Tenants 'forced into bidding wars' as demand for rented homes soars
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- Опубліковано 9 чер 2022
- Scotland’s rental market is experiencing unprecedented supply and demand issues - making it difficult for prospective tenants to find affordable homes.
Demand for rented homes is two-and-a-half times higher in Scotland than the rest of the UK. Nearly 80 per cent of the country’s one-bedroom flats are let out within the first month; in some cities, half the properties are gone within a week.
If Scotland does continue with the rent cap for the long term and make additional rules for landlords, landlords will exit the market in droves. Then at that point, the situation will become grimmer and people will literally be sleeping in the streets. The root of the problem is not the landlord but the growing population and no public housing. Government needs to build more homes and social housing.
Sure landlords abandoning the market will force them to lower the selling price and thus making it easier for first time home owners to get on the ladder
Try talking logic to humans
@@lewis123417 Sure, but it still won't be low enough for everybody to get on the ladder and as with most things, it will be those on the very bottom who suffer.
@@lewis123417 but interest rates have gone up across the world, so it would be harder than ever even if prices fall.
Canadians and Americans are already at the point of sleeping in the parks in tents due to the lack of affordable rentals.
“Can you categorically deny….” What a loaded question! But other than that this seems a well done documentary, and I’m hearing more and more even from Denver that the UK is hurting. You guys are in my prayers ❤.
I don't want to be a landlord. I take a loan put up 25% deposit at least and when the tenant doesn't want to pay the rent anymore the council say don't move out that's voluntary making yourself homeless so I have to wait a year with no rent before it costs me £10k plus to get you out through the courts. Then I lose my deposit my rent and I end up in debt the tenant just walks away. No thanks. Save my money in the bank no risk thanks.
Making people bid for a home is a selfish, toxic, cruel way to extract as much money as possible from desperate people. Unfortunately people go along with it and landlords and letting agents are rubbing their hands together with glee, shame on them.
Interesting that you should paint landlords as Scrooges. But do you realise how much the interest rates have gone up and how that has jacked up monthly mortgage payments? And how much building materials and labour have gone up? Of course the tenants would prefer the landlord to absorb everything…..but this only happens in la la land
@@hummit Yes I do know these things. The housing situation is toxic and a lot of landlords contribute to this toxicity. If landlords cannot afford to charge reasonable rents and rely on extortion, should they be landlords?
@@elizaann1888 What is a reasonable rent?
Daylight robbery also that bongo music was so ANNOYING!!! Could hardly hear the narrative
The housing problems in Scotland are just part of the larger housing problems repeated right across the rest of the UK.
It's a simple enough concept to understand. The UK is about 5 million homes short yet last year we let the overall population rise by +650,000 but maxed out at 150,000 new homes.
You only have to look at the numbers and common sense says we can't go on like this forever. With all the best will in the world we cannot just keep taking everyone in. It needs to be a manageable amount where infrastructure changes can cope with increased demand instead of the market just being flooded. We currently are looking at a totally broken housing system.
It's not just rented property. There's a huge shortage of all types of housing and it's not like we can just quickly ramp up the numbers we build because we have such a shortage of craftsmen like brick layers, carpenters, plumbers, electricians and gas fitters. Everyone has been to uni these days and works Infront of a laptop and now we are reaping the consequences of that economy. 150,000 new homes a year is the UK capacity wether people like it or not. So demand is only going to increase and that in turn means rents and purchase prices are only going to go one way.
I've been a small developer amd landlord for around 25 years now.
The main issue isn't landlords or banks as they are merely reacting to the changing landscape to cover costs and make a proft.
If there is no profit, there is no housing.
The main issues are caused by the government.
The planning system is a joke. If I want to build 5 or 6 homes it takes me from 18 months to 2 years to get planning permission. On top I have to add on average 8% to the price to be able to pay the council their CIL payment/S106.
We just don't build enough because our planning system is a disaster.
Immigration is off the scale.
Landlords being driven from the market.
Dont let yourselves be distracted from the real culprits because 15 years ago there was an abundance of property to rent at low prices with many more landlords.
I am from immigrant stock and wholeheartedly agree that immigration is a key issue on this matter, we need an economically left but socially conservative party, unfortunately this political vacuum is bleeding Britain dry
No honey, the issue is indeed landlords being essentially scalpers and parasites.
@@beasttitanofficial3768 Less than 19% of the entire housing market is rental stock. And this figure is dropping all the time.
What that means is the long term net volume of rental homes has not only not had a net increase in decades, it has actually fallen.
Which is why you are seeing much higher rents because there is now more demand than properties available to rent.
So you see honey, it isn't the landlords creating this mess, it's the fact they are leaving the market in droves, while the ones that stay have to charge more than ever to cover every growing expenses caused by endless legislation.
And who's fault is that?
@@MoniiChanTheUnicorn as someone who socially identifies more with the right, I cannot agree more with this. Nothing wrong with social programs and giving the poorest a fighting chance, but it cannot come at the cost of everyone else's quality of life.
