No-fault evictions abolished! How Labour will be the end of buy-to-let landlords.
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- Опубліковано 14 жов 2024
- Labour has won a landslide victory at the UK's general election on the 4th of July, 2024.
Their policies on property and housing have already made news, and many see their plan to build £1,500,000 new homes during their term an impossible mission.
Join us in our discussion today about Labour's policies, and let us know your thoughts in the comments below!
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If a tenant and a landlord agree on the length of contract, the government should keep their big fat unwanted nose out of it. The contract is between two people and they are not one of them.
Landlords grumbling with government Are you joking?
The landlord scam is routed in government. 80% of them are landlords.
This isn't about contracts and fixed term (AST) tenancies, it's about periodic tenancies, or 'rolling' tenancies that simply run from month to month, and can be ended at any time by the landlord. I expect the government would welcome more fixed term tenancies with a proper contract between landlord and tenant that can last six months or more.
Oh no...some buy-to-let landords are everyday people. This is the descruction of the middle class.... and who will be the landlord's when they are gone? Are they going to make buying affordable? I DON'T THINK SO!
@@zrymillblame the bloody immigrunts for 45 years of tory and tory light incompetence and believing in the mysterious 'magic of the market place'.
Corporates.
UK. Lloyds, other banks, asset managers & hedge funds.
In the US, Blackrock is buying loads of property.
The WEF is coordinating Governments & Corporates to meet their interests; not the interests of citizens. This is fascism.
Summarised by the WEF quote: "You will own nothing & be happy". Check this out!
Kier Starmer is aligned with the WEF.
For me it’s important as a landlord that my tenants are happy and comfortable. I will never over charge and ask my tenants what they feel comfortable to pay. The world has become a terrible place heavily driven by money. It’s up to us to take the hit to allow others to at least not starve.
That's actually what most landlords want. Happy tenants. Long tenants. No voids. Their property taken good care of.
Sadly the minority spoil it for the majority.
Nah
same here. I was made with a big regret to to increase their rent only after stupid Tory woman with her adviser with the political history degree messed up the interests rates.
@@XPProperty It isn't the minority, let's be honest. The minority are the good ones.
Then you are a very silly LL.
I always charged market rents when I was one as all was interested in was maximum profit
So Keir Starlin is crushing the but to let market. Does he know his mentor Tony Bliar's son is very big on the rental market?
Landlords who kick people out for no reasons .Just means more money for them . Good landlords get tarnished along Bad landlords. Yes the government is right to many bad landlords who have no morals
I'm 63. I can't be doing with labour putting restrictions on landlords. Not at this time of life so I'm selling up and serving section 21 if I can't find an investor. Investors will always pay a percentage of cash, that gets round tax. Governments always mess things up.
Good 👍
If you rent your property out and the person does not want to move out there's absolutely nothing you can do don't have to pay rent and I got the police and the courts on their side and most of them are African renters😮😮😢😢 sham cost me over 12 k repairs 😮😮
Another disgusting greedy racist.
@@James-cs2wi Your silly fault supporting the takeover.
Typical. They are the same here in SA
When will this ‘no fault eviction’ ban come into affect?
Becoming more apparent in October around budget time after parliament resits after summer hols
When no camping in park Lane comes into force lol not not
Labour, council housing waiting list are exacerbated by illegal immigration who go to the front of the queue. The British tax payer is overlooked in favour of the illegal immigrant
Keep believing Farage
@@AgentGreyFox It's a fact. Those deemed with the greatest need go to the front of the queue.
I heard of a case recently. In New York. The tenants had their rent increase by 50%. The Landlord hid behind a LLC and were therefore able to maintain anonymity. Consequently the tenants had no recourse to challenge the rent rises and or negotiate. Also, there is some evidence , landlords are blacklisting tenants(which I can understand in certain circumstances ) and price fixing, They also maintain empty properties in order to keep rents artificially high. These are mostly investors that cause these problems because they usually have no direct human contact and treat their investments purely as stocks or bonds forgetting that there are real humans and family's living there. It may not be against the law but it is wrong. Now, not all landlords are evil .Personally, I would only seek to rent from a private landlord that I can have direct contact with as and when I need to.
