Less landlords = higher rents and the ability for the landlord to be very fussy about the quality of tenant. Tenants won’t get a 2nd chance if they mess up. Lots of people with a ccj won’t be able to get private housing. I’m guessing that shop doorways will be full of families. In time there will be such a huge problem that the authorities will have to chuck money at it. Grants in the future? I’ve done my time and I’m getting out but if I was younger I’d stick with it and grow business further. Once our countries assets are owned by corporations there is no going back. Only get out if you have enough money to retire otherwise my advice is to stick. I currently own over 300 units and been in the business 37 years . Heading into semi retirement. Time to travel. Good luck guys and girls.
I agree, this still wont stop lots of landlords quitting. Lots of tenants are delighted thinking its good news, in 2-3 years they will see the full impact.
@ I’m still keeping a dozen houses and small industrial estate all on a small farm but selling the portfolio in Reading. Time for me to cash in my Chips. I still think it’s a good business to build wealth
@@Mr1971mccarthy yes light industrial and self storage rental space have no politics and a simple legal regime under the '54 Act. Something to stick with.
Very true, I’m not selling up but I’m not buying anymore, they have made it to hard,, none of my tenants could get a mortgage , that’s why they rent, so there’s one in the poke for the,,,,,,,,well that will mean cheaper houses so first time buyers can buy ,, Not true,
You. Can argue with the mould idea, it is oftern a consequence of poor venitlation, houses here will get mould when all the windows are kept shut all the time and no ventilation is used
the mass replacement of leaky metal and wooden framed windows with draft free modern plastic frames has the down side of keeping in a lot more moisture, plus heat obvs. There is always a downside.
A potential nightmare scenario for landlords awaits, everyone of these new clauses has loopholes that could be exploited by unscrupulous tenants. No other business could operate under these conditions - it's not surprising landlords are leaving in droves - those that have worked out the true implications of these new rules are running for the hills! Look at other countries (like Canada) that have adopted similar rules - landlords have completely lost control of their properties, sometimes waiting years with no rent just to get to court to get an eviction! This will make being a landlord a very high risk proposition!
I wonder how landlords/landlady's are meant to deal with tenants who don't open windows in the property, a good friend of mine is a housing officer with one of the large housing associations here and he goes out to properties to look at complaints. 9 times out of 10 the issue is down to the tenant not doing the correct thing to alleviate the problem, as far as rent increases go can we not use the same measure as phone and broadband companies as that seems to be acceptable. A tenants database is definitely needed, that will make the abolishment of section 21 not so much of an issue for most.
We have this already for three years in Scotland , 3% rent rise ONLY! Once a year , tenants have all the rights you cannot get them out even if they dont pay rent ( can take up to 2 years) with no recourse,,,, one tenant said he didnt need to pay rent, he worked for the bank and said he was saving up for a deposit , and then he moved out one day before the court case, no forwarding address and emptied the whole fully funished flat including all furniture , pots pans , even door mat! Land lord had no re-course. What is fair about that!
I had mould occur in my rental. Tried to get mould specialist out but they were quoting me 2months to come out. Got it sorted I think now but house has been empty for months while I got it dealt with.
@@zerosumequation Shouldn't be a problem. If it doesn't appear to be working out, issue eviction notice, wait several months for a court to approve it, tenants leave, sell the house! Just takes a little longer to get the property back.
Last month ours went up by £200 a month, that’s why we are trying to buy a house. I just hope it all hurries through so we can get out of here. We have been loyal for 6 years and yes the rent went up a couple of times £40 the another £50 over the years but this £200 increase is too much. We take care of the place decorated all the rooms and do the plumbing and maintenance except for the gas. Always pay on time and never ask for anything.
You can tell who the slumlords are by the comments in this section. I’m amazed that these people really think that it matters that they are selling up. These laws just bring the UK in line with the rest of the western world.
Yes, the main one is abolishing Section 21. There must be something in place to deal efficiently with rent arrears. 8 to 12 months is unacceptable. There is Rent Guarantee Insurance which also covers damage and Court costs. Pets can do a lot of damage so that's another issue. Would it be difficult to prove pet damage compared to wear and tear? Being able to give 2 months notice straight away after Landlord has paid all the upfront costs will worry some. Important to choose the right person/family but with all the checks could still come unstuck.
The only viable solution to the UK housing crisis is to urgently identify underutilized ''grey belt'' areas and incentivize investments to construct more homes. In our view, any other approach is merely a diversion.
I recently heard of someone who was Buying a Property, Lost the Property. Because the owner could not get the tenants to leave… The tenants may have been given sufficient notice.. How can this happen in 2024, 😮. ?
notice period under the S.21 equivalent in Wales is 6 months now. Its now the same notice period as for business premises lease end and renewals under the '54 Act and has been since 1954. It works pretty well in that sector.
My main thing at the minute is the epc requirements. My only property is a D grade, and to get it to a C would be £9500 and frankly, i don't want to spend it! So my choice will be to move in myself as currently i have accommodation through work. The only thing is if the tenant with the new rules won't move, what happens then? It's not fit to rent, but they won't move out, and you can not force them?
Check other houses in the area with EPC's of C, Im finding houses with solid brick, 100mm loft insulation rated at a C go on the market, search EPC checker and you will find the inspector and give them a ring to get re evaluated, I struggle to see how they come up with this figure but from past I would of rated these houses at an E.
