This is how many landlords are set to quit private sector

And hey presto the big boys move in and none of it applies to them , what a surprise

I think Butane Capital is right all those Digital Academic Amateur Landlords just pressing buttons should be banned and leave it to the Professional hands on Landlords who supply and maintain millions of the much needed quality affordable homes, the life blood of Private Housing Stock in this Country with their own finance, credit where it’s due.
Reinstate Section 21 immediately before more damage is done are you all blind, or want to ignore the facts. Hundreds of Thousands of landlords have sold up because of the threat of removing S.21. Thousands more switched others stopped providing, how much more evidence do you want.
How many does Generation Rent house ? missing you already Alacia.

I’ve been saying it for years From 12 properties to 4 properties and with the latest Capital Gains Tax Relief being reduced year on year it’s now not worth selling off only one a year.
So with my properties I will never put another on the rental market when they become empty. They will be sold off and another one goes off the rental market which makes supply shorter and puts up costs to private renters.
I keep saying it, the Government and Councils have a massive problem hurtling down the road to them with a housing crisis that they will and are fill with putting families into cheap B&Bs or Hotels and they will have to pick up the bill.
So not clever of Government or Councils.

Micheal, the government is setting up an organisation to make landlords "professional" and wants continuous professional development for landlords. Social housing are the big landlords and they are very heavily subsidised by the taxpayer. Further quite a lot of their properties are hell holes and l have had people begging to leave them.

Why would I rent out my properties? The government will now control them and I will have no choice about the duration of an AST, the court system is broken and tenants have all the rights? Best to sell before EPC costs, CGT and the tax system make it a loss-making investment and emigrate to a country that welcomes entreprenuers

LLs who were selling 1 a year to maximise their CGT allowances are now going to just sell, speeding up the process drastically. The PRS was struggling with the slow loss of LLs but this faster exodus will put the PRS under even more pressure.

If EPC C comes it it will be carnage! LLs are already selling up because of the threat. The Govt needs to make its intentions clear. Dismissing the current proposals along with removing S24 & leaving S21 might save the PRS but the uncertainty at present is killing it & fast.

SELL UP BEFORE THE RUSH :
IN 2024 THEY WILL RUIN EVEN ACCIDENTAL LANDLORDS
8 months into a POSSESSION CLAIM
where the COURT REQUIRES 3 MONTHS TO OPEN CORRESPONCE
and FIVE MONTHS after granting tenant 2 weeks to do a late defence.
Court with her Duty Solicitor give her another week.
SHE DOES, SO BACK TO SQUARE ONE
20K ARREARS equivalent of ONE AND A HALF YEARS LIVING FOR FREE
Probably on repairs AFTER REFUSING ACCESS CURRENTLY AND FOR A YEAR
and FIRST & LAST MONTH IN ADVANCE, which was very clearly stated as not a deposit/not for any damage...
and was used up in the first few months.

You can now get 4.5% in a savings account, it’s a no brainer

Great news in the short term. Rents are going through the roof. Already have in my area on houses and flats, but unfortunately not on HMOs. Shortage removes competition So tenants are far less fussy as to what they will rent. The Government does not care about tenants and are focused on bashing landlords for political advantage, whilst increasing the cost of social housing and so the cost to the taxpayer.

Never had to use section 21 so won’t miss it. I evict for rent arrears and misbehaving tenants also do not pay rent and I have Waited over 350 tenants in the time of being a landlord through the courts, and never NOT got possession. Evicting tenants is easy when you know how and I have written a book on it to show other landlords how to go about evicting tenants. Why landlords worry, about losing section 21 I don’t know but will add to the exodus. Yes, just as after the Second World War, private landlords were decimated, the same I believe it’s happening now, but those who stick with it should do well in the short term.
Nothing is forever!
Jim Haliburton
The HMODaddy

