficient furnishings that they would never put in their own homes, because that's why they bought the investment property - to get the greatest return for the least effort.

[@darkforest4891]

That's what happened with my last landlord. They spared every expense and ended up having to replace stuff.

[@CaptainSlackBladder]

She says solving a crisis, collectively are landlords creating a problem / crisis

[@treborkooc]

As an ex landlord I am with James as usual, he just speaks so much sense. Fair is fair

[@RR64434]

I own an income property and I don’t work hard to collect my rent on a monthly basis. The only time we do is when we change tenants which we haven’t done in 5 years.

[@BLUESKY-zt1nv]

"Lords of the Land" always find something to complain about .

[@Baxwell.]

What service is the landlord providing for a profit that a local council couldn't provide at a cheaper rate if it owned the same property?

[@GiveMeAnOKUsername]

Market rates instead of a queue.

[@dangriff12]

Ironically a queue created by landlords

[@Vaishino]

Renters can absolutely afford to buy a property, jesus. If you can afford rent, you can afford a mortgage. No landlord is charging their tenants less than they're paying on the mortgage, it's just the banks decided paying rent didn't count toward your credit score, how convenient.

[@user-uy6uc5ey5q]

No. First its not just converting a rental payment into a mortgage payment is it? You've got to come up with a deposit, in lot of housing markets round the world, a pretty substantial deposit amount. Paying rent, paying for all your living expenses and then on top having to save a large sum of money to get close to 10 to 20% of the property's value is much much harder than simple converting ones rental payments into mortgage repayments. Especially since there been a structural decline in average income vs property values to a massive degree. Many people have been saving for many years but the rises in average house prices outstrips their ability to get their saving anywhere near the figure they need to have anyone entertain offering them a mortgage. Regarding your idea about banks (or Govt) making getting a house mortgage without any real reference to credit scores, or that credit scores are calculated much more to a potential home buyers benefit, I give you the 2011 Financial crisis, which was mostly caused by the US home mortgage system collapsing. Which prior to 2011 operated exactly as you suggest. It was ridiculously easy to get a mortgage in the the US during the period beforehand, and people with awful credit scores and virtually zero savings were flooding into buying houses funded largely by the junk bonds. The aftermath of the collapse there's still whole US neighbourhoods where almost every house is abandoned due the "solution" you propose.

[@aa-fw2pw]

You forgot the deposit

[@nitsujism]

There is the issue of deposit and credit score status. But, yes, rent prices are generally more than the monthly cost of the mortgage.

[@rags-gamingandmore4714]

I moved out of a property with a number of issues. Mold in every room, insect infestation, boiler problems and blocked toilet sink. Landlord just refused to admit if we told him of any problems. Unfortuantely these are things that can only be notices once we start living in the property. For us it was literally the next day.The man usually first argued and then came around to do the work himself rather than hire a professional and usually took him several hours without results. Even attempted to fix a leakage under the kitchen sink that resulted in flooding the entire kitchen. Last straw was when we out of desperation, hired a plumber to unblock the sink. The plumber told us the entire sink needed to be replaced and the landlord just would not agreee. Thankfully we had a break clause in our tenenancy agreement and found a place to move to. Took us ages to get pur deposit back too. This isnt the first time we dealt with the kind of lanlords. They take the money without fail in the beginning of each month but fail to provide the basic facilities we need. They would never leave in conditions they keep their tenants. So sick of getting tricked by these rogue landlords.

[@HopeIsFleeting]

These poor landlords!

[@louispayne1291]

Landlords are just in the game for the money. Middle men. Borrow the money from the banks, buy the property, someone else pays the landlords mortgage on it and the landlord inherits the profits. It's not difficult. All the time house prices rise BC there is a lack of properties in the market to buy which makes the landlords richer. Don't feel sorry for landlords. They want to use other people's money to make themselves more money. Small risk, big rewards. My dad owns over twenty properties that he rents out so I do know what I'm talking about.

[@cjnewbs]

The landlord saying she is solving a housing crisis. The housing crisis is *caused* (in part) by landlords purchasing up vast swaths of property as an investment raising prices meaning that a deposit is unaffordable. She is essentially saying “yes I know I torched the house but because I’m also a fire-fighter I’m also solving the problem I caused”

[@osaodeh6735]

Imagine if houses were built for people to live in rather than buy up to make more money.....

