Buy-to-let on landlord’s salary. LandlordLove is a leftist space for posting about all of the shitty things landlords do and/or cause. Suppose for every 200 tenants you have 1 landlord, keeping the renters happy and taxing them is a vote winner. $86,324. Average Salary for a Landlord. We live comfortably but I work in finance so among my peers I am on the lower end of the spectrum. £35k is not enough as a single person to have single occupancy rights to a property and still have enough after normal expenditure to save and not feel poor. It’s a big pill to swallow and doesn’t suit the narrative of London this year. What would you consider to be a 'decent' salary in London? Hi Everyone, I will be hiring a place. £40k would allow a bit of breathing space with luxuries and a decent amount to save. My wife and I used to manage on my pithy 21k salary back in 2011-2012 and her not much better 26k salary. I mean that’s the lower end of comfortable for me personally. Now is not the time to rush. I was wondering what you guys think a decent salary in London is? See what employees say about what it's like to work at Landlord Guard. Drug dealers behind the tesco near Cambridge heath station: the manliness of your bike is being called out. It’s flat hunt time again! (self.london). [–]Jiebo01 -4 points-3 points-2 points 2 years ago (5 children). So our landlord decided to sell our apartment we rent and appointed the agency to do the job. I did the latter and make similar money to you now but when I was interviewing about last summer I got so many sideways looks because of an "erratic" job history (all decent advertising jobs but never been somewhere really for more than a year), [–]redeyedcyclist 4 points5 points6 points 2 years ago (2 children). About four in ten report a gross non-rental income of less than £20,000. What would you consider to be a 'decent' salary in London. Such that you can afford: The original poster was asking what salary constitutes as high enough to save enough money and feel you’re out of the ‘poverty trap’. Salaries are not really a secret. but that's an average, including costly but occasional items … Yeah it is, and I'm what I would call "comfortable" for now. If you have a yearly tenancy, they must give you 6 months’ notice. Some former roadman areas are worth a bit more now, [–]Jiebo01 0 points1 point2 points 2 years ago (0 children), Gentrification. Mid 40s is probably the minimum to live comfortably. Save £4-500 of that and you’ve got £4-500 leftover for fun things. Hang on, so you wouldn’t consider any job paying under 60-70k to be a real job? We lived in Zone 4 in Southgate in a nice 2 bedroom flat above a restaurant. There is no salary, You earn what is left after paying your debt of the rentals. That being said I am only 28. Time lapse of London, St. Paul’s area, doing night shift engineering works at the cheese grater building back in 2014. The average gross non-rental income of landlords is £25,000 a year. At least 50k if you're single, 35k if your partner works. The head of the UK’s biggest student housing company saw his pay package grow to £2.7 million last year, with the figures emerging as many renters struggle in the pandemic and amid calls for the Covid crisis to … Have you guys been asked this? There is plenty of choice. I pissed away my twenties by generally celebrating idiocy. My partner is on about £29k per year before tax and pensions. I came here in London 6 years ago and was on 47k, had a mini studio flat (very central tho). News, ideas, blog posts, websites, resources, etc. Combined income of ~60k seems about plenty for what you want to do + some savings? Considering if one would like to rent their own place, I say £35k to cover all bases, depending on level of debt and how much said person would like to save each month. We are looking for flats again and have spotted a nice one. I have heard that if the landlord is paying for a credit or something for the rented house, that the tenant's salary would might affect the credit. If the landlord is the one managing the rental, any communication regarding the rental property will be between you and the landlord directly. People here always post crazy high estimates and they're just out of touch imo. Sorry I know many many others are in the same position, but it’s the reality. [–][deleted] 2 points3 points4 points 2 years ago (0 children). - 25/04/21, Westminster police issue dispersal order for Soho & The Strand "due to an increase in anti-social behaviour connected with licensed premises over recent weeks". For example, I've heard the rule 'your house-related expenses shouldn't exceed 30% of your