to think the new rules on no fault eviction - means people won't want to be landlords?

[DragonMama3]

What do you think?

Renting can be tough but renting in a squeezed market with low supply is hard

Some cities o/s are really bad and friends said how much of a dire bun fight it was to get a place

Prices shooting up and you need to be fast

Some people. A large number of people in rented have no choice. They earn very well as evidenced by the fact that they are paying thousands of pound per month rent, they just can’t ever save enough for deposits because it’s all taken in rent! Stuck in a viscous circle. It’s completely immoral to allow people to profiteer the way LL have been.

I’m not a landlord, but, to be fair, some tenants are also parasites.

They see paying rent as an optional extra, and trash the place.🙄

i wish I made a profit on my flats! The mortgages are all higher than the rents I charge so I subsidise them all, and the service charges keep going up. They’re all flats with cladding/fire safety issues so I can’t sell them as they’re not mortgageable and are worth less than was paid for them. I am being taxed on the mortgage interest too.

I didn’t choose to be a landlord - I married a person with rental properties. The whole thing is anathema to me but yeah, I’m a parasite. Whatever.

Financially this won’t make sense in a lot of areas.
Where I live the HA allowance for a 3 bed is £520 a month. A 3-bed will cost about £280k to buy. A HA isn’t likely to pay that for a house that they will only get £520 a month for. It would take a long time for that house to become profitable for them. Here the only way the HA acquires new properties is when there’s a new build estate and they are allocated a proportion of the houses cheaply because the ones that are listed for sale are priced to allow for this (and usually those houses are at a lower spec than the ones that go for sale)

Maybe HA could buy from the landlords who are selling up

With what?
They wouldn't want mixed use properties either, eg small shops with residential flat above.

People say this stuff - the local authority or housing association should just buy/take over all the property - with absolutely no thought to the economics or the practical logistics of it.

Apparently there are endless resources for this stuff. And suddenly we’ll be knee deep in beautifully maintained property that can be rented in alignment with local housing allowances (even though there capped to cover the cheapest 1/3 of properties in an area anyway).

It’s dangerously naive. And also driven by some sense of vindictiveness in many cases.

I think it will put people off but it wont deter them from the market, it will lead to competition to buy run down houses on the cheap and doing them up to sell on.

Which will continue to price people out of affordable housing and a cash in hand buyer with no chain is always in a good position.

There is so much ridiculous bile on here about landlords. Of course they are not parasites. Without landlords, where would most people who can’t afford to buy a property live? The waiting lists for council houses and social housing are off the scale. The vast majority of landlords are indeed providing a useful service and of course they earn money from it like any business.

My step daughter recently became an ‘accidental landlord’ as she and her partner split up and can’t afford to sell now as they only bought last year at the property peak and are in negative equity. They are also locked into a mortgage deal with a large financial penalty if they sell now. So, they have rented out their house. They are £175 a month out of pocket after mortgage costs, insurance and estate agent fees. They have no other choice as they can’t afford to leave it empty. On the plus side, the house is providing a much needed home for a family with 2 young kids, while they have to rent elsewhere themselves. Hardly parasites.

In answer to the OP’s question about the rules putting off landlords, I’d say yes definitely, in some cases. My siblings and I inherited a house from my late mother, which has been on the market for sometime because the housing market is slow in the area. We could rent it out long term and provide a home for someone, and this has been suggested. However we all agreed no fucking way do we want tenants in the house who we could never get rid of. It’s certainly put us off being landlords, so the house stays empty for as long as it takes.

We rent out a flat. I got left a small amount of money by my gran 20 years ago and used it as a deposit for a 1 bed flat. We've had the same tenant for 16 years. We charge less than market rent because he's looked after the place and always paid his rent on time.
But it is increasingly difficult for us to afford to pay the mortgage and the increased tax, insurance and upkeep.
In a year's time when our fixed rate comes up it definitely won't add up and if we keep it we will have to put the rent up a lot, but the market value rent won't even cover everything.
There's some bad landlords but there's plenty of good ones! Unfortunately though the ones which do it properly and look after the property are going to be forced out and at the end of the day it is an investment for my retirement. It's an investment and there's nothing wrong with that!

Lots of people should get priority for social housing. Having priority for something that doesn’t exist in any meaningful form is fairly pointless.

It’s not “socialist zealotry” - whatever that is - that’s at fault. It’s 40 years of an entire lack of housing policy that actually addresses ordinary people’s needs rather than being designed to buy votes or enrich the already wealthy.
This time last year in Wales, landlords were issuing s21 notices in their droves owing to the Renting Homes (Wales) Act which ended the practice of evicting with less than 6 months notice. Because of this, and the years-long freeze to LHA imposed by the Westminster government, a housing crisis has become a disaster. That’s not to say I disagree with the end of no-fault evictions; I don’t. But before you can put that type of legislation in place you need a holistic approach whereby an alternative is provided through social housing and the simultaneous capping of private rents. Obviously that’s never going to happen because of the aforementioned neoliberal zealotry of housing policy!
Incidentally you appear to misunderstand socialism which in fact involves the collective ownership of public assets for the common good. Imagine if this applied to rented housing? Unfortunately people who misrepresent socialism encourage others to vote for the continuation of the present situation - housing as a driver of profit rather than an essential need.

Has the legislation been fully formed?

I can't see what would be considered an acceptable reason to ask a tenant to leave.

my neighbour inherited and his mum's flat has been empty for a year. Probate is taking a long time. Not worth the hassle of renting it out.

