Landlords: Is this the end?
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- Опубликовано: 26 апр 2024
- Landlords, it’s finally over.
After months of waiting and furious arguing, the renter’s reform bill has finally passed through the House of Commons, but some of the changes have caused some serious upset.
Yesterday I was invited onto LBC to discuss this with Nick Ferrari and there were some fiery opinions being aired!
But as both a tenant and a landlord, I have a mixed view on the subject and I can understand both sides of the story.
So in this video I will try to give you the most balanced view possible on:
What the new reform is, and how the government has managed to upset both landlords and tenants in the process. .
Plus at the end I will give you my personal opinion on the situation and give you an insider’s view on what’s likely to happen next - which you won’t see reported in the press.
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We’d love to hear what you think in the comments below. You might even have a topic you’d like us to cover in the future - if so, comment it below.
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My landlord has been fighting to raise the rent by 12 percent. Not only that but he also wants us to pay for all of the money that he missed out on during the pandemic where he was not allowed to raise the rent as much as is usually allowed, so if this all goes through, I am looking at forking up around 2 grand just from that plus having to pay 12 percent more. He owns buildings throughout Canada and it is a multi billion dollar business that is still growing as he buys old buildings, fixes then up and jacks up the rent to outrageous levels and has other building being built, so he is by no means hurting financially.
He is trying to get away with as much cosmetic work as possible to attract others and wants us to pay for every last thing he does to the building. He legit has the worst pictures taken of a few spots that are pretty bad but all the rest of it, no pix are taken, one example is in the replacements of the metal railings and spindles for the balconies where most of them just needed a good paint job with some of the balcony floors just requiring a good pressure wash to get them looking new. At that point it is no longer about needing any extra money.
You buy an old building, you have more have to repairs and costs that come along with it, that should not be our problem. He has more than enough to live a very comfortable life without ever having to worry even if the cash flow comes to a screeching halt, so it is just pure greed at this point. I know an 81 year old lady in one of his neighbouring buildings who was grandfathered in and they have been trying to get her to leave, and to add insult to injury they are only offering her 3 grand to do so. All of this leaves only one option, that is, that he is heartless. It is just absolutely ludicrous.
Rishi Sunak called an early election as him and his NON-DOM wife will be leaving the UK before April 2025. He knows he won't win the next election, this is why so many colleagues are jumping ship. Rishi didn't take the PM job on for the love of the UK or its people, Rishi took on the PM job, for connection, power and status.. Bye Rishi I hope you and your family enjoy living in the USA in 2025, Texas & Florida ?? 🤔
Who else misses the post Pandemic Mortgage rates, those were good times ! The market correction has been massive and with the impending recession it seems like things are only going to get worse.
You can say that again! I have pity for people who spend above 50% of their take home on rent, to think that things aren’t really looking up for the economy and inflation is driving the average cost of living to insane highs, a lot of people might not be able to get through the coming phase.
I think this will push smaller landlords out, the vacuum will be filled by institutionalised landlords already benefitting from recent tax changed. Once small landlords are gone big business will do what big business always does. Carve it up amongst a select few, lobby for preferential treatment and defacto changes to law plus access to tax payer funds. They will have total control and will move to push whatever agenda they see fit. Don't expect great service, quality housing, and a charitable landlord. Big business only has a duty of care to its shareholders so if anything given time, tennant protections will only go down.
I agree
They want fewer landlords to manage. Give the big cheeses tax incentives but easier to control
The problem is hardly ever an ordinary landlord and its not the tenants either. All the trouble comes from the parasitic letting agencies, the buy-to-let cowboys, the quick-flip developers, the big property speculators and, not least, overweaning government regulation that adds costs and makes it very hard to stay within the rules. Unfortunately, the market is overwhelmingly dominated by those big chains and corporations now and the government doesn't give a crap for the small guys.
Absolutely true, prices will go up and anyone that "does not like it" will end up back with mummy or under a bridge.
Exactly what happened in Scotland after the reform act of 2017 (plus local council red-tape, restrictions and interference). Most bewildered tenants don't get why their rent has soared, yet plenty vote for the guilty parties
so basically they want to get rid of small and medium renters and favour large size renting firms that can handle such hassle.
the high society want everything not just your 2 nd home - the whole lot
This is it, it is going to get so so much worse for renters. I am going to let go of my HMO to large companies specialising in such rentals. I feel sorry for the renters because the rental is going to double for sure. Those companies need to make profits on top of charging costs for fulfilling all the demands by govt along with the risks. Student rent has already skyrocketed but it will now double.
you will own nothing and be happy, all part of the plan
I am an ex landlord. I would not consider getting back into it now. I have recently sold two properties with the last waiting on a contract exchange date. On all three properties, the estate agent tried really hard to persuade me to rent out as opposed to selling as they have a waiting list for rentals. I declined. Who needs that grief.
Thats exactly my view which is why I have been selling up.
Why did you sell now? I think it’s literally the worst time to sell, considering the interest rates will be lowered by next year.
@ I've been selling gradually over the past 5 years.
@@kmack5799 you didn’t answer the question. I’m thinking now is actually the best time to buy, the interest rate will be lowered soon and house prices will start getting higher. Maybe selling in 5 or 10 years makes sense. I don’t really understand why would you sell when the market is down.
@ Because the Government are making it harder and harder for landlords and it's not going to get any easier so why bother?
I had a tenant who had abandoned the property, in practice, but would not give up the tenancy.
While he made occasional use of the property, and had left a small amount of furniture to legitimise his "claim", he had actually moved just a few hundred metres down the road. Of course he stopped paying the rent as well.
On my solicitor's advice I went through the courts to regain legal control of the property. I was advised this would take three to four months. I was horrified that I would have to go through an entire winter with an unsecured and unheated property. I was also advised that I must not enter the property during this process, even though the gas safety certificate was due.
In fact I didn't get control of the property for eight months. And, with all the repairs, I didn't get a new tenant in until two months after that.
The major hold up was the legal process, which included having to wait weeks before the bailiffs could come and formalise the faux "eviction".
At one point the court officials started to demand a hearing with all parties present, even though the so-called tenant was now on the run from the police and was certainly not going to attend a court hearing. My solicitor said this was a standard delay tactic on the part of the courts.