Landlords aren’t that bothered by fixed tenancies, the agents are, it their main income source. Most self managing landlords go onto periodic. Some tenants will find themselves with certain longer term tenancies if previously they preferred fixed.
The problem is a tenant can leave after 2 months, currently its 6 months. So some could just take it as a short term rental but at long term rental costs.
really? can you elaborate as most landlords I know want a minimum 6 month AST in order they can recoup set up costs. Once the 6 months is up periodic is fine. Who are these landlords you're talking to ?
@@dm7325 agreed. After the initial minimum fixed term landlord go periodic . Yearly renewal if fixed term is driven my agency business models, not landlords.
@@propertyaccelerator and some will leave after 2 months because of property condition. Some will be short term lets pretending to be long term, so when you advertise your rental at that higher rent expecting it to be lower, don’t be surprised it’s jumped on by a short term let at the rental cap. So either accept you going to be an accidental holiday let at much higher rent now and again or become unfurnished including maybe carpets especially if your accepting pets. Not sure how long term renters will compete against short term wanting to save service accommodation costs.
Basically your loosing your property if you can't serve section 21, it's like someone hiring a car and saying oh I think I'll keep it now, I'll just keep paying the rent. It's madness, it'll seriously restrict the supply of rented properties, won't really help anyone.
The problem is a lot of these acts are written without the consideration of all parties, yes there’s a lot of good in it; but what about nightmare tenants? It’s frustrating how one sided governments can be
That lad died because traces of the cleaning agent were left behind and affected him, not the mould that was there to start with. So sad. And it was the public sector's poor housing management not the private sector that was responsible.
So the fact is if there wasn’t any mould they wouldn’t have used the cleaning agent, so sad we have people making excuses next you’ll be telling me the private sector doesn’t have slum landlords 🎉
@@dewistaplesjones6338 Yeh there are bad properties in the private rented sector, but this particular case was a housing association. The causes of mould can be property or tenant related. Sometimes it's that the walls are cold, there is penetrating damp etc. But quite often it's drying clothes in houses and not opening windows, or not adequately heating a property. My houses are HMO's and I pay for the heating, they're also reasonably well insulated bearing in mind that they're Victorian properties and this isn't easy to do. But I have to remind tenants about not drying clothes in their bedrooms, and opening windows when they cook and shower. So many people are clueless of the basics of living in a property. I had 1 guy over the weekend (at 7.24 am) tell me that his room is infested with rats! I was like no, they're mice and why are you storing food in your ground floor room? I've provided traps to sort the issue and advice on storing food, but you would think that would be common sense.
@@dewistaplesjones6338 the public sector management should have cleaned the mould off the Council house and the cleaning agent, but the reports I have seen say the latter was not done. The incident does not concern private sector landlords. I was not saying that all public sector landlords were slum landlords of course.
If a landlord does want a property back and or needs to remove a tenant, what kind of notice will they have to give if the tenant can give just 2 months?
I’m not buying any more houses because of the stamp duty, rip off, they are taking the piss out of landlords, I only have 3 bed houses and I have plenty now, I have a waiting list and 37 applied for my last house, there is going to be a house shortage very soon these new rules are pushing landlords out, and rents are sky rocketing all these rules just make things harder for tenants all the local landlords chat to each other so w3 know all the good tenants and yes all the dodgy ones, if your dodgy your going to hav3 problems finding somewhere to live it’s going to get harder each day,
@@prakashlimbu5738 I always have rent guarantee insurance in place through the letting agency. The company they use is also used for the referencing and background checks. It pays from the first month of arrears and covers court costs and damage. Cover limit of £50,000.
It looks like the Labour party again is forgetting who owns the property and who's taking massive risks with it. I had very long-term renters. I hadn't put the rent up for nearly 10 years. I put the rent up as the current rent at that time just wasn't sustainable, and made sure that it was still less than the current market value but my renters started moaning as I got used to those really low rents. One of them refused the new rent so I gave him his notice. He went to look for the price he had been paying for the last 10 years, saw that he was still getting a good deal from me and came running back saying he wanted to pay the new rent and stay. I let him stay because he did pay on time every time. And the latter is the reason I didn't put the rent up. They were really good hassle free tenants so I rewarded them by keeping the rents low. I think that's fair, though most landlords would think I'm stupid.
Always ease the rent up annually by RPI but I would keep it around 90 to 95% of market level. You never know when rent controls will come in and its good to be near the top of the market at least to start with. Nobody will thank you for the discount above that as you saw your tenants just started whinging when the holiday ended.
@@brianlopez8855 You are correct. The other reason I didn't put the rent up for so long is because they were not high earners and I didn't want to raid their income. In hindsight they didn't really appreciate it. They should have just turned around and said, we've been expecting this for a long time.
You sound like a great landlord if I was looking to rent, I’d choose landlords like you, so a database would be great for that. After watching documentaries on the royals, maybe they should be worried?
I follow the same process of a full refurbishment at the being of tenancies but we dont all keep the property we live in, in a decent standard. No judgement we all happily live in different conditions. This is true for home owners and tenants but home owners either continue to live like that or have to pay for a refurbishment. How will the decent home standards work if a tenant has been in a property for many years and the property is a tip. Will they be able to request a refurb back to a decent standard? I also worry about all the possible fines, they are huge and appear disproportionate, I dont like the idea of possibly being sued or paying fines especially when the profits are low.
