NRLA queries plans for a government ‘hardship test’ for landlord possession claims

Reply to the comment left by Charlie Chalker at 13/08/2024 - 09:24
"I’m charging less than the market rate to my tenants"

Your reward for your generosity will be that you will not be able to evict because tenant will by definition suffer hardship if they have to pay market rent - if this law goes ahead.

Reply to the comment left by Paul Essex at 13/08/2024 - 09:09
I agree. If we want to sell we can sell. Tenants understand this when they move in. It comes with the territory, been going on for centuries. I am the owner so if I decided to sell the tenant moved out. Simple.
What next ? ...they tell us we can't sell our cars unless it's for an electric one.
Jeez this country is going to the wall and very quickly !

Reply to the comment left by Charlie Chalker at 13/08/2024 - 09:24
Section 21 then sell it. Get it rolling now before the parasites stop you. I'm only 60 and thinking about selling mine , at 80 it's an absolute certainty.

Reply to the comment left by Reluctant Landlord at 13/08/2024 - 09:30
Even judges are corrupt these days and they aren't accountable for their decisions. I have no doubts at all that they are instructed to keep repossessions to a bare minimum for as long as possible.

I have few BTL properties and I,m completely lost to be honest, what to do next Buy,hold or run away. A bit what confuses me most is:
a) every civilized country with some kind of workforce flexibility needs at least some rental homes.and I believe government officials are not that stupid not to understand that.
b) Large corporations moving in rental sector and buying houses and blocks of flats in a great numbers. And my believe that government intention to get rid of small landlords and instead incentivise big corporations( it's always happens before communism starts,because for government much easier to control 5 companies than millions of people).
c) what I not able understand what it's makes so attractive for big corporations to buy those BTL properties, most of nonsensical rules and policies like hardship test should effect them to.
D) What I think so far they less emotional than individual landlords and they calculate that when rents rising so fast and yields increasing rapidly ( because of Conservatives /Labour joint BTL sector destruction) those corporations could afford few Tennant's not paying rent because rest of the paying Tennant's recoup what is lost and much much more. So when rents rising so fast and Landlords leaving sector,when sector is so short of rental accommodation, corporations clapping hands when they losing competition and hiking rents to the moon. And they think that those new policies not to big deal.
That's only 1 explanation what I can see,but maybe I missing something,I will appreciate if someone give me any more clues what's going on.
Landlord don't be disheartened I know you doing great job and service by fighting this battle against Goliath right now,but I believe we have chance to come out in another side. And it's worth while to do it, for your family,for your Country and for your self. You all are one of few little capitalism sparks what left in that communist Country. Do not give up!!!

This is All a very careful constructed plan if you can’t get the tenants out and you become unable to facilitate a new mortgage because of the tenant not paying their rent guess who’s going to get the house the mortgage company renting it back to the government .

Reply to the comment left by Charlie Chalker at 13/08/2024 - 09:24
Hi I know of quite a few people in a similar position to you.
Although nothings set it looks like cgt will be increased in the budget.
Labour will only make it more expensive for landlords and protect tenants even more.
At your age would SELL ….
Get a good letting agent to check you have all the correct paperwork gscs deposit protection etc in place before you get a good agent to serve the correct notice and paperwork to the tennant.
Explain to the tennant that due to “financial pressures” you have to sell keep them on your side.
Take your profit put it in a easy access high interest account and enjoy spending it

Reply to the comment left by Tomas Zukauskas at 13/08/2024 - 13:36
Your “D” is correct I’ve analysed my market in brighton eg a lazy landlord is getting £1600 a landlord re letting is getting £1800 and a corporate landlord is charging £2400 ! For a similar property Ok so the corporate gives a gym workspace and free internet but there’s a lot of margin for voids and remember most are using pension funds to buy and are paying less for the property. As a landlord I see 2 choices keep costs low and have long term tenants (reminding them they are getting a good deal) or keep the properties immaculate and charge top rents.

Reply to the comment left by Firstpower at 13/08/2024 - 14:43
Interesting point. And a PRS right to buy is on the cards, too, at a discounted price to the tenant to make it affordable.

Reply to the comment left by Mr Blueberry at 13/08/2024 - 18:02
they wont need to buy it at all if it's impossible to evict them!