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NW Soc

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In the financial services industry a Lender would not discriminate based on financial stability, they would just review the advertised interest rate offered to reflect the risk. So why can't landlords protect their investment by increasing or decreasing the rent based on the credit risk. Also what the insurance industry does. Live on a flood plain and expect higher premiums, is that discrimination of location. Same old mad world.

From: NW Soc 15 July 2020 10:21 AM

Hi Paul Totally agree. Government have been made totally aware of the implications, but as we currently get a new Housing Secretary every six months, no-one is around long enough to understand the ramifications. Also as stated earlier, this was politically motivated as more and more Tory voters lived in rental properties and by saying we're going to ban fees to help the almost making do generation, it looked like a great headline. But unfortunately not everyone looks beyond that. LL and Agents are being hit from every direction, profit appears to be an ugly word. But we aren't social housing and unfortunately supply and demand is a fact of life. I welcome the day a solicitor isn't allowed to charge for advice or for pulling together a contract. I believe that southern based agents didn't control themselves or act responsible when it came to fees and a fixed fee of £150 would be sufficient for our business to pay all the associated costs involved in giving advice, credit checking, pulling together a contract, paying wages etc. But no a complete ban and more legislation for LL, Is coming and we'll see the home numbers continuing to increase.

From: NW Soc 29 May 2019 13:21 PM

We all know of one huge corporate that makes approx 20% of there OP from fees, with equates to a few million a year. Their current reported profits are less then these fees. So either close or massively increase LL fees, which won't be accepted. Our local agents have increased fees by 1% & introduced a minimum of £65 per MTH. LL have accepted as they are aware of the hundreds of new legislations Agents & they now have to comply with. So as predicted the LL will increase rents to cover this 1%. So a policy that was 100% politically motivated will hurt those less able to cope.

From: NW Soc 29 May 2019 10:06 AM

Once it becomes compulsory for all Landlords to join a redress scheme, they will need PI insurance which won't be cheap as insurance companies will see self managed as a higher risk than a well trained agency. Plus as they will be taking tenants details, they will need to sign up to and invest in a GDPR policy, plus join the IOC. All added to together, much better value to let a GOOD Agent take the strain

From: NW Soc 29 May 2019 09:56 AM

With the ever increasing legal tightrope that Landlords face, now even being asked to be boarder guards and potential loss of ROI with the soon to be introduced tax changes, also the removal of fees, the government are trying very hard to destroy the private rental market and with very little, if any new social housing being built, not sure were everyone will live in the years to come as accidental landlords (which make up a large part of the sector) sell up and cash in on their assets. Landlords need legal protection against rouge tenants as arrears, damage and stolen white goods would not be acceptable in any other service sector. I believe that the removal of fees will only make matters worse, as there will be no financial commitment from tenants and they will just be able to move at will. Its all becoming too one sided and Landlords need to be speaking and write to their MP's as less homes is not the answer and the playing field needs re-balancing.

From: NW Soc 03 January 2017 14:47 PM

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