Its a bit like the law around long leasehold extensions. Residential landlord and tenant used to be able to agree a compromise extension on the new period and new lease rent under it. Not any More. No-one is allowed to do their own deal for an extension. You MUST be given a full 900 years on top at a peppercorn AND PAY full whack for it. In other words ALL must drive the new Tesla: No-one is allowed to buy a 10 year old GM Cavalier any more. You either buy the A1 solution or you must remain in your short leasehold flat and get chucked out at the end. That's progress.
HMG will seek to take control of the property impose the improvements and stick a massive charge on title to pay them back from your rents. They already have the powers under the EDMO provisions but they are rarely used to date. Empty Dwelling Management Order.
Has to be after 12 months (less a day under) a S.13 Notice so an 11 months intervening period under the Act might be invalid. Check the dates when you get the notice.
Here in lies the problem we are hoping x y or z might happen re S21, hope is not a strategy. Landlords are being forced to take part in a social experiment where all the power is handed to the consumer, no business could work is those circumstances. Tenant can give two months notice on day one landlords have to give 12 months unfair or what. New tenant is having a house built do they rent an Airbnb and pay a fortune to put their stuff in storage or do they rent your house "honest Nice Landlord I'm here for a year " then leave after two months when house complete. Wake up this is a real problem coming down the line for landlords
@YachtEventHorizon Govts both the Tory and now Labour one are ideologically opposed to small LL They seem to be OK with large corporates It is the little LL they wish to eradicate.
I only have one small flat that I rent out. It was OK when interest rates were low but over recent years it has made less money than I could get in a bond and I would have no hassle with that! 2 months notice and tenants on benefits are the killers for me so I will be selling it as soon as I can. It's near the bottom end of the local rental market where there are very few properties available and now there will be one less thanks to the government's unfair legislation
Proper landlords have no problems with bill - it’s the amateur landlords usually with one property that do all the winging! These landlords are clueless and with just one property they’re not really a landlord just a bloke (or gal) with a house. Tip to tenants ‘avoid those that have just one property’ they’re full of their own self importance - find proper landlords that have multiple properties!
That kid died in council property u wait 3 months for repairs from councils landlords can fix a plumer in a few days.we are being pushed out of letting for their criminal friends running housing associations.criminals .
SHELTER... Isn't that the charity with overpaid management that's spent millions on campaigns in Government, but hasn't actually done anything to provide homeless people with an actual home? 🤔
It appears that Shelters main aim is to increase homelessness. They were leading the cause to have minimum room sizes - reducing much needed HMO stock and now pushing the government on this new bill which will decrease rental stock and push up rents. Oh wait a minute, more homelessness and they get more more money to ignore the poor people who now have no homes. Ask any homeless people how have Shelter helped them and 10 out of 10 will tell you the truth about this charity.
Yeh that's not correct, it's all too easy for a tenant to play the system. Break something themselves, refuse to give access and then stop paying the rent because they believe the property doesn't meet the housing standards. Paying rent is literally becoming optional from this point forward, it doesn't matter if you're a decent landlord or not.
I see it as an advantage as its stops the poor landlords who are your competition. Rents will increase, however for tenants I see this as very bad news. Also tenants see this as great news, give it 3 years they will see.
@ I find it odd that government past and present seem to target landlords who provide social housing. Less private landlords mean more families in hotels.
@MD-ud2le Private LL do NOT provide Social Housing. There are some who operate supported Housing but charge market rents No sane LL charges Social rents unless an idiot. Increasingly LL are refusing to let to DSS tenants It is irrelevant if Govt says LL can't do this. Well they can. They just can't state No DSS They have to go through the charade of accepting applications from all.. This is cruel as it gives false hope to DSS tenants. They are still going to be rejected as no DSS tenant can ever pass RGI referencing. So LL just have to waste time rejecting DSS tenants. It was so much easier before No DSS No pets Saved so much time! Fewer LL doesn't necessarily mean more homeless in TA etc. That is only the case if Councils have a duty to house. If you are a single male of white then no Council will assist you
All I ever see is new housing estates going up everywhere!!! It’s not even possible that we need all these houses!!! They are so expensive who the hell are buying these crap things?
I understand there will be a mechanism through a court in which the tenants can be forced to leave if the landlord wants to move back into their property or to sell it.
If you have a BTL mortgage you can't move into the rental property. Doing so would be mortgage fraud. A lender might permit an owner to occupy if part of a selling process or the mortgage is being changed to residential.
Shelter have spent £84 million on lobbying government and have made the housing crisis much worse. Also I just rented out a flat ,one candidate had a CCJ and another didn't want to provide a guarantor so it went to someone who provided this and good credit score. What's going to happen to the people with bad credit? The councils will need to rent more flats of the PRS and less landlords means higher rents. I'm sticking with it, hopefully Labour might be out in 5 years🤞
Yeh Shelter are completely anti landlord, just another looney left organisation who think housing should be free of charge and landlords should have no rights. Shelter from what I can see don't actually provide any homes for people, that said they should probably re-brand themselves.
Don’t you think that landlords will be profiteering until this bill becomes law, what’s all this if it goes one way it should go the other 😂 surely you only need to read your own list from the impending bill to see it’s only been going one way for years 🎉
new rents under S.13 can be challenged already at the Ft Tribunal on application. Its been the law for many years but its poorly publicised. All new rents will be covered under the Bill though instead.
