Rentier capitalism continues apace. Work really doesn’t pay in the UK anymore, and hasn’t for a while. No wonder we’re going backwards.
I’ve not put mine up by so much, but my six properties bring in around 22% more than last year with around 15% extra costs, so a 7% increase in revenue to me.
Once I’ve had them for another 6-18 months I’ll sell them as the rent up to that point will have covered all the costs in renovating them and the mortgages.
In 2024 I should be able to sell and take around 65-70% of the sale price. I can then reinvest on a bigger portfolio or just enjoy the money. I’ll likely reinvest some to some new properties for some ongoing passive income.
These profits only really apply to cash buyer landlords and corporate ones. I want to rent out a room or two to lodgers, but after tax, the cost of setting up the room, and the loss of space and freedom, it’s barely worth it. I’d be providing someone a home, but I’d be lucky to break even. The same is true of a lot of BTL landlords now too.
The headline is wildly misleading – the article says rent per property is actually down 8%.
The average property portfolio in their survey has gone from rising 6.4 properties to 9.2 properties (likely caused by smaller landlords being forced out of the market). So if the average portfolio has gone up 44% in size but rent has only gone up 33% it means that rent per property has actually gone down.
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Rentier capitalism continues apace. Work really doesn’t pay in the UK anymore, and hasn’t for a while. No wonder we’re going backwards.
I’ve not put mine up by so much, but my six properties bring in around 22% more than last year with around 15% extra costs, so a 7% increase in revenue to me.
Once I’ve had them for another 6-18 months I’ll sell them as the rent up to that point will have covered all the costs in renovating them and the mortgages.
In 2024 I should be able to sell and take around 65-70% of the sale price. I can then reinvest on a bigger portfolio or just enjoy the money. I’ll likely reinvest some to some new properties for some ongoing passive income.
These profits only really apply to cash buyer landlords and corporate ones. I want to rent out a room or two to lodgers, but after tax, the cost of setting up the room, and the loss of space and freedom, it’s barely worth it. I’d be providing someone a home, but I’d be lucky to break even. The same is true of a lot of BTL landlords now too.
The headline is wildly misleading – the article says rent per property is actually down 8%.
The average property portfolio in their survey has gone from rising 6.4 properties to 9.2 properties (likely caused by smaller landlords being forced out of the market). So if the average portfolio has gone up 44% in size but rent has only gone up 33% it means that rent per property has actually gone down.