I still like being a landlord.
The idea of evicting anyone so I can sell horrifies me.
I can handle EPC C (except on one property which was a G when I bought it and is now a D).
I currently provide homes for 56 people. Some of them will buy eventually but right now renting is the best option for them. They're a mix of students, young professionals, young couples, low income families and nearly retired low income men. Some wouldn't dream of considering Social Housing, others have been turned down, one came to me via a Council scheme.
Until last October I had almost never increased rents for existing tenants. Some had been paying the same for over 5 years. The utility price rise forced me to increase 12 people's rents by between £25 and £60 a month each. It didn't fully cover the increased costs but it helped. Current market rents for new tenants helped a bit more. This year 5 of my mortgages come off their current fix. In April a different 10 people have rent increases to go a small way towards the mortgage cost increases. This time mainly 7% increases, as even Social Rents are increasing by that much. Those rent increases are likely to push my taxable turnover into loss of personal allowance territory so the government will take 60% of it as tax. The mortgage company still want their increased payment and of course utility prices still haven't dropped.
So in real terms because of Section 24 meaning we are taxed on turnover not profit, most of the extra rent tenants will be paying will go to the government as extra tax. My personal take home pay will drop. If I was being rational or sensible I should sell 2 or 3 properties, which would mean evicting 6 or 10 totally blameless tenants, but......
I still like being a landlord.
The idea of evicting anyone so I can sell horrifies me.

I just hope the government wake up and realise the harm Section 24 is doing to tenants.

There is far too much control in this country now. I do believe in legislation, but they are taking advantage of landlords.
The next step will be rent controls.
We need to increase rents to cover the tax burden, and they’ll tell us we can’t increase rents. It’s beginning to feel like a dictatorship. Total control and not conducive to positive business.

Yes Kulvinder !

Working well driving out Private Landlords for Big Boy to take over, has to increase the Rents on the way their new high rise Flats costs more for a one bed Flat than our Terraced or Semi Detached House’s.
HMO’s was one of the worst thing to happen Daddy people living in poker stuffy rooms and very often no sitting room / living with all mixed sub- standard living.
All my Properties are HMO’s and licensed enforced on me by law but I don’t let rooms so what a wasted exercise.
The way it’s going I will probably have no choice but to let rooms in which case my turn over goes up £100’000.00 pa, that should tell you how much I hate to concept.
Reinstate Section 21 now before more irreversible damage is done and stop the clowning.

Micheal, like a lot of landlords on here you are doing the decent thing by the tenants. Unfortunately that can be seen as weakness. I've had lots of occasions when lve done the decent thing and it has backfired on me. Funnily enough being ruthless seems to be more effective for everyone. Going through Birmingham last week l went through a very (used to be)! nice area with large, very good homes. Unfortunately they are all converted into flats, with the subsequent deterioration of the area.

Luckily I've still got two shops let out and the legislation is nowhere near as draconian as with residential... so far ....

I've actually stopped renting out my basement flats as they attract such utter wallies

We have a small portfolio and are thinking of shedding it largely because the cost of bring the properties to a C rating as estimated are prohibitive especially for two people in their mid 70s.
I recently conducted a review of the EPCs, the recommendations and the estimated costs and savings. I don't know how many others have done this but the figures showed me that:
1. The estimated costs for specific recommendations for an EPC carried out in 2022 are exactly the same as one carried out in 2014!
2. The cost shown for energy efficiency lighting would buy no more 8 bulbs - Laughable!
3. The number of years taken to recover the estimated costs from the estimated savings was up to 167 years for individual items and between 14 and 69 years for each of the properties to get to C
4. If we spent the estimated amounts on all our portfolio, we would probably have no income from our portfolio for about 3 years

The abolishment of S21 will by default, cause all properties to be Air bnb/short let causing Landlords even more financial pain with re letting every few months, repeat inventory costs as short term contractors and in between house people use them for their own gains. I will be totally un furnishing mine to stop this which in turn will prevent students taking them which is a real shame. So ill thought out.

Nick, AirBnB are getting the equivalent to a months rent for a week on London.
Edwin my friend what is a professional landlord one that can deal remotely with a heap of administration bull that their colleagues invented, but capable of doing nothing with a house.
Or a hands on Landlord that can do everything regarding maintenance and looking after their Tenants. So Computers have now taken over and are far more important than housing no wonder there’s a crisis.
Right. Government wants to make landlords Professional and wants Continuous Professional Development now where did I hear that before CPD points. brownie points like a Child.
This is the Accreditation nonsense which I have done years ago with NLA & LLAS but not anymore because it keeps expiring, how can the knowledge you had expire or how experienced can you get.
Oh Sorry I forgot they dreamt up some more bull sagar.

Tenants are not to worry, its just the Govt's Unintended consequences
( just stock up on cardboard boxes ! )

WAKE UP!
JUMP FOR A BETTER LANDING,
BEFORE THE FINAL SHOVE,
IT IS A CERTAINTY...
SELL SELL SELL

Scare tactics to get property cheap for the big boys who really control things

Government advisors …. More like puppeteers