Landlords - are you selling up or will do when your tenants leave?

mlz1413

UnsureAboutthis said:

As above.
Also is you don't mind, just say what area of UK you live
in to give it greater context.

Will you, have you put up rents this year and if so by what percentage 
and was the amount less than last year/etc.

These new rules which 101% favour the tenants, when do you expect them to
become the law. In my view, it may be around mid 2026.

someone we know who has at least 20 rentals in se London is now selling
up when his tenants leave. A reletative is also thinking the same way. 
They don't want to take the risk of getting new people in and they trash the
place and leave 2/3 months later or even decent teannts leaving after a few
months as the time/effort/costs to find new lot, decor/risks etc
is not worth it

In your opinion, will the above stance by some Landlords push up rents?

I'm in Bedfordshire, rental market has been cut throat for renters since covid.   10+ want to view within hours of a new listing. Property goes within 1 to 2 days.

But I will probably sell the flat I bought 20 years ago ( when the government wanted everyone to have a B2L as their pension fund.)

Everyone seems to think a LL is scum of the earth, that we let tenants live in black mouldy flats as seen on the news. 

Owning a flat means I am at the mercy of other owners / tenants dumping rubbish and the Managing Agents being useless.

Add on the latest rules that favour tenants and I will probably sell up in the new year. 

Sad as I had absolutely no intention of selling ever.  

I also renovated the place 2 years ago with the intention of keeping it.  But these new rules just make the risk of losing money too high.

With all the LLs who intend to leave push up rents? yes!  
But is the higher rent worth the risk of paying out for a tenant claiming mould, or just not paying because the rules favour them.  No, not in my opinion. 

UnsureAboutthis

mlz1413 said:

UnsureAboutthis said:

As above.
Also is you don't mind, just say what area of UK you live
in to give it greater context.

Will you, have you put up rents this year and if so by what percentage 
and was the amount less than last year/etc.

These new rules which 101% favour the tenants, when do you expect them to
become the law. In my view, it may be around mid 2026.

someone we know who has at least 20 rentals in se London is now selling
up when his tenants leave. A reletative is also thinking the same way. 
They don't want to take the risk of getting new people in and they trash the
place and leave 2/3 months later or even decent teannts leaving after a few
months as the time/effort/costs to find new lot, decor/risks etc
is not worth it

In your opinion, will the above stance by some Landlords push up rents?

I'm in Bedfordshire, rental market has been cut throat for renters since covid.   10+ want to view within hours of a new listing. Property goes within 1 to 2 days.

But I will probably sell the flat I bought 20 years ago ( when the government wanted everyone to have a B2L as their pension fund.)

Everyone seems to think a LL is scum of the earth, that we let tenants live in black mouldy flats as seen on the news. 

Owning a flat means I am at the mercy of other owners / tenants dumping rubbish and the Managing Agents being useless.

Add on the latest rules that favour tenants and I will probably sell up in the new year. 

Sad as I had absolutely no intention of selling ever.  

I also renovated the place 2 years ago with the intention of keeping it.  But these new rules just make the risk of losing money too high.

With all the LLs who intend to leave push up rents? yes!  
But is the higher rent worth the risk of paying out for a tenant claiming mould, or just not paying because the rules favour them.  No, not in my opinion. 

I agree with everything you have posted.
I don't know why the government can't see this, ie, LL's
selling up, fewer rentals on the market, then rents go higher.

I've asked before, they've had these type of rules for a couple of years, if not longer. What was the impact
, have rents increased because there are fewer rentals?

SarahB16

UnsureAboutthis said:

mlz1413 said:

UnsureAboutthis said:

As above.
Also is you don't mind, just say what area of UK you live
in to give it greater context.

Will you, have you put up rents this year and if so by what percentage 
and was the amount less than last year/etc.

These new rules which 101% favour the tenants, when do you expect them to
become the law. In my view, it may be around mid 2026.

someone we know who has at least 20 rentals in se London is now selling
up when his tenants leave. A reletative is also thinking the same way. 
They don't want to take the risk of getting new people in and they trash the
place and leave 2/3 months later or even decent teannts leaving after a few
months as the time/effort/costs to find new lot, decor/risks etc
is not worth it

In your opinion, will the above stance by some Landlords push up rents?

I'm in Bedfordshire, rental market has been cut throat for renters since covid.   10+ want to view within hours of a new listing. Property goes within 1 to 2 days.

But I will probably sell the flat I bought 20 years ago ( when the government wanted everyone to have a B2L as their pension fund.)

Everyone seems to think a LL is scum of the earth, that we let tenants live in black mouldy flats as seen on the news. 

Owning a flat means I am at the mercy of other owners / tenants dumping rubbish and the Managing Agents being useless.

Add on the latest rules that favour tenants and I will probably sell up in the new year. 

Sad as I had absolutely no intention of selling ever.  

I also renovated the place 2 years ago with the intention of keeping it.  But these new rules just make the risk of losing money too high.

With all the LLs who intend to leave push up rents? yes!  
But is the higher rent worth the risk of paying out for a tenant claiming mould, or just not paying because the rules favour them.  No, not in my opinion. 

I agree with everything you have posted.
I don't know why the government can't see this, ie, LL's
selling up, fewer rentals on the market, then rents go higher.

I've asked before, they've had these type of rules for a couple of years, if not longer. What was the impact
, have rents increased because there are fewer rentals?

Everyone seems to think a LL is scum of the earth

What people see is that homes are like a scarce resource yet we all wish to live in a lovely, warm home and probably, in time, a home that we own.  Some people owning more than one home means that is one fewer or more homes that are on the market for somebody to buy. The economics of supply and demand is the fewer homes there are to buy the higher the price (in a simplistic way) and this pushes up the price and more and more people are priced out of home ownership.  

I don't know why the government can't see this

What I think the government sees is people living in homes that are rated EPC C and below and that are difficult to heat and they would like to improve the rental market for prospective tenants.  They see tenants tied in for 12 month contracts  and would rather tenants be able to give a month's notice. I don't disagree I do believe the government is trying to discourage people from being landlords as they would rather that home be on the market for somebody to buy and people being free to move to wherever the job is and also having security with their tenancy.  Regarding that prospective tenant that is looking for somewhere to rent I think they would rather direct them to a relatively new block of EPC A or B rated flats or new home where energy bills are considerably lower and there is no mould in the home.   

Nobody wishes anybody in retirement to still to be renting privately but unfortunately this is becoming more and more common.  It really is in everybody's interests if people can afford to buy somewhere of their own.  There will always be some people, for whatever reason that can't, and the Social and Affordable Housing Programme (SAHP 2026-2036) will mean there will be more new social and affordable homes built too. 

silvercar

“  people being free to move to wherever the job is ”

There will always be a demand for rentals as it is far easier to move by giving notice on a rental than to sell up.

There will always be people who won’t ever buy. 

ReadySteadyPop

silvercar said:

“  people being free to move to wherever the job is ”

There will always be a demand for rentals as it is far easier to move by giving notice on a rental than to sell up.

There will always be people who won’t ever buy. 

Yep, and there will always be landlords willing to stay in the game, we have been hearing about the "Great Landlord Exodus" for years now, it is like "Massive Housebuilding Program Needed!" or "NHS On Brink of Collapse!" Just never going to happen, who would recent landlords sell to anyway, they are not going to get anything like the over-inflated prices they paid?