Landlords are not banks but the banks want to become landlords. This bill helps pave the way . Banks can absorb non payment problems in a way no other business can . Small time landlords are being pushed out to make way for them. The banks have to do something else when CBDC comes in. This is not about helping renters. It will push up rents . If that was the intention something far more subtle and nuanced would be needed to protect tenants and landlords.
Exactly if these guys think bob from down the street is bad as a landlord and it is literally serfdom, they should just wait and see what happens when a faceless multimillion £ corporation like HSBC becomes their landlord. The banks will wring them out like a wet towel for every last penny
I had 2 flat investments i sold one this year and felt so sorry for my tenant she payed her rent on time she was the perfect tenant thankfully she could move back to her parents house....and next month ill have to serve notice to a young couple with a new born....i have no choice the way these incompetent ministers are making it impossible for landlords to survive ...all they are doing is hurting the renters.....rentals will end because we have such fools running this country....
What I hope is that the 'newly homeless' will remember who caused this - the Labour Party ...BUT let;s not forget that the Tories might have done the same. Then again, they were'nt Tory, rather a Liberal-Left Party that lost its morals in 2008 when Cameron took over.
We have had these for three years in scotland , i have 260+ applicants in 24 hours for a flat ! All these changes have added up to a really bad deal for tenants , as they will tell you . This is about “ you will own nothing and THEY will be happy!
There is only 3 English guys on my company out of about 60 , I have been told by at least half they are planning on going back to their own countries within one year, they are fed up with the crime , and lower living standards here in the uk. They wasn't saying this a few months back , thanks labour.
Just got back from Poland, it’s clean, civilised, safe, homogeneous and while incomes are lower than UK the standard of living is higher. I have no idea why Poles would want to remain in the UK. If could I would move to Poland, it’s like late 20th-century Britain.
@@davidgifford8112 Yes, I hear the same. I read an article 2 years back saying that by 2040, Poland is likely to have a bigger economy than UK. Not sure whether to believe that, but it seems like it's a country on the UP....unlike UK, which has been going down for 20 years, thanks to successive LIBERAL-LEFT Governments.
Do you really think that crime and the low living standards only began since Labour have been in power? 14 years of Tory government is the cause. Working people didn't have to use food banks before they came into power and the root cause of most crime is poverty, the poverty that the Tories created. The rich got richer on their watch, but there is only so much money to go around which means that everybody else had to get poorer. Wake up and stop believing Rupert Murdochs propaganda machines.
@@DoFeedThePigeonswell probably move it out of the country to places like Dubai where they pay no tax at all. So no income for the government at all. What you going to do for your tax income now? Before making comments like that maybe go and have a look at tax rates during the 70s which is what Labour want to take us back to. 33% basic rate tax that everyone has to pay.
Only the very best tenants will be selected, leaving many more thousands homeless. I’ll never take a gamble on a tenant again now the rules are tightening.
I'm appalled by all this. I have been a landlord for more than 20 years. Most of the time my tenancies become periodic and I have had tenants staying in a flat for 6 years. She is a good tenant but I've also had bad tenants who literally try to destroy my property in order to accuse me that my property is not to standard .... tenant expecting more than £200 in repairs per month when they break things intentionally. Tenants who bring animals and create a cat flea infestation refusing the pay for the treatment which I have had to carry out as a matter of emergency. Tenants who will drive you crazy .... because they are tenants and I'm a landlord. In a particular situation I've bent over backward to keep them "happy" and I got insulted .... with this bill I will have no right to refuse animals in my property .... and let's not forget the buy to let was created because there is a shortage of good rental properties and now we, landlords are beign penalised yet again ....
let s say my case in my propriety lanlord did in 10 years (changed a wash machine , and changed the shower both were from 2000s ) noth else i kept it clean every time it needed a repair i repaired myself since i needed to miss from work just to get some1 to fix it + the landord is making a fuss every time i mention a repair i let him repair one thing in 10 years a guy came didn t fix it i lost that day of work as well + he made a fuss about it .... but the rent went up since 2016 it s almost double now even it s a little cheaper than the others around the propriety cost he bought it was 30k £ i pay around 15 k yearly this year so stop mentioning complaints since there are a lots like me in London at least i m not sure about rest of Uk.
It’s not worth letting out your property because not all landlords are bad people some have to sell their homes for financial reasons so all this is going to do it cause a shortage of rental properties and drive the prices up more
I'm a renter. If the situation on the rental market gets any worse in England I'll just pack up and move abroad. Wages are crap, I make less money now than during CvD19 and everything is 50%+ more expensive. There are bearly any well paying jobs, business is crap and rents are getting really stupid now. My long term rental flat used to be cheap, but now every landlord, including mine, has jumped on the greed wagon (I think his mortgage might be paid off, but the Agent just tries to keep increasing the rent, now twice per year). I've cost the landlord almost nothing in the last few years. In the last 5 years they didn't even bother to do the boiler safety check, I reminded them last year, this year nothing. Living in a country where it rains half the year, in a dindgy apartment that costs a small fortune. How not to get depressed. Thinking about potentially moving to somewhere cheap like SE Asia for a couple of years. You only live once. No point slaving for the modern Western rubbish standards of living.
Smart move. Look at Vietnam and Thailand. Penthouse condo's going for $500 pcm. I own a few places mortgage free and thinking the same. Cost of living is crazy here now
I'm the same I've never thought I'd move abroad but I am, I've studied and now that I'm qualified I can work remote and rent for 300 per month beach front worth the risk
@Roundhead75 Agreed Ironically enough Labour promoted themselves as if they were going to take the UK back to the 1950s & in someways they have but not in this country But Russia & Vietnam
@@CalumRoberts-i1x I even remember starmer telling us he's kicked the fa-r le-ft from the party, but this is the most ideological party I think I have ever seen, sorry about the weird spellings , youtube obviously aligns with labour and get my comments deleted if I use certain words, 1984 style.
Oh in Commiefornia you can’t evict tenants without paying them extortion money, you can leave for work and come to find a squatter call the cops they present a fake lease and the cop says sorry they stay you have to go to court to evict them… they want corporations to own all the homes. Why is the question?
We rent my father’s home to pay 1/3rd of his care home fees so not in it to make any profit or be rich by any stretch of the imagination and along with that comes the stress of renting so this new legislation is the final nail in the coffin and we are selling. This thick government are going to create a housing crisis like never seen before in modern Britain.
In my city in Canada, this week, the property assessment roll for 2025-2027 jumped 30% on average, it was all over the news. The property value I am renting in has jumped 50% and houses I was looking at jumped a 100 000$....so it is crazy on the other side of the world too 🤔 Rents are gonna go UP!
Took me nearly 2 years to get an eviction. He owed me 20k in unpaid rent and on day of eviction he wrecked all the furniture, there were drugs everywhere, empty alcohol bottles. It was horrific, I had to pay to remove all carpets and curtains. This was someone that passed all checks using Experian. I found he was a serial liar and all his references had been faked. He somehow managed to get through all checks carried out by a major letting agency.
You could not be more ignorant of the risks of being a landlord. !! Get rear real. Pay a managing agent 8per cent of rental income plus 20 per cent vat. The scary prospect of actually buying a dishwasher fridge freezer job and washing machine. Maintaining them and and a plumbing system, heating and electrical system for every day of your ownership. Getting no tax relief at all. Then paying thousands of pounds in selling fees, legal fees and then CGT. You know zero.
