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.

Every house since the 1980’s has cavity wall insulation. Extremely few exceptions.

So producing your own energy is not as good as having a slightly more efficient boiler that still uses energy !
That makes no sense at all

Is it because we all have to do our bit to keep these big energy companies profits up 🧐

Cavity wall insulation became mandatory in 1995 for new builds ie it was a breg requirement.
Before then people were installing it anyway but there were many developers that wouldn’t have bothered..since no one was making them

Hence you cannot assume a property has it unless it was built after 1995

No, the new laws, when decided what they will be, will initially apply to new tenancies but within 12months, apply to ALL tenancies.

There is some suggestion that the first LLs property will be granted aided for upgrades but where is the money coming for that??

Personally, i'd bring the standard up to a D...& enforce current legislation... i'm at a loss as to why a tenant should have, potentially, a far higher level of home insulation and interior, than someone who buys a property but cannot afford a HP or new Kitchen.

I've just this morning found out that 2 families on my area are now being evicted, LL said cannot risk the costs involved in bringing the houses up to new standards, so is selling up their 2 properties, its not something they had planned to do but they would looking at 50k in costs and doesn't want to rip out new ish gas boilers for ASHPs for 2 very old stone cottages, exterior wall insulation and under floor heating, they probably need Solar panels too, which would mean new roofs, existing not strong enough.

Caveat for all of this is "Will Labour win the next election?" as the timescale is 2030.

I think that instead of HMOs there will be more a return to something akin to the old boarding houses. The landlord will live on site and so the others will count as lodgers rather than tenants and it will be possible to get them to leave. I can also imagine rogue landlords installing people whom they say own the property to get around the law even if they don't.

I agree with your conclusion that small law/rule following landlords with nice properties will become extremely fussy about who they let to.

The proposal for the new EPC rating is to favour electric/renewable based heating systems, Solar, electric boilers, HP's and negative scoring for any fossil fuel rated systems.

These of course "can" be very expensive to run in an older poorly insulated house.

They work well in new builds, less so in older properties.

HMRC don't regard residential property letting as a trading business.

I started bricklaying in about 1988, the only house I ever worked on without cavity wall insulation had 150mm internal block work. A much better way to construct a house in fact. Would most likely need to be 225mm now.
But yes, technically you are correct.

I agree with your conclusion that small law/rule following landlords with nice properties will become extremely fussy about who they let to

They'll sell, rather than rent out.... may bring overall house prices down slightly but not enough to allow many renters to be able to afford to buy.

Well I think the ones that stay in the business will become very fussy.

Also if you can't take extra rent up front and can't take more than six weeks rent as a deposit you are only going to want 2 x high earners on paye with money in savings accounts.

People like that (who will probably buy in the future) are going to care about their credit rating. They won't want county court judgements against their name. They will have assets if you had to make a claim for unpaid rent or excessive damage to the property. So actually they are likely to pay their rent and look after the place.

I think there is still a market to let high quality accomodation to high quality tenants.

Because stamp duty is so high and being an accidental landlord now so risky people may well choose to rent for a while if they have to move around for work etc even if they could qualify for a mortgage.

I once let out my flat for a year whilst I went travelling. Would never dare to do that now.

This is our reasoning for remaining as landlords. Rents will continue to rise as the number of available properties shrinks. We'll be in a position to keep choosing from higher end tenants.

I think this a good point.

Unless your a proffessional mult landlord and if so you are going to run it as a business ie very close to Market rate. So if a 3 bed semi on rightmove is adverage 1400 pm you are going to see less going on for say 1100 and landlords are more unlikely to keep longterm Tennants on historically below market rent just because they are good tennants. It's becoming more business like every year and landlords who took a Tennant on say five years ago and has only increased the rent slightly is no longer in the same budiness modle as they entered five years ago. Landlords need to be more business like and professional than ever therefore they need to stay close to what market rent does locally if it goes up or down. Ie every part of the business needs to be shit hot. Not just your safety checks, maintainable, tax return. The entire business mode.

Edit to say I'm dyslexic but cba to edit

How simplistic

More houses for sale doesn't mean houses prices drop. It's the same population number and same house numbers. We rent in a very desirable area. Rent is less than mortgage would be over time. Any guess what stops me buying this house?

With respect, what on earth are you on about.

The idea that we treat the poor better than the wealthy is utterly, completely preposterous. The costs imposed by the poor such as benefit fraud are massively smaller than the costs imposed by the rich such as tax avoidance and the punishments are similarly asymmetrical. While people are tried on a daily basis for wrongful benefit claims, bankers walked away from the financial crisis with bonuses. Lizz Truss personally cost the country £30 billion, more than 3 times the total cost of all benefit errors. And she's walking around Scot free. You can verify all this so, so easily.

(Also, for the record, the link between equality and wellbeing is not "only inferred from what we observe" it's a well developed, complex field of academic study).

This thread has turned into a ghastly landlord echo chamber so I'm not sure why I'm bothering, but please, I'm begging you to at least try to engage with reality. Google is your friend, Google scholar an even better one. Try it. Go on I dare you.

That's why it's called renters right bill no? Not landlord rights bill?

Nothing in the bill stops landlords selling to fold the business? It will just be harder or take longer. Even if they made it impossible to get the house back, you could stop paying mortgage ( I know its a simplistic idea but it's a option isn't it) and let the bank deal with eviction surely?

I think all landlords even the ones with mortgages will have a fair amount of their own money invested in the properties.

Yep and I didn’t say otherwise. If an individual pays tax at higher rate than 20% they might have to pay tax when they’ve made a loss in reality. Not the same as paying tax on turnover though, is it?

Good god. I was just thinking how well reasoned the arguments on this thread are - even those I fundamentally disagree with - I do at least respect their reasoning. And then we have this ...

Made me laugh... in the bill is this "LLs will contribute to fund the new LL database and Ombudsman"

Oh really! So LLs wont pass on the charges, in the next rent rise... everything will be passed onto the tenant and the LL will be able to offset the database fee against any taxes.

This govt is fucking bonkers.

Landlords do need more protection
Particularly when it comes to damage to their property. There should be a realistic way to claim that back.

Another poster who blames the players, but not those who make policy, or legislation.

And your trite line with respect to the financial crisis is the usual reductive nonsense - distilling what was a hugely complex issue into the old ‘us’ vs ‘them’.

You’ve rather given away your true colours, I’m afraid - and those are green, for envy.

True, i would never have become a LL if it wasn't to help someone out... but this Govt seems intent to make sure that i will a: sell up and the state will have to provide for her and the children or b: she stops work and claims Housing Benefit to assist her with the increased rent.

I wonder if the bill will be watered down somewhat, as LLs selling/or large rent increases, is going to cause huge issues for the Govt, who haven't a hope in hell of meeting their house building targets and even those don't provide many social houses

@taxguruI thought they could be limited liability companies? Not aware they are all taxed as individuals.