Lots of Landlords are selling up!!

[PassingStranger]

Where is everyone going to live who can't afford to buy?

Alot of landlords are selling. Can't be bothered with all the hassle now.
People aren't paying rent and also trashing houses when they do and costing the owners lots of money to put things right.
On TikTok people are being told to trash houses. [Society gone downhill]

I know there are good tenants, but there are alot of bad ones. Family member works for estate agent and says there are more bad tenants than landlords.

You can trash a house and walk away. Nobody ever gets done for criminal damage on private rents.
There is no register of bad tenants legally allowed either. It's all left to the landlord to sort out at their expense.

Where is all the housing going to come from?
The government donthave enough.
People who are trashing houses and not paying rent are actually spoiling it for everyone..
Alot of lls are selling up now.

Just remembered another one to add to no 7- housing being used for holidays lets and air bnb. Everyone who goes. On a s/c holiday is contributing to the system if it is not a legitimate built for/ consented for holiday use. Private landlords may be a business but they support residential use. It really easy to fix. Make it illegal to run a holiday let business without change of use and make it illegal to run a business without insurance and the insurance companies must insist on proof of business legitimacy.

But no private LL are the kicking ball.

do you think they should invest their own money for a loss?

Totally worthless! I'd never ever take heed of one, ever. Also landlords aren't permitted to 'warn' other landlords about rogue tenants.

Yeah this by far the biggest issue imho

According to google around 500k airbnb listings in UK. Some will be purpose built, but looking at airbnb most will not so at least let's say 250k properties that could have been on zoopla or spare room instead?
(edited as lots are just rooms)

No. That's not what I think. It wasnt the profit that was bothering me, but the combination of things that had to be paid, plus profit, is going to be expensive.

It was actually the mortgage and potential agency fees that was bothering me. The mortgage isn't thier own money as such it's a debt/risk. I thought big companies might have more capital to invest so have smaller loans and might be able to find better loan deals due to thuer size, or other ways of raising finance that was cheaper than a buy to let mortgage and potentially they could have economies of scale for maintenance, vetting etc.

I wasn't really looking at it from a tenant perspective or a landlord perspective.

Just curiosity as to why there weren't big chains of landlords at different price points. Like im surprised i cant rent a McAppartment in any UK city and know what I was getting, or WaitroHouse in any market town, and transfer between locationet staying with the same company.

But people have said some investment companies have started this, and that there's no profit and it's not an attractive market. Others have said be careful what you wish for too.

And the new Renters Rights bill is only about protecting tenants from landlords, nothing about protecting landlords from bad tenants.

It's interesting, the same people who expect large amounts of redistribution because 'a more equal society is good for everyone'... somehow find that the 'fairness is good for everyone' idea evaporates when it comes to landlords having protection as well as tenants.

Even though the link between social equality and general wellbeing is only inferred from what we observe. Whereas there is a clear causal link between giving landlords protection from bad tenants and the wellbeing of tenants. As I said previously it is good tenants who end up paying for the costs incurred by landlords for bad tenants, since all rents must go up to make the risk of financial loss worthwhile.

Our society has a weird habit of infantilising members of the social underclass with poor behaviour, laying the responsibility - moral and financial - on the 'grown ups' who already support them financially through taxes.

I think that more and more people are opting out of accepting that responsibility for others who clearly hate them. What other reason is there for covering walls with shit and pouring concrete down toilets?

I think this is a red herring to be honest, a lot of airbnb properties are annexes or outhouses, a lot are rooms. Not many are 'affordable housing' or viable family homes. Some cottages we have rented really are only appropriate for a renting for a holiday, you couldnt live in them full time with kids and belongings.

Some areas depend on the business holidaymakers bring in. There’s no easy solution by demonising yet another section of the community.

We basically sold off council houses so created a huge shortage in the rental sector. So landlords stepped in because it suited everyone! Not just the landlord. Tenants got to live in non council areas and the gap was plugged. If housing is not built, no one lives in it. Not tenants or home owners. Prices go up because of supply and demand.

Attacks on profits will always mean a business shrinks and a tipping point is reached. Landlords are getting out. However as they are vilified, why not divert their money into other friendly ventures? I have. My DC have the money from the houses. Two rental houses of mine needed better bathrooms and kitchens and that’s a years profit gone. So selling made sense when tenants left. Life is easier now! I had mostly good tenants. Houses were not trashed. This might be more to do with where a house is. Mine were in desirable residential roads.

Basically it’s up to Labour to get building. There’s no sign of any change so just expect rents to get higher. Plus stop demonising builders! We need them! They are not charities. No house builders, no houses! No land purchases or purchase options - no houses. No planning consent - no houses. No houses - sky high rents.