Hey, can you do a video on the right to buy on council property, as from 21th November this is will be abolished, similar to Scotland Wales have done. Thanks again for your content.
I don't think it will be abolished in Nov '24, I understand what will be happening is that the discounts available will be going back down to the 2012 levels (which I understand were lower). The idea thereafter is that a restriction on Councils not to release more RTBs than they can replace is expected. However, in the wven longer term they could very well consider abolishing (who knows) but I can't see this particular outcome myself within the next 5 years at least.
My landlord refuses me to fit an electric shower now that I have two children. Even if I pay for it. We can’t afford anything near by our home is here, if I fit it can he kick me out?
@TazBo-wd2ig It isn't that easy to do I was thinking of going the same thing but the electrical work involved wouldn't be cost effective So the hot cylinder tank remained You could ask the LL to get a few quotes then discuss with LL
If there wasn't previously an electric shower then it will be a big job, a thick 10mm cable needs to be run from the shower location to your consumer unit ( fuse box ) could be floor boards up and all sorts to get it in that's why your landlord is avoiding it, also a electric shower is expensive to run around £2 per hour depending on your tariff, if you have a combi boiler better off with a mixer tap
Thank you for the video!! All we need is the right advice on how to invest in crypto and we will be set for life, I made over a million dollars from trading this year regardless of the market conditions😊
Wrong! The less rental stock, the more properties to sell first time buyers. It's a good thing not bad thing. But I see how landlords could try to justify it as wrong.
@gabymotsoloc9295 Wrong the more properties available doesn't mean more available for FTB. There are already plenty of properties to buy. It is unaffordable ones that prevent FTB from buying That is why they are tenants. There is zero chance of property prices reducing even as LL sell off. So tenants who can't afford to buy will be homeless. Nobody cares about tenants
You’re assuming everyone wants to buy a house and is earning comfortably, which is not the case. Also not everyone is going afford a deposit still or even get a mortgage given what’s happening in that part of the industry. Government are also looking at more restrictions on right to buy council houses. Renting population remains pretty high.
@@brianlopez8855 Yes - "first time buyers will struggle to get mortgages with the rise in zero hours contracts" but it will be a whole lot easier if PESKY landlords just Fed OFFed from buying dozens of houses.
@@paulgbar666 Britain has a housing crisis the size of a GALAXY and you say "There are already plenty of properties to buy." You must have forgotten your medication.
Less landlords = higher rents and the ability for the landlord to be very fussy about the quality of tenant.
Tenants won’t get a 2nd chance if they mess up.
Lots of people with a ccj won’t be able to get private housing.
I’m guessing that shop doorways will be full of families.
In time there will be such a huge problem that the authorities will have to chuck money at it. Grants in the future?
I’ve done my time and I’m getting out but if I was younger I’d stick with it and grow business further.
Once our countries assets are owned by corporations there is no going back. Only get out if you have enough money to retire otherwise my advice is to stick.
I currently own over 300 units and been in the business 37 years . Heading into semi retirement. Time to travel.
Good luck guys and girls.
I agree, this still wont stop lots of landlords quitting. Lots of tenants are delighted thinking its good news, in 2-3 years they will see the full impact.
@ I’m still keeping a dozen houses and small industrial estate all on a small farm but selling the portfolio in Reading. Time for me to cash in my Chips.
I still think it’s a good business to build wealth
My renters must show they have £15000 in savings because of this bill. Nornqlly 3-4 sharers so £45,000.
@@Mr1971mccarthy yes light industrial and self storage rental space have no politics and a simple legal regime under the '54 Act. Something to stick with.
Very true, I’m not selling up but I’m not buying anymore, they have made it to hard,, none of my tenants could get a mortgage , that’s why they rent, so there’s one in the poke for the,,,,,,,,well that will mean cheaper houses so first time buyers can buy ,, Not true,
You. Can argue with the mould idea, it is oftern a consequence of poor venitlation, houses here will get mould when all the windows are kept shut all the time and no ventilation is used
Absolutely, mould is to do with how they living in that house. Tomorrow they will say oh you have to clean toilets coz u r landlord 🤦🤦🤦
I've had empty properties, no mould, tenant moves in, mould,
Very true
the mass replacement of leaky metal and wooden framed windows with draft free modern plastic frames has the down side of keeping in a lot more moisture, plus heat obvs. There is always a downside.
@brianlopez8855 yes that's true, air tight homes aren't always great.
A potential nightmare scenario for landlords awaits, everyone of these new clauses has loopholes that could be exploited by unscrupulous tenants. No other business could operate under these conditions - it's not surprising landlords are leaving in droves - those that have worked out the true implications of these new rules are running for the hills! Look at other countries (like Canada) that have adopted similar rules - landlords have completely lost control of their properties, sometimes waiting years with no rent just to get to court to get an eviction! This will make being a landlord a very high risk proposition!
Very true
I wonder how landlords/landlady's are meant to deal with tenants who don't open windows in the property, a good friend of mine is a housing officer with one of the large housing associations here and he goes out to properties to look at complaints. 9 times out of 10 the issue is down to the tenant not doing the correct thing to alleviate the problem, as far as rent increases go can we not use the same measure as phone and broadband companies as that seems to be acceptable. A tenants database is definitely needed, that will make the abolishment of section 21 not so much of an issue for most.
It will be housing officers that decide who is liable for mould etc.
