Don’t use the ‘L’ word

Don’t use the ‘L’ word

8:32 AM, 5th January 2022, About 3 weeks ago 71

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The majority of the Buy to Let community say they would prefer not to be called “landlords”, according to research from mortgage intermediary Mortgages For Business. Some parts of the US media, including regional divisions of NBC, have reportedly stopped using the word “landlord” due to complaints from the community.

When it came to the UK, 59% of those surveyed by Mortgages for Business said they wanted the British media to stop using the word “landlord” and that the term was dated.

When the Buy to Let community was polled on their preferred name, 43% said “Small Housing Providers”, 36% said they would prefer to remain “Landlords”, and 21% opted for other options including “Rental Accommodation Provider”.

Gavin Richardson, managing director of Mortgages for Business said: “Sections of the media have vilified the buy-to-let community.  The government has hammered them – think Theresa May’s 3% Stamp Duty surcharge and other tax deterrents.  It’s got to the point where the buy-to-let community doesn’t want to be associated with the term ‘landlord’ anymore.  The term carries much more baggage than it once did. No wonder the community wants a rebrand.”

Additionally, 73% of those surveyed said they felt “unfairly portrayed as this generation’s financial bogeyman”.  Only 8% felt that landlords were not “financial bogeymen” at all while the remainder accepted that their notoriety might not be entirely unwarranted.

Gavin Richardson said: “The majority of landlords are paying 40 per cent tax on their rental income – plus stamp duty – which means the Government is profiting hugely from Generation Rent.  And to what end?  Hammering landlords over the last five years has done first-time buyers no favours – research from Nationwide suggests first-time buyers now need to save a huge 113 per cent of their annual salary for a typical home deposit of 20 per cent!

“What would happen if we took landlords out of the housing equation?  The impact on the property market would be significant and almost entirely negative.  It’s not as if the Government is pouring money into social housing – or making any progress on house building.  Frankly, the Government should be championing landlords and lauding their contribution to the housing sector – landlords are bailing the Government out!”

“On top of that, millions of Brits face a financial crisis in retirement by not putting enough money aside for their pension.    Two thirds of employees aged 45 and over face poverty in old age unless they act soon.  One in five Britons say they have no form of private or workplace pension.  It is regularly drummed into us that we need to invest for a comfortable retirement.  And yet, when people start building a nest-egg – investing in property to try to ensure they have an income for their retirement – they are reviled!”



Comments

by Seething Landlord

11:26 AM, 8th January 2022, About 3 weeks ago

How about Accommodation Solutions Supplier, which would at least have a memorable acronym?

by Boble

12:01 PM, 8th January 2022, About 3 weeks ago

Reply to the comment left by Katy Ann at 05/01/2022 - 09:44
I refer to myself as being a property investor, as that is what I am. Landlords are investors in property. I am certainly not a housing provider; I leave that to local authorities and housing associations.

by Seething Landlord

12:11 PM, 8th January 2022, About 3 weeks ago

Reply to the comment left by Boble at 08/01/2022 - 12:01
A property investor becomes a landlord when he rents out the property to a tenant. The terms are not mutually exclusive.

by philip allen

13:10 PM, 8th January 2022, About 3 weeks ago

Reply to the comment left by Seething Landlord at 08/01/2022 - 12:11
I refer to myself as a property investor as I lease my properties to housing associations who then house tenants under ASTs with the housing association's name as 'The Landlord'. As some of my properties are leasehold flats the freeholder named on the lease is referred to as The Landlord of the property. So, two Landlords neither of whom are myself!

by Boble

13:28 PM, 8th January 2022, About 3 weeks ago

Reply to the comment left by Seething Landlord at 08/01/2022 - 12:11
If a person owns a chain of supermarkets, that doesn't make them a grocer. They are retail entrepreneurs.

by Seething Landlord

13:32 PM, 8th January 2022, About 3 weeks ago

Reply to the comment left by Boble at 08/01/2022 - 13:28
Why are they not also grocers?

One major chain refers to itself as the nation's favourite grocer.

by Boble

13:39 PM, 8th January 2022, About 3 weeks ago

Reply to the comment left by Seething Landlord at 08/01/2022 - 13:32
Because the business trades as a grocer. Which does not make the owner a grocer. More likely an investment vehicle, the business of which is to enhance the value of the grocery business in which it is an investor.

by Seething Landlord

13:41 PM, 8th January 2022, About 3 weeks ago

by philip allen

13:49 PM, 8th January 2022, About 3 weeks ago

Reply to the comment left by Seething Landlord at 08/01/2022 - 13:41
Do you mean 'property investor'?

by Smithy

13:56 PM, 8th January 2022, About 3 weeks ago

What I really dislike is 'Landlady'. It doesn't even suggest some kind of feudal arrangement - just that you (or more likely your husband!) are the proprietors of a pub!
If you were to fill out a form which asked for occupation (perhaps for insurance) - and you put down 'landlady' - would you be categorised as a housing provider - or bar staff?


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