I’m a landlord. Personally I would agree to the compensation. I once had a boiler changed with tenants in situ and asked the advice of the letting agent, who told me I didn’t need to compensate. The tenants had heat and hot water at all times - the immersion heater for hot water and several fan heaters.
However, damp proofing an outside wall is very different. Do you actually know what was involved?! They will have stripped off the plaster back to the brick, drilled a series of holes in the wall, installed the damproofing then rendered the wall and plastered. That’s a massive inconvenience in terms of filth, dust and noise not to mention the general disruption. And as you say, it all takes time. It can’t be fixed in a day as each process has to dry before going on to the next.
And as for some lls equating allowing pets to this disruption. The two are not connected.
I cannot believe some lls are saying tenants reporting issues are trouble makers. . They have to and responsible tenants will. It’s in their bloody contract. Just as responsible lls will repair their properties.
Laiste.
Most landlords aren’t making massive profits. I know this is hard to see and I’m not trying to pull violin strings. I’m stating facts. With the rise in property prices, new ll’s have been completely priced out of the market. The few properties I rent out could be afforded by a person earning around 50k a year with a 10% deposit of about 25k. But a landlord would need a minimum deposit of 25% and even then that deposit wouldn’t be enough because of loan to value and the deposit required would probably be more in the region of 100k. Now the government is phasing in paying tax on the entire income despite there being no physical income on the interest element. This will also shake more recent landlords out of the market. So although the government will be getting more money and landlords will be getting less.
I really don’t know where you’re getting your figures from that rents are higher than mortgages. The rental cost on those houses are 825-875pcm yet the mortgage for the home owner with a 25k desposit is circa 1k and will rise at the end of the fixed rate, and of course there are other associated costs, which add around 2k to the mortgage. At the end of a 2 year fixed rate, even first time buyers, who paid no stamp duty will be left right pretty much where they started as the first few years of a mortgage are mainly interest. So at the moment, it’s actually much cheaper to be a tenant than to try to become a homeowner. I could do same calculation on my home and the results would be even greater in favour of the renter.
All great and good that landlords are being priced out and sell off you may think, but people have got to have somewhere to live. The government does not have enough social housing and cannot meet that demand. Both the selling off of rental properties, stamp duty and and the tax changes have and will continue to drive up rental prices. You saw the attitude of some ll’s. This will also increase entitlement and encourage owners of nice, well maintained properties not to rent to people with pets, and in some cases people with kids. So these people will be forced to go to slum landlords, who are basically the scum of the earth.
Your anger is to a large extent aimed at the wrong people. Its not private landlords based in the U.K. that have pushed prices up over the last few years. It’s the invisible foreign investors laundering money and buying through companies in tax havens. It was reported in the news a couple of days ago that firms on the Caribbean islands own 23,000 properties, which is almost 1/4 of the number of properties owned overseas. And almost half of those overseas holdings are in London and therefore worth millions.