The private rental sector is propping up the housing shortage for tenants and landlords are exiting the market which will make this situation worse. Councils are not building social housing. What on earth are successive governments thinking and who are they taking advice from!! Landlords should be supported and schemes put in place to encourage more landlords not less, the very opposite of what’s happening.
You're joking, right? Landlords don't build the houses but they DO buy up much needed social housing and massively jack up rent prices way beyond what a lot of families can afford, how is that propping up the sector? Landlords contribute nothing to society.
If you don't you own a property out right, you shouldn't be a landlord. You are relying on others to pay your mortgage because you didn't expect interest rate to go up. It's a well known fact that if interest rates go down and then you buy they will go up at some point. Don't rely on other to bail you out when you try to create your wealth off poorer people.
@krpkrp3033 I would take that one step further... you can not rent a property unless you can buy the land and build the property without using any debt first. One of the reasons house prices are far too high is because people thought they could make easy money by getting a mortgage on a second home when mortgage/interest rates were low(creating demand) and now, because mortgage/interest rates have risen sharply, they expect the renter to foot the bill for their financial problem. If land has to be bought and housing built, without any debt, it would keep rent prices lower as mortgage/interest rates won't affect their income, and the house prices will come down as the demand for existing stock reduces. Also, another idea(which some councils have done) is drastically increase council tax on second homes to the point that it's almost unaffordable to own a second home. B&B's, hotels, camping sites, caravan parks, etc. would also benefit, helping the economy by providing jobs and income.
@gazsm1 you would be right, if very large corporations including banks, weren't buying up properties in the place of landlords. Thus government knows these steps are bad for tenants, its their intention. "You will own nothing a be happy".
Landlords should be valued, supported and financially incentivised. Landlords are desperately needed and the sooner the UK government realise this the better.
I recently got out of the business as it’s becoming unmanageable, sold 12 properties to buyers wanting them as their own home. So that’s 12 less rentals in my region no doubt many will follow suit.
Good riddance, more homes for actual people. Stop acting like you were doing some sort of public service (it was a business!)… and I’m a landlord myself. Nothing worse than landlords expecting sympathy from people who would do anything to own a home.
The government seems to forget you can get 5% in the bank. So if you are going to rent a property you want 7% return so a £250k semi 7% + buildings, boiler, payment insurance + management fees = about £2k a month, any one letting their property for less than £1500 a month is making a loss and would be better off selling up and putting the money in the bank. The rental market seems to be the only business where you are expected to do something for nothing and get blasted in the media, landlords are evil, no they are business trying to make a profit like ever other business in the country
How about if investors don't buy all the houses they can on as small as a deposit they can then whine when the interest rates go up. The "investors" should have known interest rates aren't going to stay at .1% for long.
We are selling our rental and the lovely local lady and daughter aged 16 will be looking for another house after 10 years. Our mortgage makes it not worth it. We deliberately kept the rent low about 150 below the market rate. Mortgage finished in 2 years and its interest only. Would like to keep it but we are retired and cannot maneuver as we once could financially.
My wife and I have lived in the same house for 40 years. It was the be best house we could afford and our 3 children grew up happily in what was quite a cramped space. Eventually, we had paid off our mortgage but still had 2 full time wages coming in so we decided to buy a rental property, 20 years ago. We didn’t bother with buy-to-let, we just took out a mortgage over 20 years but we always made overpayments (at a time when moneylenders didn’t charge extra for making overpayments). Overtime, governments tweaked the rules which landlords had to abide with and eventually we decided that we didn’t need the hassle any more. It had become more of a burden, owning a rental property, and we could tell that we were being squeezed out of being able to make money so we sold up. If anybody asks us now, about buying a rental property, we say “Don’t bother, it’s too much hassle”.
My friends has just been given notice to kick them out before they can’t. The landlord is going to sell it to avoid being stuck with it. I suspect lots of landlords will do the same. Difficult for renters when there are no houses to rent, and prices will go up………
My wife inherited her mothers property. First tenant lovely. Second tenant a friend. Third tenant a lovely couple. Too much good luck to last, there will be no fourth tenant.
The fact is that there needs to be a balance between the rights of both parties. Too strong on one side and landlords will not rent,but sell and the amount of rented property goes down,so proces will rise. Too strong for the landlord and renters get taken advantage of.
I understand but ive been through 3 different landlords and when reporting damp and stuff i got given a section 21 for no reason . Always paid rent on time , spent money on doing the house up and garden to be thrown out . There are alot of bad landlords that use the section 21 to get away with sorting out the house and they use any reason to evict me and my kids . Been in my rented house now for 10 years , never see my land lord been waiting on new carpets for 5 years , front door looks like a kid could kick it in . But its scary now reporting stuff incase a section 21 comes through my door . And it does happen alot .
For any money spend you should bill the landlord email or text them the recept(keep the orginal for yourself) you shouldn't spend a penny on your landlords property it is their property not yours so any problems are their responsibility unless it is claused into your rental agreement.
I rented out my mother`s property, to help pay towards her residential home care costs. Thank the Lord, that I sold it when she died. It certainly didn't make me rich by any stretch of the imagination!!!! Even if I had not had to use all the rent on care home fees, after tax, it was certainly not enough to live the high life!!!
Fair play small landlords I respect but not ones with mass portfolios..there's got to be limits on rents and the amount of property one individual can own
I have three friends who are landlords who have sold all their properties because of these new laws and the threats from Labour. That's twelve homes no longer on the rental circuit. Prices will go up.
No bidding wars? ridiculous. The Landlords will offer at a very high rent and whisper to the agent that they might look at offers under. So you move from an auction to a Dutch auction. The end result will be, as usual, higher rents for tenants. Landlords will demand electricity meters to ensure tenants are heating adequately during winter to prevent mould. Or incorporating electricity in an increased rent. Result... more costs for the tenants. Just look at the restrictions on deposits... right away, deposit insurance schemes popped up. Result.. higher costs to the tenants. No fees for referencing. Result... Landlords ask for a higher rent to cover these costs. All the laws put fear into landlords... Result is landlords flocking to comprehensive insurance and therefore a high bar for tenants to get over with CCJ's refused, only PAYE's accepted etc. Meanwhile I have seen rents (I monitor around 300 apartments in Central London) go steadily up and up like never before.. And properties renting in hours and days.. not days and weeks. Selective licence schemes which restrict 2 bed appts to 2 tenants. Whereas previously they might of had 3 or even 4 tenants like 2 couples. I have never seen so many actions in the last few years designed to put so many people on the streets. Its shocking.
The issue is Landlord's have mortgaged upto their eyeballs in debt. They failed to account for risks of higher interest rates and tenant's pay the price. If it was upto me I would be going alot alot further. To be honest Landlords have had it too good for far too long. They taken on absurd amount of debt and gambled that rate's would stay low. Personally I think if your buying a property to rent out then a maximum of 48% of a property value should be allowed to be mortgage. You are not allowed to refinance until the debt is gone and if intending to take out loan while renting it out should be no more than 48% of the property value.
