Landlords quitting is the biggest threat to renters – NRLA

I think Ben Beadle realises that ‘landlords leaving the sector’ is the biggest threat to his job.

No landlords = No NRLA

Maybe the NRLA is to supporting tenants in order to force landlords to remain in the game. Keeping landlords preserves the NRLA membership base.

There was a surge in BTL during the ‘virtually free money’ years following the banking crisis. Investors turned to property in order to preserve the value of their savings and to take advantage of incredibly low interest rates.

Rates have returned to normal and the party is over.

Add in anti landlord taxes, regulations, static or falling house prices and poor public opinion and there is little reason to remain in the game.

Without landlord investment, fewer properties will be built. Some properties will be switched to holiday lets. Meanwhile, the freeloaders will continue to come to the U.K. Homes will be found for them at the expense of UK nationals who’s struggle to find a home will become more intense.

I like so many others have just had enough, all this tinkering by Govmnt just makes it worse for tenants, and i don’t want to be part of it. I have sold one, and it wont take much to make my mind up to sell the rest. Two years to evict a non payer, i’m not in control of my property, too many snakes and not enough ladders in this game now.

NRLA is biggest threat to Landlords.

Reply to the comment left by Cider Drinker at 15/05/2024 - 11:02
Landlords without a financial cushion from past investments in property or other assets are the ones finding it hardest.

When your strategy is built on low deposit, rapid expansion, using lenders' money, you've nowhere to go when mortgage rates increase, and then tenants default. And let's be honest, 'leverage' is still talked about as a viable strategy.

A single default which cost me £20k was 10 years profit from one property. I didn't have a large portfolio to spread the damage, but then again, I was never a 'professional' landlord. But it did push me over the edge with BTL and I now have one remaining tenant before I exit BTL completely. I can only imagine what's been happening with those who entered the PRS over the past 10 years and expanded rapidly using low fixed rates.

I really do fear for traditional BTL, and especially those landlords with one or 2 rentals for their retirement. I don't think it will be what they hoped for.

I fear for anyone hoping for social housing who isn't an asylum seeker or refugee.

I believe the future of the PRS will be 2-tier.

BTL as we know it today will be the large portfolio landlords with traditional housing stock, forced to invest heavily in 'net zero' and always at the mercy of government and councils. For the growing numbers who see rental as a lifestyle choice over ownership, can afford to live in our inner cities, but expect high quality, the future will be BTR.

The big corporates don't worry about Shelter and Generation Rent, and don't need the NRLA to get what they want.

As I've said before, I won't invest another penny in BTL, but have had a little tickle in BTR to see how it goes.

"Bricks and mortar do not sink into the ground, and the home could be bought by another landlord, a first-time buyer or even repurposed for social housing."

Or...sold to immigrants from Hong Kong and India like the last 3 houses that I have felt compelled by current and proposed anti landlord policies to dispose of from my portfolio, all of which had been owned since the 1990s. 2 families relocated out of London and one housing benefit family now languishing in temporary accommodation. Well played GR, well played.

Just waiting to receive the next notice to dispose of more.

Reply to the comment left by Cider Drinker at 15/05/2024 - 09:01
Absolutely spot on CD. Keep ramming the country with people with less and less resources will result in the place sinking. It's not rocket science for some but it certainly is for those running the country. The sooner I'm out of this complete and utter mess of a country the better off I'll be.

Reply to the comment left by Reluctant Landlord at 15/05/2024 - 09:17
Or the National Rolling Over To Tenants Association....

Reply to the comment left by Richard Spong at 15/05/2024 - 10:10
"Why doesn't the LNRA lobby energetically for the re-introduction of Section 24 ?
If Section 24 was re-introduced it would have a massive impact to the sector"

Sorry to be a pedant but ... I think you mean "lobby energetically for the revocation of Section 24".

Reply to the comment left by Cider Drinker at 15/05/2024 - 09:01
100% agree. All this talk about building more houses - No government, not Thatcher, Johnson, Major, Blair etc, ever bulldozed houses. There are more residential properties in the UK than at any time in history, and in my area there are new estates springing up all over the place, in predictably less and less convenient locations, putting more pressure on the roads, sewers, and other infrastructure as well as doctors and schools. The problem is exactly what you said. I had to do a job in a local authority block in Southampton a couple of weeks ago. Apart from the cleaners, I think I heard English being spoken once all morning - by a woman in the lift speaking to me.