Grey belt should be returned back to green belt we need more protected green belt not less
Do you understand what grey belt is defined as?
I’ve never heard of no fault it’s someone’s fault I wouldn’t chase someone out of my shop as long as they are paying it’s the same with rent just pay and you can stay for ever
@Ramblingpete never retire. Never own anything.
It seems like a misguided approach to be honest; if I own a property and I have a lease for a term of X at the end of that term I should be free to decide what I do with my property. IAs they said; make planning and approval for new homes easier and you will find people building more hiomes, ooh what a surprise. Let less migrants in and there will be more homes. Do something real and things that require a bit of backbone and things will turn around. This is just pandering to the people who add little to the country,
"who would ever do a no fault eviction as a landlord?" - well I guess you're fine with abolishing it then? The threat of that basically means tenants have to cough up 10%+ annual rent increases with new contract otherwise they'll get the S21. Now tenants can say "fuck you, ypu're only entitled to increase 5% each year and I'm not moving, you take me to court if you want me out".
Most landlords don't think like that at all. They think "I don't want to increase the rent too much in case my good tenant leaves". The transactional costs associated with voids between tenants, paying agents to refill the tenancy, and hassle isn't worth the increase in most cases.
10%+ increase in rent is sometimes still lower than market rent if the landlord hasn't increased rent for 3 years or so (which is absolutely the case often). It's all relative.
@XPProperty That is not true. You can not speak for most.
My lets form a large part of my retirement investments, having worked for myself most of my personal pensions are not good. You have to remember the public sector, including MPS, have fantastic pensions scheme so they do not need this sort of investment income. They look after themselves and do not want others to have what they do not.
And if course its likely our state pensions will be means tested
A lot do want to kick them out for not paying or getting greedy putting up the rent especially if they are mortgage free. I've rented where several are bit declaring income!
Why wouldnt a landlord kick someone out if they're not paying? They're providing a sertvice, they should be paid.
Good.
Great conversation, I agree overall with your thoughts but thought I may share some thoughts. I am a landlord/developer in mainland Europe living and working in London and surely something needs to be done about the buy to let which I find a morally dubious concept where you are not creating any type of value but instead just lead to rent increases provided you are doing long term rents. If you are doing short term rentals however then you are actually providing value by offering up good accommodation, cleaning etc that is less available and obviously providing a gap in the market. Except the service you are providing you also are taking on the risk of low seasons and pandemics etc which could mean that the income gets zero while you don't have that financial risk with a long term tenant. As a developer however you ARE providing value as you are creating new housing and/or improving the build quality of existing housing stock and provide value that way. It would be great if less people would do buy to let to make the UK and I guess London primarily more affordable as the proportion with your wage vs rent payment is one of the highest in the world. As per the mortgages then the US fixed rate mortgage certainly would allow more people to feel comfortable purchasing property in the UK as you can take out a mortgage you know you can pay for instead of not fully knowing. It's funny that people say interest rates are very high currently considering they are, despite the recent increase, still historically low. Also Portugal has 25-35 years fixed btw and perhaps some other European countries too.
Imagine if tennants could spend their wages on their own families. Wouldn't that be great.
Probably end alot of poverty that.
And where would they live with no landlords? Really?
@pennysmith9999 Well, they could buy their own houses.
Thank you
the end of buy to let (IE landlords), will mean even higher rents for tenants. slow clap, Labour. we wait for Oct 30
Personally I would never had allowed buy to let mortgages at all,only my opinion but do these not cost more than traditional mortgages therfore rent us dearer for tenants,it's a ratio if affordable houses built by builders but they are reluctant to have a bigger amount of affordable homes in the estates they build,when old thatcher allowed council homes to be built it should have been a rule that every home lost to council stock should have been replaced but it's way too late now.
