11:33 AM, 18th November 2022, About 2 years ago 22
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While landlords have never been flavour of the month, we have lost the moral high ground over standards in private rented accommodation and it’s not coming back.
It’s hard to believe that landlord associations do not do more proactive PR work in reaching out to media organisations and that those media outlets don’t bother contacting landlords for our side of the story.
It struck me this week while watching Shelter’s Polly Neate on BBC Breakfast (again) talking about the awful death of a two-year old in social housing that had an incredible issue with mould.
Polly, rightfully, criticised the social housing provider but then went on to say that the situation is much worse in the private rented sector.
I have two issues with statements like this:
I do have a third issue in that presenters and journalists never quiz deeper to find out whether the problem being discussed effects ALL landlords or just a few. They seem to accept landlord criticism at face value.
The difference is never made clear that decent, hardworking landlords are never given credit for providing quality, safe homes for tenants. It never happens.
I could gloat about the news on Property118 that Shelter’s staff are going on strike for more pay because they can’t afford to pay rent – I could highlight why this has come about (read last week’s article) but I feel sorry they can’t afford to pay. Good landlords offer good homes – and most won’t be charging the market rate.
However, when asked about the two-year old’s sad death, Michael Gove said it was incredible that the chief executive of the social housing provider was still in their job. And he is right.
I don’t like to agree with Mr Gove on anything but the problem here is that he is probably thinking that the situation is worse in the PRS. It must be – because that’s all he ever hears.
So, let’s talk about Sadiq Khan and his bid to bring in a two-year rent freeze for London’s tenants.
Yes, the mealy-mouthed politician was deriding landlords while calling for a rent freeze to help tenants. Not landlords – we are so rich that we can easily absorb mortgage rises, apparently.
However, I caught his interview on Good Morning Britain and was staggered when presenter Susanna Reid said tenants would undoubtedly be happy with a rent freeze – but what about landlords?
Khan started his well-rehearsed offering and said that 40% of landlords own their property without a mortgage and said: “The choice is this, people being made homeless because they can’t afford to pay their rent or landlords making a bit less profit. I know what I’d choose.”
Hurrah! Down with those nasty landlords providing homes for people who can’t afford to buy or get social housing.
The issue of banning evictions came up and then came a bombshell.
Susanna raised the problem of Scottish landlords leaving the PRS and Khan raised the 40% of owned rental properties again but was stopped by Susanna saying that if landlords can’t cover their costs, they will simply withdraw their properties from the market.
I was stunned. Am I hearing this right? A journalist who is asking the questions you never hear on the BBC? A journalist who is showing the consequence of what might (will?) happen if rents are frozen.
Khan wriggled and squirmed with his stock reply and seemed to think that landlords who decided to withdraw their property will ‘earn zero’. The prospect of landlords selling up altogether rather than leaving a property empty has obviously never reached his ears.
He also raised the prospect that 40% of Londoners are facing homelessness and dismissed the rising mortgage costs that landlords face.
Watch this because I can’t believe that someone on our side of the fence would be so strident or effective in tackling Khan and his nonsense idea of a rent freeze:
This last point leads me to wonder that if a landlord association won’t step up to defend the PRS at times like these, perhaps it’s time for a character to step out of the PRS shadows to go on TV (not me! I don’t think I could keep my cool…).
For example, Tim Martin owns Wetherspoons and will stand up to discuss the pub and beer industry and Brexit – and other issues.
Is there not a landlord with a large portfolio who speaks at public events not willing to go on TV and tell people what the consequences of a rent and eviction freeze will be? No one?
I appreciate that criminal landlords won’t be reading this because they don’t care about the properties they offer or the welfare of their tenants. They care even less about how this feeds into public perception of our industry.
The drip-drip of negative stories about landlords hasn’t even reached a peak because I look at the upcoming Rental Reform white paper and I’m horrified at the prospect of MPs, media commentators and the likes of Shelter, Crisis and Generation Rent lining up to condemn private landlords everywhere.
And there won’t be a squeak from landlords in the media because we won’t be asked.
If ever there was a time for the PRS to stand up as one, that time is now. We are like a rabbit caught in headlights – except it’s not a car that is bearing down on us, it’s a massive juggernaut that won’t stop until most of us have called it a day and sold up.
What a terrible, avoidable situation this is.
Until next time,
The Landlord Crusader
Luke P
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Sign Up18:15 PM, 18th November 2022, About 2 years ago
You/everyone is late to the party. This has been attempted in numerous guises over the years and landlord apathy is the biggest problem (along with logistical disjointedness) and the Govt. know that. Personally I believe the NRLA are controlled opposition, but either way the Govt. are very well aware the immense power landlords *could* hold if only we were organised...which they'll never allow.
