Government warned for 3 years lending changes would create issues

[SueDonim]

Just passing through on the computer, mainly looking at Covid numbers which are getting scary. Our current project is a house we bought 20 years ago and can finally afford to do up "properly". All we had to do to keep it legal for the next tenant was a couple of fans and a bit of tidy up would have kept it livable.

But, it now has garage re-clad and re-roofed, now secure and watertight (it wasn't either before). New house roof just completed. Inside walls and ceilings have had the old pinex stripped off and will be re-gibbed (when we can get some). Kitchen is gone. To be completely rebuilt. Ditto bathroom. Re-wiring underway by the sparky. All flooring will be new. Partner does all the work he can, my role is backup: rubbish (eg piling up all the old sheets of iron); grounds (removing fence around old vege garden (that tenants have never used)); and of course keeping up with background support at home. Etc.

By the time we're finished the house will have been empty for about 12 months (ie no income) and the extra rent will take several years to make up what it has cost. The reward will simply be the income coming in off it in future and the fact that we won't have to be constantly fixing things for the next tenant. Plus the satisfaction of having provided a good service to that next tenant, whoever they might be.

But I'm just an evil landlord and you don't want to engage with me. You've read a couple of biased articles and have had a few experiences to call upon and think you know it all. So I'll just fuck off now and do something meaningful.

Why are you pitching me a sob story? You're an investor, aren't you? This is a business, is it not?

You were renting out an un-secure and non-weathertight property beforehand? And now you're being told to make sure that the house you rent out, at the very least, is at a livable standard that you yourself would live in?

Where exactly do you think the sympathy for your "plight" is meant to come from?

Besides, you also had the choice to flick that rental off in the state you had run it down to and still make a tidy profit no doubt.

Honestly, you can fuck off anywhere you'd like to if you're expecting people to feel bad for you.

Please READ. I said the garage was insecure and not weathertight. I said there was nothing really wrong with the house except needing fans. I said we are doing a whole heap of work we didn't have to. For the sake of the next tenant as well as our future well being.

This is not a sob story. It's a story to show you that being a landlord is not all you think it is. There is no plight to expect sympathy from. Just an expectation of respect for people who work hard to achieve a retirement goal that is a bit more than the GRI.

We had not "run it down". It was already a lot better than when we bought it, just not up to the standard we wanted. And as I said, we can finally afford to do it so are doing so. And yes, we could have flicked it off, but are not doing so because we are investors, not traders. Capital gain is pretty irrelevant.

Why are you so bitter and twisted?