blindspot79.bsky.social
@blindspot79.bsky.social
Believe me, they are. Selling up at pace and not being replaced. You can see the consequences on Rightmove.
Again, not about feeling sorry for landlords, but it is leading to bad outcome for low paid and vulnerable renters being pushed to beds in sheds and shitty HMOs and filthy B&Bs.
January 18, 2025 at 2:06 PM
Rents have increased because supply has reduced and demand has not. S24 main reason.
RRA will only make that worse.
Wishful thinking does not make for good policy.
We need more social housing and actual enforcement of existing legislation, not measures that cause the decent landlords to quit
January 18, 2025 at 2:03 PM
It will be some combination of can bid the highest and seems to be most financially secure. You’ll just see asking rents jump up and people bidding below asking - but more than previously.
We clearly need change, but this is not the good kind. It will make life worse for those who need help most.
January 18, 2025 at 1:44 PM
where are the new rental properties coming from? What happens to renters when supply dwindles and demand doesn’t?
The well-paid professionals will be fine. It’s low income and vulnerable people pushed to sketchy HMOs, B&Bs and the like.
January 18, 2025 at 1:42 PM
What’s retaliation got to do with it? People are not rational, but they do respond to incentives & disincentives. S24 means that for most, BTL is at best marginal. Add in the RRA and it’s too risky for the average landlord. Fine, no sympathy if your biz model no longer works, but -
January 18, 2025 at 1:40 PM
No, that was one specific point on rent in advance. Commonly taken when a tenant can’t demonstrate sufficient income but does have access to cash. Without rent in advance, they will not get the tenancy.
January 18, 2025 at 1:33 PM
And it definitely will reduce available stock. Demand won’t reduce, as there is plenty of household formation and pent up demand. Nothing much by way of new supply. Sure, BTR, but have you seen those rents?? Means more rent increases and harder for low & medium income people to access PRS.
January 18, 2025 at 1:08 PM
More common than you think. Downsizing from a house that was affordable in 1958 but shot up in value. Moving to UK or back to UK from overseas.
Many landlords justifiably have terrible rep, but you have to focus on outcome. If this bill means reduction in available private rented stock, then what?
January 18, 2025 at 1:07 PM
As so often, well meaning legislation will have the opposite effect to that intended. What’s actually needed is enforcement of existing regs, and most importantly social/affordable housing for people who should be nowhere near the PRS and are vulnerable to slumlords
January 18, 2025 at 11:41 AM
No offers over asking means that all new tenancies will have a high asking and accept offers under.
That then sets the market rate, which will be used for periodic increases. This bill creates a rent escalator in areas with high demand and low supply - pretty much all of the SE and London
January 18, 2025 at 11:39 AM
I think you’re wrong on this. This bill will make it harder for vulnerable and low income tenants to secure private tenancies. Where will they go instead?
Ban on rent in advance means that if you have cash but no/low income you will not have that option - so no tenancy.
January 18, 2025 at 11:37 AM