We have this already for three years in Scotland , 3% rent rise ONLY! Once a year , tenants have all the rights you cannot get them out even if they dont pay rent ( can take up to 2 years) with no recourse,,,,
one tenant said he didnt need to pay rent, he worked for the bank and said he was saving up for a deposit , and then he moved out one day before the court case, no forwarding address and emptied the whole fully funished flat including all furniture , pots pans , even door mat! Land lord had no re-course. What is fair about that!
Wow thats brutal.
I had mould occur in my rental. Tried to get mould specialist out but they were quoting me 2months to come out. Got it sorted I think now but house has been empty for months while I got it dealt with.
So glad I don't have to worry about any of this . . just thinking about where to go on my next holiday
@@zerosumequation Shouldn't be a problem. If it doesn't appear to be working out, issue eviction notice, wait several months for a court to approve it, tenants leave, sell the house! Just takes a little longer to get the property back.
Where you going? Asia is good in Winter.
Last month ours went up by £200 a month, that’s why we are trying to buy a house.
I just hope it all hurries through so we can get out of here.
We have been loyal for 6 years and yes the rent went up a couple of times £40 the another £50 over the years but this £200 increase is too much.
We take care of the place decorated all the rooms and do the plumbing and maintenance except for the gas.
Always pay on time and never ask for anything.
apply to the first tier tribunal property chamber to challenge the new rent.
👍
Whats new here?? Just another upload of previous videos!!
Not much new, lots of people did not see the first video. Hence we already have over 1000 views on this tonight.
You can tell who the slumlords are by the comments in this section. I’m amazed that these people really think that it matters that they are selling up. These laws just bring the UK in line with the rest of the western world.
👍
Yes, the main one is abolishing Section 21. There must be something in place to deal efficiently with rent arrears. 8 to 12 months is unacceptable.
There is Rent Guarantee Insurance which also covers damage and Court costs.
Pets can do a lot of damage so that's another issue. Would it be difficult to prove pet damage compared to wear and tear?
Being able to give 2 months notice straight away after Landlord has paid all the upfront costs will worry some.
Important to choose the right person/family but with all the checks could still come unstuck.
Pet damage should be easy to prove if you get estate agent to do inventory on check in.
My experience of check in ms check out reports is useless, you as a landlord just get screwed over every time.
@@Now-or-Never_Adventures That's what I was thinking.
@@Now-or-Never_Adventures😂😂😂😂😂😂😂😂😂😂
To reduce energy costs tentants won't open windows and won't put the heating on, this results in mould. How can the landlord control this?
True
Mould? People come from hot climates and don't understand OUR climate. Open the windows regularly for crying out loud !
True
The only viable solution to the UK housing crisis is to urgently identify underutilized ''grey belt'' areas and incentivize investments to construct more homes. In our view, any other approach is merely a diversion.
True
HMG does not like substandard new housing.
I recently heard of someone who was Buying a Property, Lost the Property. Because the owner could not get the tenants to leave…
The tenants may have been given sufficient notice..
How can this happen in 2024, 😮. ?
What happens if I want my property back either to sell or to move back in, can the eviction of tenant be lawful then?
Yes you can give 2 months notice.
notice period under the S.21 equivalent in Wales is 6 months now. Its now the same notice period as for business premises lease end and renewals under the '54 Act and has been since 1954. It works pretty well in that sector.
My main thing at the minute is the epc requirements. My only property is a D grade, and to get it to a C would be £9500 and frankly, i don't want to spend it! So my choice will be to move in myself as currently i have accommodation through work. The only thing is if the tenant with the new rules won't move, what happens then? It's not fit to rent, but they won't move out, and you can not force them?
That is what we are waiting for them to clarify.
Check other houses in the area with EPC's of C, Im finding houses with solid brick, 100mm loft insulation rated at a C go on the market, search EPC checker and you will find the inspector and give them a ring to get re evaluated, I struggle to see how they come up with this figure but from past I would of rated these houses at an E.
@@propertyaccelerator they will change the rules on how epc’s are graded. Don’t worry. They would loose to much accommodation if they don’t
I reckon HMG will offer funding for the work with a charge on title and repossess it you dont pay the interest.
@@sresto7943 such epc assessors are worth their weight in gold obvs
Landlords aren’t that bothered by fixed tenancies, the agents are, it their main income source. Most self managing landlords go onto periodic. Some tenants will find themselves with certain longer term tenancies if previously they preferred fixed.
The problem is a tenant can leave after 2 months, currently its 6 months. So some could just take it as a short term rental but at long term rental costs.
really? can you elaborate as most landlords I know want a minimum 6 month AST in order they can recoup set up costs. Once the 6 months is up periodic is fine. Who are these landlords you're talking to ?
@@dm7325 agreed. After the initial minimum fixed term landlord go periodic . Yearly renewal if fixed term is driven my agency business models, not landlords.
@@propertyaccelerator and some will leave after 2 months because of property condition. Some will be short term lets pretending to be long term, so when you advertise your rental at that higher rent expecting it to be lower, don’t be surprised it’s jumped on by a short term let at the rental cap. So either accept you going to be an accidental holiday let at much higher rent now and again or become unfurnished including maybe carpets especially if your accepting pets. Not sure how long term renters will compete against short term wanting to save service accommodation costs.
Mate , I'm gonna stop watching you soon it's all doom and gloom . Bring us landlords some good news please ?