No one has a buy to let with 10% deposit. Those types of landlord left the market around 2007. 75% deposit is common, apparently its better from an inheritance tax point of view. Interest rates aren't that high, but they do impact the cost of renting. If the cost of producing a tomato goes up, then you would typically expect the cost of buying a tomato to rise in line with that. A company might take the hit from their own profit margin for a time, but ultimately the price will increase. The real issues (beyond population level and increased demand) are that successive governments have deliberately implemented policies that have driven up rents. Much of it tied to the green agenda, but for some regions, it's an extra way for councils to make extra income out of landlords and sooner or later that cost gets passed on to the tennant. Even if every landlord was mortgage free, costs would still have risen steeply.
@@Marvin-k1g Unfortunately your wrong it wasn't so long ago one of the mainstream banks was asking just a 5% deposit. The very same greed and high leverage if not much higher leverage is still in the markets if anything it's much worse than 2007. I also completely disagree that cost's would have risen steeply. Cost's have risen so much because stupid people watch stupid people on UA-cam on how to get rich quick leveraging upto their eyeballs in debt. It's clear you have some sort of skin in the game and as such name 5 significant policy changes over the last 14 year's that has had a significant impact on price ie Conservative rule. From my prospective the Conservatives bent over backwards for Landlord's so much so I would have said it was landlords calling the shots and not the government.
What they need is to provide those wardrobes that have a dryer inside. I used to get mould from hanging up clothes but once I got the drying wardrobe, cost £50-100. I use it as a heater in winter whilst it drys clothes. Cheaper than the radiator. No mould. So I think that’s something landlords can look at to prevent mould.
I rented to a woman who ripped the house apart. Every door was smashed, every wall was demolished. The neighbours (who I knew well) were suffering I had to take a massive hit to evict her. One of the near neighbours was her Dad and he he was lovely and he didn't know she'd smashed it up. He was really old. She never let anyone in. To avoid her causing a rift (She quibbled over the bond so I had to let her have it, or her Dad wouldnt have coped) I agreed in the end to absorb thr bond loss as well what was well over £2,000 + in materials for repairs then about £500 in deep clean.( And the neighbour who was a builder did it for next to nothing as he knew I'd evicted her and lost rent and bond) absolute mess. I had put in abrand new boiler that year and the builder had told me the house was ripped apart inside.
I had exactly the same thing, wife lost her job in COVID, so we needed to sell the property to reduce our own mortgage and the tenant smashed the place up cost me £000’s to get fixed and certainly reduced the sale price.
People forget that in the early 1980's there was no rental market. If you rented from a private landlord the rent was restricted but you could not move without losing that tenancy. If you rented from the Council or Housing Association you were lucky. New prospective tenants had few options. We are headed back there... Best buy a tent or a van to live in.
My landlord has given me a notice since june the property that i am renting has been sold. I am still looking for another property the rental market is through the roof in scotland! High rental costs!
i have been living with damp and mould in my house, its £1500 a month rent and have absolutely no leverage to get the thousands owed to me by the landlord for beds, clothing and equipment which has been ruined. The letting agent tells me they havent been able to reach the landlord. As a renter i feel we need more rights. 20 years i have been renting with my family and am yet to find a decent and humane landlord,
Not worth the risk anymore. Ive got good tenants in our property and Im a good landlord, always fix anything straight away. Had new washing machine and oven sorted within days. But its just not worth the hassle, hope current tenants stay for a while, but once gone I will sell.
Rents have to be capped. I've just had an increase in my rent by £160 and can't afford another increase. If their is another increase I will be in danger of being evicted for rent arrears.
There are a lot of risks being a landlord, you have to go into letting with your eyes open, you also have to be aware that at any time the tenant will stop paying it will then take you up to 2 years to get them out and it will cost you thousands in legal fees, and normally thousands to make the property ready for the next tenant
And we "Renters" are not banks neither !!! Our salaries are not going up, but all the bills have shot up in the last few years and keep going up. Rent is getting increased every year. Where do they think we are going to get the money from to pay all of the costs of living. We only have limited time to work and earn money. We cant work 50 out of 24 hours a day?!
@@FREEDOM-4-PALESTINE my last tenant bed selling up never put the heating on, opened windows and had clutter and storage boxes against vents. She caused residual condensation and triggered mould to start growing and also put wet clothes on the radiators to dry. I had to call in a decorator to scrub the ceilings and repaint them with special paint. In 20 years I never had this mould thing as an issue until the perfect storm of sky high energy costs and an ignorant tenant who couldn’t see she was triggering conditions. So glad I’m out of that game.
We want to go abroad travelling,were in our 60s and own our house outright, weve put everything in the house correctly,the house is cosy,warm and clean ,weve been hanging on for these new rules and now we know the score we wont be letting our lovely home our,were done.
@@blademaiden4498 thats the worry,we've done everything the estate agents asked,we felt good knowing we can offer someone a lovely home to rent but now we will sell and move instead and we both said we will not put the rent up every year,we are not greedy folk but its easy if you don't have a loan on ur house but now no way will we take the risk renting it out.
Renters don’t use heating properly. They turn the rads off in the bathrooms. Block vents in bathrooms to “keep the cold air out.” Then there’s a mould issue. Then it’s the landlords issue. I’ve had great tenants and some terrible ones. I Was super happy to get away from that. The rights are stacked in favour of the tenants. it’s not fair and it’s not balanced.
Boohoo you can't blame all your mouldy properties on tenants anymore. Problem with landlords they expect to be the only sector, the only investment that comes with 0 risk, that isn't business
Renting out was stressful. Luckily i used a good agent. They provided some tenants who needed to be kept in check though. As a landlord i did everything to keep these ppl happy. Everything in the house was new. Eventually sold only to find out that the renters had taken the carpets. Even though they had good credit. I think renters should be comfortable and we were just unlucky however the same protection should be given to landlords. If the renters cause major damage or loss the landlords should be able to easily file a claim and recoup damage costs taken from future income from renters. The deposit system is not effective enough.
Going to have to put rent up to compensate. All stick together governments want to help renters . The should help landlords to deliver fair rent . If the costs to businesses go up, they have to raise their prices is fucking simple economics.
I had to leave my flat last year and move home because the price of rent went up so harshly. The price of rent and bills Vs monthly pay is absolutely ridiculous now
I have thankfully never had to go to court to evict but imagine having to wait 2yrs with a tenant not paying rent to get an eviction proceeding.. Any landlord including myself if they went through that hell would just sell up.. It needs to be fair on both sides, before removing S21 make sure the courts can deal with the extra workload so landlords can when they rightfully are due can get a quick hearing to evict bad and non paying tenants.
I sold my rental because of my council's licensing policy. What they have done is split the communities into zones and said only private rentals within their boundaries will be licensed. So the ones who are not as not even getting touched and some of these do not even look after their properties. One where I live is in a mess and has rats running about the front of the property as the tenants have that much junk and household waste in the front. Side and back of the property. The tenant has 5 kids and one of the fathers to two of the children is having to go to court for full custody of his children. The social, council do not care. Other landlords are selling up as well in my county because of the council and government now. 22 houses off the rental market so far this year.
Rent is far to high as it is ,I'm paying 850 for a bedsit before bills after bills 1200 I earn 1500 a month so 300 left to feed my self and to get to and back from work, I haven't been able to buy any clothes or go out sosolising for the last 2 years, talking to other people in my situation the 2 options are get fired from work and go on benefits or get a caravan and live on the side of the road
Labour, statement , we will build 300 thousand homes a yr, they may well, but they will not be for sale, you will rent for life, pay to corporates, and small landlords get screwed with taxes. These Build To Rent are popping up all over London. Will these new rules also apply to large private corporations. If not, there will be uproar. One of Many! Canary Wharf Group receive £535m loan for Wood Wharf BTR has secured a loan from Cain International and Starwood Capital Group for a new Build to Rent development.
