Renters' Rights Bill - Will it screw me over?

poseidon1

Section62 said:

ReadySteadyPop said:

caprikid1 said:

"If that is the case loads of landlords will be going out of business in the coming years, this means more housing supply so a good thing really. "

Sorry am I missing something ? I appreciate you are constantly trying to push a single narrative.

How can Landlords going out of business increase the supply of property ? Do houses suddenly breed or get turned into Flats ?

Landlords are exiting the market , new landlords are not coming in, if Landlords going bust was a good thing why are rents soaring ?

All the reforms and changes are a renters nightmare, the supply of rental accommodation is decreasing, not everyone wants to own or can afford to own.

You are saying that landlords who stop being landlords keep all their properties?

No, they were saying that your claim "...landlords will be going out of business in the coming years, this means more housing supply..." is wrong.  "Housing supply" means the total availability of houses. A landlord owning one property 'going out of business' means there is one property up for sale - either to an owner occupier or another landlord.

The one property doesn't become two, 1 is still 1.  The housing supply doesn't change for the better or worse.

Landlords selling up could mean more houses for owner-occupiers to buy, but only if other landlords don't purchase them.  Personally I expect the rental market will shift from individual landlords over to company landlords - we'll see a shift from people investing directly in rental property over to investing in companies owning property.  Some might feel a more commercial (less amateur) approach in the rental market will be a good thing.  I'm not one of them.

Have to agree that corporate landlords operating a commercial residential portfolio does not necessarily convert to a better 'fairer' deal for tenants. The corporate 'build to rent' is expanding rapidly, but corporations can be just as greedy and mendacious as the worse aspect of the private small landlord sector, just on a different scale.

As an example see below link to a particularly egregious example in Deptford South London a few weeks ago where the corporate landlord took advantage of ' no fault ' eviction laws to evict an entire building of over 150 residents. 

https://www.bbc.co.uk/news/articles/cy8ykm23lrko

You can gurantee that once the so called ' multi million'  refurbishment programme  is complete the corporate landlord will be seeking substantially higher rents thereafter. Not good PR for the corporate residential sector, but starkly reinforces the precarious position of renters in the UK.

Olinda99

eltisley98 said:

Just curious about this: are fixed-term rental agreements banned? If so the tenant can move out anytime they want with the landlord bearing the loss of rent? I mean the tenant can (knowingly cheat and) promise that you will rent for a year to secure the rental, but then leave after a month?

yes true - but two months ie they can give 2 months notice the day they move in even if they said they planned to stay eg a year. There is nothing the landlord can do.about it.

ReadySteadyPop

https://www.propertyreporter.co.uk/london-sees-rents-decline-for-the-fourth-consecutive-quarter.html

" this cooling in the market, coupled with the traditional January increase in supply as cash-strapped homeowners take in lodgers, will give renters some confidence that the market is slowly but surely turning itself around.”

I think lodgers will be more permanent this year as debt costs rise.

https://www.propertyreporter.co.uk/tenant-demand-for-rental-properties-slumps-in-q4.html

"Now that a new year is underway, we expect demand will once again start to climb and as tenants look to make their move.”

Wonder where all the tenants are living at the moment?

They also say the "dust has to settle on the Christmas period" before tenants "make their move", wonder where they are living as the dust settles? This Christmas had really bad retail figures, it was definitely a blink and you miss it event.

ReadySteadyPop

poseidon1 said:

Section62 said:

ReadySteadyPop said:

caprikid1 said:

"If that is the case loads of landlords will be going out of business in the coming years, this means more housing supply so a good thing really. "

Sorry am I missing something ? I appreciate you are constantly trying to push a single narrative.

How can Landlords going out of business increase the supply of property ? Do houses suddenly breed or get turned into Flats ?

Landlords are exiting the market , new landlords are not coming in, if Landlords going bust was a good thing why are rents soaring ?

All the reforms and changes are a renters nightmare, the supply of rental accommodation is decreasing, not everyone wants to own or can afford to own.

You are saying that landlords who stop being landlords keep all their properties?

No, they were saying that your claim "...landlords will be going out of business in the coming years, this means more housing supply..." is wrong.  "Housing supply" means the total availability of houses. A landlord owning one property 'going out of business' means there is one property up for sale - either to an owner occupier or another landlord.

The one property doesn't become two, 1 is still 1.  The housing supply doesn't change for the better or worse.

Landlords selling up could mean more houses for owner-occupiers to buy, but only if other landlords don't purchase them.  Personally I expect the rental market will shift from individual landlords over to company landlords - we'll see a shift from people investing directly in rental property over to investing in companies owning property.  Some might feel a more commercial (less amateur) approach in the rental market will be a good thing.  I'm not one of them.

Have to agree that corporate landlords operating a commercial residential portfolio does not necessarily convert to a better 'fairer' deal for tenants. The corporate 'build to rent' is expanding rapidly, but corporations can be just as greedy and mendacious as the worse aspect of the private small landlord sector, just on a different scale.

As an example see below link to a particularly egregious example in Deptford South London a few weeks ago where the corporate landlord took advantage of ' no fault ' eviction laws to evict an entire building of over 150 residents. 

https://www.bbc.co.uk/news/articles/cy8ykm23lrko

You can gurantee that once the so called ' multi million'  refurbishment programme  is complete the corporate landlord will be seeking substantially higher rents thereafter. Not good PR for the corporate residential sector, but starkly reinforces the precarious position of renters in the UK.

