Landlords selling up leaving 2,000 households a month in England facing homelessness
https://www.theguardian.com/money/article/2024/may/15/landlords-selling-up-england-homelessness-renting
Posted by ProfessionalNewt7
Landlords selling up leaving 2,000 households a month in England facing homelessness
https://www.theguardian.com/money/article/2024/may/15/landlords-selling-up-england-homelessness-renting
Posted by ProfessionalNewt7
17 Comments
Can’t wait to hear how the landlords are the victim in all this, how unfair it is for them and how they deserve sympathy for relying on an investment for their income
If you start to feel sympathetic to landlords, go have a look on any landlord forum..I usually use Landlordzone..
Housing should not be a commodity.
Hopefully more landlords will follow and our massively inflated house prices will start to fall.
It’ll be messy in the short term, but eventually it would allow more people to actually get a mortgage for their own house instead of being stuck renting forever.
Sounds like they’ve made some poor financial decisions. Unfortunate.
Read carefully. People are ringing the council due to impending homelessness because the Landlord SAYS they are selling up and intends to evict them.
“…because the owner told them they were putting the property on the market.”
They’re not selling up. They’re saying they are, issuing a Section 21, then they’ll put the place back up for rent at double the price.
Landlords aren’t selling. Landlords are evicting. They are the ones driving the homelessness crisis.
No love for landlords, however they are small fry compared to the financial institutions that are going to be the countries future landlords.
Landlords are parasites. They are largely responsible for a shit housing market
This is why I tip my landlord, every month he risks going into negative equity just to keep a roof over my head.
Guarantee landlords are saying ‘we were the only thing protecting you from faceless corporate landlords’
As if social housing isn’t a thing.
Utter parasites.
Lets make landlords lives harder by making them pay more tax (s24)
Tenants: “yes, serves them horrible landlords right”
Outcome: costs passed onto tenants
Tenants: “greedy landlords”
Lets ban evictions and strip away their rights
Tenants: “yes, serves them horrible landlords right”
Outcome: reduction in supply of rentals and higher rent
Tenants: “greedy landlords”
When will you learn that going after landlords does nothing but hurt tenants. The only solution is the build. Anything else is very short term gains for longer term pain
If landlords were (correctly) called property scalpers or touts, it would be a very different narrative around them
In other words:
2000 homes a month are now re-entering the market for first time buyers, reducing the artificial stress imposed on the rental market by parasitic BTL landlords.
In the long run, this will only benefit renters. The more people that get onto the ladder, the less people there are renting, the less exploitation landlords can get away with. Seems like a good thing to me.
I know a few landlords are kicking people out so they can get new tenants in on a new contract before the rental reforms just because its their last chance of a massive rental increase before rental reforms. They are pretending to sell in order to do this.
If all the landlords do sell up (which I doubt they all will), what are the people who can’t afford to buy supposed to do?
But these people only rent because greedy landlords own all the properties and force up prices. If they’re selling-up, surely all the renters can buy all these newly for sale homes?
(Sarcasm, by the way)
This isn’t the epic win Redditbots think it is. The landlords are making a tidy little profit on investments meanwhile the rental stock goes down. Or they go back on the rental market with increased rent. This is bad for renters in the short to medium term (and beyond, depending on the governments reaction).
A contributing factor was mortgage rates increasing over the last two years because many landlords have a mortgage on the buy to let and have to appease the stricter affordability requirements of the lender.
But *some* of them used this as a smokescreen to increase rent even further than was necessary. And with the average rent cost higher, they will gladly evict a lower paying tenant in favour of a higher paying tenant.