So, trust the legal system to manage either no-fault or at-fault eviction cases properly? In your dreams
You got nice and fat by putting the hard earned money of another person in your pocket. Now you think you're the one who's been used 😂
Hi this is a absolute nightmare.the only good thing to come out of the new legislation in Wales is you now don't have to go through the courts if a property is abandoned.its a lot easier.
@@JohnBowman-ut4dz Be careful though. In my case the property was not technically abandoned. The tenant refused to hand over the keys, left a couple of items of furniture in the house as "proof" of residency, made occasional visits and even put signs on the windows saying "I live here. Do not enter". At one point I changed the locks but he broke back in changing them again.
I went to the police claiming was in effect now a trespasser causing criminal damage. But even they would do nothing, agreeing with my solicitor he remained the legal tenant.
I concluded with all of this that a landlord really is on his own. The system is not on your side.
The "solution", apart from getting out of the game altogether, is to have a high level of insurance that covers rent loss and legal fees, and to have a good vetting system. Oh, and trust your instincts. If a prospective tenant smells fishy, run a mile. Find a nice old couple that have English as a first language (or maybe English or Welsh in your case)
Why not get in, change out the lock and move in yourself for the time. Seems like a much better option than go8ng “the legal route”.
You should have contacted me. ☠️
I don't think this will bring any relief, as Scotland has had this law for many years and the situation hasn't improved. What England and Scotland need is a cap on portfolio investment. Currently, investors from Hong Kong and the Middle East buy most of the affordable resale properties, making it impossible for even cash buyers who are first-time buyers to find affordable options.
As a homelessness assessment officer in the council I can tell you that there are good and bad landlords, there are landlords who will evict someone because they want a little extra money
And that is why anyone pushing back against Section 21 removal and promoting a dilution of tenants' rights is being intellectually dishonest.
True. My current landlord increased my rent £150 two years ago, £250 last year and I think they will push me until I leave just for extra money.
Landlords cannot assume that they can get a higher rent on a new tenancy just because they evict someone. They may find themselves instead facing a long void period or only be able to achieve a lower rent.
@@phYT01unfortunately not in London. Is such a high demand for flats that it will go anyway and they are very greedy :/
@@P4AULINA I am a London landlord. In the last two years I have had two void periods of three months between tenancies with few enquiries in spite of being prepared to make significant rent cuts to get a new tenant in. What you say about high demand for flats is just not true.
Owners won't rent.. Landlords will sell up! ridiculous
It's their choice.
@@eattherich9215 it is. Watch everyone start moaning in 12 months time that they can only move into bigCo managed rental blocks.
selling up suits their agenda - hedge funds and other corps will buy
You are not a politician ,
@@eattherich9215 when your landlord xell up where are you going to live ? In a council property.
If a landlord is in financial trouble, and needs to sell the property, then a no fault eviction is the only route!
.
No, it's not. Section 8 of the Housing Act 1988 provides for:
• the landlord needing to live there themself;
• redevelopment; and
• using the property as a holiday or student let.
Section 8 is also the route to evict defaulting tenants.
@@eattherich9215
That doesn't include selling the property.
,
There is nothing preventing a landlord from selling up, and providing a reason to an otherwise compliant tenant why, is not unreasonable. How would you feel if having booked a long anticipated restaurant table, it was no longer available with no explanation and the booking fee was retained?
@@eattherich9215
Not comparable.
It's an example of unfairness, but perhaps you would walk away from a cancelled reservation and the loss of the booking fee without protest.
Thankfully we managed to sell both our rentals last year.... A string of bad tenants cost us thousands, the last straw was a puddle of dobermann piss under the brand new laminate flooring that covered the entire kitchen floor (not exaggerating) and every downstairs door, door casing and carpets ruined...Now this !! It's just not worth it.
Me too, I got out. Just in time for this legislation to pass, thank heavens
Saying landlords cannot refuse pets is ridiculous. It’s my house, if I don’t want pets in there that should be my decision. It’s outrageous.
@kellywalker4494 You'll be able go refuse, you'll just need a reason. I've got mine in place already.
I expect there will be sufficient loopholes for any landlord who doesn't want strangers' animals in their property to utilise. Allergies, religious/cultural reasons, etc etc.
@@stevenhodgson834 I hope so.
What do you expect? Its your property, not theirs. You charge them a kings randsom to live there so they can pay your mortgage.
I'm a tenant and I completely don't understand why a landlord would have to give me a reason to evict me after my contract finishes. It's his property at the end of the day. Some landlords will sell their houses instead of renting them out and rent in general will go up. Isn't that bad for both parties?
Time for landlords to sell up. I’m sure tenants will be thrilled with ever increasing rents due to a lack of properties on the market….
If landlords decide to sell up, it might just open the door for tenants to buy their homes and break free from the cycle of renting. The real issue is the imbalance that allows mega landlords to dominate the market, driving up rents and limiting availability. It’s high time we shift focus to enabling home ownership rather than padding the pockets of those who profit from the housing crisis. Let’s advocate for policies that prioritize people over profit.
You £$%& right off!
Great news for the braver landlords!
@@AnthonyZboralski Tenants can in most cases not buy even if the property prices fell with 50% so it’s that. This will only lead to more homeless people but who cares about that?? Not the politicians, as long as they can hurt “the rich” that’s their only goal.
@@AnthonyZboralski Will not happen. Banks will not give these people loans, and the rental properties on the market will for 90% of the properties be owned by big companies that will be so bad that ANY tenant will think back at the days they were renting from a private landlord that actually cared about the property and was willing to repair damage etc. This is not good. The intentions might be good?? But the result will be horrible.
Genius, I pay over 10k for rent, I think we will be far better off without you landlords don't worry...
It's the open-ended tenancies I can't get behind. A contract is a contract. Make the notice period six months, if needs be, but not being able to take back your own property at the end of a fixed term contract is tantamount to theft.
No. This is how it is handled in Europe and has been for decades, I assume you voted remain..
@@newsoftheday420 Well, I China, no ones own any property at all. They are all leasing property from the government.. There are twice as many people in China than in Europe, so when they are more, they should know better? Who should we believe, 500 million Europeans or 1 billion Chinese?
