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Original poster

Renters Reform - Any Landlords giving up BTL

33 replies

hattie43 · 11/09/2024 18:05

I have one BTL and I'm just not sure it's worth the hassle anymore .
I am concerned about getting rid of Sec 21 and not having control over my own property.

Any other landlords with similar concerns and are you sticking or selling .

OP posts:
MarieG10 · 15/09/2024 06:22

63isMe · 14/09/2024 13:02

Yes -always had long term tenants and charged below market rent and did all repairs etc. Selling now to a guy who will use it as a base in the UK between work contracts abroad. So the incompetent Labour govt has reduced the rental stock.

I’m not a fan of what this government is doing as they basically hate private landlords, but the last Conservative one was no better. Perhaps they might start realising why they are now in opposition as in reality they have been no different to other political parties with being anti landlord and tax and spend

rwalker · 15/09/2024 07:00

TallulahBetty · 12/09/2024 12:01

No such thing as accidental landlords. Please don't minimise what is a conscious choice to set up a residential lettings business (as that's what it is - not just a little hobby or side hustle to get a bit of extra cash).

I think there is
my friend at 51 inherited there parents property 150 miles and they planned to retire to as soon as they were 55 and could grab there pension so rather than leaving it empty for 4 years they rented it so it was lived in and heated

also I know a few people who have rented there property when they moved in with new partner as a safety net in case it didn’t work out 1 went back to it after it didn’t workout and think others have sold

personally years ago I took a 18 month secondment with work over 200 miles from where I lived luckily I stayed with family so could still pay mortgage and afford to heat it and not have to rent it out

KievLoverTwo · 15/09/2024 07:11

rwalker · 15/09/2024 07:00

I think there is
my friend at 51 inherited there parents property 150 miles and they planned to retire to as soon as they were 55 and could grab there pension so rather than leaving it empty for 4 years they rented it so it was lived in and heated

also I know a few people who have rented there property when they moved in with new partner as a safety net in case it didn’t work out 1 went back to it after it didn’t workout and think others have sold

personally years ago I took a 18 month secondment with work over 200 miles from where I lived luckily I stayed with family so could still pay mortgage and afford to heat it and not have to rent it out

Show quote history

If they were thought through and planned, neither of those were accidental landlords.

Tontostitis · 15/09/2024 07:22

As a family we buy derelict or near derelict houses at auction turn them into lovely family homes then rent them out, selling to buy the next one if we need to or to balance capital gains.

Our family skill set is very hard to replicate as you need at least one partner earning to support the one doing the property up who isn't earning. And you need a very wide variety of skills and access to reliable trades if need be.

We haven't made a fortune but we do OK and we love it. We sold up last year and won't do anymore. Section 21 changes don't bother me we've had to use Section 21 and is expensive and onerous but reasonably fair..

Labour have talked about giving tenants the right to buy and that finished my husband he doesn't see why he should put months if work and his heart and soul and money into a property that could be taken away.

The money from the last flat we sold is earning more than we made in rent after expenses

TemuSpecialBuy · 15/09/2024 07:25

j2qb · 11/09/2024 18:15

My DB is an accidental landlord, due to having needed to live in accommodation on the site of his job. So far, it has worked well, but he is definitely mindful that he may need to just get rid of it soon. The property has never, ever, been in any kind of disrepair and any issues flagged by the agent have been dealt with right away. It's a really lovely little place and the tenants have enjoyed living there - usually between house moves or after divorces etc. So the rental housing stock is definitely needed in that area and he is a very good landlord - everything by the book, professional agent, no delay in fixing, mutual cooperation.

I think there are a lot of people who are accidental landlords. People who get together when they both own a property - end up living in one and renting out the other. People who go abroad for a year or two or whatever for work.

In the paper today, there is a Labour MP who rents out several properties. Along with photos of nasty black mould in them. It's aggravating that people like him are part of the problem (he's issued an apology, so that's all fine then Hmm) whereas people like my DB who don't create problems and only rent out a single property, paying tax on the income, are going to potentially end up in situations where it no longer makes sense to rent the property out.

Like most of the idiotic policies, there are going to be unintended consequences. The stock of rental properties is already very low in places where it's desperately needed and the consequences of this policy could be to deplete it further.

Completely agree with this.

i feel sorry for renters because really they are the ones getting shafted.

why they didn’t just put in rent control 20 years or so ago is beyond me

HellsBalls · 15/09/2024 07:40

I’ve looked at the RRB, and I don’t see what the fuss is about.
A Landlord’s business is to rent out property. The RRB does not impede that at all. Professional landlords renting decent properties have nothing to fear.

BookHimDanno · 15/09/2024 07:55

HellsBalls · 15/09/2024 07:40

I’ve looked at the RRB, and I don’t see what the fuss is about.
A Landlord’s business is to rent out property. The RRB does not impede that at all. Professional landlords renting decent properties have nothing to fear.

Can I ask please what is the RRB and what might happen to a professional landlord that doesn’t rent out a decently kept property?

Just wondering if this is why a friends rented place (for last 14 years) is now being put up for sale.

The property was maintained by my friend over the years. In turn for this I guess they’ve ended up paying well below the market rate.

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