He can’t bring you good news if there isn’t any….. do you want him to make things up so you carry on watching
Good new is you still got your property / property's 😅
Basically your loosing your property if you can't serve section 21, it's like someone hiring a car and saying oh I think I'll keep it now, I'll just keep paying the rent. It's madness, it'll seriously restrict the supply of rented properties, won't really help anyone.
The problem is a lot of these acts are written without the consideration of all parties, yes there’s a lot of good in it; but what about nightmare tenants? It’s frustrating how one sided governments can be
@Adam-zz1ti I had some Albanian drug dealers in one of mine, property wrecked, immigration, police, electric board dug drive up to cut electric up.
That lad died because traces of the cleaning agent were left behind and affected him, not the mould that was there to start with. So sad. And it was the public sector's poor housing management not the private sector that was responsible.
So the fact is if there wasn’t any mould they wouldn’t have used the cleaning agent, so sad we have people making excuses next you’ll be telling me the private sector doesn’t have slum landlords 🎉
@@dewistaplesjones6338 Yeh there are bad properties in the private rented sector, but this particular case was a housing association. The causes of mould can be property or tenant related. Sometimes it's that the walls are cold, there is penetrating damp etc. But quite often it's drying clothes in houses and not opening windows, or not adequately heating a property. My houses are HMO's and I pay for the heating, they're also reasonably well insulated bearing in mind that they're Victorian properties and this isn't easy to do. But I have to remind tenants about not drying clothes in their bedrooms, and opening windows when they cook and shower. So many people are clueless of the basics of living in a property.
I had 1 guy over the weekend (at 7.24 am) tell me that his room is infested with rats! I was like no, they're mice and why are you storing food in your ground floor room? I've provided traps to sort the issue and advice on storing food, but you would think that would be common sense.
Ah I will do some more research on this case Ive not honestly read much.
@@dewistaplesjones6338 the public sector management should have cleaned the mould off the Council house and the cleaning agent, but the reports I have seen say the latter was not done. The incident does not concern private sector landlords. I was not saying that all public sector landlords were slum landlords of course.
The most worrying here are rent arrears and section 21.
Thats what worries most landlords.
Section 21 doesn’t guarantee the tenant will move out.
It normally works.
Not always and if the rent is going up they will stay put until they have to leave.
True, if they really dont want to they wont.
If a landlord does want a property back and or needs to remove a tenant, what kind of notice will they have to give if the tenant can give just 2 months?
2 months yes.
6 months in Wales, we still have the S.21, for now.
I had 240 applicants in the first 24 hours for a flat on gumtree for rent in edinburgh
Wow thats insane, thanks for sharing that its really useful and hard info for me to get. Ill probably 😀mention that in a few videos.
I’m not buying any more houses because of the stamp duty, rip off, they are taking the piss out of landlords, I only have 3 bed houses and I have plenty now, I have a waiting list and 37 applied for my last house, there is going to be a house shortage very soon these new rules are pushing landlords out, and rents are sky rocketing all these rules just make things harder for tenants all the local landlords chat to each other so w3 know all the good tenants and yes all the dodgy ones, if your dodgy your going to hav3 problems finding somewhere to live it’s going to get harder each day,
Exactly.
Would the rent arrears been covered by the RGI in most cases if insurance in place?
@@prakashlimbu5738 I always have rent guarantee insurance in place through the letting agency. The company they use is also used for the referencing and background checks. It pays from the first month of arrears and covers court costs and damage. Cover limit of £50,000.
It should be yes.
Best to issue the claim at CC its easy online but do they have a job for an Attachment or any assets for a Charge ?
It looks like the Labour party again is forgetting who owns the property and who's taking massive risks with it.
I had very long-term renters. I hadn't put the rent up for nearly 10 years. I put the rent up as the current rent at that time just wasn't sustainable, and made sure that it was still less than the current market value but my renters started moaning as I got used to those really low rents. One of them refused the new rent so I gave him his notice. He went to look for the price he had been paying for the last 10 years, saw that he was still getting a good deal from me and came running back saying he wanted to pay the new rent and stay. I let him stay because he did pay on time every time.
And the latter is the reason I didn't put the rent up. They were really good hassle free tenants so I rewarded them by keeping the rents low. I think that's fair, though most landlords would think I'm stupid.
Very true
Err, who CURRENTLY owns the property. Never heard of the Russian Revolution Comrade ?
Always ease the rent up annually by RPI but I would keep it around 90 to 95% of market level. You never know when rent controls will come in and its good to be near the top of the market at least to start with. Nobody will thank you for the discount above that as you saw your tenants just started whinging when the holiday ended.
@@brianlopez8855 You are correct. The other reason I didn't put the rent up for so long is because they were not high earners and I didn't want to raid their income. In hindsight they didn't really appreciate it.
They should have just turned around and said, we've been expecting this for a long time.
You sound like a great landlord if I was looking to rent, I’d choose landlords like you, so a database would be great for that. After watching documentaries on the royals, maybe they should be worried?
True
I follow the same process of a full refurbishment at the being of tenancies but we dont all keep the property we live in, in a decent standard. No judgement we all happily live in different conditions. This is true for home owners and tenants but home owners either continue to live like that or have to pay for a refurbishment. How will the decent home standards work if a tenant has been in a property for many years and the property is a tip. Will they be able to request a refurb back to a decent standard? I also worry about all the possible fines, they are huge and appear disproportionate, I dont like the idea of possibly being sued or paying fines especially when the profits are low.
