Sick of this Nanny State

richyj

We are looking to rent out our family home. It is a beautiful home, and in great condition after being extended and fully renovated. In the current climate, I would imagine it to be worth approx 700k. Anyway, we are not looking to sell, but rent it out whilst we are abroad for a year or so...Looking to rent for 2.3k per month

I am sick and tired of the way the government is targeting landlords (yes I know there are some rogue landlords - which deserve to be punished, but not every landlord is bad)

In general, I am talking about...

Maximum Deposits - so I can only charge 6 weeks rent by law as a deposit ? Why am I not free to charge 5k or whatever I like. After all this is my property and worth a significant amount. I need to protect myself against the tenant damaging the property. Whats next the government is going to tell car hire firms how much deposit they are allowed to take when you rent a car ?

Protected Deposits... Deposits need to be protected in a government escrow account. I generally dont have an issue with this. Just hope if there is damages to the property that I dont have to jump through hoops to get what I am owed.

Cant charge Tenants other fee's than what they tell we can charge... so we cant charge for referencing, (I have to cover that), cant charge more than the costs for obtaining a duplicate key.... what about the time it takes for me to get a replacement key.... or get locks changed... who pays the bill... ? I feel like telling the tenant (off record) bring 40 quid round for the referencing, if you pass great... If you fail, you have lost 40 quid)

The government seem to be doing everything in their power to make letting a house less appealing to landlords. Why they cant let supply and demand regulate the industry. After all, if you cant afford to live in London, move to Milton Keynes or where you can afford - thats what my friends had to do to buy...

Yes, I agree there are scum landlords, but there are also scum tenants out there that we need to protect ourselves from.

No, I am not landlord with multiple properties... This is the only property I own. Even if I was, what does that matter anyway.... so I invested in property which shot up in price.... I gambled and I won. I could have gambled on the stock market and won also....



Anyway, I just though I would vent my anger - sick and tired of this Nanny State !

Doozergirl

You have a choice of whether to rent it out or not.

The 'nanny state' is attempting to address the issues facing people who cannot afford to get on the property ladder and are taken advantage of by landlords. Being a landlord is a business and it should be run professionally and fairly, first and foremost, like any other business, except this one involves people's welfare.

If people didn't take the proverbial, they wouldn't have had to introduce those rules.

You haven't given it a second thought from a tenant's perspective, only about your own. If you're not part of the solution, you're part of the problem.

Thankfully, I haven't had to rent much, being born at a time when I was able to buy a flat in London at the age of 22 on a 22 year old's salary. Some of us are privileged.

00ec25

so you will be moving to the USA, have a single property to let and, as pointed out above, have little or no ability to consider the other side of the coin.

You are exactly why the "nanny" state is necessary, it is to protect those without money from those who consider themselves entitled because they have a property (but apparently can't afford to leave it vacant whilst abroad).

Professional landlords would not be wailing like you are because all the issues you flag are part and parcel of their industry and they allowed for them.

Given you have been researching this topic since March 2019 it is great that you do at least now know what you to have do as a LL. Let us hope you have found an agent who is equally well informed and will treat your tenants with common decency.

anselld

Nanny says 5 weeks rent is the maximum deposit.
.... and you didn't even mention tax.

Tomg84

Nanny state or sensible proportionate regulation. I see it as the latter.

Markets without sensible regulation generally hurt the consumer in favour of the people with the power (in this case the landlord who hold your money, keys and security to the roof over your head)

Fosterdog

You see it as just a few bad apples but through life experience and regularly coming on these boards for several years gives overwhelming evidence that there are far more bad landlords than there are good ones. Hardly a day goes by without at least one tenant querying on here the legalities of things their landlords are doing/not doing with the majority being the landlord in the wrong, and less often but hardly a week goes by without a landlord asking for help because they clearly have no idea how to be a landlord, have already ignored several of their legal obligations and sulk when told that they need to step up their game. Then add to that the agents that are employed by the landlords who are more often than not just money grabbers with either no clue about renting regulations or they know full well what the regulations are but ignore them or twist them to their own purposes anyway.

With your attitude I really wouldn't recommend you actually become a landlord, you might have done more research than most into becoming one but it doesn't mean you are suitable to be one, I pity any future tenants you may end up with.