They cannot build 150,000 homes in a year so 300,000 is another Labour pipe dream. I doubt if they will build even 150,000 a year, Labour told Wimpey Homes to build at least 50% affordable homes, Wimpey stopped building and locally, building sites seem to be slow walking developments. Don’t know if that is a national observation but certainly local to me.
It wouldn’t affect Landlords as much if landlords had bigger deposits and smaller mortgages, they’d have more money in their pockets in the long term and wouldn’t be in as much of a problem when tenants don’t pay or interest rates go up…
Am sorry no bank should be lending money too those that carnt pay, of your a landlord and relying on rent too pay that mortgage and it goes higher then clearly bank and owner are at fault. You carnt have a system that is relying on that payment from tennat that extremely bad credit checks from banks and not doing financial stress test they should be on any borrowing. Think those landlords that rent too council tennats should only charge council rates. It's been a disgrace that biggest issue that nobody talks about is the amount of housing benefits 15.6billion , housing benefit and government should of put a cap on rents, and would of stopped so many landlords. Now with so many MPs having rental properties they won't do that.
Non sense reeled up by political play and jealousy. The fact is the house price increase so much that new buyers could not afford. Landlords want good tenants who rent for a long long time, there’s no reason to make them move out if it is absolutely necessary.
Landlords selling houses will lead to normal buyers having more stock available to buy and possibly at a lower price. As a landlord myself I’m struggling to see how that is a bad thing. Many renters would love the chance to buy a property but are stuck in the rental trap. Of course talk TV and its equivalents are never going to speak about this subject in that vein as they are no friends of the working people. What they don’t realise is the lack of a home ownership class is creating a generation of non home owning anarchists.
This isn't going to allow lots of tennants to buy. Banks and large corporations have been buying up property since at least 2019. Certain banks are deliberately moving into the rental market. The government strategy will not benefit tennants, it benefits big business and is part of Starmer davros/WEF agenda.
Commercial property all the way. Dont deal with domestic lets... It's not passive, and it's aggro. Rent to buy is needed across the nation. Too many folks paying too much in rent to landlords of all types. Homes don't need a middleman.
Or we adopt the swiss model where homes are seen as a right and shelter is a basic need of a citizen! I say more council homes, less private rental sector and more home ownership!
Homes are for living but they weren’t created solely for that purpose. The bank needed something to sell their new product - mortgages. You’ve always been fleas in a box. Harder for the people that have ‘made it’ to accept.
If landlords sell up, it will drive up houses available for sale and lower house prices. First time buyers will be happy most of which are renters. Great stuff 👍🏻👍🏻👍🏻
Anybody with a sensible mind knew this was coming. More regulation = Less people taking on buy to lets = higher rents due to less rentals overall being available. A popular view is that those houses/properties that were previously buy to lets will become available for those looking to buy, but what is apparent to me is that not many people can afford the properties already on the market that are being sold... so what happens? The lower price property becomes high demand due to desperation of actually having somewhere to live, vs a house that people really want and this will drive house prices up further.... It's a perfect storm with interest rates coming down too... The real solution in my view is that the government should start building more council property which will eventually tip things back the other way.... But they won't, because for the most part, MP's own their own home and know exactly what this means for them. This is overall a bad move that will see a huge swing back for the Conservatives as it is so key for people's quality of life to feel secure in their own homes. If you don't believe this will happen, you only have to look as far as our cousins out in Canada and see how lack of housing and foreign investment has driven the markets to levels where many will never own a home.
@@basicfilmblog New labour was no better. Mass building and conversion of properties for student housing in central Manchester drove up prices. Many would have been bettter off, working, buying their home and delaying uni, or not bothered going in the first place.
Buy to let should be taxed to the hilt , middle class landlords trying to get rich of the back of the working class . Let some poor b8stard pay for there house then hand it over to one of there kids when they want a pwoperty.
Landlords are not banks but the banks want to become landlords. This bill helps pave the way . Banks can absorb non payment problems in a way no other business can . Small time landlords are being pushed out to make way for them. The banks have to do something else when CBDC comes in. This is not about helping renters. It will push up rents . If that was the intention something far more subtle and nuanced would be needed to protect tenants and landlords.
Exactly if these guys think bob from down the street is bad as a landlord and it is literally serfdom, they should just wait and see what happens when a faceless multimillion £ corporation like HSBC becomes their landlord. The banks will wring them out like a wet towel for every last penny
I had 2 flat investments i sold one this year and felt so sorry for my tenant she payed her rent on time she was the perfect tenant thankfully she could move back to her parents house....and next month ill have to serve notice to a young couple with a new born....i have no choice the way these incompetent ministers are making it impossible for landlords to survive ...all they are doing is hurting the renters.....rentals will end because we have such fools running this country....
What I hope is that the 'newly homeless' will remember who caused this - the Labour Party ...BUT let;s not forget that the Tories might have done the same. Then again, they were'nt Tory, rather a Liberal-Left Party that lost its morals in 2008 when Cameron took over.
I'm sorry you had to go through that king. I hope she left you a tip for emotional support, landlords are not appreciated enough in society
We have had these for three years in scotland , i have 260+ applicants in 24 hours for a flat ! All these changes have added up to a really bad deal for tenants , as they will tell you . This is about “ you will own nothing and THEY will be happy!
How much have the rents gone up in that time of 3 years?
@@oblong3039in Edinburgh it’s been about 25% minimum.
@@mattj905 dam thats a lot
bet they were indians! they leave flats stinking.
There is only 3 English guys on my company out of about 60 , I have been told by at least half they are planning on going back to their own countries within one year, they are fed up with the crime , and lower living standards here in the uk. They wasn't saying this a few months back , thanks labour.
I'm the only English guy in mine. Wonder what the real Immigration numbers are
Just got back from Poland, it’s clean, civilised, safe, homogeneous and while incomes are lower than UK the standard of living is higher. I have no idea why Poles would want to remain in the UK. If could I would move to Poland, it’s like late 20th-century Britain.
@@davidgifford8112 Yes, I hear the same. I read an article 2 years back saying that by 2040, Poland is likely to have a bigger economy than UK. Not sure whether to believe that, but it seems like it's a country on the UP....unlike UK, which has been going down for 20 years, thanks to successive LIBERAL-LEFT Governments.
Do you really think that crime and the low living standards only began since Labour have been in power? 14 years of Tory government is the cause. Working people didn't have to use food banks before they came into power and the root cause of most crime is poverty, the poverty that the Tories created. The rich got richer on their watch, but there is only so much money to go around which means that everybody else had to get poorer. Wake up and stop believing Rupert Murdochs propaganda machines.
@@burnaardnufc3173 your birth ?
I have just issued a section 21 to my tenants earlier this week - am selling the house - no longer worth it
Where’s your passive income going to come from now 😂
I bet you wish you could up the rent even more and screw everybody.
Just buy the property keep for 2 years. Then sell for profit. Do in a company tho. Less tax to pay.