[@gavinburke2572]

isnt there like tax credits an breaks for landlords when they have to buy goods for rental properties like a cooker? Also she never said anything like 'The tenant broke the last cooker as it was brand new' so you can assume immediately it was an absolutely barely functioning piece of equipment before she let them rent it probably has a max heat of 100 degrees and can't be on for longer than 30min, still works says the landlord!

[@CalcioClassics1992]

Yes. Expenses such as a cooker are allowed.

[@dangriff12]

Provided it's the same standard as the previous one.

[@tims8746]

How do landlords not pay the same taxes as the tenants? I'm a tad confused as to his point with this.

[@Cashback13]

Complaining at have TWO Sources of regular income and having to be actually taxed fairly on it like a normal worker would. WON'T SOME ONE THINK OF THE POOR LANDLORDS!

[@Khalkara]

These people are disproportionately narcissists. This woman is a prime example.

[@garybradley2171]

I find it interesting that the conversation around tax has focused on how money is made… just tax higher incomes more and lower incomes much less. Whilst you’re at it tax wealth as well… BUT START AT THE TOP AND WORK YOUR WAY DOWN!!! The Duke of Westminster and Rishi Sunak’s of this world will not pay a penny more in tax as a result of this.

[@guymankowski3358]

Salma can charge anything she likes to her tenant. If having enough money to make her a landlord doesn't sufficiently reveal she had fortunate chances, so does that. But to listen to her you'd think she was some sort of oppressed victim. Entitled, plus victim mentality. Sums of the attitude of many landlords. Every whine James instantly dismantled- there's no way the property is new and needs constant fixing and the tenant is destroying it- she'd get a letting agent if she wasn't so tight. Salma thinks because her husband has given her enough time to practice her gripes that it means they're well founded.

[@theoneandonlygus1]

Landlords are a strange breed, lol.

[@HalewoodHammer]

If you hate landlords that much. Don’t rent. It’s as simple as that.

[@beepbop9]

The other side of the coin. They not only are looking for a yield and profit the asset value they hold onto also appreciates. So we are only taxing the realised gains of the property. Meanwhile they are paying down debt usually 100% funded by the tenant on an appreciating asset. Houses have increased double figure pecentages in the past few years and they are still complaining that any tax changes are unfair. If i have stocks and shares that pay me dividends i expect to pay a fair percentage of tax on the dividends it pays. Housing is exactly the same. If you choose to invest, know the risks and costs associated to your investment

[@iainwares6361]

So what? You'd think the UK was unique in having rented homes, where in fact total rental is around 35% with half of that being social rent. Germany's over 50% rental, lived there and in Denmark, 40% rental, and no clamour about renting, much of Europe is as high %age as the UK rentals Do you think anywhere else differs substantially from the UK with having private landlords ? You're right, property does appreciate and you can also make a return on rental while paying off capital, again, so what? If indeed landlords are whining about income or capital gains tax then there's a solution - don't do it, spend your money elsewhere, invest or whatever to make money.

[@CharltonCharles]

@@iainwares6361The bootlicking landlord is out.

[@GeorgeMelvin-rc4sq]

If renting houses is such a marvelous earner why are all the major financial institutions and multinationals involved ? Simply because there is not enough money to be made and too much legislation and hassel

[@lukepardoe2583]

That woman is a highlight of exactly how every landlord thinks.

[@dub604]

"Nobody would rent if they could afford to buy". Simply not true. Not everybody wants to be tied down.

[@---df5sr]

Who want to be tied down to their own house when they could be enslaved to a landlord?? 😂😂 nice logic Einstein

[@blueodum]

@@---df5sr There are advantages to renting, as long as the rents are reasonable. But for the majority of the population, you are better off owning your home if you can afford to.

[@dub604]

@@blueodum I think a lot of people get a false sense of security when they buy a home, I've never understood why.

[@stevenmoore3480]

Absolute BS the vast majority who rent do so because they have no deposit, not becasue they work as locum doctors travelling the country just more convenient LL BS.

