Renters rights bill

[MoneyNeverSleeps]

A question for LL’s please - what changes will you make in preparation for Labours Renters rights bill please? And what do you see as the wider consequences?

For those who simply wish to hate on LL’s, please don’t bother posting.

The leeches and the parasitc landlords always threaten selling up when their parasitic behaviour is questioned, perhaps being a land leech isn't for you and they'll now have to go out and get a proper job and not live off the sweat of others hard work

Let's not forget the amazing MN landlord who always charges below market rate, always fixes issues within 24 hours yet are concerned about legislation that's meant to target bad landlords, something doesn't quite add up 🤔

Grow up. I've got a "proper job" and I've got an investment portfolio which also gives me an income. Is it parasitic to make money off of others? If you feel so then I hope you don't have any investments or a pension.

Does any ll on mm charge market rate rent 😂

The PP is very bitter and twisted.

I think the experiences are skewed as most LLs on MN only own 1 or 2 properties. Many seem to think similarly to us and are happier to take the hit on the return once they have good tenants in. The cost of evicting bad tenants is astronomical. If you own 100s of properties you spread the risk and also taking say 10pc less than market value isn't just in the £100s anymore.

D bro put all his five properties on the market. One was snapped up because of its school catchment area - so now that opportunity is gone for a renters child. Two have been sold to downsizers, and a cash buyer is interested in the others. Look's like he hopes to HMO or Airbnb them.
He owned all outright, but approaching retirement he just couldn't face the hassle. He was such a great landlord, that one of his former tenants is now living with him as a lodger!

And all his past tenants named their children after him and have a photo of him on their mantlepiece

This fucking place at times 🤣🤣🤣

Landlords are some of the most generous, kind-hearted people on the planet - letting their places out of the goodness of their own hearts. 😂

It should be an absolute basic minimum that you quickly address maintenance issues, don't gouge your tenants, and don't kick them out because you aren't making as much money as you possibly can. It's not a public service, it's a business.

Except it's not remotely untenable, is it? People are still letting properties. The PRS sector has the worst maintained housing of any sector - with 14% of properties having a category 1 problem:

Category 1 hazards are those where the most serious harm outcome is identified, for example, death, permanent paralysis, permanent loss of consciousness, loss of a limb or serious fractures.

"Good" landlords are simply those who obey the rules, which they damn well should do. More than one in ten are providing accommodation which is literally hazardous to health - and the tenants won't complain, because the landlord can kick them out with a Section 21 notice.

. . . My experience of social landlords debunks those stats straight away. Look at London & Quadrant for starters - absolutely diabolical behaviour. I've been in and around the Housing sector most of my working life, and the majority of issues were with social landlords.

Well my property currently has a damp issue. That I have tried 3 times to repair but the tenant, despite agreeing access with me in writing in advance, has turned the workmen away each time. I’m having to evict him to fix the property. I can’t leave it as is as before long other flat owners will be impacted. If he’d let me repair it and look after the place we wouldn’t be in this position now.

It’s a complex area, just demonising all landlords is shortsighted. My personal view is that alongside rental change it needs to be easier to open dialogue. There needs to be a mediation service to support negotiated exits rather than the brutal court process we have now.

Absolutely. Also it makes workers and students less mobile which is bad for the economy. We have higher rents and a crisis of availability in Scotland thanks to anti landlord laws.

Yes it doesn't help renters, prices go up when supply falls

It’s not the case at all that private rented housing is worse maintained. Public housing is much worse.

Your anecdotal experience does not trump the facts. There may well be regional variations, but overall, the PRS is by far the worst housing sector.

In 2021, 14% (615,000) of private rented dwellings contained at least one Category 1 hazard. This was a higher proportion compared with owner occupied (10%, 1.5 million) and social rented (4%, 162,000) dwellings, Annex Table 4.1.

https://www.gov.uk/government/statistics/english-housing-survey-2021-to-2022-private-rented-sector/english-housing-survey-2021-to-2022-private-rented-sector

And in many cases they simply cannot get a rental so can’t do their course or job.

Don’t gouge tenants and yet tenants are happy to nutmeg each other….

Look on the bright side.

Soon you will have private equity as your landlord.
I deal with PE in my role.

Good luck with that - let us know how you get on.

I'll make sure I check the leases on flats so that I know what the position is on pets. Many leases don't allow them and and as the lessor that has to be abided by. I'm considering giving notice to one set of slightly tricky tenants before it comes in. They are noisy, have been given warnings but haven't changed their behaviour and are upsetting their neighbours. It's not enough to be able to evict on a s8 (fault) notice though I wouldn't have thought, so it would have to be 'no fault'. I wouldn't want to get stuck with them.

Except when you look at the decisions by the regulator, the judgements are against whole social landlords for failing in their statutory duties against many tenants, not just one as is the case with prs. I suspect social landlords are actually far worse. As I said I've worked in this sector for many years and enforcement against social landlords has been very poor to date.

https://www.gov.uk/government/collections/regulatory-judgements-and-enforcement-notices

I’m a decent landlord, I’m losing money on my rental but keeping it for as long as my tenants want to stay then getting rid. My mortgage tripled, the tax on income and insurance makes it an unwise investment. I don’t understand the hate on here for landlords. It’s not like the council will miraculously find social housing for everyone when pissed off landlords sell.

Don’t blame you.

We just had a difficult phone call with one of our tenants to explain we would be serving a S.21 but giving them extended notice. She initially kept asking why, and we said it was in advance of the new bill and not a reflection of her and her husband.

I have to do two more calls like this.

I feel like shit but what a shitty position to be in.

In maybe 20 rented places over the years I had 1 decent landlord.
So it’s a bit chinny reckon that every LL on mumsnet is so amazing and keeps rents low and always maintains the property 🤔
All over Europe landlords are expected to behave responsibly. It’s just that the UK has been the Wild West for years, with landlords able to get very low interest mortgages, charge very high rents, evict at will and do bugger all to the property, all the while sitting on an increasing asset.
So, when letting out is now a bit less of a licence to print money they are bailing.

I never considered any of my landlords a charity, but I did wonder how it was allowed that they could raise the rent as much as they liked (even the U.S in most states has a max percentage per year) fix nothing, never decorate, for the places out with the cheapest nastiest carpets and plastic laminate and evict at any point after 6 months.
Oh, and the Renters Bill is Tory policy, not Labour.
OP, if you are going to use this legislation tas an excuse to evict good long term tenants, very likely making them homeless, to re-let at “astronomical” rents then I wish you everything you deserve.

I ve got a BTL, bought for a family member to help her out after she was evicted, gives her stability and i ve told her its her home as long as she likes.
She would have been put into council temp BnB or homeless, i couldn't have that.

I don't think LLs quite realise what being evicted does for the tenant, my relative had her hair start to fall out with stress and worry or as i suspect, they really don't care.

I get a 5 or 6% return which is plenty enough, might get more elsewhere but the shroud has no pockets as they say!

The Renters bill will make no difference to me, its almost the same of the Tory one they scrapped before the GE.

Any LL can still evict if they wish to sell or move back in and whats wrong with doing timely repairs?

I'd happily support the GOvt building more council homes, its the only way out for the housing crisis we now have.

My local council is now buying up houses for rental as its cheaper than temp housing.

5-6% return? Really?

Net or gross?