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 Smiffy

10:35 AM, 9th January 2022, About 2 weeks ago

The title Landlord is very relevant and important. It says exactly what it should, that you are the ultimate controller of the significant asset that is invariably the only common ground between you and the tenant.

You should expect to be looked up to, it is your asset that you are allowing others to use. They are not entitled to that use, you permit it.

Diluting the authority you should maintain, just to appear nice, will only harm your position in the future.

Maybe those claiming to be "the buy to let community" are not really landlords anyway.

by Bemused

11:09 AM, 9th January 2022, About 2 weeks ago

Reply to the comment left by Smiffy at 09/01/2022 - 10:35
That’s why we get a bad name. I don’t need to be looked up to. I need to be treated and treat others fairly. That’s my boundary. Is what I’m offering fair? - and do my tenants behave reasonably and fairly? When there is potential for conflict I can rely on this to state my case. The transaction is based on a trade between me the owner and the tenant whose power lies in choosing to rent for money. Money that is my daily bread. I respect my tenants as people. I don’t need them to look up to me. For contrast consider old fashioned marriages where a wife was meant to be inferior to their husband. There are reasons we discuss these ‘woke’ subjects.

by Kate Mellor

12:12 PM, 9th January 2022, About 2 weeks ago

Reply to the comment left by Smiffy at 09/01/2022 - 10:35
You’ll be waiting until Hell freezes over before anyone “looks up to” landlords. You might as well say you’re a double glazing salesman in the 90’s.

I just stick with professionalism. I appear nice, because I am nice. It helps me sleep at night. It doesn’t mean I’m a pushover and anyone who thinks so soon finds out otherwise.

by Boble

12:54 PM, 9th January 2022, About 2 weeks ago

Reply to the comment left by Kate Mellor at 09/01/2022 - 12:12
Until a few years ago, I used to do a considerable amount of voluntary work. On one occasion, a co-worker who knew that I was a "landlord" asked if I did voluntary work to appease my conscience. I looked at him in disbelief and shock. Later that day he apologized. His question probably said a lot about him and his view of landlords.

by Bemused

12:55 PM, 9th January 2022, About 2 weeks ago

Reply to the comment left by Smiffy at 09/01/2022 - 10:35
That’s why we get a bad name. I don’t need to be looked up to. I need to be treated and treat others fairly. That’s my boundary. Is what I’m offering fair? - and do my tenants behave reasonably and fairly? When there is potential for conflict I can rely on this to state my case. The transaction is based on a trade between me the owner and the tenant whose power lies in choosing to rent for money. Money that is my daily bread. I respect my tenants as people. I don’t need them to look up to me. For contrast consider old fashioned marriages where a wife was meant to be inferior to their husband. There are reasons we discuss these ‘woke’ subjects.

by Old Mrs Landlord

14:42 PM, 9th January 2022, About 2 weeks ago

Reply to the comment left by Boble at 09/01/2022 - 11:19
I am glad to hear your business dealings are based on mutual respect and commmunication. May I suggest you extend the courtesy you claim to practise in your business relationships to your communications on this site. When Seething Landlord quoted chapter and verse from the Landlord and Tenant Act to support the legal position you were contradicting you replied accusing him or her of being a weird ignoramus! (At least I think that is what you were trying to convey in your two-line post featuring three spelling mistakes and a ridiculous made up word: "landlordees"! People will draw their own conclusions on who is the more deserving of the epithet Ignoramus.)

by Bemused

15:33 PM, 9th January 2022, About 2 weeks ago

Reply to the comment left by Old Mrs Landlord at 09/01/2022 - 14:42
I’ve drawn my conclusion! 😉

by Smiffy

19:26 PM, 9th January 2022, About 2 weeks ago

whilst mutual respect is naturally required in all business dealings, both parties in a tenancy agreement need to understand that the landlord is the one carrying most risk by committing far more to the agreement than the tenant.
The tenant brings nothing more than the promise to pay rent and treat your asset with respect. The landlord however, brings a significant asset to the table, along with the responsibility to honor agreements with lenders, shareholder, investors or quite simply his family. The landlord puts a lot more on the table, so should expect the elevated position in the deal.

It does not mean he should not be fair and reasonable, good business dictates that.

Some of us pre-date the "buy to let", phrase, it only came into existence in 1996, and some of us no doubt predate "Mortgages for Business" as well. It may well be that their captive audience survey only covers an inexperienced bunch of single property owners that want to just be modern and \"nice\" whilst farming out the management to an agent.

I, like I\'m sure others here that have had multiple properties for many decades, could write a book of short stories regarding how "nice and fluffy" all tenants are. Many are, but quite a few are not, and it is with some of those that one needs to stand up and act like a Landlord.

Ultimately, it is your asset and your income, be as soft and nice as you want, but my experiences mean I\'ll remain a Landlord.

Oh, every tenant I welcome into one of my properties I always say the same thing, "this is my house, but it is your home, please treat it like a home". One has been with me over 30 years, another over 25 years, I can't be all bad.

by Seething Landlord

19:36 PM, 9th January 2022, About 2 weeks ago

Reply to the comment left by Boble at 09/01/2022 - 19:23
Mindless insults do you no credit whatever and are the resort of those who have run out of anything sensible to say.

by Seething Landlord

19:53 PM, 9th January 2022, About 2 weeks ago

Reply to the comment left by Boble at 09/01/2022 - 19:48
On which planet is "Mindless ignaramus!" a "positive, constructive and well informed comment"?


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