@newsoftheday420 Yes absolutely there was even a gulag that was made specifically for property owners
@@elbuggo you do realize that china has propably higest pathodevelopment index on the planet. What they sell is almost would give industrialization era UK landlords a run for their money.
@@newsoftheday420 yeah but European countries mostly worked the kinks in the system to a tolerable level for both parties.
The biggest impact the Bill will have is creating a database for Landlords. There are a lot of landlords that avoid paying tax on rental income by simply not reporting it. The new Law will force them to register under the database and bring them into the tax net as HMRC can then check the database for tax compliance by Landlords. If you are a Landlord like me who reports and pays tax on your rental income you have nothing to worry about but there are thousands of landlords who evade paying tax on their rental income.
A tenancy agreement is a contract between two adults, why should the government get involved?
To pander to voters
The gov can’t deal with the homeless so they need landlords to do it.
@rikardsaje: a tenancy agreement is a legal agreement and governed by laws that successive Parliaments have put in place. The government is, effectively, the law.
Because the government needs support the most vulnerable in society. Rules based order!. I am a landlord and see protection of Tennant's as vital given the horrible rip off merchants out there
@@stuplant6693 How does this bill protect tenants in practice?
Had a chance to become a landlord, but so many regulations ,i decided no. That was a few years ago. It's even worse now.
Wise.
Perhaps councils shouldn't rely on private landlords to provide housing to save them building affordable homes and not having responsibility for them .
As long as you are allowing to buy properties as investment vehicles, no amount of supply will ever be enough to keep up with demand.
If you own more than 1 property you are technically taking houses out of the market, it’s simple
Counculs wouldn't have a housing problem if they weren't trying to house the entire world. If we're going to focus on a problem, let's focus on the root problem that's causing demand to exceed supply.
They wouldn't have to rely on private landlords to provide housing if they were properly funded by central government to build more council homes in the first place.
As a result, councils would have to have council tax at least quadrupled to fill the funding gap so they could then afford to build more council homes.
Either way, the council is made out to be the bad guy, by this high tax, low results government, where the problem truly lies.
Hi all these things came in in Wales I over a year a go and it also went further and gave succession rights to the tenants children all these new rules which have come in in Wales has meant that one in three landlords have left the sector meaning that the rental crisis in Wales is as bad as it's ever been and rent costs have gone through the roof . In Southern Ireland they put a rental cap on rent this is meant that's so many landlords have left the sector the rental market is in crisis.You only imagine what's going to happen in England with a population of 50 million people. Politics in this country is just crazy thanks John.
Sounds like fear mongering from a landlord class that intends to continue to sustain their own prosperity on the basis of intimidating and ultimately blackmailing others, while hilariously pretending they play the role of savious without which housing could not exist.
For landlords to exit the market someone has to buy their properties. Either they can't sell or they sell at a price at which new landlords or residents afford to buy. Where is the tragedy?
@@willkyddI'm a landlord - frankly, this is great news for us if it's true. I want the unprofessional landlords to sell up and leave the sector. You have people who bought a house 30 years ago and are sitting on decades of growth with decades of rent paid to them. Many have paid nothing to upgrade their homes so they're happy to let them go for less than full market prices. Those bargain run down homes are perfect for people like me. Young, new landlords. The more difficult it becomes for landlords near retirement, the easier it will be for people like me to buy cheap and (although I feel bad to say it) this will push up rents if there are fewer landlords.
I don't think this will happen though. I just don't see something decent happening for me
@@willkydd now firstly the data is out there proving what I have said is right just look. Sounds like you have a problem with landlords I have worked very hard to be come a landlord and sacrificed a lot to insure for myself and my family in the future I provide purpose-built brand new houses for my tenants at a rental cost that is currently lower than social housing in the private sector. None of my talents have moved out because they've done the numbers and buying a house is a lot more expensive than renting one of mine. As for passive income what a load of rubbish today on Saturday I've been mixing concrete to repair drive to one of my rental properties this is all part of being a landlord and owning that commitment as a business. If you don't like landlords work hard save up and buy your own house.
@@marcus.H hi thanks for your reply you're right in most of what you are saying this is what the government is trying to do to get rid of individual landlords because they want to replace them with big corporate landlords to put up the standard of properties which firstly comes across as good. But the only way you can encourage corporate landlords is with private investment this means shareholders and large profits (Barclays Bank wants to build 100,000 houses) the only way this will become a viable is to have rental prices high enough so the corporate private sector are coverage to invest. All this is really bad for the person who just wants to rent a property because the government nose to sort the housing crisis out they will have to build a lot of houses and the building cost has gone that high that's most young people will not be able to afford them. So ultimately this is not good for buyers or renters (but for companies who owns several properties it's good news)
I don't see how any of the things you say are pertinent to the conversation. You may be providing a good service but you aren't required for good housing to exist.
As someone who has been saving up and waiting to buy my first holiday let or btl, the whole thing now sounds ridiculously complicated and risky, and in honesty, far too much effort for my time and money. I'll now just put that money into an S&P Index and save myself the hassle.
Great idea, housing should not be traded like a commodity, it's people who make stuff, serve us and are the backbone who survive on incomes, not passive asset wealth. Hard to beat the Footsie 100 and the US index 500.
@@grantbeerling4396 Bitcoin!
Tell me more about the S&p index
I've got no problems with that mate, you can invest in these paper assets all you want!
Problem with people who buy properties specifically to rent out are fishing in the same 'affordable' homes pot as first time buyers, but with more cash.... This puts affordable home prices up for people who just want a home, not a cash-cow....
Thank you ("@chrissmith2114") for the most sensible comment on this video. Since returning to my NZ home after spending 20 years in Aussie, I am now in my 18th year of renting. Unfortunately "investors" have deeper pockets than me (especially with all the tax perks they get) and I cannot buy even the cheapest house, anywhere in the whole South Island (ie within a 600 km, 350 mile radius, until you literally run out of land into the Southern Ocean LOL ).
Some people's comments here claim it's a bad thing when investors sell properties. No it is fantastic. Every investor that sells their place, that's one more place available for a wannabe home-owner to buy (thereby freeing up for another tenant, the place whey were renting).