There seems to be a rather profound misunderstanding of the basics of supply and demand among many...
If rent increases x5 times over 20 years but population increases only x1 times, how does supply and demand explain the price difference, a lot more involved then supply and demand
Great video! A lot of important points of discussion covered 💚👌
Private landlords can't be relied on to provide a public service, it's a scapegoat issue. The root issue here is the lack of social housing, rental stock and incentive to build. Those three areas increase supply and bring rents down. Why is this so hard to understand?
Ask yourself why the huge shortage all of a sudden? that is the fundamental question.
Two Answers ...1 Droves of landlords leaving the sector because of the government's never-ending regulations, and tax demands on landlords (powered by vote chasing). 2 The governments continued importing of hundreds of thousands of immigrants every single year (actually over a million last year), guess what? they all want housing somewhere!
I know of many immigrants - families of - who are securing social housing and mid market. I can’t get a rental in my home city but also air bnb exacerbates the pressure just as much
are the banks fair on mortgages
poverty is not a crime
They need to develop more houses, but I know that the land over in Scotland very rocky and I’m wondering how that would work if they tried to clear more of that to build houses over there
Sad days.
oust out the government
Just buy. In Aberdeen big spacious two or three bedroom flats can be had for a little over 100K. Prices have been dropping there for years. If you have a job paying 25K or more it has got to be one of the best places to live in the UK in terms of quality of life and standard of living. Renting is a nightmare for both tenants and landlords. A good friend of mine is a landlord in Aberdeen and he is really struggling now due to the changes in legislation which seem to have ended up being counterproductive.
Not everyone can buy. Reasons includes but not limited to: not enough deposit. Bad credit history for affordable interest rate on loans. Additional costs associated with home ownership such as insurance, rates, maintenance, cheaper the house the more maintenance and repair needed as generalnrule of thumb. Life plans, many various reason why some would only plan to live in a place for 6 months, 1 year, 2 year etc. They are tied up on other investments, term deposits, options, etc not yet matured. Or their current relationship or lifestyle is not yet ready to commit. Buying a house is a big decision and big step, it's not like buying a car or new phone, you can't transfer or add and remove names on the title like it's nothing.
It's only 1500 per month in Greater London
What is??
The young wanted the private landlords to leave so they did
fair housing laws
Absolutely, if you let short sighted people make the decisions then this is what you get
Just like when the tenant doesn't pay
Terrible,..... Terrible
money goes to the good of the world
No one, I said, no one has created more housing by regulation. F the SNP and Scotland
corruption never goes this far
scary
@XY Zodiac How would that work then? Everyday people still have to be able to raise the money to buy it we have done that already it was called The Council Right To Buy and now people are moaning about that. So whats the solution?
Welcome to London
glad i live in a small city and bought a house. renting is stressful. been renting since 2013 and thank god we finally bought something this year….
This is what happens when you screw landlords and they sell up!
history of the world has overthrown bad government before
Exactly, if only the government would produce landlord friendly legislation rather than doing what they can to dissuade landlords to continue
Man this is cheap! My rent is $2.2k/month or £1.7k! Man ima need to move over there. 28 and make around £94k.
Keep shipping in immigrants when there is already a housing shortage😂
Lack of supply? Stop building outwards, start building upwards. Building outwards is bad for the environment, represents wastage of scarce resources, is energy inefficient and segregates people.
Each sqm of land sealed by building material, pavement and tarmac matters. Introduce a sqm per resident green tax for any proposed development with a nationwide residential building max height.
the woman saying landlords can just do what they want is clueless. In England there are 168 regulations that landlords have to comply with. 168. FFS. Breaking any of these can land a LL in hot water, big fines, criminal record etc. it's all just a massive hassle and LLs are voting with their feet. For those who cheered on the persecution of LLs and the erosion of their rights with ever increasing obligations and threats, well be careful what you wish for. Renters are currently reaping the bitter harvest.
Bidding for a property is nothing new in Scotland, most houses for sale are advertised at ‘offer over £x’ Why should the private rental market be any different. I’m a landlord of three properties in Scotland and have never done this but I don’t have an issue with it. I look for the best long term tenant rather than another £50 per month.
It is not true tnat there are rent price controls in Continental Europe. They never work, they diminish the supply of properties to rent. The greatest revange agains rogue landlords would be the government cut most to all planning laws or restrictions for building new homes. Increasing the supply, the price for renting and buying will go down and quality will have to go up to beat new competition in town.
This is completely the Scottish governments fault
Obviously all the comments are from renters....😂
'If your job as a landlord, then you have a duty of care' - YES! and that 'duty of care' cost money. Do you think landlords are immune to inflation? Do you think Landlords are immune to tenants not paying their rent on time? Do you think maintaining a home is free? If tenants think it's all too easy to become a landlord, then why don't you go out and buy a home to call your own?