gross', or 'the mortgage you can manage is around … I’d revise buying a flat to £80k though, unless you want to live with the roadmans. As someone further up has mentioned, it’s about feeling like you’re comfortable - there’s a huge difference between ‘getting by’ and ‘comfortable’. Soon realised we were getting ripped off as we had no idea how much we were actually using for Gas/Electric/Water and had a feeling we were being overcharged. The first guy just said £60k+ for zone 3... that's £3,620/month after all taxes. I wasted a lot of money on boozing, travelling and general nonsense. As of Apr 5, 2021, the average annual pay for a Landlord in the United States is $73,659 a year. If I was making close to 50k I would probably not have even bothered posing the question but I do find it slightly unjust that people like my partner work really intensive and demanding jobs that require you to live in London whilst also being severely underpaid. How is that the minimum he expects people to need?? Both your and your landlord’s name and signature. We are looking for flats again and have spotted a nice one. [–]Jiebo01 8 points9 points10 points 2 years ago (0 children). Debt: $0k. Food would be about £250 (at a rough guess, likely cheaper given I cook in bulk, but also allowing for extravagances). won't be able to buy lots of new clothes and stuff but you're not asking for that. They can’t live there anymore 👍🏻. I decided that this salary was £25,000 outside of London and £35000 in London. £35k in zone 3 at a minimum for all that imo, that will give £2250 a month after tax. I had exactly this to decide recently when looking at jobs in and out of London. It doesn’t exist anywhere else in the country, and the reason is because the average salary isn’t enough to live above the poverty line as a single working person if you want your own flat. [–][deleted] 6 points7 points8 points 2 years ago (1 child), [–]Lolworth 5 points6 points7 points 2 years ago (0 children), It’s decent but not “call Foxtons and tell them I’m coming” decent, [–]ShakespearesMum -1 points0 points1 point 2 years ago (0 children). A decent salary is exactly what you have described everywhere else in the country, except for London. Rendered by PID 11024 on r2-app-0a2262f3f893a5c42 at 2021-04-25 13:22:53.630831+00:00 running 0b4bd2e country code: UA. “A massive 94% of private landlords let property as an individual, with many renting out just one or two properties as a pension or for their main income. Doable at £50-60k? £60k + for zone 2-3 In general, rental contracts in the Netherlands should include: 1. [–]timlardner 4 points5 points6 points 2 years ago (1 child). The top 10 percent makes over $145,000 per year, while the bottom 10 percent under $51,000 per year. I’m really lucky to work for a company that pays Living Wage even to its staff at entry levels, but I’ve had colleagues working for other companies that pay absolute peanuts and I can completely respect how much people can and do struggle. Became a teacher 6 yrs ago. [–]KrypticEon[S] 3 points4 points5 points 2 years ago (4 children). Between us, we live halfway between Brixton and Herne Hill stations in a spacious one bedroom flat for £1400 per month. By that time though I had become an IT Contractor and was easily making more than double my 21k salary back in 11/12 and now make triple that with my … Good thing about London which I always tell people is that apart from your rent and travel costs you can live very cheaply day by day when it comes to shopping, groceries etc. /r/Landlord is a community for landlords to come together to discuss anything landlord related. Lived in London for a year with the gf l (used to live in Reading - what a dump) and I make ok money. Other (life insurance, brokerage): … We each have credit card debt from when we were younger (and more skint!) It is likely that you will pay close to 40% of your salary for six to twelve months to this person and their investment property. This is this is probably the most realist post here, however won’t be read by many others due to Reddit’s moronic nature. The only odd thing is that the landlord asked in the ad to tell a bit about our professional situation. An agreed Interesting responses. Not comfortable in my opinion but doable. 