Tenant groups demand rent caps as Labour faces pressure to tackle affordability crisis

So attack Landlords - Landlords sell up - Tenants have less properties to rent. Therefore, natural laws of supply and demand = rents increase for Tenants.
Solution: Gov needs to stop war on Landlords, recognise the roll they play, and reverse Sec 24, any plans to ban Sec 21 and stop all nonsense about Landlord Register. Istead, implement Tenant Registration to prevent Tenants from Hell suckering another poor Landlord.

The constant talk about rent controls made us change from not generally increasing rents to doing so every year gently. So yet another reason Rent controls are bad for tenants

I don’t think many of Mr Whelans ASLEF members will have a problem paying rent. So” landlords and letting agents have used the cost-of-living crisis to push up rents” Funny I didn’t know that landlords and letting agents costs are fixed making them immune to the cost of living crisis.
“two out of five landlords do not have a mortgage and two-thirds of these mortgage-free landlords increased rent during 20232. Lucky it’s only two thirds should really be all of them. Landlords costs are going up generally plus with the RRB there will be registration and ombudsman schemes and possibly a decent homes inspection to pay for. A rental property is an investment and needs to make a return for a landord after all costs are covered. As house prices increase this also needs to be factored into the rent to maintain a return. If landlords can’t do this it could be more profitable to sell up and invest elsewhere (it will certainly be less hassle and that in itself is worth something). The property won’t be lost but will be unavailable for a tenant to rent unless someone is foolhardy enough to buy it to let.

I explained to my tenant that the current rent she was paying was now less than I can get in any high street savings account (5%+ at the time) I have 3 options. Continue to subsidise your rent and lose money, sell up and get 5%, or increase the rent to at least the same as I could get at the bank. After saying that I still had to pay tax on the whole rent. Pay for a licence, insure it AND pay for repairs etc she agreed to an increase. She even emailed me to thank me for explaining everything in a way she understood. Not having a mortgage on your rental property does not mean you make more money.

I'm based in south-west London and several of my properties are old housing stock which will be incredibly expensive to bring up to a C rating. After I've paid tax on the rent, the mortgages out of what is left over, the license from the local council permitting me to rent them anyway, repairs etc etc there is not exactly a pot of gold left over. Yet I am reviled as a greedy landlord; so much so that I am now seriously wondering whether it is worth my while. Meanwhile several huge corporate-funded developments of flats have sprung up built purely to rent out. A particularly big one of 1500 flats crammed into the minimum possible area has just come on the market with rent starting at £2000 pm for a studio rising to £4000 for a 3-bed all exclusive of utilities. Is this really what the government thinks people want for the future of renting? Is the likes of Shelter and Generation Rent happy about this?

Reply to the comment left by Paul at 15/10/2024 - 15:51
Point taken . What I will say is that the interest rates will probably drop but your rent price will probably keep increasing and even given the taxes and other expenses you will probably be better letting out your property in the long term although CGT may put a nasty dent into your profits. Then if course you may or may not get constant aggravation with the tenant. Plenty to think about plus some

Rent controls don’t work, it’s literally been proven, yet the muppets like Shelter still bang on about implementing them? Perhaps it’s just me, but I don’t get that?

I’m in the process of another tenant moving out (voluntarily) and the condition the house has fallen into in the four years she has had it will be several times the value of the bond to put it right. So what do I do? Chase her through court, spend a fortune and have months of stress doing so, and then have a judge tell me I can afford it because I’m a landlord?

Let’s just say the UK is losing another rental property 🤦‍♂️

Reply to the comment left by Barbara Gwyer at 15/10/2024 - 16:33
and will small private landlords be left with more higher risk tenants?

The way forward are houses for BTL landlords I would avoid adding flats to any portfolio listening to your experience.