I’d like a duty of care from tenants. Friend recently took back possession of her rented house after a long protracted case of unpaid rent and legal and bailiff fees. She was left with £28000 repairs . Tenant walked away to rent and wreck another house no doubt. The scenario of landlords bad, tenants good is not helpful. The charity Shelter exemplified this. I have two rentals which will be on the market for sale later this year.
Some properties don't even need to be maintained in a year yet you charge say 400 500 quid a month despite that much work not needing to be done. Don't lie and act like landlording isn't profitable
I think protection for landlords would be good if there was a restriction on how many houses a landlord could own, one company with 300 houses they do not offer any duty of care, but one individual renting out what was previously their first home for a bit of income and laws ensuring they must keep the property to good standards and uphold their part in getting things fixed in a timely manner etc and likewise renters who are problems or cause damage MUST be dealt with by the law and all losses returned to the owner
Exactly! The entitlement mentality is ridiculous!
@@lewis123417 Who is asking you to rent those properties? Who? Do you not sign with a free will with no agreement to correct the problems! Stop crying wolf, it is your own fault that supply has been reduced! Now pay the inflated rent
Greed greed greed thats what it all about people don’t matter cruel attitude towards people
I rent in AMERICA
And in America you get thrown on the street if you get behind on your rent.
@@stephengreen2626 yikes. Every state is different but a tenancy is a contract so in most parts of the country, tenants can not be " thrown out on the street". There is always due process.
Big deal I own my home outright!
@@stephengreen2626 Better to be a landlord there lol
@@stephengreen2626as it should be
Cowboy landlord, or nightmare crappy tenants, the only way to solve the housing problem is simply, tell snp to be landlord friendly. Don’t screw landlord’s into the ground, supply and demand will fix this.
Simple solution is to build more houses, landlords aren't the main concern
A problem with demand is also with the tenant's, the average family before 2000 was 2.4 children, now some families have 5, 6, 7+ kids. How can these families be house in 1/2 bed properties? It's not the council's or private landlord's fault is it?
Get rid of the cow bell music over people talking.
The government let the banks increase mortgage rates means rents need to go up. Blame the banks and their profits. Blame your shortsightedness for not owning your home. Blame tradies charging more. Blame the cost of living. Don't just blame landlords due to jealousy.
😅 Did you even watch this video? I doubt it. So, how many places do you rent out? To suggest this is nothing to do with landlords, and that they're simply a victim of circumstance, is simply ridiculous. But then, to understand this issue you need to have some compassion, empathy, and understanding. All things you apparently don't value, and certainly lack.
Be fair
If hard can you hire a camper van, mobile home, large camping site, caravan
I brought a little house saw 14 first gave them more on first viewing offer and got it.
The agents, landlords know people need homes
Some people know agents ie mates etc.
Unless you have a rich uncle, housing is NOT a human right. It's this kind of entitlement that's the problem.
Just dumb. If education and health are right- having a basic shelter over your head is the prerequisite for those other two rights.
As a landlord, I enjoyed this.
Me too
Everyone has a nose ring 🤮
It's no coincide that a great many mps are landlords profiteering from the poor vulnerable people.
Oh poor landlords!!-getting squeezed by the Scottish government so they don't inhumanely exploit peoples rights for a roof over their head!! My heart goes out to them and their greedy bank balances!!
Bottom-feeder attitude.
The irony that you don't see Cleo is that, unless you abolish private property, the landlords will always pass on the higher costs associated with these policies to tenants. For instance, the politician talks about creating a system which provides tenants with greater security of tenure. Under such a system, landlords expected profits will be lower for a variety of reasons. But this will simply deter landlords from providing private accommodation and they will shift their money to to other asset classes, which will reduce the supply of rented accommodation, leading to higher rents. This is how markets work. So unless you completely abolish the market for rented accommodation, then none of these policies will ever be particularly effective.
Cleo u dont see that this crisis has in part been created by ppl with attitudes like yours.
@@andrewsmith3613well said
Why are use moaning obviously they can’t house everyone when everyone is having MULTIPLE kids fs if use think it’s hard for use to get a house imagine what it will be like for your kids lol
Birth rates have actually declined. People have less kids now than they did 50 years ago
there's too much immigration, there is only so much room, it isnt like USa or Canada with lots of land. this was going to happen because there isnt enough housing.
the police are arresting the protestors
You're close. It's not even the immigration, it's the fact that it's become virtually illegal to build more housing. Permits, studies, and planning permission means you need to burn a pile of cash and waste months or years before a shovel can even hit the dirt, if the council even lets you.
This naturally results in a massive shortage of new housing, and therefore massive price increases.
How much did the ridiculous piercings cost them?
1 euro
@@xenon6947 Don't use euros in the UK
Irrelevant 🙄
Piercing was done in Germany
@@xenon6947exactly. They can made those ugly holes by needle. 😂
u shud know what they are doing , it's ment t be regulated.
but it's exthaution
Exthaution?
@@niconicholas1464 i think she means extortion, the poor dear.
over throw the bad government
That happens when young people leave their parents house so early.