Page 7 | Lots of Landlords are selling up!!

ThymeScent · 14/03/2025 15:56

Interesting about the rule preventing 6 months payment of rent on advance -why?? I have I received this from my last lot of tenants because moving from abroad they had no references. The only tenants with a chance of renting now will be a couple comprising two gay salaried men with no pets.

Summer2025 · 14/03/2025 15:56

anon2022anon · 14/03/2025 15:10

These threads just bring out the same response over and over again- good, then prices will drop and then more can buy.
If there is a market crash because of too many properties (which there won't be to any large extent), then it's not just the landlords houses that reduce in price. Its YOUR house that reduces in value too, and your children's. Those first time buyers kids of yours who have just stretched themselves with a 5 or 10% deposit? That's negative equity happening to them if prices drop more than small fluctuations. Look at the bigger picture.

Hardly anyone buys with a 10% deposit these days. The mortgage payments would be too high. It would also be easier to upsize.

Switcher · 14/03/2025 15:56

I can see why people like to say that housing is a human right, but that is a route to communism. Lots of people seem persuaded that's the way forward, but all it does is reduce quality and choice. Even in communist countries you pay rent, it's just the government that owns everything. The government is not a good landlord, because they have no incentive to be.

wishiwasjoking · 14/03/2025 15:56

I think the UK housing market needs to become like the Japanese market, where houses don't have any value so people don't buy them as a long term investment.

LionME · 14/03/2025 15:58

PassingStranger · 14/03/2025 14:45

Yes, there will be less houses for tenants though.

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Two possibilities
1- the house is bought by another landlord so no change
2- the house is going to be bought by someone who wants to buy. And who won’t be renting anymore.
Neither of them will impact the ability to find another house to rent.

IF we were going into a situation where so many rented houses were put in the market and not rented again…. People might struggle to find somewhere to rent but I’d hope prices of houses would go down as there are more houses to buy. More people could afford to buy one then.

As for the ‘renters are protected’.
You’d better not go to look at countries where renters ARE protected. You’d have a shock on what it actually means.
Remember that landlord will keep the deposit if the place is trashed!

mondaytosunday · 14/03/2025 15:58

@DenholmElliot11but may not be landlords so that’s a rental unit off the market.
@LauderSymeare you a landlord? Do you think it’s easy money? It’s a business, providing a service. It’s not a charity.
@Ineedanotherholidaynowwhat do you mean? Only if owner defaults. Unlikely. And if they do they will just resell them on, banks are not landlords.
@Frowningprovidencethere are. Professional landlords who own dozens if not hundreds of rentals.
I have rentals. Only one of my tenants fits the profile of wanting but can’t afford to buy. The rest are: students, people on temporary contracts like secondments, people who just like the freedom of being able to live whenever they want, people who don’t want the responsibility, and so on. They WANT to rent.
I did have one awful tenant but the rest have been great. Foreign students have been the best. My DD rents as she’s at uni. My son does as he’s 21 earning minimum wage. Thank goodness there are landlords out there!

TheWombatleague · 14/03/2025 15:58

LakieLady · 14/03/2025 15:51

the Uk is quite an odd country in that culturally we are very attached on to owner occupation. Many other countries (for some reason Germany springs to mind but I could be wrong), renting is seen more as the norm.

I'm told by friends from Germany (and Holland) that tenants there generally have secure tenancies and rents are controlled. Tenants are also allowed to decorate and make changes to the property as long as they aren't structural. That makes renting much more attractive.

One of them (can't remember which) also said that a lot of rented property is owned by banks, insurance companies, pension funds etc, rather than individuals.

I would never have bought a property if I'd been able to get a tenancy like that, but I got fed up with high rents, not having security of tenure and "landlord's magnolia" in every room.

It did work well, until greedy landlords upended it.

https://theeconreview.com/2022/11/30/berlins-worsening-housing-crisis-how-a-failed-rental-referendum-impacted-its-population-and-europes-refugees/

Berlin’s Worsening Housing Crisis: How a failed rental referendum impacted its population and Europe’s refugees

The German capital, Berlin, a city once known for its low rent, now faces a housing crisis, driven by a sharp increase in rent prices and unsuccessful policies.

https://theeconreview.com/2022/11/30/berlins-worsening-housing-crisis-how-a-failed-rental-referendum-impacted-its-population-and-europes-refugees/

mrsmiggins78 · 14/03/2025 15:59

sweetpickle2 · 14/03/2025 15:55

Maybe people will be able to actually afford to get on the property ladder if they're not giving the majority of their salary away each month to a landlord who is acting like they're doing people a public service by making profit on something that is a basic human right.

