Renters face struggle to find homes as supply dries up

I manage my own property and I've just had over 100 enquiries for one house. There was no way I could show all of these around and I had to screen them down to half a dozen.

There were employed, unemployed, families, singles, couples and disabled. It was so difficult and many were very angry when they couldn't even get a viewing.

Those who got a viewing were diverse from all the group's, and it was interesting as the strongest on paper didn't even appear at the top of our preferred list on meeting them.

U want to come Nottingham, it's a License to print money if u a Landlord.
Govt & Councils keep wanting New Build standards, yet aren't paying the Benefit tenants enough to pay for these New Build standards. Recipe for disaster for Benefit tenants.

Can some one explain how a shortage of rentals created by landlords selling the properties?

If a landlord sells the property it will be bought by a 1st time buyer. Then there is 1 less person looking to rent.
If another landlord buys the property he will let it out. so there is no shortage.

Reply to the comment left by at 24/02/2022 - 08:44
3 bed house rented to three singles, who only want to rent, never interested in owning a home, due to transitional work, or uninterest in maintaining a property.

House is sold to a single professional.

3 people no longer have a home, one less house to rent.

Family of 4 unemployed or low income through circumstances or disablement renting a 2 bed home. House is sold and bought by a young perfessional couple who had previously been living at home with parents.

Family of 4 looking for home, one less rental

Young professional couple renting a one bed flat, sold to a single person, that had been previously renting a room in a student house.

One less rental, couple looking for a home.

These samples are endless.

And we haven't touched on the fact that more People are entering the home hunting than the number of houses being built.

Reply to the comment left by Chris Bradley at 24/02/2022 - 09:05
Thank you for the good explanation

The first one I sold was let out to 4 single people. It was bought by a first time buyer who lived there on her own

Reply to the comment left by at 24/02/2022 - 08:44
People always forget the person who can't afford to buy.
People always forget the Housing Benefit tenant that is now homeless & can't buy.
People forget these first time buyers often come straight from parents house, so wasn't renting outright.

If another Landlord buys, u can be sure he don't rent to anyone that's other than super perfect.

Reply to the comment left by Chris Bradley at 24/02/2022 - 09:05With regard to your final paragraph, you have mentioned a fact that so many who use this "one out, one in" argument seem to overlook: every year another tranche of young people leave education and aspire to set up home. Almost all of them will be looking for somewhere to rent and their numbers are nowhere near matched by older renters going into care homes or passing away, buying their own place or being allocated social housing. Immigration is another factor contributing to the numbers of new people looking for rental accommodation.

I posted earlier to say I had over 100applicants for one house.

If an agent had been managing the house, the top applicant on paper would have had first refusal.

I choose the viewers so I had top paper applications and some from vulnerable and benefit and other groups.

The top applicant on paper was given first viewing and all were told not to decide on the spot but to respond within 8,hrs to be considered.

The top applicant wanted it, but we preferred one that was number 6 on the paper list. They didn't have the perfect background but we wanted to give someone a chance. It's a risk, but not much more of a risk that the top applicant who was more transient and unlikely to stay that long.

My point is that many deserving people do not get a chance to even view properties, because the demand not exceeds supply. Iny case by 100:1

Reply to the comment left by Chris Bradley at 24/02/2022 - 09:44
Yes very true,

What looks good on paper doesn't sometimes be good. Letting Agents choose what looks good & they move a year later. So much so that I start to finalise my Letting Agent tenants as u have done, & they now there 4+ years.

And yes unfortunately cause of Shelter & Universal Credit & Selective Licensing, Landlords ain't taking Benefit tenants any more & I've had many Benefit tenants been with me over 20 years. However I ain't taking new Benefit tenants any more that I don't know. Not cause of them, but the system.

I'm sending this my tenants as part of my text for Licensing renewal as the tenants are gonna' have to email Govt to stop this shambles:

Most of u r very good. But are u perfect? Read Licensing conditions and tell yourself first could u comply with all them, second, if u was a landlord getting older, would u want to be dealing with that for EVERY house EVERY tenant? And third, would u take any tenant on that wasn't the most prim proper person ever?
Selective Licensing conditions Feb 2022
https://docs.google.com/document/d/1sD_HRl57ANNw4PBAb-FGRU7h-0Qby9Vm5xLioH_nA7c/edit

Secretary of state email

selectivelicensing@communities.gov.uk