Renting property

Discussion in 'Coffee Shop' started by andyBeaker, Apr 15, 2019.

  1. andyBeaker

    andyBeaker Moderator Staff Member Moderator Club Sponsor

    another ill thought out idea that will have the effect of pushing rents up and reducing supply of rental properties over time.

    When are these cretins going to understand that there are such things as good landlords and good tenants??

    When will they understand that a lot of people choose to rent rather than buy, quite often as a result of employment arrangements.

    The regulations are all being written on the basis that every landlord is a bad landlord rather than targeting bad landlords specifically.

    https://www.bbc.co.uk/news/uk-47927706
     
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  2. Lee337

    Lee337 Confused Poster Club Sponsor

    On two occasions, I was evicted at short notice when my tenancy agreement came to an end. On both occasions I was dealing with a letting agency who gave no indication the agreement wouldn't be renewed. On both occasions my deposit was withheld (prior to the introduction of the scheme which makes that practice more difficult) and on both occasions, I was in contact with the new tenants who were paying substantially more rent than I was.

    In my experience something does need to be done. I'm not suggesting that all landlords/tenants are bad, being made homeless twice in the space of three years is not fun.
     
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  3. slim63

    slim63 Never surrender Club Sponsor

    What this fails to recognise is that a large number of landlords only own a single property that they need to rent out, for example a couple that want to move in together may find themselves with a spare property that wont sell at a reasonable price so the sensible option is to rent it out to cover the mortgage, these folk may then be paying a mortgage on where they live & if anything goes wrong there then they will need vacant possession of the other place in order to be able to sell, depending on how the new laws are enforced this could lead to the situation of the landlords becoming homeless themselves

    Having said that I have been made homeless myself through no fault of my own & its not pleasant so think that a distinction needs to be made between bad landlords who are in it purely for profit & those that genuinely need to get on with their own lives by taking possession of their own property, no easy answers I'm afraid & I doubt this law will do much to change that :(
     
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  4. derek kelly

    derek kelly The Deli lama Club Sponsor

    Friends of our rented a house in Grimsby, after two trouble free years they were told the owners had decided to remain abroad & were selling the house, our friends bought the property, Steve was sent to Manchester to work supposedly for two years, they decided to rent out their house in Grimsby & rent a smaller property in Manchester, six months later the Manchester store was closed & Steve was told he could return to his previous position in Grimsby, he gave six months notice to the Grimsby tenants & he commuted from Manchester on a daily basis, six months later & the tenants had refused to move stating they had a verbal agreement for a two year tenancy, Steve tried to obtain an eviction order but when it all went to court Steve was asked if he had verbally agreed to a two year tenency he said “no” & informed the Judge that he told the tenants that he would be working in Manchester for two years but would review their tenancy every six months.
    The judge sided with the tenants who in turn to rub salt into the wounds vacated the property two months early & Steve was not allowed to move back in until the tenure was up.
     
  5. andyBeaker

    andyBeaker Moderator Staff Member Moderator Club Sponsor

    I have no idea if he used a letting agent...but if he didn't he should have.

    I would categorically not recommend anyone to let out a property without using an agent. Obviously there are good ones and bad ones, homework needs to be done.
     
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  6. ianrobbo1

    ianrobbo1 good looking AND modest Club Sponsor

    Letting agents can be as big a crook as some tenants and owners, there is a "new" law that stops landlords just booting the tenants out!! I thought that was already in place, so I must have been mistaken!!
     
  7. Ajeman

    Ajeman Old Hand Club Sponsor

    But what about strengthening the laws that allow landlords to evict bad tenants. By the time somebody has stopped paying rent, the landlord has been through the court process and finally has there house back it's usually cost them thousands and takes over 3 months. Some landlords just cant afford that and the tenant seems to just walk away with no consequence.
     
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  8. Me!

    Me! Utterly retired Club Sponsor

    Hmmm I don’t get renting.... dead money and never been a fan of that ! I guess if there’s a needs must then it’s a requirement. Family member of ours is paying 4K plus / month rent in London for a 4 bed semi. I’d lose sleep and I can’t afford to lose anymore !
     
  9. Oldandbald

    Oldandbald Been there, and had one Club Sponsor

    I can see further problems with this piece of idiocy. The Buy to Let lenders who have allowed private landlords to take up some of the woeful shortage of rented accommodation will be faced with a problem. Currently, if they take a property into possession they can use the section 21 notice to obtain vacant possession of the property quickly and easily in order that it can be marketed and sold. What will happen if they have to take possession under this new stupidity? If I'm reading this right they will be stuck with a property they can only market to somebody who actually wants a tenanted property. If the tenant has looked after the property and is up to date with the rent they cannot evict him/her. The lenders will end up having to manage tenanted properties and wait for tenants to issue their notice before they can sell them on. This means collecting the rent and offsetting it against the mortgage debt each month. I can't see the lenders getting involved in that.

    The net effect will be that lenders will pull out of this market - which isn't currently all that attractive to landlords anyway after our idiot Government decided to add a 3% stamp duty surcharge and piss about with the income tax rules. So even less decent quality housing available in the public sector which piles more misery on those looking to rent but can't because Maggie sold off all their council houses.
     
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  10. Squag1

    Squag1 Can't remember.... Club Sponsor

    Tell them to look at Irish model ......if they really want to screw up the rental market.
     
  11. andyBeaker

    andyBeaker Moderator Staff Member Moderator Club Sponsor

    Ian, look at the link in the original post....
     
  12. andyBeaker

    andyBeaker Moderator Staff Member Moderator Club Sponsor

    Many rent as their employment is transient. A lot of properties down here were let to the people who built the wind farm in the channel, probably 75%+ have now moved on to their next project. However, new roads for the ferry terminal and major investment in the town centre at Newhaven have brought a new influx of transient workers in.

    I have one tenant who could clearly afford to buy, just prefers to rent. No idea why. Which is fine by me!
     
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  13. johnboy

    johnboy rather fond of a cream bun Club Sponsor

    We've rented twice, both times because of house moves ie not wanting to miss out on a sale and not entirely sure which location to buy in again. We intend to rent our final place, selling up our current home when we can no longer cope here and see out our days renting and spending every last penny as we have no one to leave anything to.
     
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  14. Me!

    Me! Utterly retired Club Sponsor

    Me ?
     
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  15. johnboy

    johnboy rather fond of a cream bun Club Sponsor

    Sure, just need your credit card details and pin to make the transaction go smoothly :D
     
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