2020 ended with: Cash: $38k. Another £10k wouldn’t have made a huge difference at all. According to the survey, 53% of landlords plan to keep the number of rental properties the same over the next two years, with 11% planning to increase the number of properties they own, while 10% of landlords … Even if you're paying £2,000/month rent for a fancy place with even 2 bedrooms you'll still have £1,600 left over for bills and stuff. I feel like a dinosaur could pop out behind the tree any moment. Which according to a lot of you is way under what'd be needed. [–]wannabeIFA 24 points25 points26 points 2 years ago (1 child). Do your research online (Glassdoor is a last resort. Unconv… We got really fucked off with him and told the council who busted him and we then moved out 2 weeks later. What are your daily observations? add another percent for an older house (maybe ~25 yrs+) and/or extreme weather (harsh winters, storm risk, etc). [–]Lolworth 0 points1 point2 points 2 years ago (1 child), [–]amijustinsane 2 points3 points4 points 2 years ago* (2 children). Take out transport of roughly £150 and you’re left with £950pm. Find communities you're interested in, and become part of an online community! Rent & bills - £1100 a month (decent place, zone 3). Here For You During COVID-19 NEW! Some 70% of landlords have let property for six years or more and the average length of time that landlords had let property was 11.5 years. I make roughly 65k and my girlfriend makes around 45. How much money a landlord makes from real estate depends on how much real estate they own and the type of real estate owned. We accept posts from tenants looking for a landlord's perspective but please remember that the answer you get may sway in that … This has its pros and cons. don’t hang around waiting to be rewarded. Just curious, not intending to spark some grand debate about how one could easily cut down on spending. It depends on what you mean by decent. Really glad they closed Vauxhall Bridge for 5 months to install these cycle lane barricades. I wonder is the landlord able to learn the salary of the tenant? Two years later, my life had changed quite a bit. I would urge everyone here to switch jobs early and often to get proper raises. So it depends either u live alone and save more or share and have a bit more to spend but less privacy, [–]Combicon 0 points1 point2 points 2 years ago (2 children). [–]amijustinsane 4 points5 points6 points 2 years ago (4 children). Boozing, travelling and general nonsense sounds alright for your twenties! It’s flat hunt time again! Use of this site constitutes acceptance of our User Agreement and Privacy Policy. If it was enough, there wouldn’t be such a massive shared household market in london. Having such a low disposable income that you can’t go on holiday or spend £300 on an Xbox without saving for 2 months means you are poor. It's covid and we have 1 month old baby. general guidelines: a good estimate of annual average repair bills is 1% of the house's value. As a very rough rule of thumb, letting agents often quote that you can realistically aim to rent a flat costing 1/30th of your annual salary per month. When I think about my parents I can't even imagine having the kinds of savings they might have, where they could afford to get a family of 4 a holiday abroad for a week and still be ok (i.e. For reference, I live in a 1 bed (rent of £1365pm) with my partner and our combined salaries are about £65k. You can read the full posting from Reddit below: This one is a long one… but it’s worth it… Part One Landlord is jealous of my income, raises my rent $500. Average Salary. Plus they’re very unlikely to have a salary of 2.5 times the monthly rent, so will most likely fail the affordability rating. A landlord who owns commercial real … The killer requirement you’ve listed is the having your own solo flat. [–]redeyedcyclist 28 points29 points30 points 2 years ago* (7 children). Not sure if my bank balance agrees though. How did you deal with questions like this? Landlords in America make an average salary of $86,324 per year or $42 per hour. Starting salary was around 29K (I think). Crazy) but it was sold for that amount. While ZipRecruiter is seeing annual salaries as high as $121,000 … You can eat sensibly on £50 a week so that leaves you with £1.1k. Happy with everything I have. [–]trickyt1992 6 points7 points8 points 2 years ago (0 children), I live in Zone 2 (Westferry) im on 32k before tax and pension. We moved to a 1 bedroom flat in Zone 3 with an amazing landlord who charged us £1000 per month incl water and never once increased the rent in the 5 years we lived there. We split all of our bills in half except for council tax, which I pay to compensate for making slightly more money. 2. A single household in london earning £35k is pittance. This is the equivalent of $1,417/week or $6,138/month. After the landlord raised his rent by $500 a month, this man held out for years until he could exact his revenge — to the tune of $20,000.