To think landlords who own multiple properties are part of the housing crisis?

[ByArtfulOliveDuck]

Is it unreasonable to say that having a portfolio of rental homes is unethical in a housing shortage?

I think if mortgage affordability was calculated in the same way rent affordability is, there would be a lot less landlords.

Why would it?

that’s a day dream! You can already see large corporations moving into the rental market and they have no intentions towards any form of social let alone reasonable rent!

Honestly, the issue isn't the Landlords. It's government not investing in house building and policies like right to buy where the money hasn't been re invested in housing.

I know there are rogue landlords but I'd much rather rent from a small landlord than a large faceless company. But that's just me and my experience of renting.

What the hell are you talking about though? Because they have multiple properties it's worse than a landlord with one? It's the landlords who only rent one property who are the worst usually they charge higher rent because they need the money and they love doing "inspections" all the damn time.

“Yes … they create a problem by reducing the supply of houses, therefore increasing the prices, and making them unaffordable for people on an average wage.”

It takes sellers an average of 62 days to find a buyer. It is currently a buyers market - more houses for sale than there are buyers. There is no supply issue for buying a house. The recent below inflation increases in house prices isn’t caused by demand outstripping supply but other economic issues.

When it comes to renting, there is an incredible shortage of rental houses. Something like 19 families per home, which is driving up rent astronomically and contributing to homelessness and poverty.

What difference does it make if a landlord has one property or ten? If anything a landlord with ten properties may have a more sustainable business and be able to keep up maintenance better than a hobby landlord with one property he lucked into and has no idea what his responsibilities are.

If he sells 9 of his properties that is 9 families that can't find anywhere to rent. Renters and buyers are rarely interchangeable.

I don't think it will be an issue much longer as many landlords are selling up.

Exactly this the one with multiple properties usually have cheaper rent.my friend rents from a lady who only owns one property and she is OBSESSED with doing inspections and moaning about every little thing and yeah the rent is extortionate because it's this lady's whole income

It's not just the multiple properties, even renting out one or two at exhorbitant rents, is part of the problem. Youngish working adults (25 to 30) should be able to afford to buy. Instead they are forced to rent, which inflates demand for rentals and allows greedy landlords to push up prices. I'm am not quite with Charman Mao (who claimed hang all landlords), but I do totally support rent controls - and if the landlords find it not so profitable for them, tough. They can sell up releasing properties on to the market with millenials can buy, freeing up rentals for gen z. Housing is a social need, not an investment opportunity.

😂😂😂😂 is this a serious post???? Jesus christ hun

‘ Three of the top five landlords in parliament are now Labour MPs, including the biggest landlord, new MP Jas Athwal (main image).
The FT’s analysis of parliament’s register of interests suggests that landlords will have greater representation than previously thought during the debate on upcoming rental reforms.
There are 85 MPs who declare themselves as landlords (13% of parliamentarians), owning 184 rental properties between them. Labour has 44 landlords, equating to 11% of its 404 MPs, while the Tory party has 28, a quarter of its 121 MPs, and the Liberal Democrats have eight among their 72 MPs.
Athwal, who rents out 15 residential properties and three commercial properties - all co-owned with a family member - eclipses the portfolio of shadow chancellor Jeremy Hunt, who owns nine rental properties.’

As of October 2022, there were over 600,000 homes empty in the UK as defined by Council Tax records;

https://commonslibrary.parliament.uk/research-briefings/sn03012/#:~:text=How%20many%20empty%20homes%3F,recorded%20empty%20homes%20in%20England.

Shelter reports that, as of December 2023, there are 300,000 homeless people in the UK

https://england.shelter.org.uk/media/press_release/at_least_309000_people_homeless_in_england_today#:~:text=While%20Shelter's%20analysis%20is%20the,.org.uk/donate.

Who is the big baddy? Of course it’s complex. But ultimately, we need to reframe the idea that houses & dwellings are assets by which to grow wealth, rather than what they should be.

And that’s homes.

Local councils are the worst landlords. Tenants live for years in damp, cold, unsafe properties. There have been so many reports and documentaries in recent years. Croydon and Westminster are the worst.

Agree. I had a nosey on Rightmove recently as I've been thinking about moving from this rental at some point. Only a handful of properties (about 14) were available, yet AirBnB had 10x more listed. When I moved 5 years ago there was much more choice, 50+ at least. This also pushes rents up so landlords can name their price and the prospective tenants have to fight for the scraps left on the market. I really hate my place at times and have had no end of issues but the ones on RM were dark, dingy, and depressing for huge rents.

I think the council need to put in restrictions - Air BnBs have to be registered for a small fee, and a cap on the number of properties in an area.

Landlords per se, no. In fact, George Orwell made the observation nearly 100 years ago that the worst landlords were often the ones who owned only a couple of properties as they couldn't afford to keep them in good repair. (The Road to Wigan Pier.)

The BTL market was an issue for a bit as everyone wanted to be an "investor" but that's not the real issue. The basic problem the UK has is an insufficient supply. It is possible for investors to inflate prices, but I don't believe that's what's happening for the most part.

AirBnB etc is a significant issue in some areas especially London as it removes properties from the long term market. Again in London overseas investors and second home owners remove supply. In other tourist areas eg Cornwall second home owners are an issue.

However, overall, the biggest issue is that the UK has not, for decades, built enough homes to match demand especially where demand is highest. You cannot make people not want to live in London and the South-East when that's where the jobs are.

Let's be real they're not everyone I know living in one pays extremely low rent like straight up 400 for a three bed house while my rent was twice that on a or bed apartment.
This is an unpopular opinion on this site though and I'm gonna get slated but it's true the money you save on that rent you could pay to have stuff repaired yourself. Not your job it's the landlords job but still, no they are not the worst landlords sis i had moudy rotten walls AND high rent

@mugglewump
If you want to live in a society that believes house ownership is a social need then we all need to vote for majority left wing governments. We don't. We have voted mostly for right wing governments for decades and decades. No one wants to pay more taxes, no one, probably you as well. Paying tax is vilified in the UK, when it should really be reframed as a social good.

We're a right of centre populace and we think are taxes are wasted everywhere, NHS, police, councils you name it. Civil service, wasteful and lazy. The Tory's have sailed off to the far right on it. We get the politicians we deserve. I doubt we are going to get everyone living in their own subsided home anytime soon.

Unethical to people who want to purchase a property? What about the renters? My 74 year old mum lives in Wales. Since they increased council tax for second home owners lots of landlords have sold up meaning there is no longer enough homes to rent, which has driven up rental prices to an unaffordable amount.

Selling off state housing at massive discounts via the Right to Buy and not replacing them, has paved the way for the current crisis. It should never have been allowed in the past and never allowed again in future.

Where do you expect people to live that can't afford to buy ???

No, it wouldn't make it easier to buy a home. In the US housing is now bought by corporations with the money put up by private equity groups.

People then talk about it from a moral stand point. And years ago maybe I would have agreed. But now I'm just trying to build a bit of wealth for my DC. Morals don't pay bills and there are far worse things you could do than be a LL.

If there were too many rental properties on the market then rents would be much cheaper. Same with house prices. If you live in environment with high rents and high house prices the problem is not enough houses for the number of people in your population.

Without a 'father Christmas' landlord my daughter and I would be on the streets or living in shitty temporary accommodation. Would this be preferable to you?

Anyone who purchased a property they don't need to live in is part of the problem.