Small landlords selling off isn't a great news after all

[Goingindrain]

My landlord is a small landlord, just owns his house and the one where we live. He is a nice man and charges us below the market rate rent.
He is fed up of all the anti landlord rules and has decided to sell. It seems he had an offer from FTB and then a big corporation put in an offer 10k over and he's selling it off to them via the agents.
I am worried about the rent going up and it's not a great news for tenants.

Do you think it’s all of the landlords that are stopping you buying though? Who else provides students with somewhere to rent?

A lot of Uni"s run their own accommodation now.

Our local uni can just about supply 1st years with accommodation. After that it’s BTL landlords. And it’s desperate. Students are desperate. Rents are stratospheric. All because the Scottish government decided to introduce rent controls so loads of BTL landlords left the market. Scotland proving to everyone that rent controls are still a disaster.

Better described as paying a small part of your mortgage for the asset you will eventually own? Unless you are a landlord rather than just a BTL landlord.

The asset which you take all the risk and maintenance for and no guarantee it'll sell for a higher price. In this market, it is very uncertain. Potential for loosing tens of £1,000's. Even more. Something you would do, do you think? Can you afford it? But you expect others to do it in order to provide housing for others?

If I had 500k cash to invest no way would I put it in property. Mix of cash bonds and bonds, lower risk and higher risk equity instead. Far less work, more certainty, better returns. That is partly why small time landlords are selling up as well. It’s unpaid extra work taxed and regulated through the roof. Same picture with small house builders. The result is more pricy housing not less. The costs of overtaxation and overregulation always get passed on to the end consumer.
The State cannot afford a massive social housing build project so instead they decide to come up with screw people policies that make the situation worse. You can see these anomalies across various sectors now. The demographics have changed (far more smaller households, ageing population) and the politicians keep harping back to old tricks and the playbook that doesn’t work. Nobody is coming up with any proper solutions nor telling the truth.

"If I had 500k cash to invest no way would I put it in property"

Very very good advice but most people borrowed money to get into BTL, they didn"t have 500k, that is why BTL took off, it was more nearly free debt that people could access, of course large numbers of people lapped it up thinking any property investment was a one way bet.

I suspect that going forward there will be far less people going to "Uni", the future might be more about practical job training and living with parents for longer?

https://www.gov.uk/government/news/historic-renters-rights-act-becomes-law

Nice in theory, but in a lot of places, especially the regions, there aren't enough jobs close to the family home, and usually very few decent apprentice schemes.

Part of going to Uni is that it's a stepping stone to moving permanently away from the family home area which many have to do to get a decent job.

Those who live in the big cities won't understand just how bad the job market and career prospects are out in the smaller cities and towns in the regions.

Same we buy derelict return them to family homes and rent out. We have a waiting list of tenants as ours stay years and we keep rents reasonable. We have been slowly selling.

DD is at uni and had halls the first year, now in a private house. There wasnt even enough uni halls or houses for first years, some were in private student accomodation.

It is reality, has been for some time, parents of 20 somethings are most likely still working themselves, they live where jobs are available, very very few parts of the UK don`t have some form of local or commutable employment.

https://www.bbc.co.uk/news/articles/cx2j8v8wvrko

Where are the tenants on the waiting list living while they wait?

https://www.independent.co.uk/life-style/university-students-ucas-applications-education-b2684381.html

"the report warned that overall demand for higher education could fall by around 20 per cent from 2030 to 2040 as a result of the decline in the number of young people in the population by that time."

I think it could be more than 20%.

Heartwarming to read this.

https://www.lbc.co.uk/article/rachel-reeves-broke-housing-rules-renting-house-5HjdG8G_2/

Better Reeves rents it out though and pays 45 per cent income tax on rental income plus a family gets a home. Licence to rent out a house sounds like a Dulwich nimby policy, they also have traffic measures. It’s that kind of place.

@Araminta1003 licensing happens across the country not just in Dulwich.

Decent landlords get absolutely shafted for not having licenses but when a politician does it, it's an 'honest mistake'.

I hope she is fined accordingly and her tenant instigates a rent repayment request as is their right.

Rushanara Ali?

Except it turns out it wasn't an honest mistake, @TeenagersAngst ... tthis is copied from another thread and makes it very clear that Rachel was well aware of the issue:

x.com/Basil_TGMD/status/1983849226795987452/photo/1

Edited to add missed link

What a surprise @Puzzledandpissedoff - but I'm sure there'll be a reason why it's really not a problem.

Obviously it's not a problem because RR is left wing, which mean she is a Good Person and her actual actions are therefore irrelevant. Anyway, who could criticise a senior member of government for failing to follow rules she had voted for when Boris ate cake during lockdown?

Like this guy - he's left wing and presumably a Good Person

https://www.bbc.co.uk/news/articles/clyg1j0lv1go#:~:text=Jas%20Athwal%2C%20the%20newly%2Delected%20MP%20for%20Ilford,scheme%20he%20introduced%20as%20Redbridge%20Council%20leader.

He even had the gall to vote in a license scheme as a councillor (a money making scam for councils) and then not license his own properties.

You actually could not make this shit up.