Well I suppose LL need to not gear themselves up so much and it will therefore be the bigger and more professional landlords that will take up the lion share of the market.
To those “professionals” will go the lions share of their tenants wages. Ha.
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It comes down to tenant envy. They resent handing over rent to individual landlords yet happy to pay corporations for some senseless reason, as though this isn’t lining someone else’s pockets.
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I have often thought that Mark. You can tell by the tone of their comments . they have not made the effort or sacrifices to go down the route that we have carved out.
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Corporate landlords are not too happy about new legislation
They will have to deal with issues that affects profits
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And after over 40 years hard graft I’m hardly ‘geared up’ at all . Doesn’t change the situation regards market driven forces though.
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I am about the 40 years as well. I am sure all my “gear” is correct and in working order
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No envy - it’s just if you are going to keep pushing up rents as and when you please out of line with inflation then that’s what happens.
people’s rent payments are not there to pay for you own financial issues they are there to pay solely for renting your property at a real market value not a made up one by some unregulated referencing agencies and some right wing supposedly “regulating company” for estate agents.
Real market value is determined by the fail safe principle of supply and demand, as with all products.
As a businesses costs grossly exceed inflation, so this has a respective cost increase to the consumer. So yes rent is 100% to “resolve financial issues” as you put it.
What do you think happens with corporate landlords which you seem to think is a good thing?
As I said, it’s the personal aspect of renting from small private landlords tenants don’t like.
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Real market values is supply and demand. Also inflation led by outside forces (greedy governments) eg petrol in 1969 31 p a GALLON now £1.34 a LITRE. Joiners then earned £20 a week . I can now earn £1250 min a week. Portion of chips 2. and a half p in our money , now £1.80p Little wonder rents are higher
Can you please explain this further . I’m genuinely intrigued by this statement.
Well you should all know better because this is a what you and many letting agents are causing. Letting agents value and landlords add on another £200 a month……
So as long as you can live with yourselves and by keep saying you are aren’t a charity. No one is suggesting you should be charity’s but you need to be lifting the ridiculous affordability criteria and you need to be more open to individual circumstance -
I feel letting agents are the biggest cause here. They stir up between LL and T and cause bad relations as this aids their pockets.
800 000 net immigration might have something to do with it, along with the vast shortage of new builds and the sell off of social housing.
Those that offer RGI are actually regulated, by the FCA.
The affordability criteria is set solely by insurance companies who have the actual data that determines the number required to mitigate risk. They also are a business. Many landlords are open to individual circumstance.
Agents will push RGI, landlords cannot overturn the criteria if they want this service, and barriers being introduced by government will push more and more LL towards it. I agree that agents will often be the cause of conflict and will drive up prices consistently.
It’s the other way around the insurance companies only offer insurance to landlords if their tenant passes the referencing criteria from the referencing agencies. I called a number of landlords insurance firms and they told me this. It will be unlawful for referencing agencies and insurance companies to discriminate any longer once the RRB comes in as insurance firms are also being held to this. I have already contacted the FCA and reported Goodlord of which they were very very grateful and told me to contact my MP as they are the only ones who can make the changes.
I have spoken at length about this to my local MP and I have suggested they need to ensure Letting agents are properly regulated to support tenants and landlords and need to look into the “Affordability Criteria” and how it is implemented by agents - as lets face it ultimately its you as a landlord who is going to decided who you accept but if your agent advises you, you are more than likely to take their advice - it is concerning that so many really aren’t that bright (sorry) and can easily lose a good tenant for a landlord or a good rental for a tenant.
Some interesting facts below from the UK Parliament report on Housing insecurity in the private rented sector in England: drivers and impacts. from September 2024
"Commentators have suggested that rising costs for landlords, such as mortgage
interest rates, can prompt rent increases. However, the 2021 English Private
Landlords Survey found that 38% of landlords do not have mortgages and 9% cited
mortgage costs as influencing rent prices.70 Landlords cited changes in their local
rental market (72%), tenant demand (20%), or letting agent advice (34%) as factors
for changing rent prices.
So there you go Letting Agents are pushing up rental prices.
To not discriminate against what, income and affordability? No chance.
Hands off landlords will be led by agents, thats what they are paying them for. A good agent is in a position to base decisions on historical data and experience.
Self managing landlords are more likely to show discretion. Corporate agents - you can forget it, with a small independent you have far more chance.
This was pre mortgage rate hikes…which started in 2022.
we are wasting our time here . Many do not realise that Local Authorities sold off their stock years ago. at great discounts and transfered many to housing associations (check out how much rent is owed to H/A )
Local Authorities have stitched themselves up by selling and now blame the private sector. Only fools will not blame them…Letting agents will know what similar places have gone for in sales or rentals.
Yes Tories and never replaced them
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then they decided to pay housing allowance for those on benefit, direct to the tenant and not to the landlord .To “teach them how to manage their finances”. Guess what I then decided never to do?
If workmen want to charge £400 or more a day for repairs how do you expect landlords to freeze rents
I had a c2fault it cost £1k to repair after eicr fault find labour replace cable and replaster
Insulating the ground £10k
A rated windows £800 plus vat
How do expect all of this in rents prepandemic and legislation post pandemic
If the government wants to bring in stupid rules that’s fine
Money doesn’t grow on trees you have to pay for it
Keir wants energy efficient houses
But he flies in private jets the tax payers expense cos that’s not damaging the planet ……
Your MP is clothed by the rich . Do you think there is no returned favour ……
Tesco food inflation 30% not regulated by the government
Profits in the billions for the last quarter
Do you complain about faceless corporate fat cats …. No……
Why do we need to pay extortionate gas, electric water costs or internet costs
You pay it but don’t grumble to your MP that corporates are lining their suits with your cash
Go to your MP and complain about food costs internet costs , Keir taking private jets or putting his kids in multimillion pound penthouse for no favours ( yeah right ….),
Ask your MP who he gets his favours from . The whole system is corrupt . Angela Raynor sold her council house for a profit . Grumble at her . Grumble at utility CEO for million pound salaries while we have faeces in the water
Oh yes that’s right because they are out of reach
Everyone is corrupt and we should put a roof over your head because we are a charity
It’s a job and we have to work to earn a living
Go out get two or three jobs and see what hard graft is like
I did 114 hours as a PRHO for less money than the cleaner cleaning the ward
I locumed on weekends to pay for post grad exams and took no holidays until I paid my mortgage
I have done 60-80 hour weeks my whole life and am still doing it now
I worked every day over Christmas getting a house ready
Decorating and cleaning That’s what you pay for ……service …
I couldn’t afford £2-3 k for the decorator so I did it myself
No one gets off their bottom and works
Everyone wants it for free
Landlords are not made of money and some of us have multiple hats to subsidise your rental costs
I do viewings through to all management to keep costs down for the tenants thank you
Haven’t taken a salary in years in order to improve houses for tenants who are truly thankless entitled and rude
Two things my late father taught me
Judge ye not lest ye be judged
I cried for I had no shoes then I saw a man with no feet
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