Or reuse the money to get another property
@@DoFeedThePigeonswhere are renters going to live you lemon
@@DoFeedThePigeonswell probably move it out of the country to places like Dubai where they pay no tax at all. So no income for the government at all.
What you going to do for your tax income now?
Before making comments like that maybe go and have a look at tax rates during the 70s which is what Labour want to take us back to. 33% basic rate tax that everyone has to pay.
Only the very best tenants will be selected, leaving many more thousands homeless. I’ll never take a gamble on a tenant again now the rules are tightening.
I'm appalled by all this. I have been a landlord for more than 20 years. Most of the time my tenancies become periodic and I have had tenants staying in a flat for 6 years. She is a good tenant but I've also had bad tenants who literally try to destroy my property in order to accuse me that my property is not to standard .... tenant expecting more than £200 in repairs per month when they break things intentionally. Tenants who bring animals and create a cat flea infestation refusing the pay for the treatment which I have had to carry out as a matter of emergency. Tenants who will drive you crazy .... because they are tenants and I'm a landlord. In a particular situation I've bent over backward to keep them "happy" and I got insulted .... with this bill I will have no right to refuse animals in my property .... and let's not forget the buy to let was created because there is a shortage of good rental properties and now we, landlords are beign penalised yet again ....
Poor you...
I’ve just sold mine because of this…
Sell up then and stop crying, nobody is forcing you to be a landlord. 🤣
@@monojit0739 I'm selling my properties .... the losers will be those looking to rent a property because there will be nothing available ....
let s say my case in my propriety lanlord did in 10 years (changed a wash machine , and changed the shower both were from 2000s ) noth else i kept it clean every time it needed a repair i repaired myself since i needed to miss from work just to get some1 to fix it + the landord is making a fuss every time i mention a repair i let him repair one thing in 10 years a guy came didn t fix it i lost that day of work as well + he made a fuss about it .... but the rent went up since 2016 it s almost double now even it s a little cheaper than the others around the propriety cost he bought it was 30k £ i pay around 15 k yearly this year so stop mentioning complaints since there are a lots like me in London at least i m not sure about rest of Uk.
It’s not worth letting out your property because not all landlords are bad people some have to sell their homes for financial reasons so all this is going to do it cause a shortage of rental properties and drive the prices up more
I'm a renter. If the situation on the rental market gets any worse in England I'll just pack up and move abroad. Wages are crap, I make less money now than during CvD19 and everything is 50%+ more expensive. There are bearly any well paying jobs, business is crap and rents are getting really stupid now. My long term rental flat used to be cheap, but now every landlord, including mine, has jumped on the greed wagon (I think his mortgage might be paid off, but the Agent just tries to keep increasing the rent, now twice per year). I've cost the landlord almost nothing in the last few years. In the last 5 years they didn't even bother to do the boiler safety check, I reminded them last year, this year nothing.
Living in a country where it rains half the year, in a dindgy apartment that costs a small fortune. How not to get depressed.
Thinking about potentially moving to somewhere cheap like SE Asia for a couple of years. You only live once. No point slaving for the modern Western rubbish standards of living.
Asia has better housing standards?
Seriously? I really doubt.
Smart move.
Look at Vietnam and Thailand.
Penthouse condo's going for $500 pcm.
I own a few places mortgage free and thinking the same.
Cost of living is crazy here now
I'm the same I've never thought I'd move abroad but I am, I've studied and now that I'm qualified I can work remote and rent for 300 per month beach front worth the risk
@farallimacha why don't you go out there and do your research you'll be surprised
@@farallimacha£1000 per month for 1 2 bed apartment that's not even bills and tax you think that's good standard of living ?
Labour are about to punish anyone who didn't for them
Talk about refusing to unite the country
Couldn't run a bath!
That's what happens when you elect activists and not politicians.
@Roundhead75 Agreed
Ironically enough Labour promoted themselves as if they were going to take the UK back to the 1950s & in someways they have but not in this country
But Russia & Vietnam
@@CalumRoberts-i1x I even remember starmer telling us he's kicked the fa-r le-ft from the party, but this is the most ideological party I think I have ever seen, sorry about the weird spellings , youtube obviously aligns with labour and get my comments deleted if I use certain words, 1984 style.
@@CalumRoberts-i1x I did send you quite a lengthy reply but commietube deleted it , 1984 .
@@Roundhead75 Good One!
These people are lunatics & will hopefully lose the next election by a landslide
Oh in Commiefornia you can’t evict tenants without paying them extortion money, you can leave for work and come to find a squatter call the cops they present a fake lease and the cop says sorry they stay you have to go to court to evict them… they want corporations to own all the homes. Why is the question?
We rent my father’s home to pay 1/3rd of his care home fees so not in it to make any profit or be rich by any stretch of the imagination and along with that comes the stress of renting so this new legislation is the final nail in the coffin and we are selling. This thick government are going to create a housing crisis like never seen before in modern Britain.
In my city in Canada, this week, the property assessment roll for 2025-2027 jumped 30% on average, it was all over the news. The property value I am renting in has jumped 50% and houses I was looking at jumped a 100 000$....so it is crazy on the other side of the world too 🤔
Rents are gonna go UP!
Took me nearly 2 years to get an eviction. He owed me 20k in unpaid rent and on day of eviction he wrecked all the furniture, there were drugs everywhere, empty alcohol bottles. It was horrific, I had to pay to remove all carpets and curtains. This was someone that passed all checks using Experian. I found he was a serial liar and all his references had been faked. He somehow managed to get through all checks carried out by a major letting agency.
You could not be more ignorant of the risks of being a landlord. !! Get rear real. Pay a managing agent 8per cent of rental income plus 20 per cent vat. The scary prospect of actually buying a dishwasher fridge freezer job and washing machine. Maintaining them and and a plumbing system, heating and electrical system for every day of your ownership. Getting no tax relief at all. Then paying thousands of pounds in selling fees, legal fees and then CGT. You know zero.
Rayner needs to go
Sold my rental property, felt we were subsidising bad renters, Labour plans tipped us over the edge
Thank god.
Hopefully more follow
"you will own nothing and be happy"
The private rental sector is propping up the housing shortage for tenants and landlords are exiting the market which will make this situation worse. Councils are not building social housing. What on earth are successive governments thinking and who are they taking advice from!! Landlords should be supported and schemes put in place to encourage more landlords not less, the very opposite of what’s happening.
You're joking, right? Landlords don't build the houses but they DO buy up much needed social housing and massively jack up rent prices way beyond what a lot of families can afford, how is that propping up the sector? Landlords contribute nothing to society.
If you don't you own a property out right, you shouldn't be a landlord. You are relying on others to pay your mortgage because you didn't expect interest rate to go up. It's a well known fact that if interest rates go down and then you buy they will go up at some point. Don't rely on other to bail you out when you try to create your wealth off poorer people.
@krpkrp3033 I would take that one step further... you can not rent a property unless you can buy the land and build the property without using any debt first. One of the reasons house prices are far too high is because people thought they could make easy money by getting a mortgage on a second home when mortgage/interest rates were low(creating demand) and now, because mortgage/interest rates have risen sharply, they expect the renter to foot the bill for their financial problem. If land has to be bought and housing built, without any debt, it would keep rent prices lower as mortgage/interest rates won't affect their income, and the house prices will come down as the demand for existing stock reduces. Also, another idea(which some councils have done) is drastically increase council tax on second homes to the point that it's almost unaffordable to own a second home. B&B's, hotels, camping sites, caravan parks, etc. would also benefit, helping the economy by providing jobs and income.