What we do need to do is stop big business, overseas investors, "Wall Street" etc buying up homes. We know that social outcomes for society are best when people own the homes they live in. Nowadays as solar panels are becoming cheaper and more efficient, that installing solar, even in England, a house can be made self sufficient in electricity including heating, for much of the year.
Second choice would be investors who are NOT in it to make a profit. That could include "council housing", church and other non profit and charity housing providers or not-for-profit housing co-operative trusts. The ONLY case I know of, where a "landlord" has voluntarily installed solar panels, to reduce a tenant's electricity bills, is a church charity based social housing development, near me.
My tenant are on benefits for nearly 14 years. They have children over the age of 20 and are working. In fact the son is doing business from this property selling cars. When my husband passed away they offered to buy my house.
I was locked out of my own home when the estate agent showed someone around my house without warning me. Then I was given a no fault eviction by two other landlords when I asked for repairs to be done … one of them kept my deposit and it looks like I am about to lose another as this landlord has never given back a deposit (from his own sister I heard this).
These landlords are above the law - one landlord put it on writing she knew she was renting illegally when she ignored current legislation … the local council promised to and then failed to fine her £5k and kept putting back the date they promised to visit my last home.
I’ve had one good landlord in 38 years!
Im sorry but half the people commenting on this are wrong and have no idea of the true situation. The government should never have got involved in this. By doing so all they have done is put rents up and made many landlords exit the market. So fewer properties to rent.
Why should a landlord have to wait 14 months in some cases because someone doesnt pay their rent? They are not a charity. This is why i wouldnt go into buy to let.
Most landlords own 1 or two properties. They are not super wealthy and are doing it for a pension as the government messed all that up. Rishi Sunak is however worth 800 million quid and I am fairly certain he and the majority of MPs across all parties are heavily invested in property in one way or another.
You people are missing the bigger picture. We need small landlords. If they exit large corporations will buy up most property and then things will get really bad. They have real power and money to lobby and reverse or change laws to suit their narrative. This is already starting to happen.
I agree but doesn't this make it better for working, regular paying tenants who are struggling to find places? The less cowboys there are the better for everyone.
100%
You are correct but you miss that this is intentional. The corporations need small landlords to move aside so they can have a functioning market. That includes, low supply, low competition, high regulation, high barriers to entry and high rents.
the renting sector is the main reason we have a housing crisis, Sucking on properties which raises prices, making it hard for new time buyers, landlords have to pay more to buy more properties which mean they have to raise prices to recoup return investment. Making it harder for people to save. if people lose their job they will struggle to pay rent and get kicked out.
don't get me wrong renting has a place for temporary situations like uni, but too many properties are owned by my landlords, creating a very unstable situation. The only winners are the banks especially with BUY TO LET scheme.
Things are already really bad, but that’s due to how silly property prices have gotten silly over the years (and they way out of line with what the average person actually earns).
I look at the average price in my my area now, they’ve gone from around grand for a 3 bed to 1500. If I wasn’t running my own business, we’d be screwed (as most people are). Something has gone terribly wrong in this country.
14 months will bankrupt landlords
all part of the plan.
Finally landlords will feel what we go through every day being broke because of rent? 😂
@@madameversierakarma coming for em!❤
Get a council property then, oh of course there isn't any! But you want charity from someone else in giving you cheap rent! @@madameversiera
If people don't pay the rent the tenant should have to pay up or get out, there's nothing wrong with that but if a tenant is evicted the council should help to house them, just like they do for migrants.
Answer : no.
Just increase rents to mitigate rhe additional risk.
Which is exactly what Gove wants, I'm sure. Well done.
Then they'll bring in rent control like the SNP have in Scotland. It's a disaster just waiting to unfold.
If no one will afford these rents who will you be renting out to genius?
Great stuff well done 👍
@scienceevolves4417 The market for the demographic that my portfolio is aimed at can cope with an increase. I've checked, didn't need to be a genius to do that but thanks anyway. 👍
People will go back to live with their parents instead of paying huge amounts for rent.
And then on the other side of the coin; our landlord of 21 years NEVER did a repair in any of his 50 + houses apart from the absolute legal bare minimum. Last off he remortgaged all the properties he could and just left the country! Now all his tenants are left in substandard, neglected properties which nobody wants to buy. A potential landlord has his hands totally tied. It’s difficult to get the tenants out to effect repairs and the houses are now getting rent paid straight to the banks who have repossessed. Now they are just making the minimum legal repairs and upkeep themselves and they are basically stuck with all these properties on their books. They are impossible to make a decent enough return for anyone to take them on. In 21 years I have never even had a Gas Certificate done, my roof has a 4 foot hole in it which I fixed up myself and I have had the boiler repaired myself by British Gas 3 times over the years. I have replaced ceilings, kitchens and bathrooms myself because I’m capable fortunately to have done. There are some older people who haven’t been so fortunate. It is a sad and desperate time for both tenants and landlords.
We need a DEDICATED landlord and tenant court. To logical for an idiot government.
That sounds logical except here in Ontario the backlog is over 53,000 cases. Landlord/tenant court is woefully understaffed. That can become a problem everywhere. Large landlords can somehow fastrack their applications but small landlords wait forever.
There is no security being a tenant in the UK private rental market.
Its too expensive for some landlords and for the vast majority of tenants.
The balance of power is clearly with the Landlords…. I have had my fair share of section 21 notices due to having the temerity to ask for repairs, even after years of looking after the property and paying on time
The housing market is broken, slumlords extortionate rents and private housing not affordable by even professionals...how can a fundamental right HOUSING be a priority business?
Tell me about it. Being on 20k salary in a f/t job I'd have to give away these parasites 60-70% of my hard earned wages for a decent housing nowadays? What a joke and a daylight robbery.
@@scienceevolves4417 apparently the future is bright?...you won't own anything and you will be happy?... really!
It's bloody impossible to even be a tenant at the moment I swear!
The problem is hardly ever an ordinary landlord and its not the tenants either. All the trouble comes from the parasitic letting agencies, the buy-to-let cowboys, the quick-flip developers, the big property speculators and, not least, overweaning government regulation that adds costs and makes it very hard to stay within the rules. Unfortunately, the market is overwhelmingly dominated by those big chains and corporations now and the government doesn't give a crap for the small guys.