Give them enough rope and they'll hang themselves anyway.
Look at them removing properties from the PRS via the massive £1.9bn contract to Serco. Then there'll be similar sums to Mears Group & Read Homes doing the same thing (housing migrants). These properties are removed from the domestic/native marketplace for upwards of FIVE YEARS. They've bust it and will only continue to make it worse.
Requisitioning property may even be next, but that won't solve the problem, which is shortages.
Bernard Mealing
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Sign Up18:46 PM, 18th November 2022, About 2 years ago
Reply to the comment left by Rod at 18/11/2022 - 15:52
If you incorporate correctly you should have a directors loan account.... ( the money you invested to start the business. Drawn down on that. not taxable as its return of investment... I do thanks to prop 118 etc
Bernard Mealing
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Sign Up18:46 PM, 18th November 2022, About 2 years ago
Reply to the comment left by Rod at 18/11/2022 - 15:52
If you incorporate correctly you should have a directors loan account.... ( the money you invested to start the business. Drawn down on that. not taxable as its return of investment... I do thanks to prop 118 etc
The Forever Tenant
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Sign Up21:14 PM, 18th November 2022, About 2 years ago
The biggest issue I see, is that far too often when you get landlords standing up to be heard, they are saying completely the wrong thing to get the public on their side.
Far too many times I keep seeing things like "I'll evict my tenants and sell up" or "more regulation will push costs onto the tenants with rent increases"
Whereas statements like this may be true, all they are to tenants are threats.
You have to understand that even as much as you may not believe it, you have the position of power. I understand that there are those tenants out there who will cause problems and not pay, but that really is only a small percentage. The rest will spend their time worrying if calling you about a detached gutter is going to end up with a section 21 bring issued.
So when we hear things that are effectively statements to how tenants are going to suffer, it does not ingratiate tenants towards landlords.
It also doesn't help that you have so many people on social media saying what a fantastic money maker rental property is.
I don't know what the solution may be, but I think that some part of it may be that landlords will have to take on some of the burden of increased costs and be considerably more selfless for the next couple of years. There needs to be more stories about how landlords have gone out of their way to make tenants lives better, outside of the minimum expected of them.
Without that, I can see the inevitability of further restrictions and regulation in the future.
Paul Routledge
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Sign Up3:40 AM, 19th November 2022, About 2 years ago
I think like many others I just continue to sell because after 30 years as a landlord and having fought with politicians and shelter alike, I have come to understand that all landlords will always be the politicians whipping boy to look righteous and I also like many others understand that the best thing about banging your head against a brick wall is stopping.
I am just about to split title on another building and sell another 17 flats and offer vacant possession to new owners and that's 17 more rental flats coming off the market so stick that in your pipe Mr Kahn and smoke it 🙂
Mike D
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Sign Up13:12 PM, 19th November 2022, About 2 years ago
The problem are the lies for political gain, poor knowledge of the reality, and weak people not willing to understand the maths or understand the consequences.
In my opinion, these are poorly educated people lacking any real thought.
The NRLA should be this body, but it continues to fail in this liberal Left politics we've had for 25 yrs.
Next year sake of PRS properties will excelerate, covid debts and rising mortgages this time....
But the damage is done already with taxation and legislation . Residential is dead, and as people retire more n more will be sold, HMO s are on there way out with council legislation, licensing and more and valuation office making them flat's...
There is only SA let's left
But where do all the homeless go now the hotels are full too.
2023 with be an earthquake of homelessness to add more pressure to the declining economy rising debts and less tax collection.
The game is up for the political activist they've created the mess and it will be incredibly expensive to solve.
Councils subsidized council houses with council tax, add another £30/40 a month to start subsidizing council houses again....
It's all bad news for the I'll educated Socialist who thinks with their heart and not common sense.
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Sign Up17:48 PM, 19th November 2022, About 2 years ago
Behind the scenes is the horror that common folk have taken housing stock from the big players and are making retirement schemes from it. Little folk like us should know their place and leave self managed investment to the guys who play golf with our politicians...
Duffy
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Sign Up0:07 AM, 20th November 2022, About 2 years ago
Quite simply if you have a fragile little ego or poor self esteem DON'T be a landlord.
Maximise your yields and run your business like one.
As long as you adhere to all the regulations.
A pathetic desire to win a popularly contest is worrying
Fredrick Partey
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Sign Up10:28 AM, 20th November 2022, About 2 years ago
Both Ranjan and TJ would be great spokes people in fact he is a clip of TJ Atkinson speaking up on the BBC https://www.instagram.com/reel/Cj9z6c7oFvo/?igshid=YmMyMTA2M2Y=
cashcow
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Sign Up12:57 PM, 20th November 2022, About 2 years ago
I am guessing Duffy has incorporated .