Milliband promises rent controls

ukcarper

antrobus wrote: »

I would agree on the basis that the current Labour proposal is so shot full of loopholes that it will basically be ignored by almost everybody.

I think even if they are not ignored I don't see a large exit from BTL.

IveSeenTheLight

ukcarper wrote: »

I've heard that before 3 year tenacies price increase no more than inflation for duration of contract, sounds reasonable to me.

This would cost my tenants more.
I only adjust my rates between tenancies, hence the tenants get 0% yearly increases.

chewmylegoff wrote: »

Sounds like landlords will just be jacking the rent up massively at the start of each new contract...

Yep, we adjust the rate to be market competitive between tenancies

ukcarper

IveSeenTheLight wrote: »

This would cost my tenants more.
I only adjust my rates between tenancies, hence the tenants get 0% yearly

The way I understand it you don't have to increase rents by CPI but I'm sure some landlords will.

IveSeenTheLight

ukcarper wrote: »

The way I understand it you don't have to increase rents by CPI but I'm sure some landlords will.

I agree, however it it becomes the norm and acceptable that all tenancies are increased by CPI or RPI (whatever the plan), then it essentially changes the marketplace and could drive rents up for all.

Why wouldn't I consider increasing the rates as per the government legilation if I (and my tenants) know the marketplace is also increasing the rates yearly?

ukcarper

IveSeenTheLight wrote: »

I agree, however it it becomes the norm and acceptable that all tenancies are increased by CPI or RPI (whatever the plan), then it essentially changes the marketplace and could drive rents up for all.

Why wouldn't I consider increasing the rates as per the government legilation if I (and my tenants) know the marketplace is also increasing the rates yearly?

Yes I can see that. I suppose it depends on what rental market is doing compared to CPI but I can't see rents falling anytime soon.

buglawton

Yes if this legislation comes to pass I will definitely change my letting policy from no in-tenancy increases to per-inflation annual increases. And I will explain exactly why to my tenants, even quoting the Act. It's simple protection of interests in an adverse situation.

cells

Generali wrote: »

http://www.bbc.co.uk/programmes/p02q1721

Tessa Jowell seems to have no idea about how her own policy will work.

Mr Neil: Will it be compulsory for tenants to have a 3 year tenancy
Ms Jowell: Not at all. It's just difficult for tenants to get longer tenancies
Mr Neil: What will prevent LLs from only accepting tenants that only want a shorter lease?
Ms Jowell: Well...uh, uh but but

She also claims that Ireland has the same policy that Labour are proposing. Mr Neil skewered her on that one too as they don't. She's not the only Labourite to use that lie either.

There wasn't a coherent response to the point that private rents have gone up by less than inflation over the last five years, social rents have gone up by more than private ones!

Poor performance from her

should have just said this was the start and they would investigation the rental sector and see if rent caps now nationwide or specifically in certain cities and towns was something that would benefit renters overall in the short medium and long term


also she should of said something like.....my personal view is, and this is not labor policy right now, is that there should be a maximum rent. A rent cap, in crude terms I think £1000 should be the max monthly rent in London and it should be less elsewhere. There would of course be some variation for example that might be the cap for 3 bedroom homes while two bedrooms would be less and four bedrooms more......

if she said that shed of got renters vote while committing nothing but her views on what she would like

cells

ukcarper wrote: »

Yes I can see that. I suppose it depends on what rental market is doing compared to CPI but I can't see rents falling anytime soon.

Rents are far more stable than prices as often renters have the ability (even if begrudgingly) to either live more dense or move back im woth family (or not move out in the first place)

so up or down rent moves will be slow

TickersPlaysPop

Why is the news and people in general debating only the detail of party pledges?

When a hung parliament is an almost certainty, it means coalitions will be an excuse to not deliver on pledges? Any of these details could be wiped out when the coalition is formed?

Should we not be given a vote on the new coalition manifesto when it is finally agreed?

padington

I wonder whether the irony of this period of political instability is that it might be really hard to pass laws at all, which might mean we have a period of considerable legal ... stability.