There is quite a lot of confusion on this thread about 'basic human rights'

taxguru · 14/03/2025 16:00

All the people currently having to rent because they're priced out of the market by landlords will hopefully be able to buy once the landlords aren't getting priority, so there'll be fewer people needing to rent and the entire housing market may balance out a bit more.

MuckSavage · 14/03/2025 16:01

Dollydaydream100 · 14/03/2025 14:19

The government don't care - they simply bring in more arbitrary laws that protect the tenant as they want to be popular and don't want the responsibility of housing people. So instead of making it easier to get bad tenants out they make it more difficult - it's backwards thinking.

We are LL's and we know so many who are selling/have sold up.

There are homeless and beggars even in our "naice" town now. Tent cities springing up everywhere.

This is what happens when immigration is allowed to go unchecked, LL's are forced out of the rental business and no one is building anywhere enough houses. No one has the money or the patience to jump through the legal hoops required.

My heart bleeds

ThisPithyJoker · 14/03/2025 16:01

Apologies if it's been said, but around here 'family houses' (anything from 3 bed terrace up) are being split into HMOs, everywhere. Nice areas, not so nice areas. A landlord can still make a massive profit renting to three/four families rather than one. Often it is three families, too. Other times you have two/three young friends sharing each room. And that's a licensed HMO - the unlicensed ones can be much more crowded if the news is to be believed.

On our road there's a 3 bed semi family home split into four, hugely over-occupied rooms (at least a couple but several with children, in each room). There's also an outhouse at the bottom of the garden that seems to have people staying in it. The garden has been paved over at the front to allow for half a dozen delivery scooters. The more the council licenses places like this, the harder it is for those young couples to rent a place because it pushes the prices up massively. I feel awful for the people living there that they can't afford a place to themselves.

Switcher · 14/03/2025 16:02

LakieLady · 14/03/2025 15:51

the Uk is quite an odd country in that culturally we are very attached on to owner occupation. Many other countries (for some reason Germany springs to mind but I could be wrong), renting is seen more as the norm.

I'm told by friends from Germany (and Holland) that tenants there generally have secure tenancies and rents are controlled. Tenants are also allowed to decorate and make changes to the property as long as they aren't structural. That makes renting much more attractive.

One of them (can't remember which) also said that a lot of rented property is owned by banks, insurance companies, pension funds etc, rather than individuals.

I would never have bought a property if I'd been able to get a tenancy like that, but I got fed up with high rents, not having security of tenure and "landlord's magnolia" in every room.

Actually rent controls in Germany have become rare, but tenancies can be a decade. They will still go up with inflation but there is usually some scope for negotiation as the whole block is usually owned by a single company so you can lobby with the other tenants. My father was priced out several times ans lived in smaller and smaller flats as time went on. It was rather sad to watch, even if his lack of funds was a bit self inflicted.

ThymeScent · 14/03/2025 16:02

taxguru · 14/03/2025 16:00

All the people currently having to rent because they're priced out of the market by landlords will hopefully be able to buy once the landlords aren't getting priority, so there'll be fewer people needing to rent and the entire housing market may balance out a bit more.

So naive! Numerous people on here have cited circumstances where people choose to rent. My own DC in their 20s chose to rent as they want to be mobile for job opportunities and career progression.

MichaelandKirk · 14/03/2025 16:07

Lion. The deposit is a drop in the ocean against repairs. It’s 5 weeks rental. We were constantly paying £4-£8k to repair apartments. Think washing machine stuffed to bursting and then breaking, dishwashers trashed, blinds marked beyond repair. Ovens needing a full deep clean (often left with food smeared all over the inside). Marks on the wall and straighters put down on carpet…Deposits cover little….

Woollysocksandbeer · 14/03/2025 16:11

Landlords selling will suddenly mean more people buying as owner occupier. Plenty of houses around for sale already. People don't magic up deposit and salaries needed just because it's ex rental.

What will happen is large companies buying up stock and good luck to us then when rentals will be majorily owned by handful of investment companies.

WhereIsMyJumper · 14/03/2025 16:11

ThymeScent · 14/03/2025 16:02

So naive! Numerous people on here have cited circumstances where people choose to rent. My own DC in their 20s chose to rent as they want to be mobile for job opportunities and career progression.

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It’s also naive to believe that if LL aren’t buying properties that FTB will somehow magically be able to afford them!

Woollysocksandbeer · 14/03/2025 16:12

It's also been going on for few years now. Landlorda selling porfolios. Didn't cause any price drop 🤷 That's a pipe dream

SilverDoe · 14/03/2025 16:17

This reply has been deleted

Message deleted by MNHQ. Here's a link to our Talk Guidelines.

