Landlord exodus from the PRS as uncertainty and costs rise

I can only assume this is an INTENDED consequence of government and charities’ actions. A mass exodus of private landlords was entirely predictable.

It’s good news for those former tenants that can afford to buy and actually want to buy. It’s really bad news for millions of tenants that choose to rent or cannot afford to buy.

It’s the constant uncertainty that is the killer. Who knows what any government will dream up next. That uncertainty causes anxiety and frustration- leading to stress. Next step TIA and heart issues. It mattters not what return you may make as a PRS landlord - if you ain’t here to enjoy it and spend it then why stay in it?

What can you expect from hater raynor other than complete contempt for the prs along with her cohorts who with their left wing socialist ideology are hell bent on destroying the prs has it is now.i am a victim of it now and 15 people will be shortly when they get their s21 notice to vacate and l sell up its just not worth the hassle

You still have time to get those S21's as no new regulation has been passed yet and they won't be retrospectively annulled

The government made £47 billion from selling over 2 million social housing homes. And they are still selling them! The government has not built the promised 350,000 homes a year - in fact less than 30,000 - leaving private industry to pick up the pieces. The punitive laws that the PRS sector now face has led to 2500 landlord homes to be sold every month. Over 260,000 have been sold in the last 7 years as landlord leave one investment and invest elsewhere. A simple bank savers account will earn more than the average landlord with a mortgage. The Govt housing departments and their sycophantic charities simply go into stoney silence when confronted with news that their punitive laws have led landlords to sell up, especially those with mortgages. The ignorance of imposing punitive laws without a plan B is an embarrassment and a continuation of scores of wannabe politicians and charities who believe the answer is simple, and just a question of imposing 147 pieces of legislation. Only a deep government pocket can salvage the crisis. No Council or landlord whipping will build 300,000 homes a year. The heat will without doubt transfer from the depleted number of landlords directly onto the housing ministers and their pathetically low budgets.

Reply to the comment left by Cider Drinker at 19/07/2024 - 08:18
Correction: “A mass exodus of private landlords was entirely planned.”

Reply to the comment left by Cider Drinker at 19/07/2024 - 08:18
Whilst Gove and Osborne wanted landlords to sell up so that first time buyers could purchase them, at least there was justification in their reasoning as FTB normally voted Tory, but renters are supposed to be Labour supporters, so has Labour changed sides, or is it they are pandering to their base so much, that they can't see consequences of their actions. Or is it that they don't care.

Reply to the comment left by Mike Thomas at 19/07/2024 - 22:48
Which wouldn't solve problem of lack of homes due to mass immigration as landlords don't alter the ratio of homes to population size. Mass immigration does

I'm a landlord in Southampton. 25 yrs ago 5% of applicants were from abroad. Now 60% are. Legal net migration 745k last year = 6k homes needed/week😮
80% of migrants move into rentals = 5000 extra rentals needed/week😮
Huge extra demand has driven rents up. Meantime the government are throttling the supply by hounding landlords !
As for ending S21. I've never evicted decent tenants. Why would I want to then lose rent !
Ending S21 was an idea from people who have no comprehension of the real world to solve a problem that doesn't exist.

Had enough, section 21 now being issued, working with tenants As AST ‘s Approach the end on other properties section 21s will be used until the law becomes in effect. Then section 8 because the properties will be sold.

Not prepared to continue to live in this constant beating up of landlords who do a great job, have great relationships with our tenants and keep our properties tiptop.

We see more press statements and the mention of bad landlords constantly, this needs to be addressed as the other 95% of us are doing a great job

Separately

The issue on condensation
. As there are clearly damp issues with some properties, none of ours, much of the condensation is well known to be tenant led.
10 years of mtce to other landlord reported damp issues over 10 years - not one was damp - all tenant living styles, all preventable
.
I was recently asked to look at a friends flat , which they owned , Due to apparent damp issues. I gave my opinion that it was Tenant led but we called in the experts. The experts found significant spores in the property and ‘fogged’ To reduce and eliminate all spores.

I had also reported that the property issues was down to the Owners living styles.

Whilst it is clear to many living styles cause condensation which equals mould if not addressed, this person also wanted to have a professional opinion, which confirmed it.

Interesting factor was the dry fogging cleared the spores but at a cost of £1300. Interestingly but not surprisingly , the persons health has significantly improved too.

If every landlord spent this sort of money clearing any known condensation issues which caused similar issues only for the tenant to revert back to the way of living which caused the situation, it would be unsustainable for the landlord cost wise and of course it would be reported as damp not sorted.

Landlords if you do not have extract fans of adequate size and extraction in your kitchen and bathrooms I would recommend humidistat extractors, these cannot be interfered with by tenants. Fit trickle vents, quality not cheap double glazing. Ensure there are windows that can be opened safely to ensure airflow, cavity wall helps to retain heat but if a damp property can make matters worse.

Put clauses in your AST no drying of clothes on radiators.

If there is absolutely no where else to dry clothes as a last resort asked the tenant to dry the clothes on the clotheshorse in the bathroom, open windows, if no windows put a dehumidifier in the bathroom with the cable under the door and the clothes will dry without affecting the rest of the property.

Another thing I’ve seen is landlords taking off the kitchen door to make easy access to other parts of the property, this means all steam that isn’t extracted can find its way to other parts of the property and cause condensation issues. It could also be illegal to remove those doors, depending on the position of the kitchen to other rooms and the property exits .