@gazsm1 you would be right, if very large corporations including banks, weren't buying up properties in the place of landlords. Thus government knows these steps are bad for tenants, its their intention. "You will own nothing a be happy".
That is true of our entire economic system though. Our economy including the govt is mostly financed by debt.
Mine puts mine up every year... Would be nice to have a year off to be honest.
Problem is the country doesn’t allow everyday workers to buy. The banks and government have screwed the everyday working people
Landlords should be valued, supported and financially incentivised. Landlords are desperately needed and the sooner the UK government realise this the better.
Load of tosh, the country needs less of the parasite class.
No what the country needs is a better way of life so people can buy a home for themselves and there family.
amin brother!
if you could buy a place for yourself we wouldn’t need any greedy/cost cutting landlords
I recently got out of the business as it’s becoming unmanageable, sold 12 properties to buyers wanting them as their own home. So that’s 12 less rentals in my region no doubt many will follow suit.
Good riddance, more homes for actual people. Stop acting like you were doing some sort of public service (it was a business!)… and I’m a landlord myself. Nothing worse than landlords expecting sympathy from people who would do anything to own a home.
Aww! Poor you! You only owned 12 properties? Life can be tough, eh …
The government seems to forget you can get 5% in the bank. So if you are going to rent a property you want 7% return so a £250k semi 7% + buildings, boiler, payment insurance + management fees = about £2k a month, any one letting their property for less than £1500 a month is making a loss and would be better off selling up and putting the money in the bank. The rental market seems to be the only business where you are expected to do something for nothing and get blasted in the media, landlords are evil, no they are business trying to make a profit like ever other business in the country
How about if investors don't buy all the houses they can on as small as a deposit they can then whine when the interest rates go up. The "investors" should have known interest rates aren't going to stay at .1% for long.
They are evil. Get a job 😂
We are selling our rental and the lovely local lady and daughter aged 16 will be looking for another house after 10 years. Our mortgage makes it not worth it. We deliberately kept the rent low about 150 below the market rate. Mortgage finished in 2 years and its interest only. Would like to keep it but we are retired and cannot maneuver as we once could financially.
My wife and I have lived in the same house for 40 years. It was the be best house we could afford and our 3 children grew up happily in what was quite a cramped space. Eventually, we had paid off our mortgage but still had 2 full time wages coming in so we decided to buy a rental property, 20 years ago. We didn’t bother with buy-to-let, we just took out a mortgage over 20 years but we always made overpayments (at a time when moneylenders didn’t charge extra for making overpayments). Overtime, governments tweaked the rules which landlords had to abide with and eventually we decided that we didn’t need the hassle any more. It had become more of a burden, owning a rental property, and we could tell that we were being squeezed out of being able to make money so we sold up. If anybody asks us now, about buying a rental property, we say “Don’t bother, it’s too much hassle”.
My friends has just been given notice to kick them out before they can’t. The landlord is going to sell it to avoid being stuck with it. I suspect lots of landlords will do the same. Difficult for renters when there are no houses to rent, and prices will go up………
My wife inherited her mothers property. First tenant lovely. Second tenant a friend. Third tenant a lovely couple. Too much good luck to last, there will be no fourth tenant.
The fact is that there needs to be a balance between the rights of both parties. Too strong on one side and landlords will not rent,but sell and the amount of rented property goes down,so proces will rise. Too strong for the landlord and renters get taken advantage of.
This stops landlords from keeping a tenant long enough to pay their mortgage off for them then evicting them to sell and make a tidy profit.
I understand but ive been through 3 different landlords and when reporting damp and stuff i got given a section 21 for no reason . Always paid rent on time , spent money on doing the house up and garden to be thrown out . There are alot of bad landlords that use the section 21 to get away with sorting out the house and they use any reason to evict me and my kids . Been in my rented house now for 10 years , never see my land lord been waiting on new carpets for 5 years , front door looks like a kid could kick it in . But its scary now reporting stuff incase a section 21 comes through my door . And it does happen alot .
For any money spend you should bill the landlord email or text them the recept(keep the orginal for yourself) you shouldn't spend a penny on your landlords property it is their property not yours so any problems are their responsibility unless it is claused into your rental agreement.
Keir and the WEF demand higher rents (supply vs demand )
and they welcome you to their Hunger Games 🎉
Blackrock will buy these properties.
This is a plan.
I rented out my mother`s property, to help pay towards her residential home care costs. Thank the Lord, that I sold it when she died. It certainly didn't make me rich by any stretch of the imagination!!!! Even if I had not had to use all the rent on care home fees, after tax, it was certainly not enough to live the high life!!!
Labour are going to take my family home away… we’re right at the threshold for tax now.
Punished for living in London.
We did the same , luckily the tenant quit soon after my passed away so the property can now be sold
So sorry to hear that@user-ug8wx5er1w
Fair play small landlords I respect but not ones with mass portfolios..there's got to be limits on rents and the amount of property one individual can own
I have three friends who are landlords who have sold all their properties because of these new laws and the threats from Labour. That's twelve homes no longer on the rental circuit. Prices will go up.
Seriously? Landlords selling houses adds supply to the housing market which people buy then lowering demand which makes prices go down.
No bidding wars? ridiculous. The Landlords will offer at a very high rent and whisper to the agent that they might look at offers under. So you move from an auction to a Dutch auction. The end result will be, as usual, higher rents for tenants. Landlords will demand electricity meters to ensure tenants are heating adequately during winter to prevent mould. Or incorporating electricity in an increased rent. Result... more costs for the tenants. Just look at the restrictions on deposits... right away, deposit insurance schemes popped up. Result.. higher costs to the tenants. No fees for referencing. Result... Landlords ask for a higher rent to cover these costs. All the laws put fear into landlords... Result is landlords flocking to comprehensive insurance and therefore a high bar for tenants to get over with CCJ's refused, only PAYE's accepted etc. Meanwhile I have seen rents (I monitor around 300 apartments in Central London) go steadily up and up like never before.. And properties renting in hours and days.. not days and weeks. Selective licence schemes which restrict 2 bed appts to 2 tenants. Whereas previously they might of had 3 or even 4 tenants like 2 couples. I have never seen so many actions in the last few years designed to put so many people on the streets. Its shocking.
Landlords have no say in whether their tennants heat their homes.
The issue is Landlord's have mortgaged upto their eyeballs in debt. They failed to account for risks of higher interest rates and tenant's pay the price.
If it was upto me I would be going alot alot further. To be honest Landlords have had it too good for far too long. They taken on absurd amount of debt and gambled that rate's would stay low.
Personally I think if your buying a property to rent out then a maximum of 48% of a property value should be allowed to be mortgage. You are not allowed to refinance until the debt is gone and if intending to take out loan while renting it out should be no more than 48% of the property value.
No one has a buy to let with 10% deposit. Those types of landlord left the market around 2007.
75% deposit is common, apparently its better from an inheritance tax point of view.
Interest rates aren't that high, but they do impact the cost of renting. If the cost of producing a tomato goes up, then you would typically expect the cost of buying a tomato to rise in line with that. A company might take the hit from their own profit margin for a time, but ultimately the price will increase.