I worked through three letting agencies for my Manchester property when I lost my job and had to move to London for work. All of them were bad and I suspect there are more bad than good.
@@dazecm My last job was for a maintenance company that worked for most big letting agents. I had to deal with them on a daily basis and I can tell you for a fact that every one of them was greedy, crooked, dishonest and unscrupulous - both toward the tenants and the landlords. They inflated all the bills, fraudulently altered the receits, stole the deposits, dodged the taxes and neglected the properties. Some of our engineers were so incensed by the conditions they encountered they refused to work for them. Those agents included the biggest in the land (you know who I mean).
This is one of the biggest mistakes the UK can make.
The reality of outcome here is the landlords will either hand off the property to be managed by "experts" which will tie tenants up in paper work and legal text which the tenant can't possibly understand or compete with. Or the landlord will simply exist the industry and then the tenant will be forced to buy property.
The first of course drives up costs which will drive up rent as the costs are passed on to the powerless tenant. The thing is you can't have a "no fault eviction" the owner has to have right on the property they own eg if they want to move back into it. If they need to sell it. If they want to do major modification or repairs to it.
The correct way to fix the renting problem in the UK is excess supply of property. This will means that landlords not doing a good job people leave. You need to let the market decide the outcomes. Simply adding rules and red tape will just add delays and make everyone unhappy and everything overall more expensive. This is another fin example where the winners here will be the giant property holding companies when working at scale can afford teams of lawyers to bury people in paper work in the court systems which the average person cannot compete with. The people who benefit are the share holders and lawyers in these companies. Everyone else losses.
An example of this is if you want security, the contract will be forced to work both way. The tenant wants 6 months notice. Fine. The landlord will say pay 6 months up front. The regulator jumps in says "you can't do that" the landlord sells property and buy one in another country and rents it there where the rules don't exist and than says "fine buy your own property with a mortgage you don't have a deposit for". This is the outcome your going to get in the long run. Which is landlord exiting and more AirBNB/Hostel style long term rentals by people.
Already I live in a town where there is approx 80,000 people and there is 6 available properties to rent. The amounts being charged are way above sensible. Only way to fix this is add more property. Which is blocked by planning permission which is blocked/rejected because lack of water, sewage infrastructure. There no amount of paper work, rules, regulations which is going to address this physical issue.
Yeah, no. Markets never fixed anything. If in the next year all half of landlords want to sell, pricel will go down to 2008 period.
Or we realise that private landlords should not be in the business of providing properties to the type of tenants who are really in need of a permanent family home. A rental market like that is entirely based on opportunistic profiteering from a broken national and local government housing policy. Not exactly the most ethical of reasons to buy properties. Also, when buying up properties to rent, you also contribute to the very housing shortage for those looking for a long-term/permanent family home, thereby making things worse and further inflating profits.
Being both landlord and tenant is quite common. A single home owner not selling and instead renting another place with their partner is a normal case. The problem are landlords with many properties. But now many will sell and normal people won't be able to buy, so again we'll see rich people buying assets from normal people, increasing the wealth gap and making it harder for first time buyers to find anything and pushing up rents. Really, the system in the UK is completely against its people.
Just had a bit of a shock.
Took up a new tenancy to facilitate my son’s access to college for his course (July ‘23)
December a debt collection company started mailing asking for information regarding our tenancy. Jan’24 we’re informed that the ‘mortgage’ has defaulted and possession has been reclaimed by the bank. March ‘24 we’re given 48 hours to present our tenancy agreement or be formally trespassed.
Last week, we were notified of an intention to instruct a solicitor to serve a Schedule 2 Ground 2 vacation request to dispose of ‘the asset’
The Landlord has remained the same despite the default!!!
Already have viewings for new places nearby and will likely serve notice and leave before the 2 Months notice expires.
Will be raising a civil suit after the fact.
when its the landlord trying to get his property back the legal system is screaming blue murder and putting all sorts of obstacles in the way. When its the bank it is fast, smooth and ruthless. A foretaste of how it will be when small landlords have been replaced by corporates.
Landlords don't kick out good tenants. Here they go protecting the criminals again. Sick
You're deluded. Landlords DO kick out good tenants ALL THE DAMN TIME. That's what a no fault eviction MEANS.
It’s a criminals world it has become criminals always look after each other
@@kubhlaikhan2015 Why would they do that. So they can take a chance on getting a bad tenant. Landlords like good tenants.
@@lawrencehalpin6611 There are lots of reasons. One of the most common is to bypass the rules about rent rises - if you kick the tenant out you can charge the new one more. Another is tenants complaining about disrepair and other broken promises - they just get kicked out, again by-passing all their supposed statutory and contractual rights. Another reason is because a lot of landlords want to flip the property and buy another, or to upgrade it so they can charge even more rent. If you think these abuses are rare you must have your head in the sand - most renters I know are constantly ejected and having to look for somewhere new at enormous cost. None of them are delinquent and they are all "section 21" i.e. "I am God and I can do what the fk I want to your life for no reason at all". Property rights should NEVER be a Divine Right and our ancient constitutional laws about it recognised that for centuries - until THATCHER. There are huge historical and political consequences to enslaving the population to this kind of tyranny - the kind of garbage social relations we thought we had left behind in the 16th century are now returning. Democracy and human rights are crumbling and nobody wants to admit they are a part of it.
Course they do, so they can get someone else who'll pay more...
Excellent summary. Thank you!
I've had 5 no fault evictions in 11 years. Never missed rent once. One of them refused to put my deposit in a scheme.
Prats..
No deposit protection that's breaking the law right there.
Thank you
Renting is the only option for some but the landlords are now only giving a two month contract and can evict if you don’t agree to a massive hike in renting cost. The government hasn’t helped anyone with these changes. Everyone loses
I’m sure that anyone who has money invested in a bank, building society or any or any other form of investment, apart from housing wouldn’t be happy at being told they can’t get their money out for at least 6 months or longer if they need it? Then the banks etc refuses , and they have to take them to court at their own expense to get it back which could take up to 2 years or longer! I have a fairly large portfolio of properties that I am now starting to sell off. Less homes to rent, rents up. Cracking idea from the government. Landlords have to play by the rules, tenants don’t. Let there be a bad tenant register so landlords can check any future possible tenants aren’t on it. Have a system where previous tenants are traceable for any rent arrears or damages to landlords property rather than just vanish into thin air. Things like that should be brought into a new reform bill.