As the bill moves forward they will clarify more points.
Its a bit like the law around long leasehold extensions. Residential landlord and tenant used to be able to agree a compromise extension on the new period and new lease rent under it. Not any More. No-one is allowed to do their own deal for an extension. You MUST be given a full 900 years on top at a peppercorn AND PAY full whack for it. In other words ALL must drive the new Tesla: No-one is allowed to buy a 10 year old GM Cavalier any more. You either buy the A1 solution or you must remain in your short leasehold flat and get chucked out at the end. That's progress.
HMG will seek to take control of the property impose the improvements and stick a massive charge on title to pay them back from your rents. They already have the powers under the EDMO provisions but they are rarely used to date. Empty Dwelling Management Order.
I Had a 22% increase last March.. and my tenancy is due for renewal again end of February,. Will my rent be increase again?
Wow thats brutal sorry to hear that.
Has to be after 12 months (less a day under) a S.13 Notice so an 11 months intervening period under the Act might be invalid. Check the dates when you get the notice.
Here in lies the problem we are hoping x y or z might happen re S21, hope is not a strategy. Landlords are being forced to take part in a social experiment where all the power is handed to the consumer, no business could work is those circumstances. Tenant can give two months notice on day one landlords have to give 12 months unfair or what. New tenant is having a house built do they rent an Airbnb and pay a fortune to put their stuff in storage or do they rent your house "honest Nice Landlord I'm here for a year " then leave after two months when house complete. Wake up this is a real problem coming down the line for landlords
Good points.
Not easy to find a property, in some areas can take months to find another property
I had 13 houses in my experience all mode was caused by tenants
Most often is.
Why does the government want to reduce the availability of houses.
The government is stupid. Just look at Starmer's stare. He looks vacant.
@YachtEventHorizon
Govts both the Tory and now Labour one are ideologically opposed to small LL
They seem to be OK with large corporates
It is the little LL they wish to eradicate.
They believe it will improve tenants standards but its doing the opposite.
It thinks its doing the reverse but as we now know there isn't a qualified Economist among them.
@@bobgriffin316 and To Let.
Exactlywhere are all the builders 😏
Most builders I know are flat out busy with work, we simply dont have enough.
My rent went up by £140 and agent wanted extra £100per month our kitten which is an ESA pet
👍
I only have one small flat that I rent out. It was OK when interest rates were low but over recent years it has made less money than I could get in a bond and I would have no hassle with that!
2 months notice and tenants on benefits are the killers for me so I will be selling it as soon as I can. It's near the bottom end of the local rental market where there are very few properties available and now there will be one less thanks to the government's unfair legislation
👍
Proper landlords have no problems with bill - it’s the amateur landlords usually with one property that do all the winging! These landlords are clueless and with just one property they’re not really a landlord just a bloke (or gal) with a house. Tip to tenants ‘avoid those that have just one property’ they’re full of their own self importance - find proper landlords that have multiple properties!
Does this mean rent go up then
If more landlords quit then yes.
That kid died in council property u wait 3 months for repairs from councils landlords can fix a plumer in a few days.we are being pushed out of letting for their criminal friends running housing associations.criminals .
👍
The contractors in that public sector landlord property did not clean up properly.
SHELTER... Isn't that the charity with overpaid management that's spent millions on campaigns in Government, but hasn't actually done anything to provide homeless people with an actual home? 🤔
Yes I read they have spent £81 Million lobbying.
It appears that Shelters main aim is to increase homelessness. They were leading the cause to have minimum room sizes - reducing much needed HMO stock and now pushing the government on this new bill which will decrease rental stock and push up rents. Oh wait a minute, more homelessness and they get more more money to ignore the poor people who now have no homes. Ask any homeless people how have Shelter helped them and 10 out of 10 will tell you the truth about this charity.
Thank
👍
To be honest, any decent landlord wouldn’t be too concerned by this bill.
@MD-ud2le Absolute twaddle.
You clearly know nothing about being a LL
Yeh that's not correct, it's all too easy for a tenant to play the system. Break something themselves, refuse to give access and then stop paying the rent because they believe the property doesn't meet the housing standards. Paying rent is literally becoming optional from this point forward, it doesn't matter if you're a decent landlord or not.
I see it as an advantage as its stops the poor landlords who are your competition. Rents will increase, however for tenants I see this as very bad news. Also tenants see this as great news, give it 3 years they will see.
@ I find it odd that government past and present seem to target landlords who provide social housing. Less private landlords mean more families in hotels.
@MD-ud2le
Private LL do NOT provide Social Housing.
There are some who operate supported Housing but charge market rents
No sane LL charges Social rents unless an idiot.
Increasingly LL are refusing to let to DSS tenants
It is irrelevant if Govt says LL can't do this.
Well they can.
They just can't state
No DSS
They have to go through the charade of accepting applications from all..
This is cruel as it gives false hope to DSS tenants.
They are still going to be rejected as no DSS tenant can ever pass RGI referencing.
So LL just have to waste time rejecting DSS tenants.
It was so much easier before
No DSS
No pets
Saved so much time!
Fewer LL doesn't necessarily mean more homeless in TA etc.
That is only the case if Councils have a duty to house.
