To wonder how Labour’s Right to Buy on privately rented houses would work?

[Bearbehind]

Just read something this morning about Labour proposing Right to Buy on privately rented properties - how would that actually work?

How can they force a private landlord to sell at a discounted rate?

Also, if one of the requirements is you have to have been renting the property for several years, that’s just going to lead to less secure tenancies because landlords will make sure tenants cannot qualify for this.

It seems like a bonkers idea to me

HAs are private landlords and currently offer RTB.

I don’t need to convince you but I can promise you I have modelled enough complex scenarios on exactly this to know it’s more than possible and what’s more, not a big deal.

But that’s ok mummy, they can chose to exit the rental market if they feel they will be vulnerable to whatever circumstances mean they have to offer RTB. It’s no loss to society, only them personally.

AFAICR in both London and the US, government's meddling in the rental marke via rent control, led to vast swathes of cities being run down and a decrease in properties for rent.

I'm not a landlord, never have been. I've also never rented so I have no skin in the game.

However if I was a Landlord, with maybe one house that I was planning on using the income from to top up a pension when I retire I would be very annoyed if suddenly I was forced to sell that house. Regardless of whether it was at a discounted rate or not. But Obviously I'd be even more annoyed if I had to sell at a discounted rate.

I seriously believe that if the Labour government are elected, Mcdumb will become leader of the party and one of the first things they do is replace the House of Lords.

Just like I seriously believed trump would be elected (and will be elected again) and that we would vote for Brexit.

take the piss all you like. but its been mooted for years that the Lords needs replacing with an elected second chamber and I believe there are a large number of people in this country who either positively support this or are just too apathetic to realise the importance of an independent second chamber.

But that’s ok mummy, they can chose to exit the rental market if they feel they will be vulnerable to whatever circumstances mean they have to offer RTB. It’s no loss to society, only them personally.

It's a loss to society if there are no properties to rent.

Those people who are forced to use slum landlords are the least likely to be able to afford to buy a property

This is a very good point, and one I hadn’t thought of. Yes, if the target is the lower end of the rental sector, then these are likely the tenants with the least to spend on housing, so even if there is legislation to enforce a landlord to sell below market value the properties are still going to be unaffordable for those tenants.

There will be plenty of properties to rent. There are plenty of corporate landlords happy to step in. They’re desperate for property, they have no problem taking a few reluctant landlords houses off their hands

it demonstrates how a Corbyn state would view all private property as fair game and would destroy the economy and faith in property rights which underpin it

You're in danger of bringing common sense into it, mateysmum

Crafty of anyone to suggest it would only be for "slum landlords" though, when anyone can see this is the way it could be sold … and then swiftly rolled out to cover the lower hanging fruit of ordinary, decent LLs. Ditto the thing about government "making up the difference", which is hardly likely to appeal to the likes of McDonnell et al

Those people who are forced to use slum landlords are the least likely to be able to afford to buy a property

Yet another unfortunate outbreak of common sense ...

When the conservative government last mooted this it was sold as a way of achieving their aim of more (as much as possible) home ownership. Just depends how you spin it doesn’t it?

What’s happened to all the complaints about BTL landlords inflating property prices which mean others are priced out?

passthecherrycoke - have a look back at some of the reports done by around the time of slum clearance. Harder to find these days than when I worked in an Inner london borough but make interesting reading.

yes of course people can duck out of the market. but the people buying the properties often over stretch themselves and cant afford to keep their owned properties in good order. In the 50's and beyond there used to be housing repair grants to help people to do this. these have gone. look at what happened in the USA in the financial crash. home owners walking away rather than paying the mortgage.

Has the detail actually been explained? They never seem to be that hot in detail.
It’s all about making the right noises. Or the wrong ones, from my perspective

This isn’t in any way connected to slum clearance. I assume the reports to which you refer aren’t readily available so I won’t be able to do that.

It's a bonkers idea that will never happen, mainly because few will vote for labour with their bonkers ideas.

googles a wonderful thing cherry. have a look see what you can find.

no its not connected to slum clearance but it is the same mentality. People living in sub standard properties being exploited by nasty landlords who wont do repairs and throw them out on a whim or allow overcrowding etc. You cant see the correlation here?

Of course McDumb will start with the bad landlords. we will all agree with that. and then extend the law to cover ANY landlord. and even those with no stake in the game at the moment have no idea whether they might have in the future. No one knows if they are going to suddenly have to move house to go with their job. No one knows if they are going to have to deal with a home owning parent getting dementia and having to live with them so you rent their house out to cover your expenses. Just because its never happened before doesnt mean it cant happen in the future.

What else can the Labour Party think of to ensure it doesn't get elected by mistake?

I don't know the answer to that, but it's quite entertaining in the meantime to watch the crazy ideas trickling out

But what do you actually mean mummy? What you describe only sounds like a good thing to disincentivise crap landlords

It’s despicable to buy up property in order to make income from it. I feel really sorry for renters in this day and age. Rent is usually more than the mortgage payment on a similar property. Anyone who owns four houses is greedy.

Btw I don’t disagree with the idea- as I say it’s a simple idea, not new or revolutionary.

It’s been suggested by governments on both sides before.

Potentially increases home ownerships and limits house price inflation from BTL (although honestly I don’t think it will have enough impact to do either as sales are likely To be very limited- most people wouldn’t notice if this was introduced next week)

cherry the way to deal with bad landlords is not to pass a law to force them (and every other landlord) to sell their property to their tenants.

Laws already exist regarding repairs, overcrowding etc under various Housing Acts. the problem is that there are not enough officers in Local authorities to enforce them. more enforcement officers, more repair notices on bad landlords, more works in default notices for those that dont do the repairs, more recovery of costs as charges on these properties, more money coming into Local authorities, more people employed in Local authorities, more properties in better repair and order for tenants. Its not rocket science.

cherry I think the issue here is you are talking about this only affecting corporate landlords whereas the rest of us are assuming it’s targeted at the likes of the PP with their 3 properties.

I think what bothers me is the cynicism of labour. They promise things that simply can't or am unlikely to get through in a bid to win votes.

They pick a disenfranchised section of society and go after it, kids and tuition fees, nhs workers, private renters, and promise them all sorts so they can get some votes. Every time it's a one trick pony. They lose and the truth comes out, so they go after another section of society,

It's horrible as some people desperately believe this shit. They think they will get cheap housing of all things for God's sake.

Corbyn can't even command his own party to unite. Never mind the country and two houses of opposing parties and members, Many, many of them hate him and would do anything to see him ousted,

And we have people on here desperately trying to play it that Corbyn could win, be could win my a great majority, he could abolish thr House of Lords, he can enact a bill forcing people to sell their assets cheaply, he could get support and get it through both houses.

It's terribly sad because he goes after the vulnerable in society. He doesn't even want to be prime minister, he just wants to do enough to justify his position and keep him where he is. Leader of the opposition.

It's so cynical it's sickening. Say what you want about the other parties but they don't pull this shit, they don't go after the vulnerable with false promises to get votes.