I suspect we are going to see a flood of smaller properties on the market for sale soon, who would want to be a landlord in this climate?
the elite are destroying the middle class. They want the west to be like china. A super rich elite, then the slaves.
Everybody in the entire country now knows beyond any shadow of a doubt that Tory manifesto commitments are not worth the paper they were printed on, that on a broad range of subjects is why the Tories are toast. The issue completely ignored, that of sky-high lease extension/renewal costs has been completely ignored, hopefully Labour will address this issue.
So glad I sold my BTL last year. I hope Shelter and renters get everything they hoped for from this 👀 I’m sure renting from global banks will be a great and fair experience 👍
THANK YOU FOR THIS INFORMATIONS
Coming from eastern europe where there is 90% housing ownership countrywide, its strange to see some people in the UK only contribute to society by getting rent money...
I don't think we need advice from Eastern Europe
@@owenmerrigan1791 When Eastern Europe, of all places, is doing way better with actual home ownership, along with the greater housing security that comes with it, than we are, I would consider that to be a cause for concern.
Does this mean I can't sell my house if can't evict the tennant until they want to leave?
You'd have to sell it on with them still in it for the next buyer to deal with.
@@ty194wtf
Very clearly explained.
Tenants who don’t pay for 2 months, their cases should be expedited. Landlords these days don’t make much money as mortgage payments are so high.
What about the 2010-1018 when they made tons of money?
@@isaakmorse6044let's not talk about the times when landlords essentially were given a free ride 😅
As an ex landlord of 20 years, my advice is NEVER RENT OUT PROPERTY AGAIN ! in the UK. Labour and Tory are hell bent on waging war on landlords, holiday let and second home owners, as they are now far left zealots who use legislation and taxation to stop ordinary people from making monet and owning assets.
Its going to end badly for both tenants and property owners in UK.
If they were properly managed 'left' then the tax money would be used on us as a society, but it's not. They're corporate shills. Gangsters. Spending the money on their sponsors and keeping everyone else out of the game.
@@br4975same here. Your on crack if you want to be a landlord in UK.
Absolutely spot on. Thats why everyone with a bit of money and common sense are all moving abroad. The UK will be left with a bunch of chavs, freeloaders and extremists
It's pretty bad for tenants, too. I know the horror stories of ghastly tenants, but there are just as many of abysmal landlords. Yes, there's more tax on rental properties, but neither is there rent control, so rents are now at record highs, with no additional benefits to tenants. It's a bad system all round, but it was always going to be this way once Thatcher sold off all the council housing. However, to describe the Tories (or even Labour) as "far left zealots" is absurd. Economically, we have never had a more right-wing neo-liberal government.
Landlordism is parasitism. Making someone else pay your mortgage for something you don't own is immoral. Usury used to be illegal in Europe.
Just end up back to the 1960s and 1970ss where no one will risk renting out there house for fear of a sitting tenant preventing its future sale.
I have slowly been selling off my properties as its just not worth it anymore… I treated all my tenants really well, but the ‘powers that-be’ think we are all landlords from hell which simply isnt true...The tax system is also against us too. I had 7 properties but have been selling them off and only have one left which will be sold when the tenant decides to leave and the government wonders why there is a housing shortage!!!
I have been given a no fault notice after renting a property for 8 years. They either want out/more money or air b&b (which is viable where I live). There are very few properties coming up for rent and the rents are still high (maybe going up with demand). I am hoping to buy a motorhome and live in that. That's my only option right now.
Excellent
All it will do is make it much harder for tenants to get in, I will double check everything , I have not been checking some things a friend of a friend needs a house sort of thing now and I had this yesterday , “” I haven’t got a landlords reference I’ve been living with my mums house,,,,, not a chance straight in the bin, it’s a lie, as of now your getting checked ,I had 27 people apply for my last house all this will cause is lots of people with nowhere to live ,, I can’t be the only one like this,,
Shouldn't you be performing due diligence on your part *by now* , for your own peace of mind and safety of an investment if nothing else? 🤔
My renting neighbours are mostly druggies and dirty and a general nuisance and I can't get the land lords to do anything about them because they pay this makes it way worse my village is becoming a bloody drug town.
Oh yeah, which village is that then ?
@@The_Rizz_Lord_ I would prefer not to say I am pretty well known in my area if I told you where I live all you would have to do is ask around a little and you would easily find out who I was and I don't want any trouble.
lt absolutely is not the Landlords fault. As a Landlord, our hands are tied. l rented a house to a seemingly nice tenant. As soon as she took the house on, she subletted, allowed the house to be trashed, and stopped paying the rent. l had to do the legal route to evict her. 15 months of no rent it took me to eventually evict her via bailiffs. Even when the Court rubber stamped it, that she must pay all 15 months rent plus daily interest, my Solicitor advised me to walk away from it...He said, it will cost me several thousands just to start the ball rolling with ZERO guarantee l will get a penny back. l have just agreed a sale, but l had to reduce the valuation price by 30k because of the state tenant left the house in. As a landlord, you cannot even knock on the door, and certainly cannot tell the tenant to behave. Its totally on the side of the tenant, Thats why lm selling them asap
@@carolharkness5023 I have contacted the land lords and they are a company called hype rooms or something like that they were rude and literally fobbed me off saying they search the place and found nothing but the stink of drugs is daily.
@@matthew-005
Lol. Why would I need to know who you are ? Ha ha, pea brain
That's it for me, I'm selling up after 30 years in the PRS.