They did that with commercial property, but all they got were 50 - 80% losses?

PacketofCrisps

Olinda99 said:

PacketofCrisps said:

So let me get this straight, I understand that this amendment to the renters bill makes it illegal for landlords/agencies to demand more than 1 months rent but does it also make it illegal for a renter like myself to offer to pay say 6 months rent up front? 

 

Illegal for a landlord to accept your offer, not illegal.for you to make it

"Once enacted, the Renters’ Rights Bill will amend the Tenant Fees Act 2019 to prohibit landlords or letting agents from requiring or accepting any payment of rent in advance of the tenancy being entered into. "

That's me buggered then, can't believe that, I'm a low income earner and being able to pay upfront gives me a chance to get a rental property, now landlords will only accept higher earning tenants, this does nothing to help the poorer tenants that are sensible with money. 

caprikid1

PacketofCrisps said:

Olinda99 said:

PacketofCrisps said:

So let me get this straight, I understand that this amendment to the renters bill makes it illegal for landlords/agencies to demand more than 1 months rent but does it also make it illegal for a renter like myself to offer to pay say 6 months rent up front? 

 

Illegal for a landlord to accept your offer, not illegal.for you to make it

"Once enacted, the Renters’ Rights Bill will amend the Tenant Fees Act 2019 to prohibit landlords or letting agents from requiring or accepting any payment of rent in advance of the tenancy being entered into. "

That's me buggered then, can't believe that, I'm a low income earner and being able to pay upfront gives me a chance to get a rental property, now landlords will only accept higher earning tenants, this does nothing to help the poorer tenants that are sensible with money. 

The problem with a lot of the recent legislation its advised and driven by Shelter who fight for Renters rights which is all very admirable but it's just increasing rents and reducing supply so not actually helping the people it was intending to help, Renting a house or a flat by yourself is rapidly heading out of reach for many. I've not seen yields so high in 20 years and still landlords are exiting.

[Deleted User]

caprikid1 said:

PacketofCrisps said:

Olinda99 said:

PacketofCrisps said:

So let me get this straight, I understand that this amendment to the renters bill makes it illegal for landlords/agencies to demand more than 1 months rent but does it also make it illegal for a renter like myself to offer to pay say 6 months rent up front? 

 

Illegal for a landlord to accept your offer, not illegal.for you to make it

"Once enacted, the Renters’ Rights Bill will amend the Tenant Fees Act 2019 to prohibit landlords or letting agents from requiring or accepting any payment of rent in advance of the tenancy being entered into. "

That's me buggered then, can't believe that, I'm a low income earner and being able to pay upfront gives me a chance to get a rental property, now landlords will only accept higher earning tenants, this does nothing to help the poorer tenants that are sensible with money. 

The problem with a lot of the recent legislation its advised and driven by Shelter who fight for Renters rights which is all very admirable but it's just increasing rents and reducing supply so not actually helping the people it was intending to help, Renting a house or a flat by yourself is rapidly heading out of reach for many. I've not seen yields so high in 20 years and still landlords are exiting.

Regrettably the people being listened to are happy for tenants to be collateral damage, with priority number 1 being to penalise landlords in some way. Folk like Polly Neate get to consolidate their status with anti landlord policy positions, and it's tenants who end up paying more. After all, Increased tax and regulation Increases the cost to the end user.

Of the 20 tenants I rented to as a landlord.  only 1 paid 6 months up front as they had no uk credit records. It wasn't something i demanded. It was akin to paying car insurance up front instead of in installments. By the end, I had the same total rental income in accordance with the contract. No odds to me.

ReadySteadyPop

caprikid1 said:

"Nothing more real than walking the streets and seeing all the signs"

Because agents never have boards out on properties not for sale or rent, strong statistics to work with.

I'll stick with facts, but that seems to be a challenge for you to magic up.

You are saying that agents put To Let boards up outside tenanted properties?

FlorayG

PacketofCrisps said:

Olinda99 said:

PacketofCrisps said:

So let me get this straight, I understand that this amendment to the renters bill makes it illegal for landlords/agencies to demand more than 1 months rent but does it also make it illegal for a renter like myself to offer to pay say 6 months rent up front? 

 

Illegal for a landlord to accept your offer, not illegal.for you to make it

"Once enacted, the Renters’ Rights Bill will amend the Tenant Fees Act 2019 to prohibit landlords or letting agents from requiring or accepting any payment of rent in advance of the tenancy being entered into. "

That's me buggered then, can't believe that, I'm a low income earner and being able to pay upfront gives me a chance to get a rental property, now landlords will only accept higher earning tenants, this does nothing to help the poorer tenants that are sensible with money. 

Yep, if you go back to the original post that's the OP's worry. If a tenant doesn't have a decent payment history or can't pass the affordability checks or is foreign no landlord will be willing to consider them. I cannot at all see how this helps either party

caprikid1

"You are saying that agents put To Let boards up outside tenanted properties?"

Yes 100% its about raising profile / advertising. On large blocks of flats they work on theory on a busy road they can get the enquiry and divert it to another property.

You really know little about the property market.

ReadySteadyPop , successfully predicted 105 property crashes of the last 2.