[@dub604]

@@stevenmoore3480 Nobody said otherwise love... calm down. The suggestion that nobody rents out of choice is just plain wrong, end of. I wouldn't personally dream of buying a house in the UK for example, the country is falling apart at the seams, why buy a house in Blighty? It only makes leaving more complicated. Just because you felt insecure and needed a security blanket doesn't mean we all do pet. 🤣❤

[@stevebassham9941]

I would love to thank landlords for buying so many properties pushing up house prices so we can’t afford one and have to rent

[@xbriskx]

This woman is so dim.

[@kb4903]

Just entitled and out of touch.

[@---df5sr]

She has more than one house. Can’t be that dim. How many do you have?

[@kb4903]

@@---df5sr yeah that’s how it works. Nothing to do with generational wealth and house prices.

[@Khalkara]

That's why she became a land lord. No wits required.

[@veganforever9703]

Not at all landlords have been battered

[@RosieAllen-zp8xo]

This is possibly the best James O’ Brien call. ❤❤

[@rorykellett3122]

How on earth was money made as a landlord from rent never taxed at the same rate the average person is on their wages? Never knew that! Also, how are landlords doing a service to this country exactly? By purchasing house to rent them out, you are reducing the supply of house available to buy, thus driving up prices leaving less people able to. And by renting out a property, generally the cost lets say £800, includes for the cost for the landlord for their mortgage payment of say £600, leaving £200 for 'repairs' and profit. So, not only does renting a property make it harder for an individual to buy their own house solely on price, but charging them more than what it would cost them in their own mortgage payments leaves them with less money in their pockets. If this lady is an example of most landlord things, this country is doomed.

[@JohanNordin-bq4tz]

If we didn't have people owning more than one property, the prices would be lower and more could afford them. Bit like it used to be 😂😂😂😂

[@xaldynnemo47]

The amount of boot-licking in these comments is mental.

[@lerhodes2236]

Cringeworthy too.

[@erushbass8326]

Yes, and James is clueless in chief.

[@Saarekelvaanmedic]

@@erushbass8326 No doubt you are the man who knows what 'clueless' means? Well done 🤣

[@thewholeroll]

It drives me mad when landlords say "I only get a yield of...". So what?! Every month your net worth goes up, paid for by your tenant! Just because you might not be able to access the majority of that money until you sell the property doesn't mean it doesn't count!

[@nevillekinsley5610]

Is James job harder than someone who digs roads?

[@daveangel7950]

No, he said himself being a radio presenter is easy. Landlordism is usury.

[@Wolves1963]

@@daveangel7950 That's a lie. About two years ago he stated that his job as a radio phone in presenter for 3 hours a day was harder than a manual job. It's on LBC's YT channel.

[@daveangel7950]

@@Wolves1963 did you even watch the video? He said it’s easy being a radio presenter. So I’ll go based on that.

[@Wolves1963]

@@daveangel7950 James O'Brien: I think my job is harder than manual labour | LBC. Check it out.

[@MinkieWinkle]

James is off his rocker, Rental income is ALREADY TAXED at the same rate as any other income. If i earn 15k from a rental. i have 3 k worth of expenses, then then my net is 12k ..... How much tax do i pay in tax? Well, if that rental income was my ONLY income, then i pay ZERO. since it falls into the 12,500 tax free allowance that EVERYONE gets for ANY income. no different to a part timer worker earning the same amount, they will pay no tax too If i already have a job, say earning, 25,000, and then i also earned 12,000 net, totalling a yearly income of 37,000 from rental on top of that, the ENTIRE 12,000 is subject to tax. i pay 20 percent tax, no different to anyone else earning the same money. that is fair, same money, same income same tax. If i earned enough rent to push me into the 40 percent tax threshold. then i would be paying 40 percent, just like anyone else does. Landlords ALREADY PAY THE SAME TAX AS EVERYONE ELSE. in what world is that unfair ?

[@vvwalker7261]

Exactly!!!