Landlords have slowly but surely had control taken away from them, so I'm selling whilst I can still get tenants out. I put the blame firmly at the door of the government. Poor tenants, it's going to be a very difficult and expensive time for them from now on
what about good tennants? do we get any rights? my rent is paid on time and im not damaging the house or anything but i read that landlords will now be able to give me 1 months notice to move out, even if its just to let his family stay for a couple of months to visit, they have rights over me, a paying tennant ... ive been in mine for 6 years now, the kids are in school, doctors, dentist, afterschool activities etc we have built a life and i got an email telling me new law for landlords can make me move out with a months notice and once my tennancy is up, it will automatically move to a rolling monthly contract.. i dont feel very secure now. i have 4 children, pets and a whole house of furniture. what do i do if i cant find somewhere else.. am i going to be put out on the street? il have no power at all. i always renew for a year, i like it here and i dont think its fair that i can be forced to leave within a month. its outrageous and im worrying a lot now. i cant find anywhere local with 4 rooms, its the upheaval of it, packing up and starting a life somewhere else all over again just as we are settled now. what rights do i have? am i protected at all?
Question, if tenancy is for an indefinite period, then tenant can stay on forever as long as he is paying his rent, right ?
In such a case, how do you get rid of the tenant if you want your property back for
- living in it yourself
- or selling it
-or getting a higher rent with new tenants
- or tenant not paying rent or bills and or has damaged the property.
How would you get rid of the tenant in the above situations ?
Tenants can't live there indefinitely as the law currently stands because a s21 notice is in place.
But if you mean the law under the proposed changes, you could only gain repossession by using correct grounds under s8. Nearly all of your examples would be covered under this.
He really sounds like the Prime Minister 😂
Would anyone be able to tell me how this will apply to HMO landlords? I am guess all the same rules will apply as single let units?
Yes, I would like to know too
Yep, selling my two rentals this year, it is just not worth the hassle any more. Feel sorry for my long term tenants of 8+ years, but this government are forcing this upon small landlords.
So if I work oversees for a few years I can't rent my house out, else I'll be homeless when I return to the UK?
This has actually happened in fact to many people! They became homeless
Wait to see if the Bill has sub-sections covering this. The similar Act in Scotland 2016 specifically allows owners to regain possession if they (or family) genuinely want to live in the property (or sell it).
I was evicted twice through no fault of my own , with kids . I’ve also had property I’ve rented out .
I have a tenant in my rented house which I sole relied on income! My tenant was served Section 21 and then had to serve section 8 through the agency. My tenant has not paid rent since September 23. He was served notice to be attend the court, now his given another 35 days which already cost me £2,480 already plus 9 months rent. I have been renting nearly 20 years Never had a problem always decent renters.
It turned out the tenant who is working as a Prison Officer wanted an eviction notice so that he can get council property. I felt very strongly that the court took no consideration of my situation but the tenant. I personally will never rent again anyone to anyone and sell my property!
Going through the same thing, tenant pays the rent as the section 8 nears court filing date so it doesn’t get there.
Was supposed to leave Sept 23 so I could sell it but no luck so far. Been a LL for 2 years and it’s been the most stressful 2 yrs of my life. Even gave the tenant a rent reduction after the first fixed term ended cos they asked for it and I had no reason not to due to a change in the market.
Been landlord since 1996 and never evicted anyone nor applied punitive rent increases, and always maintained property to highest levels. At one time had 7 properties…. Now down to 2 but now given Notice to Quit and am selling them and the 2 houses I am building and was originally going to let. It’s a mugs game and Labour will kill teh sector finally when they get it. SELL SELL SELL… 😢
I have a property on rent to a good tenant and I still have four years left on the BTL fixed term. Happy to keep it for now. But I'll be selling as soon as the tenants wishes to leave or when the fixed period ends, whichever comes first.
I just cannot put over 500k at risk on a future unknown tenant with the kind of conditions they are setting now, and it's likely to get worse.
The only silver lining is that with rental rates so high now, landlords can certainly make it worthwhile - but there's no guarantee of that lasting.
Landlords have had a free ride for 40 odd years. So why does this come as a shock that there's some re balance happening now?
Do you think tenants are enjoying the consequences of this so-called "re balance"?
Fewer landlords = fewer properties for rent = sky high rents.
Rents in this area have gone up by at least 25% over the past year. If this is what you're celebrating, then well done.
@@mak.ak.uk. oh and please do tell me. landlords are gonna be massively selling up eh?
Who will they be selling it to?
Businesses?
The state?
Other landlords?
People willing to buy outright?
Each of these options is at least as good if not better for the overall economy.
@@scienceevolves4417
Landlords selling to other landlords is a better option for the economy? How?
The only landlords who are buying up these rental properties are the corporate landlords with in-house lawyers and the cashflow to deal with problem tenants and the courts system. They are the landlords with access to the local MPs and government ministers. They are the landlords with hundreds of properties and able to set their own rent and control the market if they buy them all in one area. Small landlords have no such power.
Enjoy living as a tenant under the boots of faceless cartel-like landlords.
I'm not a landlord nor tenant but am I reading this right....if I owned a house and wanted to rent it out on say a 12 month contract and around the 12 months I decided I wanted to sell the house, I can't do that? There is no way to naturally end a contract at the end of the term and they will now all be unlimited? I assume I have mis-understood
You have the option to sell a property with sitting tenants.
I'm gutted. My only source of income is my rental income from the house I own. I send it all to my ex-wife to take care of our kids and have no way to work or claim benefits right now. When my current tenants leave I'm going to be left with the choice of selling and having no income or holding on and being unable to rent it in case they just want to stay there forever!
This new Bill will likely have provision permitting the owner to regain possession if their [genuine] intention is to sell, seriously renovate or live there. That's how it was for the Scotland Housing reform (Scotland) Act 10 years ago. But agreed, landords (inc me) became wary of renting to unknowns who may excercise their right to stay indefinitely. So I now rent cheaply to a trusted aquaintence. I despise the latest Act(s) but have no choice
Sounds like these rules are geared up so landlords cant have any standards for their tenents.
No dault evictions were less hassle than giving reason's and having a massive back lash.
Can only imagine the kinds of people that would benefit from these rules. Gets more and more ridiculous each day 🙈
Is the the no fault included when the landlord lives in the same property, so therefore the tenent is paying rent of the room?
No, the changes are for AST's - so for the most part private rents with no resident landlord. People living with a resident landlord generally have next to no rights as it is.