The government has had to step in and regulate things because there were just too many rogue landlords around who seem to forget they are running a business and should act as such. You wouldn't agree with other businesses being unregulated so why landlords? Why are they so special and why should they be exempt from meeting basic criteria when making an income?

csgohan4

Nanny state means no cake and eat for LL


You choose to be a LL and therefore abide by the legal and tax implications. If you want to complain, don't be a LL.


I chose not to be a LL if ever I was in the position of another property plain and simple, too many unknowns and eviction costs/void periods means it's not a risk free business plan

seashore22

You're probably wasting your breath everyone. 4 out of his 5 posts are threads that he has started and he hasn't returned to any of them.

I hope he feels better after his rant.

Also wish his tenants luck because I think they may need it.

Davesnave

You are fortunate to have a good income, an expensive property and the option to become an 'accidental landlord,' but the rules around that don't suit you and you've found it hard to grasp why those rules exist.

I'd suggest spending more time on this board, where those less fortunate come for help coping with the excesses of unprofessional landlords.

To most of us here, the reasons for the rules are self-evident, not just because we read case studies here, but also because we weren't born into privilege and had unhappy times renting.

Indeed, although we had many other options open to us when we last rented, it was an eye-opener to find that water coming through the roof was left unmended, other repairs weren't done, the inventory wasn't checked, the deposit wasn't protected, and when it was eventually returned, several weeks late, the agent's cheque bounced.

Our landlord was another of the 'accidental' variety and extremely lucky that a good property purchase made us uncharacteristically cheerful and forgiving. Like many others, he really needed these rules, just coming in at the time.....for his own protection too!

Sea_Shell

From what I've read on here, it's never a good idea to rent out a property that you have any emotional connection to, or may want to return to at a specific time.

You could come back to a trashed house, with a tenant who refuses to leave until a court issues eviction notices.

sgun

richyj wrote: »

We are looking to rent out our family home. It is a beautiful home, and in great condition after being extended and fully renovated. In the current climate, I would imagine it to be worth approx 700k. Anyway, we are not looking to sell, but rent it out whilst we are abroad for a year or so...Looking to rent for 2.3k per month Good, lucky you

I am sick and tired of the way the government is targeting landlords (yes I know there are some rogue landlords - which deserve to be punished, but not every landlord is bad)

In general, I am talking about...

Maximum Deposits - so I can only charge 6 weeks rent by law as a deposit ? Why am I not free to charge 5k or whatever I like. After all this is my property and worth a significant amount. I need to protect myself against the tenant damaging the property. Whats next the government is going to tell car hire firms how much deposit they are allowed to take when you rent a car ? so around £3,450, seems like enough to cover minor damages after a let

Protected Deposits... Deposits need to be protected in a government escrow account. I generally dont have an issue with this. Just hope if there is damages to the property that I dont have to jump through hoops to get it back No need to worry, the schemes are well run. I hope you will be complying with all the requirements in the correct timescales, after all this is your tenants money.

Cant charge Tenants other fee's than what they tell we can charge... so we cant charge for referencing, (I have to cover that) it has never cost me anything to reference a tenant ,

cant charge more than the costs for obtaining a duplicate key.... what about the time it takes for me to get a replacement key.... around 3 minutes when you are passing a key cutting place whilst shopping or on your lunch break?

or get locks changed... who pays the bill... ?the tenant if they have lost keys or damaged the lock or just want to during the duration of the tenancy. You, if you want to for some reason.

I feel like telling the tenant (off record) bring 40 quid round for the referencing, if you pass great... If you fail, you have lost 40 quid) yes, just do this. It is a great way to ensure that your tenants feel like you are a good landlord rather than one of those "scum" types

The government seem to be doing everything in their power to make letting a house less appealing to landlords. Why they cant let supply and demand regulate the industry. After all, if you cant afford to live in London, move to Milton Keynes or where you can afford - thats what my friends had to do to buy...your tenants will be able to afford to live in London,
indeed, in your actual house (how dare they?)

Yes, I agree there are scum landlords, but there are also scum tenants out there that we need to protect ourselves from. okaaaay

No, I am not landlord with multiple properties... This is the only property I own. Even if I was, what does that matter anyway.... so I invested in property which shot up in price.... I gambled and I won. I could have gambled on the stock market and won also.... do not rent out your property, you literally have no idea!



Anyway, I just though I would vent my anger - sick and tired of this Nanny State !

Hope this helps.