[@GeoffreyCousins]

This was a really strange debate. Firstly landlords do pay tax, any rental income after costs is taxed at the same rate as income tax, and landlords aren't able to take mortgage interest off as a cost (if they own the property in their own name), hence why many landlords are now making a loss and either increasing rents (up to market rate) or selling up. Also a landlord pays an extra 3% Stamp Duty charge to buy a rental property, and landlords pay Capital Gains Tax when they sell up, even if the house has only risen in value at the same rate as inflation. So James is just wrong in respect to taxes, I agree that being a landlord on its own isn't work, or at least is very little work, but I do take issue with the idea that landlords aren't taxed the same as workers. If anything they're taxed more. Secondly a rental property is an investment, I'm not sure why Salma is saying it's a lot of work when it should be fairly minimal, but that's the nature of an investment, if it didn't make you money then you'd invest elsewhere, eg in the stock market, or you would just go and spend the money.

[@kanishk4619]

Seems like james o'brien producers deliberately pick callers who are unable to challenge effectively. She also missed the point that CGT at the end is lower than income tax rates because without any indexation it's a tax on inflation

[@dangriff12]

They can get it at a cheaper rate than income tax if they are a higher earner and use a limited company to buy the house and pay themselves a dividend.

[@GeoffreyCousins]

​Okay perhaps but that's 10-15% of landlords and once you tax corporation tax and dividend tax together it's roughly similar, in any case I don't think that's what James is referring to. I think he's heard someone talking about Capital Gains Tax being lower than Income Tax and decided somehow that's unfair, whilst being ignorant of the other taxes landlords pay.

[@dangriff12]

@@GeoffreyCousins I do think there's a bit of a crazy mindset to buy a bunch of houses and then rent them out for more than your mortgage costs and then consider yourself as some sort of empathetic provider of housing. Rather than just being honest and realising your a middle person between the bank and the renter. If there was a smarter system all these renters who can afford to pay would all just be mortgage holders and there would be no middle men creating a lot more cashflow in society.

[@jameshill8711]

Brilliant James.

[@jeffsimon9594]

Shilling for James

[@thegoodsgone1965]

She's acting like it's awful to be a landlord and that it's not about making money, she's just doing it out of the goodness of her heart! 🤣

[@alfredotebasco]

I'm just becoming a landlord thanks to inheriting a flat. The tax is the same as the income tax, so, 20%, 40%, that's plenty. When I calculate everything including all the costs of letting agents fees, freehold fees, property management fees, lease renewal, maintenance, insurance, and TAX, there is not a lot left. I'm also charging BELOW market rate because I don't want to be a vampire. There is a profit, but it really isn't a lot, and all the responsibility is on me. The tenant has no risk. As someone that's lived all his life without a property believing one thing I'm now in a new position and have a new perspective. I'm lucky to be in this position, and I am benefiting for having it, but the yield certainly isn't enough to pay a mortgage. There are 2 types of landlords, those that squeeze and those that care. I'll be making a rod for my back by caring instead of squeezing. That's just fact. If you don't believe me you don't own a property and haven't had to consider this problem seriously. I'll accept there'll be loads of haters defacto of me being blessed by my father drinking himself to death at an early age and leaving me his flat, so I'm in a privileged position. We PAY TAX ON INCOME FROM RENT. If you don't understand that you don't actually have a clue about anything.

[@vhscampos1]

So just sell it off. No one is forcing you to be a landlord.

[@alfredotebasco]

@@vhscampos1 I can't "just sell it off" without losing a substantial amount due to the low lease, which I can't renew for 2 years. Besides I do that and someone else buys it and rents it for ABOVE market value there'd be even more tears wouldn't there. I'm not discarding the value I've inherited just to appease the likes of you, but I'm also not going to squeeze people. I've a right to inherit a family home and do with it as I see fit. Your simplistic response is typical of a simplistic mind.

[@GeorgeMelvin-rc4sq]

Exactly

[@RubberMammy]

Never has the phrase 'crying all the way to the bank' been more apt.

[@ajgillingham7412]

James O’Brien is a liar. He just twists words to suit his narrative. Never accepts anyone else’s views. Just over talks his guests and belittles them. He is a complete narcissist, loving his own voice so much.

[@airfixx_8952]

The woman is talking utter nonsense; don't be so blinkered by your dislike of the host.

[@MrMargaretScratcher]

Which part in this video was a lie?

[@ajgillingham7412]

@@MrMargaretScratcher at 2.12 he says it is far easier to earn money from rent compared to her other job. He has no idea. Easy lie to suit his narrative. He does not have a clue as to her circumstance. Just makes it us as he goes along.Never listens to an answer. Always thinks he is right, no matter what. Just a typical nasty bigot.