If you are a single male of white then no Council will assist you
All I ever see is new housing estates going up everywhere!!! It’s not even possible that we need all these houses!!! They are so expensive who the hell are buying these crap things?
There is building but its not enough we need more and yes the quality is often very poor.
Blackrock and their ilk then they let them out at market rent. Nice little income stream.
So what happens if you want to move back into your property you rent out.
I understand there will be a mechanism through a court in which the tenants can be forced to leave if the landlord wants to move back into their property or to sell it.
Correct but it will be so slow.
You will need to serve notice and it could end up in court.
If you have a BTL mortgage you can't move into the rental property.
Doing so would be mortgage fraud.
A lender might permit an owner to occupy if part of a selling process or the mortgage is being changed to residential.
@@paulgbar666 None of my portfolio is mortgaged. 🙂
Labour will make life difficult for both LL & tenants! Albeit Racheal Reeves is a LL, conflict of interest?
👍
of a Dolls House ?
@@brianlopez8855 ???
Shelter have spent £84 million on lobbying government and have made the housing crisis much worse. Also I just rented out a flat ,one candidate had a CCJ and another didn't want to provide a guarantor so it went to someone who provided this and good credit score. What's going to happen to the people with bad credit? The councils will need to rent more flats of the PRS and less landlords means higher rents. I'm sticking with it, hopefully Labour might be out in 5 years🤞
Yeh Shelter are completely anti landlord, just another looney left organisation who think housing should be free of charge and landlords should have no rights. Shelter from what I can see don't actually provide any homes for people, that said they should probably re-brand themselves.
Shelter is just a grifting agency. Probably all on high salaries like large charities.
Exactly why would you take the risk.
"Welcome to Premier Inn !"
Don’t you think that landlords will be profiteering until this bill becomes law, what’s all this if it goes one way it should go the other 😂 surely you only need to read your own list from the impending bill to see it’s only been going one way for years 🎉
👍
Your new landlords will be Blackrock et al.
new rents under S.13 can be challenged already at the Ft Tribunal on application. Its been the law for many years but its poorly publicised. All new rents will be covered under the Bill though instead.
True
Hey, can you do a video on the right to buy on council property, as from 21th November this is will be abolished, similar to Scotland Wales have done.
Thanks again for your content.
Sure will take a look.
I don't think it will be abolished in Nov '24, I understand what will be happening is that the discounts available will be going back down to the 2012 levels (which I understand were lower). The idea thereafter is that a restriction on Councils not to release more RTBs than they can replace is expected. However, in the wven longer term they could very well consider abolishing (who knows) but I can't see this particular outcome myself within the next 5 years at least.
better serve notice asap then !
You also won't have a channel soon buddy at this rate 😂
Im sure there will always be something to talk about in Property.
@@propertyaccelerator Yes, there are always New Carpets ! Looking forward to your New Year Sale Event ANNOUNCEMENT !
My landlord refuses me to fit an electric shower now that I have two children. Even if I pay for it. We can’t afford anything near by our home is here, if I fit it can he kick me out?
@TazBo-wd2ig It isn't that easy to do
I was thinking of going the same thing but the electrical work involved wouldn't be cost effective
So the hot cylinder tank remained
You could ask the LL to get a few quotes then discuss with LL
@ right now it’s just hooked up to the hot and cold pipes and it’s a nightmare. He refuses even to have a conversation about it.
@@TazBo-wd2ig
Report disrepair to the Council
If there wasn't previously an electric shower then it will be a big job, a thick 10mm cable needs to be run from the shower location to your consumer unit ( fuse box ) could be floor boards up and all sorts to get it in that's why your landlord is avoiding it, also a electric shower is expensive to run around £2 per hour depending on your tariff, if you have a combi boiler better off with a mixer tap
@scitec6166 If usually involves a large main fuse and possibly bigger using intake cable.
I was quoted over £1000
Thank you for the video!! All we need is the right advice on how to invest in crypto and we will be set for life, I made over a million dollars from trading this year regardless of the market conditions😊
Investing in stocks and Crypto is planting a tree for your future; with patience, it will bear fruit.
Investing in stocks and Crypto is planting a tree for your future; with patience, it will bear fruit.
Crypto is the last thing anyone should invest in
@@paulgbar666the new President of the USA is getting in
You're a scammed
Wrong! The less rental stock, the more properties to sell first time buyers. It's a good thing not bad thing. But I see how landlords could try to justify it as wrong.
first time buyers will struggle to get mortgages with the rise in zero hours contracts
@gabymotsoloc9295
Wrong the more properties available doesn't mean more available for FTB.
There are already plenty of properties to buy.
It is unaffordable ones that prevent FTB from buying
That is why they are tenants.
There is zero chance of property prices reducing even as LL sell off.
So tenants who can't afford to buy will be homeless.
Nobody cares about tenants
You’re assuming everyone wants to buy a house and is earning comfortably, which is not the case. Also not everyone is going afford a deposit still or even get a mortgage given what’s happening in that part of the industry. Government are also looking at more restrictions on right to buy council houses. Renting population remains pretty high.
@@brianlopez8855 Yes - "first time buyers will struggle to get mortgages with the rise in zero hours contracts" but it will be a whole lot easier if PESKY landlords just Fed OFFed from buying dozens of houses.
@@paulgbar666 Britain has a housing crisis the size of a GALAXY and you say "There are already plenty of properties to buy." You must have forgotten your medication.