Well there is lots of housing being built, I dont know many areas where this isnt happening, the problem is there are no extra roads, extra transport and train stations, no extra schools and GPs.

In addition in regard t the subject matter, the houses are expensive, new builds, too many bathroom type of new build, no storage space type of new build but with customers paying through the nose for a new build and all sparkly new. Buying schemes mean they're possibly theonly property someone can buy

Some are for rent as 'affordable' but the prices are really expensive, not affordable at all. A minority are social housing, which wont make a dent in the waiting lists.

You selling the flats is not going to result in less accommodation. They will either be bought by other landlords or by owner occupiers.

This is exactly why there needs to be as much new building as possible. If a developer proposes a planning application please everyone reading this - don’t be a NIMBY. Housing provision really is in crisis.

@Pippyls67Most development is zoned via local planning. Developers might apply for smaller developments but they must be within an area zoned for building. Technically this presumes planning permission will be granted. However DH has dealt with planning issues where 10 years later no house has been built. Delays are local councillors and councils, objectors, details of the estate, how many houses, what type of houses, flooding and environmental design, getting agreements from all the statutory bodies who are often wholly unreasonable and under qualified. Public inquiries costing millions of £ and, no houses built!! So we have a housing crisis. Even though we zone land for building!

They'll be bought by big corporate landlords who have so many properties that the costs of bad tenants can be spread across all the properties. Those costs will be met by the good tenants in the form of higher rents, of course. No one is investing their money for no profit.

It's the only way it can go. But it's a bit of a shame, because it was a genuine investment opportunity for individuals, which will now only be available to big corporations.

Another nail in the coffin of individual enterprise (and social mobility) in the UK.

All other businesses except private landlords can consider finance costs as a business expense. As these finance costs are usually the biggest cost element, many landlords are effectively taxed on revenue and pay tax on a loss.

All landlords charge as much as they can. I am not saying they shouldn't but all business charge what they can regardless of whether they are a large company or a small one.

So, many of us are set to be a lot poorer - LL’s, tenants, benefits claimants, NHS workers - you name it.

Do you they @wombat15 ?
I didn't know that. Thanks for letting me know.

Social mobility is the one thing the socialists detest - unless its downwards, of course.

What can be done about this? There must be ways to navigate this that have proven more beneficial than others. These should be made easily accessible for new private developers. Can your Dh shed any light?

Actually they don't. The motive isn't generally altruism admittedly, but small landlords weigh up the pros and cons of each circumstance and may well decide to ask for less than market rate for any number of reasons.

One of my houses I'm charging around £400 pcm below market rate. This is because they are good, trouble free long term tenants and I don't want to risk pricing them out. Sure I could replace them with other tenants paying a lot more, but they may turn out to be terrible tenants.

Large, corporate landlords are unlikely to make such individual decisions and are likely to charge the maximum to get the best return.

Social mobility loses Labour it's power base.

There's a strong personal incentive within Labour to increase class division and prevent personal success.

What is the evidence that large corporate landlords are charging more than landlords with fewer properties?

Buy to let and renting flats out has been a nice little earner. Thank you very much, for a lot of landlords for a good few years.

That particular "gravy train" has now come to end. Due to several factors. Awful tenants and landlords changes in the tent and tenant protection.

Ideally, these flats will be sold on the property market and will be bought by young first time buyers. Good thing?

As for trashing places. I am a Social Housing tenant (38 years) and have seen many flats and houses left in poor condition or trashed by tenants over the years.

My Social Housing Landlord never goes after these people for the cost of the damage to these properties.

To be honest I think there are just too many people living in this country. It is as simple as that

Interesting. So the move to large corporate landlords removes the reward for being a good tenants - ie that a landlord will accept a lower rent because they want to keep you.

Big corporates won't care: it's already priced in.

And so the enshittification of the UK continues.

@Pippyls67
Most large scale housing is built by large scale developers. It’s about economies of scale. We seem to have a system where local plans define where houses are to go but then everyone stops that from happening. Public inquiries into building zones often use KCs. It’s hugely expensive. So when a site is included for development, no further objections would be a start. This pushes objections back to pre zoning of course but we just have to speed up consultations and the objecting process. We need to say exactly how many homes should be for rent and what sizes are needed. The detailed planning takes forever with, for example, the Environment Agency being very slow and lacking in imagination. So everything grinds to a halt. Even highways authorities cannot agree road widths and vision sprays. So it drags on. We need to have much stricter time lines and less time for objections.