[@ajgillingham7412]

@@airfixx_8952 What a gormless and childish comment. Just because you do not understand the duties and responsibilities of landlords do not just jump on the socialist bandwagon. Educate yourself first.

[@airfixx_8952]

@@ajgillingham7412 - Meh..... For all you know I could be a landlord myself, Mr/Mrs Keyboard Warrior.

[@NigelStLewisBLACKSTHETICS]

How hard do you think she worked to buy the property in the first place. How much tax did she pay in purchasing the property. ?? Keep your head up landlords.

[@seanstanbridge7702]

Being a landlord isn't actually as easy as he's trying to make out I had tenants that were idiots with no respect for the property in the end on the advice and sactioned by the local council they refused to leave my property and didn't pay rent for 6 or 7 months, they broke the boiler which despite them, "for all intents and purposes", squatting in my property I was forced by the council to replace, costing in excess of £8k it took me several £1000s to get them out, all. Dueing their 3 years tenancy they behaved like complete a-holes, I was accommodating and helped in many ways often allowing them to pay less rent, the they became immediately abusive and threatening during that 6 months. During the 3 years I was taxed and with the subsequent bills for heating eviction, fixing of the things they had broken and the disgusting way in which they left the house and the cleaning bill. I reckon I lost money during that 3 year period.

[@finnhagan7664]

If you want to treat property as an investment, there is risk. That's how investing works. It's a shame that you had disrespectful tenants, but what did you expect?

[@PhilosophicalZombieHunter]

You can increase the tax on landlords as much as you want. They won't be the ones paying it.

[@neiljones9005]

Unless you’ve rented out properties you’ll never understand how difficult it is - so don’t comment and act an idiot like O’Brien

[@TalesOfWar]

He has. As he's mentioned, multiple times over the years. He even brought it up in this very show but this is only a small clip from it.

[@petejunebug]

Triggered

[@Cdd923]

THE MONEY I EARN FROM WORK IS EASIER THAN THE MONEY I EARN AS A LANDLORD - that’s why I’m selling my rental properties. It’s always people that don’t own rental properties, that think it’s easy money.

[@OwenB-o5v]

Berating landlords is the politics of envy. Nobody wants to be in the landlord's shoes when they have a mortgage to pay and a tenant living rent free in their property when you're waiting for a court date to evict them. Often times the landlord is working to pay the mortgage on the home they themselves live in.

[@daniseal652]

If you leave before you're forcibly evicted, most councils will class you as intentionally or voluntarily homeless, and therefore, you go to the very back of the queue for hostel space if you are even allowed into the queue immediately. So maybe take it up with councils who are desperate to get homelessness cases off the books and use intentionality as a way to reduce the figures.

[@SashaGrace94]

But it’s your choice to be a landlord - you could have invested your money in so many other ways like the rest of us lucky enough have a few £ left at the end of the month. It’s your choice to do this and nobody is going to have any empathy for that. Were you forced to buy a second property at knife point?? I’m a chartered housing professional btw and my entire MBA was studied around housing and homelessness so please don’t try to patronise me about the housing market, I know exactly how it works.

[@OwenB-o5v]

@@SashaGrace94 of course being a landlord is a choice for those who are able and chosen to be a landlord. The issue is not the choice one made in becoming one it's the increasingly critical attitude of others who would like to treat landlords like they've committed a crime. You may well have chosen to invest your money in a portfolio that invests in companies that trade arms; manufacture chemical weapons; support unethical causes; mine the resources in under-developed countries. Unlike your investments landlords know exactly where their income is derived. For all your MBA studies it's a pity that you slept through whatever module the course had that could have taught you empathy or a little knowledge of the world we live in.

[@SashaGrace94]

@@OwenB-o5vI have empathy for the countless people on a waiting list for social housing in the county where I work who have suffered at the hands of private landlords. I see it day in, day out. If you want private landlords to be respected, you have to earn it. Too many of you have treated your tenants as cash cows and dodged your responsibilities while hiding behind the false pretence of ‘providing a service’. This lady on the phone is a prime example. I paid tax on the money I earned for the deposit is a pathetic argument - how much are you paying on the value appreciation of the asset? Capital gains isn’t currently as high as income tax in percentage terms. Nobody is saying don’t be a landlord. People are saying that income derived from investments should be taxed at the same rate as income that is earned through work and that is an entirely reasonable expectation. I’m a high rate taxpayer and I work hard for that income. I’d happily pay extra tax on anything I’m making outside of work because I’m not working anywhere near as hard to earn it. You may be a model landlord, but so many of them aren’t. We work with them and see the condition of the properties, there are too many bad landlords in the business and only landlords can change that.

