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

[Chekhov]

8 hours ago, hackey lad said:

And why should he have  electric safety check in his flats .

Because they are a money making scam, and the biggest waste of money in the UK economy. Do you know anything about this ? :

 

I got two quotes for the two EICRs I need, one at £145 each and one at £150 each.
I am pretty sure both electricians will want another £145 odd when they need re-inspecting in five years time, though, of course, there is no reason at all why these ridiculous inspections need doing every 5 years. It's just a big money making exercise combined with lashings of virtue signalling and excess risk aversion.
I did a back of the envelope calculation that EICR inspections (and that's just the inspections, not any work that is required) could cost over a quarter of a Billion pounds a year for all the rental properties in the UK. And if that money was instead put into the NHS it would save far far more lives than the odd few a year it might in fact save. EICR reports are a gargantuan waste of money.

But it doesn't even end at the cost of the inspections, they then recommend work that needs doing to pass the EICR, and that was £1200 thanks very much. The most expensive part was two new consumer units "because the existing ones aren't up to the latest regulations" (and the latter are a moving feast if ever there was one) due to the fact they do not have RCDs on them. Well the consumer unit on my own house isn't RCDed and I am intensely relaxed about it, because, and whisper this quietly, it's actually pretty difficult to get killed by mains (240V) electricity and I used to be a TV engineer so I do know a bit about it. It's funny how (just) fused consumer units were considered perfectly safe for nearly 100 years but now they are, apparently, dangerous ! It's BS.

Edited March 25, 2023 by Chekhov

[HeHasRisen]

Good to see the swearing from this thread has been deleted.

[Anna B]

14 hours ago, Chekhov said:

There was just an article on R4 about rents going through the roof and landlords selling up to get out of the rental market.

Interestingly that chimes in with the fact I had someone speculatively phone me the other day asking of the flats above my shop were rented and if one was available.

Landlords leaving the rental market and rents subsequently going through the roof ?

What a surprise, not.

I have been saying for years this was going to happen because being a landlord is a PITA. The balance of power between the tenant and the landlord has tilted far too far in the direction of the tenant*. And all the regulations are becoming an absolute nightmare, yearly gas safety checks, 5 yearly electrical condition reports (surely the biggest waste of money in the entire UK economy), expensive complicated deposit schemes (where it is extremely difficult for a landlord to get paid for any tenant damage, certainly for the full cost of it), "Energy performance certificates" (which are due to become even more onerous - maybe virtually impossible in some properties - in 2025/2028), and if you get a bad tenant life is an absolute nightmare. You really would not believe how long and how much money it costs to get them out.

I would never advise anyone to become a landlord, quite the opposite. The only reason I am one is my shop came with two flats.

 

* What is thoroughly amusing are Labour's plans. Aren't they thinking of making it even more difficult to get tenants out, maybe even impossible ?

And they want rented property MOTs !

Good idea (if you want even fewer landlords and even higher rents).

These people are economically illiterate, as well as thick as a brick.

You would think that with rents increasing (therefore higher yield,) Landlords would be hanging onto property and charging more.

The fact that they aren't, is indeed due to the extra burdens placed upon them by fairly stringent regulations and unreliable tenants unable to pay the high prices.

 

That should mean that house prices, (and rents) will fall, but they won't, because of the 'professional' Landlords with a large property portfolio, who are able to sustain the short term losses and PITA problems by being able to employ professional property managers etc. 

 

To be able to afford this, your income from property has to be considerable and your portfolio large. Enter the significantly wealthy, buying up cheap property to enhance their holdings, and excluding the 'Just to enhance my pension,' Landlords, and the first time buyers looking for a bargain they can afford to live in who will be gazumped by the professionals, thus upholding house prices and rents. 

 

Free Market Economics - winner takes all...  

Edited March 25, 2023 by Anna B

[Mr Bloke]

44 minutes ago, HeHasRisen said:

Good to see the swearing from this thread has been deleted.

Oh, rats!

[Chekhov]

8 hours ago, HeHasRisen said:

Good to see the swearing from this thread has been deleted.

1 - There hasn't been any swearing. There are words which could be taken as swearing if people wanted to.

Effin' is officially not swearing as David Cameron, then the PM, used it in the 2014 independence referendum.

 

2 - The trolling in forums, almost always from leftie virtue signallers, is far more unpleasant than any word which could be taken as a swear word or not. In fact, TBH, some of the trolling on forums, incl on here, is far worse than even unmasked swearing. For instance someone trying to imply a parent who wants a video of their child winning at a swimming gala is a paedo. That's far far worse. And even harder to take as the person responsible is, I think,  one of these virtue signaller types, as well as not being the parent, certainly not a parent of a child doing anything sporty that would be good enough to warrant videoing.......

Edited March 25, 2023 by Chekhov

[HeHasRisen]

1 minute ago, Chekhov said:

1 - There hasn't been any swearing. There are words which could be taken as swearing if people wanted to.

Effin' is officially not swearing as David Cameron, then the PM, used it in the 2014 independence referendum. 

You clearly missed the thread the other week where it was stated even putting stars isnt allowed. 

 

Above post reported.

Edited March 25, 2023 by HeHasRisen

[bassett one]

we need to build more homes and that includes council homes.wheres all the cash gone from the council home sales?

[steve68]

30 minutes ago, bassett one said:

we need to build more homes and that includes council homes.wheres all the cash gone from the council home sales?

Those cut prices sales were wrong, any funds made from them would be long gone by now.

Needs to be a crackdown on poorly maintained housing stock both private and council/housing association.

 

 

[Anna B]

57 minutes ago, bassett one said:

we need to build more homes and that includes council homes.wheres all the cash gone from the council home sales?

The cash went into The Conservative's coffers and used to make them look good to voters.

It was Margaret Thatcher who legislated, saying the money from sales of council houses definitely  

could not be spent on building new council houses.

She wanted to see the demise of council houses altogether.

Edited March 25, 2023 by Anna B

[Chekhov]

2 hours ago, HeHasRisen said:

You clearly missed the thread the other week where it was stated even putting stars isnt allowed. 

 

Above post reported.

You are pathetic.

Quite apart from anything Effin' is officially not a swear word, do you not read post you reply to ?

You are even more pitiable because you are one of the number one trolls on here, so your faux outrage at "swearing" is feeble.