Rental Crisis - it’s the government’s fault

SHOCKED 😳 Not really 😂😂, and I wonder what they will do about it 🤔 absolutely nothing.

Just wait until the government of the day attempt to bring in rent controls. If they think that things are bad now, there would be another huge exodus of private Landlords.
The trouble with the government is that they compare everything with London, when most Landlords with properties in the province’s are just making an acceptable return against the money that they have invested.

• Peter Merrick
• 06 October 2023 08:42 AM

I'm not sure why you single out London? Of course rents are going to be higher there, since property prices are also much higher, so much so that the gross yield can be as little as 3% for a large HMO as I calculated from my daughter's rent, and that is before any costs have been deducted. Why would anybody in their right mind invest in something that is so risky and gives such meagre returns? Even in a cheap area like mine in the Humber area, it's looking to become barely worthwhile with interest rates and inflation and the tenant tax, falling house prices and limits to what tenants can pay.

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Ben was on the today programme yesterday and credit where credits is due he actually did a very good job for a change. 2 hours 37 minutes in.

• Dwin
• 06 October 2023 11:29 AM

Interesting Beadle called out the current governments policies. Lets hope Gove does not hear about this otherwise he will cancel his appearance at the NRLA annual conference next week where he is a 'guest' speaker. Judging by what Gove said about PRS at his conference (not a lot) it should be a very short speech!

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There is recognition in many quarters that we are in the middle of a rental crisis, but no-one actually plans to do anything but tinker round the edges! We all know there is a problem, we need bold solutions.

• Simon Logan
• 06 October 2023 18:45 PM

Bold solutions only come from people with vision and talent…. Our politicians simply don’t measure up.

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Rental crisis caused by our government using and threatening to use a sledge hammer to crack a nut thus causing tens of thousands PRS landlords that were providing decent homes at reasonable rates to exit market. If it ain't broke don't set about fixing it springs to mind but with rents going into orbit along with homeless figures due to government threats and actions it's probably too late now.

Absolutely the governments fault, announcing range of measures, reducing tax allowances, threatening landlords, cosying up to activists, language used against landlords, broken court system, EPC targets and fines if landlords do not get there and then rowing back on half of them because landlords have the temerity to sell up and leave them in the lurch.

Well done Guys....

The PRS involves a private contract (tenancy agreement) between 2 private individuals (landlord and tenant).
Everything was fine for many years when the government pretty much left all those private individuals to work it out for themselves.
The tax system was fairly sensible, which meant rents were also fairly affordable. There was a plentiful supply of rental properties which again kept rents affordable and standards high (in the majority of properties).
It all started to deteriorate when the government started pandering to the outlandish nanny state demands of the activists, regarding tenants as cash cows with unlimited funds and landlords as unpaid tax collectors (when they're not being unpaid immigration officers).

Unlike a Civil Servant or MP landlords actually invest their own money in their businesses and are far more knowledgeable about local rental conditions and tenant requirements.
There will always be rogue landlords and tenants but forcing out the good guys isn't going to help that situation.

My last tenant is evicted next month.

Im glad to be out of this sector.

Well done Gove you incompetent Tory snake

• DAVID EDMUNDS
• 07 October 2023 10:55 AM

I dont suppose he or she is happy do you

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• Andrew townshend
• 07 October 2023 11:03 AM

I don't expect he or she is happy David but who's fault is that?

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Yes but they have to drive us out for the Big Boys, Multitude of Banks, Insurances Companies, Pension Funds, Institutions of every kind to take over. Why else would there be such a sustained attack with rules, regulation’s, fines, penalties, licensing, re-payment orders, banning orders, S.21 removal, introduction of S.24, The Renter’s Reform Bill if that’s not enough there’s always the revenue. Look around you for goodness sake hundreds of thousands of flats going up to replace us, not 2 / 3 storey Semi or Terraced houses with garden’s but high rise 14 / 18 storey high Porto Modular Box Units in the Sky with your 2 sq meters platform in the sky that’s your garden’s, a huge price to buy or rent. You’ll never have experienced such high prices in your life whether buying or renting.

There is a Rental Crisis and its caused by the Government and Councils. Both have looked on Private Landlords as easy meat . The People suffering in all of this are the small Private Landlords , and their Tenants . They are the ones most effective but no one ask them or listens to them.

Stephen, you are so right of Course its the Government’s fault and deliberately so, attacked from all angles.