The real issues (beyond population level and increased demand) are that successive governments have deliberately implemented policies that have driven up rents. Much of it tied to the green agenda, but for some regions, it's an extra way for councils to make extra income out of landlords and sooner or later that cost gets passed on to the tennant.
Even if every landlord was mortgage free, costs would still have risen steeply.
@@Marvin-k1g Unfortunately your wrong it wasn't so long ago one of the mainstream banks was asking just a 5% deposit.
The very same greed and high leverage if not much higher leverage is still in the markets if anything it's much worse than 2007.
I also completely disagree that cost's would have risen steeply. Cost's have risen so much because stupid people watch stupid people on UA-cam on how to get rich quick leveraging upto their eyeballs in debt.
It's clear you have some sort of skin in the game and as such name 5 significant policy changes over the last 14 year's that has had a significant impact on price ie Conservative rule.
From my prospective the Conservatives bent over backwards for Landlord's so much so I would have said it was landlords calling the shots and not the government.
Lots of small flats suddenly for sale in Bristol, i think the growth in interest rates has made it less easy to make money out of buy to lets
What they need is to provide those wardrobes that have a dryer inside. I used to get mould from hanging up clothes but once I got the drying wardrobe, cost £50-100. I use it as a heater in winter whilst it drys clothes. Cheaper than the radiator. No mould. So I think that’s something landlords can look at to prevent mould.
I rented to a woman who ripped the house apart. Every door was smashed, every wall was demolished. The neighbours (who I knew well) were suffering I had to take a massive hit to evict her. One of the near neighbours was her Dad and he he was lovely and he didn't know she'd smashed it up. He was really old. She never let anyone in. To avoid her causing a rift (She quibbled over the bond so I had to let her have it, or her Dad wouldnt have coped) I agreed in the end to absorb thr bond loss as well what was well over £2,000 + in materials for repairs then about £500 in deep clean.( And the neighbour who was a builder did it for next to nothing as he knew I'd evicted her and lost rent and bond) absolute mess.
I had put in abrand new boiler that year and the builder had told me the house was ripped apart inside.
I had exactly the same thing, wife lost her job in COVID, so we needed to sell the property to reduce our own mortgage and the tenant smashed the place up cost me £000’s to get fixed and certainly reduced the sale price.
Tenants will be referenced to the moon and back...
Thats exactly what i am going through in scotland! Its ridiculous!
People forget that in the early 1980's there was no rental market. If you rented from a private landlord the rent was restricted but you could not move without losing that tenancy. If you rented from the Council or Housing Association you were lucky. New prospective tenants had few options. We are headed back there... Best buy a tent or a van to live in.
unlucky for all the 50+ aged landlords who are taking advantage of young broke people so they can do nothing
My landlord has given me a notice since june the property that i am renting has been sold. I am still looking for another property the rental market is through the roof in scotland! High rental costs!
i have been living with damp and mould in my house, its £1500 a month rent and have absolutely no leverage to get the thousands owed to me by the landlord for beds, clothing and equipment which has been ruined. The letting agent tells me they havent been able to reach the landlord. As a renter i feel we need more rights. 20 years i have been renting with my family and am yet to find a decent and humane landlord,
Needs to be laws if tensnts destroy property and garden also
Not worth the risk anymore. Ive got good tenants in our property and Im a good landlord, always fix anything straight away. Had new washing machine and oven sorted within days.
But its just not worth the hassle, hope current tenants stay for a while, but once gone I will sell.
Rents have to be capped. I've just had an increase in my rent by £160 and can't afford another increase. If their is another increase I will be in danger of being evicted for rent arrears.
Sorry I think you are looking for a communist country.
There are a lot of risks being a landlord, you have to go into letting with your eyes open, you also have to be aware that at any time the tenant will stop paying it will then take you up to 2 years to get them out and it will cost you thousands in legal fees, and normally thousands to make the property ready for the next tenant
And we "Renters" are not banks neither !!! Our salaries are not going up, but all the bills have shot up in the last few years and keep going up. Rent is getting increased every year. Where do they think we are going to get the money from to pay all of the costs of living. We only have limited time to work and earn money. We cant work 50 out of 24 hours a day?!
@@FREEDOM-4-PALESTINE my last tenant bed selling up never put the heating on, opened windows and had clutter and storage boxes against vents. She caused residual condensation and triggered mould to start growing and also put wet clothes on the radiators to dry. I had to call in a decorator to scrub the ceilings and repaint them with special paint. In 20 years I never had this mould thing as an issue until the perfect storm of sky high energy costs and an ignorant tenant who couldn’t see she was triggering conditions. So glad I’m out of that game.
@@queenofmyownuniverse2339 not her fault she couldnt afford it. You on the other hand could of put measures in place to stop the mould.
@@queenofmyownuniverse2339 Should of lowered the rent then so she could afford heating, Isn't easy coming to terms with your own greed!!!
We want to go abroad travelling,were in our 60s and own our house outright, weve put everything in the house correctly,the house is cosy,warm and clean ,weve been hanging on for these new rules and now we know the score we wont be letting our lovely home our,were done.
Leave your home empty for any length of time and the council can and will find a tenant against your will.
@@blademaiden4498 thats the worry,we've done everything the estate agents asked,we felt good knowing we can offer someone a lovely home to rent but now we will sell and move instead and we both said we will not put the rent up every year,we are not greedy folk but its easy if you don't have a loan on ur house but now no way will we take the risk renting it out.
Renters don’t use heating properly. They turn the rads off in the bathrooms. Block vents in bathrooms to “keep the cold air out.” Then there’s a mould issue. Then it’s the landlords issue. I’ve had great tenants and some terrible ones. I Was super happy to get away from that. The rights are stacked in favour of the tenants. it’s not fair and it’s not balanced.
Boohoo you can't blame all your mouldy properties on tenants anymore. Problem with landlords they expect to be the only sector, the only investment that comes with 0 risk, that isn't business
Renting out was stressful. Luckily i used a good agent. They provided some tenants who needed to be kept in check though. As a landlord i did everything to keep these ppl happy. Everything in the house was new. Eventually sold only to find out that the renters had taken the carpets. Even though they had good credit. I think renters should be comfortable and we were just unlucky however the same protection should be given to landlords. If the renters cause major damage or loss the landlords should be able to easily file a claim and recoup damage costs taken from future income from renters. The deposit system is not effective enough.
The next step in Blackrock's plan to own all housing as well. If you can't see what's going on yet you really need a dose of smelling salts
Going to have to put rent up to compensate. All stick together governments want to help renters . The should help landlords to deliver fair rent . If the costs to businesses go up, they have to raise their prices is fucking simple economics.
My three bed house has been trashed three times, no more tenants without some protection from them and the incompetent authorities!
sell it
As already said, why not just sell it if you're getting such a bad deal?
Who'd want to be a landlord in these days !
I had to leave my flat last year and move home because the price of rent went up so harshly. The price of rent and bills Vs monthly pay is absolutely ridiculous now
I have thankfully never had to go to court to evict but imagine having to wait 2yrs with a tenant not paying rent to get an eviction proceeding.. Any landlord including myself if they went through that hell would just sell up.. It needs to be fair on both sides, before removing S21 make sure the courts can deal with the extra workload so landlords can when they rightfully are due can get a quick hearing to evict bad and non paying tenants.
