0:01 AM, 8th September 2023, About A year ago 11
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Many people think that being a landlord in the private rented sector (PRS) is easy money. They assume that all you have to do is buy a property, find a tenant and collect the rent every month. They think that landlords are greedy, exploiting tenants and contributing to the housing crisis.
Unfortunately, they also listen to organisations like Shelter and Crisis, who claim that landlords are responsible for the poor conditions, insecurity and unaffordability in the PRS.
But this is far from the truth.
Being a landlord is not easy money. It is hard work, risky and stressful.
And, if it really was that easy, then why doesn’t Shelter offer homes to those who it continually carps are ‘facing homelessness’? Let’s look at some of the reasons why everyone wants to have a go at landlords providing a home and why they don’t want to provide homes instead of finger pointing.
Landlords must deal with many challenges and responsibilities that are often overlooked or ignored by our critics.
So, to tenants and those who judge us, here are some of the reasons why being a landlord is not easy money:
Just to highlight the financial penalties that landlords face are steep to the point of bankruptcy. Not registered as an HMO in a selective licensing area? That’s up to £30,000. Not meeting every regulation? That’s another £5,000 for EACH transgression.
Then add into the equation the cost of a new boiler, fixing plumbing problems or repairing the roof. All this costs money – money that landlords MUST find.
Apparently, anti-social behaviour from tenants is the responsibility of landlords. But when we try to evict for this reason, we get lambasted if we use a section 21 ‘no fault’ eviction because this is the quickest way of dealing with the issue.
Renting a property is a demanding and challenging business that requires a lot of time, money, effort and skills. It is not fair or accurate to portray landlords as villains or parasites who are exploiting tenants or causing the housing crisis.
It is also not helpful or constructive to demonise or vilify landlords or call for more regulations or restrictions that will make our lives harder or drive those who get fed up out of the market.
Instead of attacking landlords or blaming us for everything that is wrong with the PRS, organisations like Shelter should try to work with us to improve the sector. They should try to understand the challenges and difficulties that landlords face and help us overcome them.
They should try to encourage more investment and innovation in the sector that will benefit both landlords and tenants.
That’s why I think that Shelter and Crisis should put up or shut up.
Either start renting out homes to all those families you claim are being made homeless by heartless landlords, or rein in the rhetoric that all landlords are bad people.
You will soon learn that being a landlord is not a route to easy money.
We deliver a valuable and vital service that provides homes for millions of people in the UK who cannot or do not want to buy their own property.
Landlords deserve respect and recognition for our contribution and role in society.
But I doubt that will change any time soon.
And that is a shame because with the benefit of hindsight when tens of thousands of homes have left the rental sector, perhaps then you might appreciate us.
But we won’t be here for your apologies and regret – the unwarranted character assassination and the extra legislation helped to push us out.
The critics of landlords won’t bother to house people desperate for a home, that’s not the game they play, but they will have made a bed they will be forced to lie in.
I hope they enjoy it.
Until next time,
The Landlord Crusader
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John Grefe
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Sign Up9:32 AM, 11th September 2023, About A year ago
All governments use the PRS as a cash cow and a political football. I'm sure it was Labour who introduced rent controls & what happened? the sector crashed in disarray. As now landlords left the market creating an even worst situation. Private landlords provide the funds and therefore the accommodation to house renters. Any government can't do it. Can't understand Mr Gove's thinking without being rude. His comrade Osbourne stopped the tax relief on interest incurred for BTL mortgages. This was the start of the current erosion!