[@Fab666.]

@@SashaGrace94 landlords are getting a bad rapp, they take a financial gamble on the property market in the hope that it doesn’t collapse in exchange for a monthly rate of return. An increase in tax on this monthly income doesn’t equal any less of a risk on that investment. The government are not volunteering to share the gamble that property will always hold its value, or that the tenant won’t abuse squatting rights for a very long time, or that the tenant won’t blitz the property and leave. just ask the Americans in 08/09 who got decimated. And you can’t pay appreciated property value tax on an asset you have not yet sold, that’s ridiculous. As the property sold price could be £1.. if the owner chose it to be. An unrealised amount isn’t yet real And I’m not a landlord. I used to manage the waiting lists for property across a borough for council housing. And it’s upto legislation to improve the sector and not private landlords, government could decide if rental controls were implemented tomorrow.. but they choose not to because half the members of parliament are landlords and the same goes for members of the House of Lords. Property prices in the UK are priced at an average cost that reaches the upper limits of affordability for someone on the average uk salary for a very specific reason… and the same goes for rental costs. This increase in tax that will probably be implemented soon will simply get past onto the tenants at the end of the day, and nothing positive for the sector will have been achieved

[@craigevans6156]

This woman’s argument is bizarre! If her property has a broken cooker, then she needs to replace the broken one!

[@hamzah3138]

All landlords should sell their rental properties and we can all go and live with James.

[@Ian-mj4pt]

So your issue is with him not with the landlords I can assume you are obviously a landlord

[@jackpola1242]

No, they should all sell their rental properties so that others can afford to buy a home

[@FreeWareFrolics]

Sorry am I missing something? My understanding of property income tax is as such: She states she is working and this is a side business then her tax is taxed at the same rate as everyone else if property is in her own name as her tax relief is taken up by her employed job. If not in her own name, but through a company then she will be taxed approx 26% if she is basic rate tax payer and 47% of she is higher (80% corp tax + dividend tax)

[@FindingYou467]

James, serious question... The second (buy-to-let) property you owned for nearly 6 years that put you on your way to becoming a "property millionaire" once you sold it, I'm assuming that doesn't count in this conversation, right? You remember the one, the Grade II listed cottage that you rented out for over £2k a month... Just to jog your memory further, it's the one you made over £120k in rent from and the one you bought for £325k and sold for around the £645k mark back in 2014. The one your wife wrote about in the Evening Standard, it's that one.

[@Khalkara]

What point do you think you're making?

[@FindingYou467]

@@Khalkara Why play the fool? You know EXACTLY the point that is being made! The guy is lambasting people for doing something that he has done himself, to the tune of around £500k profit... He is a hypocrite at best.

[@Khalkara]

@@FindingYou467 I'm not playing a fool. I'm asking a fool if they realize they sound foolish. I guess your reply means you don't. "He is a hypocrite at best." This is delusional. At no point did he criticize the concept of making money by renting as being inherently bad. All he did was point out the obvious, that not doing labor isn't doing work. There is no hypocrisy here. You're just triggered he isn't licking the boots of landlords.

[@FindingYou467]

@@Khalkara Imagine being this offended about an opinion that somebody holds towards another person totally unrelated to you. It's cult like behaviour mixed with narrative creation, ending with incorrect assumptions. It beggars belief.

[@Khalkara]

@@FindingYou467 You got some heavy projection there with the "cult like behaviour" bit. You need mental help.

[@fredsmith1970]

I've paid tax on my wage (at source) so I shouldn't then have to pay tax on the money I spend? (or futher income I make) So no VAT, no road tax, no fuel duty, no insurance tax... sounds great... where can I sign up 🙂

[@mansnotbot4160]

I can imagine Salma's husband doing a David to Victoria Beckham: "Be honest."