Renters reform has hugely contributed to homelessness, landlords are selling up and people are becoming homeless as a result.
I think that the private landlord will start to sell their property as this is to much headaches and then the tenant will be giving notice so he can sell his property and I don't blame them.
Landlords tax, lamdlords license, corporation tax...combine that with millions of renters that have no intention of paying...where is the incentive? Purchase, refurb and sell . Screw renters
Lets end all new buy to lets especially in London. It really does not work anyhow financially and structurally on a forward looking basis. Good to see this come to an end.
Why should landlords suffer with Tenants not paying rent
We pay tax on income we earn from Tenants
We have worked hard not taking any time off no holidays but for tenants to live free and then damage the property when they leave
Landlords, like tenants, aren't all the same; e.g. rogue. Some tenants are great and give no issues, same with landlords. What really needs to happen is that those landlords that continually fail at providing good, safe, clean and infestation free housing should be punished; not all landlords be branded as dodge by the govt. Bit like when they brought in the IR35 rubbish as they're claiming all contractors are on the fiddle when in fact their own govt people were claiming monies that wasn't theirs to begin with and having more than one job and not paying the appropriate tax or having a private company and a limited company and not paying any corp tax...the govt needs to empower councils to do their job, not just say, by law, you have to give more tenants rights. Remember, the tenant doesn't own the house and this is a service provided by the landlord...to provide a house to rent and live in...if you're a bad tenant, get out. If you're a bad landlord, fix up, or be fined. Simple. And if the landlord wants or needs to move back into the property or wants to sell up, there should be no delays in doing so, BUT adequate time should be given to the tenant within which to find a new property...this isn't hard, they just feel they, the govt, need to be seen to do something about the housing crisis/ tenants rights when they created all this in the first place. The landlord bought the house. Not the tenant. Sometimes the furnishings are in the property, and these are damaged by poor tenants...they should replace them or it be taken out of the deposit ( not always the case ). If the house is in need of repair, the landlord should take adequate steps to remediate asap; then there are no issues with the relationship between the two...this needs to be harmonious. Communication is key and the landlord needs to know his investment is making money AND being looked after, not trashed. And the tenant needs to know that when they ask for something to be repaired, this is done. End of. No excuses or delays, and be done to a decent/ high standard.
Great video 👍🏽
Can't you simply state to the tenant that you wish to sell your property, or would it have to be sold with a sitting tenant?
What about claiming you need the property for a relative to live in?
There must be some circumstances in which the landlord can regain vacant possession, surely.
The government should start building on farmland bought at agricultural prices, for rental only, at long term cost + prices. Currently, the banks, landlords, landowners and developers are ripping us off. Homes should not be a source of billion of pounds of year in. year out. We should be paying for skilled people to build good, generously sized, with storage, garages, not be ripped off by, developers and council planners.
Does not matter what the Government says, under UK Common Law no Government has power over you or your property !!!
There is no housing crisis only landlords creating a false scarcity. The ratio of houses per capita hasn't changed in the last 50yrs
What will happen with the new open ended tenancies as regards to rent increases? How and when can I increase the rent.?
This reform is rubbish. Landlords will have to increase rental prices to balance the risk, or move into lodger's agreements. Remember all the financial risk is on the owner. You don't mess with that. Sone of this stuff might make sense for rental companies that operate at scale, but individuals won't put up with this crap.
It's surprising to see landlords taking such drastic measures. I wonder what's causing it.
I think it might be related to the broader economic uncertainties. With the fluctuating job market and remote work trends, people might be reconsidering their living situations, and landlords are adjusting to the new demand.
There needs to be rent caps, renting costs has become well out of control!!!
I was recently given a no-fault I had been in my property for five years. Never missed a rent payment and had a glowing reference from the landlord and then I ran into a problem with the estate agents due to ill health. I am unemployed and my wife supports me from abroad as she works overseas and as our money comes from abroad no estate agent will rent to me without at least paying six months rent upfront which is beyond our means, in a costa living crisis and it is so serious. I am now leaving the country on Monday to go and be with my wife in Hong Kong I am so angry with the system and this is why there are so many people on the street estate agents have far too much power they decide who gets a property at the end of the day and it does not matter if you have a perfect record of paying your rent and a glowing reference from your landlord. It is as useful as toilet paper.
Best of luck 🤞 to you mate❤❤❤
Am personally thinking of leaving this hell hole of an island myself.
Won't miss it that's for sure, guess we won't be the only ones to leave it for good and seek happiness elsewhere! 😊
Landlords in London are acting like slavers, with tenants handing over 60-70% of their income for rents that are three to four times the landlords' mortgage payments.
WHAT ABOUT TENANTS GUIDED TO BANKRUPT LANDLORD AND REWARDED VI A ''THE PETER PRINCIPLE''
A WEALTHY LANDLORD LIQUIDATED BY BAD TENANTS WHO NVEER WANTED TO BE BAD
Landlords are smart, if there’s isn’t a reason to evict the tenants they will make one up if they want to end the tenancy. I don’t think Shelter have thought this through.
But the eviction would be scrutinised in court and the landlord discovered to be lying. In Scotland since the 2016 Act, there are only certain specified criteria by which landlords can move for eviction. Likely this Bill will have similar provisions.
Too many bad landlords and bad tenants here... they make worse for all others
So tenenats ready to pay more for the rent . There will be less landlords in market.
Government is not going to pay the loss of income.
Watch the number of properties available for rent to go down. Which will push prices up. Supply and demand.
If a tenant has done something wrong under the terms of the agreement then follow the eviction rules. The whole point of Section 21 seems to be to allow a fast-track bypass of the standard eviction rules and that is intellectually dishonest and seedy AF and any landlord going down that path deserves contempt.
All new tenancitwill be protected from next year? The court system wont be sorted by then so how does that help? Seems crazy.
Save, God, all of us from the kindness of our government.
Investing in houses is wasted money now.
If you are an expat landlord with no plans to return to the uk, the 2025 tax domicile rules probably make it doubly worth cashing out
I had a property and the tenant stopped paying the rent so I called the services of the local debt enforcer job done he was out the same day and no repercussions because he was scared to death happy days 😂😂😂
How ??