They've hammered landlords for years and still seem intent on doing the same. You can push people so far but us landlords have had enough. I've sold 4 properties and have one left. When the tenant leaves I'm selling that as well. The council can take up the slack...
Recently saw a good documentary about the USA where corporations have bought off trailer park sites & the rents trailer owners have rocketed so much, but can't get out of the situation easily due to owning the trailer & cost of relocating to trailer parks owned by private individuals is too much or too difficult. But it's a good example of the ridiculous rates that rents can rocket once corporations take over housing. The tenants also had serious problems getting basic issues like the water supply being resolved due to dealing with a large faceless organisation rather than an individual private landlord! I anticipate the same kind of issues will arise with rents in property belonging to corporations, especially if they have a monopoly.
Yes. In marketing terms it’s called ‘top slicing’ BTR will be targeting dual income no kids couples (and flat sharers) in high demand city and town centres where there are lots of well paid jobs to pay sky high rents. BTR companies have no interest in social housing so the taxpayer will be paying for them. Many local authorities rely on the PRS to cover their social housing needs and the benefits system to meet the gap between low earnings and high rents. As others have said, it takes years to get big building projects approved/built/let. BTR will never fill the gap left by landlords exiting the sector with low income families being evicted as rental properties are sold off because small landlords are being squeezed out.
Great work Danny. The public just don't get it. I like a number of landlords am heavily leveraged and have a low income as I only have pension income. I have to sell properties just to add capital to other properties. Standard variable is the killer because it's 9.29% with virgin currently. I could remortgage and will do so on some but I have to commit to 2 or 3 years just to get a 5 or 6% rate. My sell off will continue because if tenants don't care or understand, neither will the politicians.
I think something else that is effecting it is the agents getting more and more greedy, mine has tried to sneak in termination fees of more than double tenant finding fee’s
Great video. Very simply if the government has not yet realised that additional costs on landlords results in rent rises they are stupid! Every single time it is the tenant who pays in the long term or the landlord leaves the market! Most landlords not incorporated will have increased rents to cover the additional tax by now, the same will go for the EPC costs.
Govt wants small LL out of the PRS. The ONLY problem is that Govt hasn't yet worked out that there aren't any replacement housing solutions. BTR would take about 50 years to replace all the small LL. So where will tenants live in the meantime!?