90% of landlords give the other 10% a bad name.😂
Why do you think it's a right to be able to make money as a landlord? For example, do you think it's a right to make money off the back of the prison sector? Healthcare? There are lots of sectors where commercialisation or profiteering is frowned upon.
If, say, we adopted a German model for renters' rights and many commercial landlords dropped out of the game, would this be a bad thing? In Germany: landlords don't keep spare keys, renters can withold rent if repairs are not made, renters can give notice at any time (with a 3 month period), the landlord can give notice given a period of 3 months (increasing with tenant longevity)
Tenants can withhold rent whether or not repairs are done in the uk...and some landlords have lost their properties because of that.
Quite obviously you don't own a property to rent out. Shame
Heading for communism with this lot.
With you on most points.
I live in Germany and no fault eviction is generally not allowed here.
Landlords still make profits...
We can also challenge rent rises. Which is good!
Many landlords do take the mick, so it's needs tk be controlled.
Also most rental contracts here have 0 end.
Lastly you guys view everything as the "market", whereas housing simply isn't the same as same selling a cake...
Without a house you are f*cked
Yes it is.
Housing is just another cake.
It matters not how much in demand properties may be.
Withtout food you are f*cked, so I think everything has a 'market'.
I do agree, Germany do a lot of things right, and we could take inspiration from some of the red tape and control. There are certainly some landlords that spoil it for the few, but 43% of UK landlords own just 1x property and generally those are accidental/pension pot lanlords that actually service their tenants very well.
@@XPProperty
Indeed LL generally offer an effective service.
It has only been the false siren calls of the housing charities like Shelter that has led to all these changes.
The PRS hasn't been perfect but it has still been very successful.
@@XPProperty well my point was that cake isn't necessary... obvs certain high end properties aren't either.
And yes food is necessary obvs, but not comparable. Food is in massive abundance, most Western countries can on paper feed way more than needed. Food banks everywhere. Worst case u can dumpster dive or ask restaurants for leftovers...
Now while there in theory is also too many homes (many vacant), many aren't in locations people can live (no work). So there is a shortage.
This shortage or supply crunch puts way more power in landlords hands. So rebalancing that with for example no fault evictions, unlimited terms, challenges to rent rises, would mean people can rent and build lives in the same area. Moving every year or 2 is expensive and destructive. You cannot make friends or keep a job easily.
You are literally providing places where people raise families. It's not at all like food in that sense.
And if you only see it as a market thing, then poor you. What a sad view of the world you have.
Landlords also have ownership of the property after the tenants have paid their mortgage off for them. Which they can sell at a massive profit. Buy to let is a massive exercise in wealth and asset extraction by a few from the many, it must be outlawed and a million council homes built. And tough luck to the NIMBYs and buy to let parasites. Get a proper job and stop sponging of the rest of us
Great video gents!
Thanks very much! Do you think a labour government will be good or bad in general?
I have tenants, and never raised the 3 bedroom massive Victorian house rent from £600 ten years ago…average rent in area for same is £1,200. She is illiterate and both her and her son are on Sick Benefits, also he has such a volatile, violent temper which he cannot control. If I raise the rent they will have to move. I feel really sorry for them, so it’s a difficult situation for me. I have voluntarily spent over £20,000 in improvements over last 4 yrs, which they don’t appreciate at all. The house was previously owned by the Estate Agents parents and is now in pristine condition. I could evict them over his antisocial behaviour, but I just couldn’t do it to them. Now all these Govt regulations being introduced places all the advantages with them. GO FIGURE.
My advice to anyone considering buy to rent…DON’T !!!
Sorry to hear you've got this dilemma
I agree; landlords are always painted as the villians, it simply isnt true. The fact is that people who work hard and use what they earn to invest in property deserve to earn a return. Most landlords treat their tenants with respect, but the government who has made building new homes ridiculously difficult just targets the productive people in society. the Government has caused the problem through insane levels of migration of people who have no skills, and who are in the UK to milk the system. The governmant keeps making in harder for people with skills to enter the UK and easier (just get a dinghy) for those that no one else wants. This increases pressure on housing (surprise!) and they react by atacking landlords.
