Labour wants to ban tenant bidding wars – landlord explains why that won’t work

When I started in 1984, rents compared to purchase price, the return was 10.4 %. Now it’s 6.7% on the same house.(But then interest rates went up to 17% in 1989 and I almost went under.)

In short, renting has became a lot cheaper relative to house prices.

I wonder if anyone has figures on rents relative to wages?

This matter is just more rhetoric to drive an assumed "problem" to a prescribed "solution".

We are being played, we are always being played.

The problem is not caused by the PRS, it goes much much higher than that, but those who cause these problems are always looking to divert attention away from themselves.

A part of this "play" is that we are at a state of the country/western society, whereby there is an incredible amount of entitlement being being voiced from those who do not have upon those who do.

This is an ever more gradual process of moving to a socialist society, whereby everyone lives at the expense of everyone else.

If we do not understand that the narrative is about gas lighting us into guilt and having our inalienable rights removed then we will give consent for our property to be nationalised.

Bidding for property is as free market as one gets! What .gov wants is for everyone to be a slave to their terms and interfere with every transaction and social interaction we have. Hence, socialism.

The thing is, society has been coerced and cajoled into believing that the state is responsible for giving us a free lunch. The state is not a free lunch giver in any sense of the term and is in fact charging us double for our lunch without our knowing.

As landlords we have been repeatedly punished over the years. BTL for me is a commercial venture, plain and simple.
Government is too big, the more civil servants there are, the more rules and restrictions come into place.
I would be happy to debate any politician on the following points. 1) I should be able to rent to who I want to so long as they are legally resident in this country. 2) I should be able to charge what I want. I am not forcing people to rent from me. The market will dictate the price attainable. 3) I should be able to hold whatever size deposit I want. Again the market will dictate. 4) A tenancy agreement should be viewed as a commercial contract, which when expired means the tenant moves out. I am contracting with adults not children, if they have the right to vote, they should be able to manage their affairs. 5) I should be able to refuse pets. As things stand, I am unable to do any of these, except for No3, which Labour also wish to remove. Over time I think many of us have forgotten just how restricted being a landlord has become. Not only do we need to push back on new legislation, but also we should be seeking to repeal existing legislation. Why should I not charge a larger deposit if there is a greater potential for damage from pets? Why should I not be able to reject a person because they are on benefits that barely cover their rent? Why should I have to serve more notice than the tenant serves me? I provide good quality, clean and well maintained houses. That is how I am able to charge a premium in the area I am in and for the most part attract tenants who wish to pay a little more for a better house (and hopefully maintain it better). The topic of everyone has a human right to a house, is talked about frequently. They don't have more rights to my house than I have, albeit that is the way we are heading. This government has and continues to be a disaster, but electing the opposition will prove even worse for Landlords. Imagine that Ginger Winger representing the UK on a worldwide stage? What has happened to this once great nation?

Well said Mick.
If you get another chance on the airwaves maybe can you address tenants directly and tell them if they vote Labour the housing crisis will get even worse

Reply to the comment left by Peter at 06/12/2023 - 11:08
Wow 1984. Yes I had them high rates on my own house in 1989.

And my yields were 14% in 2009, never bought anything unless I was doing about 14%.

Reply to the comment left by Steve O'Dell at 06/12/2023 - 11:14
Yes we've been gradually drawn into this charitable status & forgetting why many of us started years ago-To make money & to give us something in 20 years time.
I've got loads of houses now I can't get back to sell cause the tenants can't get anywhere. Loads of savings plans I can't have me money back on.

Reply to the comment left by JB at 06/12/2023 - 11:21
They never give us enough time on the radio as they can see where this is going-Hang on a minute, he's making valid points that's it's not the Landlords fault why tenant can't get a house, let's cut him short.
My tenants know more rules come in, more expensive for them.

Reply to the comment left by Mick Roberts at 06/12/2023 - 11:40The worry I have is the next government will make it even harder for landlords to sell their own property, while being forced to accept lower rents for never-ending tenancies. Meanwhile costs will continue to increase.
I am in a position to buy a few properties for cash, but have retired and can think of better and less stressful places for my money.

I have had viewers try and offer me more money to get the property, I just won't entertain, if anything it makes me suspicious. They have told me what they do for a living, normal jobs, no big CEOs applying for my 2 bed flats. Once they are in and the realisation of how much it costs to run a home kicks in, that extra they offered will likely cripple them, if they have an unexpected financial obligation, their rent is the first thing that doesn't get paid and because the Government dictates what I can do with MY property, I can potentially lose up to 6 months rent, if not more depending on how they chose to leave it. It's a tiring constant battle and tenants hold all the cards. I hold my breath at the end of a month waiting until all rents in, thankfully all good at the moment.

Reply to the comment left by Steve O'Dell at 06/12/2023 - 11:14
They want to punish you for a perceived problem that you didn't create and to make it look like you are responsible.
This also conveniently hides the failures of those who are.