So landlords who are just taking out mortgage after mortgage are moving out of the market , what a shame ...haha
I sold my rental because of my council's licensing policy. What they have done is split the communities into zones and said only private rentals within their boundaries will be licensed. So the ones who are not as not even getting touched and some of these do not even look after their properties. One where I live is in a mess and has rats running about the front of the property as the tenants have that much junk and household waste in the front. Side and back of the property. The tenant has 5 kids and one of the fathers to two of the children is having to go to court for full custody of his children. The social, council do not care. Other landlords are selling up as well in my county because of the council and government now. 22 houses off the rental market so far this year.
Does anyone think that "the creation of a firesale" is the point of all this? Labours doing this announcement simply to put properties on the market?
Let's get Blackrock types coming in on the bid side.
No one is the winner here. Except the banks, the banks always win.
Rent is far to high as it is ,I'm paying 850 for a bedsit before bills after bills 1200 I earn 1500 a month so 300 left to feed my self and to get to and back from work, I haven't been able to buy any clothes or go out sosolising for the last 2 years, talking to other people in my situation the 2 options are get fired from work and go on benefits or get a caravan and live on the side of the road
Typically 'social housing' is exempt from the raft of legislation.
This is the governments announcement to discourage buy to let.
Let the grabby pocket
Rocket strokers populate ofc and force all private rental properties onto the council housing list
Labour, statement , we will build 300 thousand homes a yr, they may well, but they will not be for sale, you will rent for life, pay to corporates, and small landlords
get screwed with taxes. These Build To Rent are popping up all over London. Will these new rules also apply to large private corporations. If not, there will be uproar.
One of Many!
Canary Wharf Group receive £535m loan for Wood Wharf BTR has secured a loan from Cain International and Starwood Capital Group for a new Build to Rent development.
If only they could get rid of old people who own and stop the families passing on the property. Stay tuned.
They cannot build 150,000 homes in a year so 300,000 is another Labour pipe dream. I doubt if they will build even 150,000 a year, Labour told Wimpey Homes to build at least 50% affordable homes, Wimpey stopped building and locally, building sites seem to be slow walking developments. Don’t know if that is a national observation but certainly local to me.
It wouldn’t affect Landlords as much if landlords had bigger deposits and smaller mortgages, they’d have more money in their pockets in the long term and wouldn’t be in as much of a problem when tenants don’t pay or interest rates go up…
This has already happened to my 26 year old granddaughter, landlord what’s to sell up, so she has had to find another rental at even higher rates.
No problem having this in Scotland if you want to evict someone you have to have a reason worked here for ever
Am sorry no bank should be lending money too those that carnt pay, of your a landlord and relying on rent too pay that mortgage and it goes higher then clearly bank and owner are at fault. You carnt have a system that is relying on that payment from tennat that extremely bad credit checks from banks and not doing financial stress test they should be on any borrowing. Think those landlords that rent too council tennats should only charge council rates.
It's been a disgrace that biggest issue that nobody talks about is the amount of housing benefits 15.6billion , housing benefit and government should of put a cap on rents, and would of stopped so many landlords. Now with so many MPs having rental properties they won't do that.
This country is falling to bits. The justice system is becoming 2 or 3rd world now. Shambles
Non sense reeled up by political play and jealousy. The fact is the house price increase so much that new buyers could not afford. Landlords want good tenants who rent for a long long time, there’s no reason to make them move out if it is absolutely necessary.
Landlords are why people have to rent and pay someone else’s mortgage. It’s a crime. Let them sell. No respect for landlords.
The reason people rent is due to them not being able to get a mortgage. If they sell the tenants will be out on the streets
The government should cover the rent if someone stops paying and can’t be evicted
and... the strangle-hold on the general public continues
Most of the landlords I've met are assholes, so no sympathies here.
Landlords, sell sell sell. You have not got a chance with labour in charge.
nobody is forcing you to be a landlord….
Landlords selling houses will lead to normal buyers having more stock available to buy and possibly at a lower price. As a landlord myself I’m struggling to see how that is a bad thing. Many renters would love the chance to buy a property but are stuck in the rental trap. Of course talk TV and its equivalents are never going to speak about this subject in that vein as they are no friends of the working people. What they don’t realise is the lack of a home ownership class is creating a generation of non home owning anarchists.
This isn't going to allow lots of tennants to buy. Banks and large corporations have been buying up property since at least 2019. Certain banks are deliberately moving into the rental market. The government strategy will not benefit tennants, it benefits big business and is part of Starmer davros/WEF agenda.
There are rogue landlords out there I had the displeasure of one !
Commercial property all the way. Dont deal with domestic lets... It's not passive, and it's aggro.
Rent to buy is needed across the nation. Too many folks paying too much in rent to landlords of all types.
Homes don't need a middleman.
Or we adopt the swiss model where homes are seen as a right and shelter is a basic need of a citizen! I say more council homes, less private rental sector and more home ownership!
In 2 years when the btl mortgage needs rearranging, im getting out.
There's no money in it.
Homes are for living but they weren’t created solely for that purpose. The bank needed something to sell their new product - mortgages. You’ve always been fleas in a box. Harder for the people that have ‘made it’ to accept.
Got out and glad I did.
In my experience landlord charge too much and never maintain the property
I have been issued S21 for no reason, paying rent on time. Making £60k/A. Don't know what to do. Move to Europe or rent another for £2000/m.😢
With interest rates, rent had to go up, simple mathematics.
S21 landlord wants the house back..is this not in s8 that he wants back the house coz used to live there x
Boo hoo
If landlords sell up, it will drive up houses available for sale and lower house prices. First time buyers will be happy most of which are renters. Great stuff 👍🏻👍🏻👍🏻
Anybody with a sensible mind knew this was coming.
More regulation = Less people taking on buy to lets = higher rents due to less rentals overall being available.
A popular view is that those houses/properties that were previously buy to lets will become available for those looking to buy, but what is apparent to me is that not many people can afford the properties already on the market that are being sold... so what happens? The lower price property becomes high demand due to desperation of actually having somewhere to live, vs a house that people really want and this will drive house prices up further.... It's a perfect storm with interest rates coming down too...
The real solution in my view is that the government should start building more council property which will eventually tip things back the other way....
But they won't, because for the most part, MP's own their own home and know exactly what this means for them.
This is overall a bad move that will see a huge swing back for the Conservatives as it is so key for people's quality of life to feel secure in their own homes.
If you don't believe this will happen, you only have to look as far as our cousins out in Canada and see how lack of housing and foreign investment has driven the markets to levels where many will never own a home.
How will this seing back to conservatives? The housing crisis is their fault 😂
@@basicfilmblog New labour was no better. Mass building and conversion of properties for student housing in central Manchester drove up prices. Many would have been bettter off, working, buying their home and delaying uni, or not bothered going in the first place.
Don’t rent or sell to foreigners
My BTL mortgage rate went up 12 times in 10 months
Thinks there is a huge wave of evictions incoming .
Problem with landlords is they expect the government to protect their investments and avoid all risk. That isnt business
No I think landlords expect the government to protect their property rights.
@@veyblu7 as well as their cheap buy to let mortgages
Buy to let should be taxed to the hilt , middle class landlords trying to get rich of the back of the working class . Let some poor b8stard pay for there house then hand it over to one of there kids when they want a pwoperty.