Like to hear their side of this fiction 😂
@@paulgibbons2320 obviously you’re an envious non landlord.
@@XPProperty thank you…
I can t wait until (as usual) the losers get what they want. The people who cry about private landlords for no reason other than envy as far as I can see, I say give them what they want. I look forward to the suffering their will have to endure when they landlord is no longer some middle class, middle aged person who broadly just wants a bit of passive income and wants a good tenant, who pays their rent and minimal stress. They are going to be in for a world of pain when their new landlord is Blackrock, who spends hundreds of millions of £ on lawyers, knows the law inside and out, deals with thousands of possessions claims on a weekly basis and is utterly unscrupulous and meticulous with their properties. I mean, the fundamental reality is that removing s21 just means that insurance is probably going to be a necessary part of being a landlord and those costs will be passed onto the market. Just like in everything, if the risks of an enterprise increase, then the person taking that risk is going to expect to compensated more for assuming the higher risk. That is econ 101 and I have no idea why it wouldnt apply here.
labour are going to destroy private landlords take my advice and sell
Fingers crossed!
people that think this is a good thing haven't a clue about how the economy works
Rent is a crime against humanity
@@therealrobertbirchall Same as tax isn't it, let get rid of the lot!
Oh no, wouldn't that be a shame!
Surely you could have tidied your bedroom, made your bed etc before filming this? In my view, if you do not pay attention to this detail, what detail do you miss in your ‘job/professional’ role? Does not inspire confidence.
Not sure what that's got to do at all with being a good property developer. We are extremely detail orientated and we prove that time and time again with our projects. Being OCD about a tidy office is not something i rate highly as a skill.
Tell me why buy-to-let landlords are good for anyone but themselves? Or landlords at all for that matter.
The way I see it is that people with enough wealth can buy properties and extract money from people who are looking for a place to live. Whilst the property also increases in value.
Consider me illiterate on the subject. My mind can be changed if you show me compelling arguments.
Why is it wrong for say me, to have a house and just about enough money to invest into another house, and then rent it out to people who can't afford to buy that house?
can you explain your view on that?.
Your argument can be used in any aspect of life. Are the supermarkets and grocery shops villains for making money out of food?
Another point that always gets missed is that some people don't want to buy a home. They don't want debt, they don't want to maintain the property, they are in a new relationship, a new job, a temporary contract...etc etc.....
The only difficult balancing act I can see is when a renter wants to buy a home but they cannot save because they are paying rent. In that case, there are already provisions in place for first time buyers, but I think more could be done. I thought the Conservatives idea of making a sale exempt from CGT if you sell to your existing tenant was a good idea.
23% of renters are in the private rental sector. That is massive demand, and increasingly growing. Most landlords provide quality housing supporting that demand. A few spoil it for the many.
Like with every single thing in the world, where there is demand, someone has to supply.
50% of those landlords have just 1x property that they bought for themselves, circumstances change, they move out and become an accidently landlord and see this as a great opportunity for their future pension. Everyone should see that with our ever growing population the current pension system can last and people should think about taking their pension in to their own hands instead relying on the state which is wastful and inefficient with tax payers money.
I concur with you. Why shouldn't people supply something that is much needed?!
They should! We can't rely on the government to provide all rental stock.
Exactly that, supply and demand!
In todays world of nomad living and global interconnectivity there are a lot of people who don't want to be ties down to one place.
Great, landlords have had it good , now they have got to make good the homes they rent.
Great the sooner they all go the better. Build millions of council houses and end but to let landlords. Happy days.
How do you propose we will build that many homes? And who will then cater for the private rental sector?
builders build houses and fuck the private sector
@@XPPropertythey managed it in the 50's.
@XPProperty we don't want a rental sector. We want people to feel secure in the homes they own.