There’s another thread on here about an over 60 who is losing his (awful) private rented flat. He has secured a social housing tenancy, because his age gives him priority for older people’s housing. In some parts of the country, councils are still able to rehouse homeless families within a relatively short time.

https://www.bbc.com/news/uk-politics-67187411

The naievity of one or two posters is laughable
Private LL's are selling up in droves - its not driving down house prices so everyone who rented can buy!!
It's just driving UP the rental market making it much harder for the poorest to get somewhere they can rent!

Those capable of thought know this, but to the all-landlords-are-bastards crowd it doesn't matter; all that counts is another opportunity to spout hate because someone else has got something they haven't

What's often forgotten is that the endless new requirements on LLs are the result of government/local authorities wanting to shift the results of the housing crisis they've created onto anyone but them. They don't care about those struggling, just so long as they can dodge picking up the pieces

So instead off the LLs/tenants at the end of the chain, blame those who've created this - especially by selling off so much housing stock

I’m a landlord. Pretty sure I’m not a parasite. I deliberately bought an existing HMO rather than a small family home that first-time buyers might want, then added £50k onto my own mortgage in order to do a complete refurb and make it really nice. My tenants pay £450 a month for an en suite room, but that includes gas, electric, water, council tax, superfast broadband and a cleaner every fortnight.

Between all the bills, insurance, licences, tax, keeping on top of repairs and replacing white goods, plus the 12% I pay the property manager because I get posted to somewhere different in the country every 2 years (or overseas) so can’t do it myself, I don’t actually make any profit. I’ve also had two non-paying tenants who it took many months to get evicted, all while I was paying their bills for them because you’re not allowed to do anything about it! The only reason I don’t make a loss is because I don’t have a mortgage on it - I was ‘lucky’ enough to inherit the money I used to buy it. Between the original purchase price and the cost of the refurb, I wouldn’t get back more than I paid for the place, so in hindsight I’d have been better off just putting the money in savings accounts or buying Premium Bonds. I certainly wouldn’t recommend being a landlord to anyone considering it now.

I have seriously looked at selling, but my current set of tenants are all really lovely, and some of them have been with me for years, so I do feel a social obligation to them. If I sold up it’s likely the house would be bought by a big conglomerate now, and I worry about what they’d do to the rents.

Interestingly, the property next door to mine was also an HMO, then someone bought it and spent a lot of money converting back to a family home before putting it back on the market. It took a year to sell, and the new owner just converted it back to an HMO, so there is clearly still demand for rentals…

I can't see what would be considered an acceptable reason to ask a tenant to leave

Obvious ones which spring to mind are damage, using the place for illegal purposes and unpaid rent

Trouble is, if this even comes in, I can see councils insisting on some kind of "arbitration", which with the way they work could easily mean LLs would never be able to get someone out - which would suit the minority of nightmare tenants just fine

To be fair this happened to me in a Housing Association house. After ten years all of the people in my street who were renting from them were given notice to quit so that they could sell the houses. My next door neighbour was in the middle of breast cancer treatment and while the council got her and her two sons a flat, imagine the stress. She died a few months later. I couldn’t believe how callous they were.

The state chose to ensure many landlords do not make any profits so landlords have been and are selling which is fine if the state wants that and some of those properties will go to first time buyers. However there will always be some people wanting to rent eg job moves them around like young doctors or just in a City for a year or just left university and want to share with friends for a few years in London etc so that part of the private rental market (not the very low rent bottom end) is the one being hit by the changes - although it looks from the above link someone posted that the changes mentioned on the first post may be delayed. My sons both let out one house each (and still live at home) which one took over from a sibling who was moving as I wanted to help those at home buy a place each rather than wait 10 years and help them then when I might not have the money or might no longer be in work. I don't think now they are no longer students and will pay 40% tax on the tiny profit it will really be financially worth much to bother carrying on letting out not the state is about to take 40% of it all but there you are - at least the state will have all that money to spend wisely (... not))...

When the house was last let i have never seen anything like it (and we let 2 flats out in the 1980s so I have some experience) - 10 couples over one weekend all wanting the house, all producing inducements like guarantors, rent up front and so sad to turn away 9 of them. It is probably now let at about £300 a month less than the market rent there so I suppose that is why they all wanted it.

@Puzzledandpissedoff thank you

so how would things like temporary rentals work? My last rental was a guy who had a two year contract working abroad. He was great, the agency was great etc.

Does that get special exemption?

Is this policy one of these things that gets talked about a lot but actually there's no thinking behind it?

I had a house which I let to a homeless family always did repairs and on the day they moved in there were new carpets and everywhere freshly painted.We received the rent through the UC which was good as they had history re rent.I wanted to give them a secure home 4 young children plus a dog a chance.How were we treated beyond awful it cost us small fortune to put it in a good enough condition to sell.Never again.Not all landlords are parasites.

The New Employment Model for the Armed Forces involves most of us using private rentals rather than military-owned accommodation, so there’s going to be an increase in demand anywhere near military bases in a couple of years. We absolutely need private landlords, the council isn’t going to provide houses for military families/individuals.

I have been a landlord in the past but never again. With all the costs involved it just isn't worth the aggravation of bad tenants. I may well inherit another house in the near future, but would prefer to leave it empty rather than find a tenant. Given where it is, I may consider using it as a holiday let instead as at least I can then get it back if I want to sell it but I might just use it for myself, family and friends. It's a shame for those trying to rent places, but there is no longer the incentive for investers to go for buy-to-let property.