Demand Outstrips Supply : 'Rents Go Through The Roof As Landlords Sell Up'

[rogets]

At university we did a 6 month study to find out how raising rents or mortgages would impact people.

 

So let us assume the rents have increased from £300 to £1400 per month in the space of 6 weeks.

 

The person who earns £500 per month will struggle to come with that increase far more than another person who earns £4500 per month, and we found that the person who earns £500 is more likely to go into debt

 

And the reason for this is that the person who earns £4500 per month  will still have a spare £3100 per month after paying rents, so therefore will not go into debt.  However we found the person who earns £500 will be in debt to rent by £900 per month

 

So in 4 months, the £500 person will be arreas by £3600 , the £4500 per month person will be credit by £12000

 

We discovered that the higher the rents, the more it impacts on lowest paid workers, higher paid workers are better able to absorb increases is daily costs.  So we recommend that the person on £500 per month works harder, or does more hours

 

 

[Chekhov]

On 19/06/2023 at 17:26, Jeffrey Shaw said:

If an RTB landlord sells-up, the total number of houses and flats alters not one jot.

But the total number of houses and flats for rent does and therefore rents go up.

 

Not everyone wants to buy or can buy.

Edited June 27, 2023 by Chekhov

[Guest]

54 minutes ago, Chekhov said:

But the total number of houses and flats for rent does and therefore rents go up.

 

Not everyone wants to buy or can buy.

Jeffrey Shaw said:          If an RTB landlord sells-up, the total number of houses and flats alters not one jot.

 

Correct,  it still leaves the same number of houses.

Anyone buying and deciding to live in it,   will then free up the property,  where they were previously  living / renting.

The number of house cannot change unless they are demolished.

 

[El Cid]

On 19/06/2023 at 17:26, Jeffrey Shaw said:

If an RTB landlord sells-up, the total number of houses and flats alters not one jot.

When I see on TV foreign workers living in unsafe and crowded conditions, twenty people in one house. The council close them down, where do they all go to live?

Are these landlords providing a service or taking advantage?

Should there be cheap housing, where it's just a bed, needed on some cities?

[Chekhov]

2 hours ago, Organgrinder said:

Jeffrey Shaw said:          If an RTB landlord sells-up, the total number of houses and flats alters not one jot.

Correct,  it still leaves the same number of houses.

Anyone buying and deciding to live in it,   will then free up the property,  where they were previously  living / renting.

The number of house cannot change unless they are demolished.

That is irrelevant if someone wants to, or has to, rent.

If you are so sure it matters not how many houses are available to rent, why not put up the tax on property income to 100%. Most Labour types seem to think you cannot tax too much (or regulate too much), it has no negative effect on anyone.

 

36 minutes ago, El Cid said:

When I see on TV foreign workers living in unsafe and crowded conditions, twenty people in one house. The council close them down, where do they all go to live?

Are these landlords providing a service or taking advantage?

Should there be cheap housing, where it's just a bed, needed on some cities?

I have often thought this.

I lived in a bedsit when I was a Uni, and I did that because it was cheap. We'll skirt over the fact that most students these days would turn their nose up at such basic accommodation (and then moan about how much their time at Uni is costing them...) and concentrate on the fact that some people want to spend as little as possible on their rent. In a free market  who are the government to say "no you cannot do that, we are telling you (or more accurately the landlords) you must have X, Y & Z (and pay for it)".

Edited June 27, 2023 by Chekhov

[Chekhov]

 

More madness :

 

Protect tenants from eviction for six years after EPC improvements – call

https://www.property118.com/protect-tenants-from-eviction-for-six-years-after-epc-improvements-call/

 

Are they deliberately trying to put people off becoming landlords ?

[cressida]

If the tenants are on benefits then their rental costs should go through the DSS that would get rid of the non-payment issues,   then if the landlord is not making repairs the government should reduce the rental amount until the repairs have been done.

 

I agree with Chekhov that there will be fewer landlords if they don't get paid and if tenants ruin the accommodation.

[crookesey]

It shocks and amazes me that some folk consider it normal practice to fail paying the agreed rent and proceed to wreck what should be their home. Not for me this landlord business, even though I can afford to do so.

[cuttsie]

13 minutes ago, crookesey said:

It shocks and amazes me that some folk consider it normal practice to fail paying the agreed rent and proceed to wreck what should be their home. Not for me this landlord business, even though I can afford to do so.

It amazes me that these multi occupant landlords are allowed to rent a poky little room with a sink in the corner and gas geaser for a couple of hundred quid a week , they are usererers , preying on poor people as well as some who are mentaly  ill .

The people who rent out  these places are the dregs of society but are often looked up to by the bar flies in the local posh pub .

Edited August 13, 2023 by cuttsie

[crookesey]

Just now, cuttsie said:

It amazes me that these multi occupant landlords are allowed to rent a poky little room with a sink in the corner and gas geaser for a couple of hundred quid a week , they are usererers , preying on poor people as well as some who are mentaly  ill .

The people who rent put these places are the dregs of society but are often looked up to by the bar flies in the local posh pub .

By labelling all landlords as ‘Rackmans’ you don’t appear to have any interest in folk that do the job properly, or to experience nice well run pubs, keep the red flag flying.