Tenant evictions surge as rent reforms backfire

Reply to the comment left by Mr Blueberry at 23/04/2024 - 13:51
From what I see in London the BTR try to sell the "life style" and are already a lot more expensive than even the good quality houses in the surrounding area.

Whose property is it? Landlords, tenants or the governments?
We take all the risk, they dictate how we look after our properties.
By all means make it difficult for bad landlords but to tarnish all with the same brush is unfair.
Guess what, I am not letting my propert any more. I will move family in and then sell at the appropriate time.
Another family the local authority will have to house.

BTR is not an issue as they are only interested in tenants that pay !, they also often provide complexes with built in gyms etc. The rest of us with our 1950's/60's properties are left to house those that would have been in council houses.

Reply to the comment left by GlanACC at 27/04/2024 - 09:22
No more will I house those who should have been in council houses. I have upgraded and now will only take solid gold tenants.

Just had a tennat of 9 years go bad on me. 7 months no rent, court and bailiff costs and delays. 10 years to the day.

Another 2 months to put right the state it was left in. Nine months lost income but still, the expenses of the property.

It was a close decision to sell or rent.

Upped rent by 25% to at least get a little back.
Of course as LL we are forced to relet otherwise HMRC doesn’t allow the expenses incurred in putting the property back together. Beware LL of this rule.

Decided to move one of my other tenants across to this bigger property, as good tenants.

A quick decorate of the flat they left but now left with the decision again. Sell or Rent

My gut tells me keep and sell in 5 years but with a change of gov’ hmmm.

In 5 years the legislation would have had its effects and consequences, perhaps to the extent where amendments will be needed to rebalance the fairness and practicability vv reality.

If I know it takes two years to sell, I just need to plan it in.

As LL we take all the risk.

Fortunately I am still able to undertake many repairs and renovations, but there will come a time when I either do not wish to or cannot and the viability of properties are under a new consideration.

With the age of many landlords, like in many sectors of the UK, they are reaching a time of retirement and pulling in their investments. Therefore there will be a lot of section 21 going on at the moment, I suspect there are several 21s going on at the moment to move tenants on!! Leaving other LL who would have to go through it all again.

They keep asking for a landlord register for the good and who is bad, I don’t see that as a bad thing as long as they’re a strict criteria. With this register being able to be accessed to put a parallel landlord perspective. Of course that will never happen..

New landlords are wondering what to do, can you afford to sell up now and continue your life the way you wish it?

Are you prepared to continue in the market with increased risk and uncertainty. Are you prepared to sit it out and see whether amendments and legislation brings back a more balanced view for the landlord and their investment.

Alternatively, you could cash in pay your capital gains, put the money in the bank, receive at the moment and interest rate probably close to what your returns are, but that’s not guaranteed for the future. And gradually eat into your Interest and capital, watching your capital decline. Vv the property market.

Of course, vv that you haven’t got the hassle in property management as a landlord.

I suspect your age would dictate your choice.