Their comment really isn't ignorant or dense.

It's possible for both things to be true at the same time.

Surely if being a private landlord is such a difficult game, and being a private tenant is also such a bad experience for many, it makes sense to have a more regulated, controlled market? Not many places have a housing market and renting situation like the UK.

A secure home is a fundamental need and the current system is not working to provide that for the majority of people.

Discombobble · 14/03/2025 16:18

LauderSyme · 14/03/2025 14:15

They're selling up because providing what should be a basic human right has become slightly less of an easy cash cow for the poor dears.

Have you ever rented property out? I have (inherited a rental property) - did everything by the book, never made any profit and got left with no rent for the last 18 months and a filthy house. Never raised the rent for 12 years - which I’m sure I will be criticised for, and would be told I was profiteering if I had

Tiredalwaystired · 14/03/2025 16:18

Purpleturtle43 · 14/03/2025 14:26

The government has made it very difficult to make any profit from being a landlord. At the end of the day it's a legitimate business like any other. Not sure why people think landlords are greedy for wanting to make a return on their investment, they needs to support themselves and families too. Yes of course some are rogue like any other business but the majority are just trying to make a living.

I think many people feel that way (dont pile on me, I’m just putting a suggestion out there, I’ve no skin in this game)it’s because that there is the additional unearned money that they also have built up over the last twenty or so years. So while tenants pay their mortgage they’ve also made 150% on equity on top of that. So when rents get ever higher for people that can’t afford to buy for themselves it all feels very unfair.

Dollydaydream100 · 14/03/2025 16:19

Sabire9 · 14/03/2025 14:51

@Dollydaydream100

"This is what happens when immigration is allowed to go unchecked, LL's are forced out of the rental business and no one is building anywhere enough houses. No one has the money or the patience to jump through the legal hoops required."

What's this got to do with immigration, unless you want to argue that immigration has contributed to the housing shortage that's made BTL a lucrative business for the past few decades?

Immigrants contribute to our economy. Some of them become landlords. Some of them work in the building trade.

Really have no idea why you're blaming immigrants, except because it's a hobby horse of yours and you're looking for a place to vent about immigration.

Eh? You can't understand how having a massively increased population - partly due to mass immigration - and not enough housing leads to homelessness?

Too many people + not enough houses = homelessness.

What is so difficult for you to understand?

Boomer55 · 14/03/2025 16:20

PassingStranger · 14/03/2025 14:12

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.

Yes, they are selling up. They don’t want the hassles. Which will now make private lets more expensive because there will be less around. 🤷‍♀️

Discombobble · 14/03/2025 16:20

Tiredalwaystired · 14/03/2025 16:18

I think many people feel that way (dont pile on me, I’m just putting a suggestion out there, I’ve no skin in this game)it’s because that there is the additional unearned money that they also have built up over the last twenty or so years. So while tenants pay their mortgage they’ve also made 150% on equity on top of that. So when rents get ever higher for people that can’t afford to buy for themselves it all feels very unfair.

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Depends where your property is. Increase in value is offset by repairs required if house has been trashed, and CGT when you sell.

and tenants are not ‘paying the mortgage’ they are paying rent for a property they are living in. Social housing also charges rent

AllyDally · 14/03/2025 16:20

I can't believe people are saying that if tenants trash it you can keep deposit, that won't come close to half the stuff people are left with. Plus you have to prove the damage and its not always that easy.

We paid for the garden to be done for new tenants before they moved in, that was more than their deposit so if they dont put right we're stuffed. They have trashed carpets, broken front door (we paid to fix) pulled curtain rail off wall (we paid to fix) caused mould in numerous places (we sorted) as well as blocking the drains and breaking other bits and pieces in the year they have been there. Not to mention the very clear subletting due to us finding mattresses on the floor in every room including downstairs. It is so complicated to get anything done legally as a landlord so it is easier to ask them nicely to fix everything and terminate their contract. I can't believe people really think LLs have any rights at all, they really dont. Going through court would take so long also, we'd lose so much money.

SilverDoe · 14/03/2025 16:20

ThymeScent · 14/03/2025 16:02

So naive! Numerous people on here have cited circumstances where people choose to rent. My own DC in their 20s chose to rent as they want to be mobile for job opportunities and career progression.

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It's kind of dumb to not recognise that's a position of privilege though.

Lots of people who rent do not choose to do so and are absolutely priced out of home ownership. Maybe more families would be able to choose to rent if the rental market was more secure and favourable.

We can't just say don't worry about all the people struggling to afford rentals, stuck in the rental trap never being able to afford to buy, because some people when younger and childless choose to rent because it suits them better!