Hypothetical EPC requirements action?

Whilst I do not see landlords acting in concert as you suggest, landlords are already ending tenancies to sell properties and take them out of the rented sector due to the general level of compliance, associated costs and, more recently, interest rate rises.

Our agency struggles to get new landlords whilst our exisiting oens are being depleted as clients sell up.

Don’t forget section 21 is going. You won’t be able to evict without giving a reason. The way the legislation is currently drafted wanting to sell up will not be a mandatory ground. It sounds crazy but it’s looking like if you want to sell up you will have to justify your reasons in court and theoretically at least you could be refused the right to sell your own property.

Reply to the comment left by northern landlord at 17/02/2023 – 16:02
well, not quite, as you will still be entitled to sell the property with tenant in-situ.

I suspect there may be a bigger market for investment property transactions in the future.

Alternatively, I’m sure some will just keep jacking upi rents until tenants can’t afford to pay, and get them out with a S8 for arrears, that’s assuming the market rate supports any referred rent increases.

Reply to the comment left by northern landlord at 17/02/2023 – 16:02
Northern Landlord.

Could you be kind enough to post a link to the claims you may be able to get possession to sell up.
Many thanks

Fantastic idea! It would certainly work but I don’t think we have a body strong enough to coordinate, lead and in whom we trust. Sadly, I think the Government clearly want us gone from the PRS and would probably try and pass some emergency legislation preventing it, particularly labour, who will be here very shortly. I’m praying I can sell without loosing too much before the election. What has this country come to? Any incite as to whether or not family members moving in is a reason for possession??? In which case I might keep 2 knowing that I can get my son’s to move in or better still fake a separation from my husband…no seriously. Knowing I could move my sons in when they’re old enough would persuade me to maybe keep going….maybe. ????

Reply to the comment left by northern landlord at 17/02/2023 – 16:02
Do you have any info on whether or not it seems likely that possession will be given for us to allow our children to move in. ???? Being able to give my children a home, should they need it was my main reason for investing in a small number of properties and if this right were taken away from me there would be no point continuing. Hope you know the answer or at least have some insight as I’m on tender hooks all the time. Just ended one tenancy, one will go in May and the other can go now….Lovely lovely hardworking people who have kept the house like a show home, I could cry and often do at the moment.

We’re basically going back to the pre Housing Act 1988 days with all tenancies being assured and therefore property values will be as before around 50% of the vacant possession value as you can’t remove the tenant if they’re paying the rent on time. I’m sure when we have a Labour junta next year they will introduce rent caps and eviction bans like the wee Krankie did up north. Plus likely to bring in RTB as well. And Starmer will have the power to bring in his beloved second Brexit referendum. Saying that we might not be here if the US detonate nuclear weapons like they’ve done twice before. (sorry to get political….. apologies)

Reply to the comment left by Rebecca Anelay at 17/02/2023 – 23:13
It’s a prior notice ground. I.e. you have to serve and be able to prove you served notice that this might be needed

I don’t know about coordinated, but I have had a portfolio since the 1990s and most are very desirable Victorian properties but hard to make C. I did do one recently but spent over £40k doing it. They are slowly going one at a time already. Now the CGT allowance has effectively gone there is no reason not to get rid of them faster.

Reply to the comment left by Rebecca Anelay at 17/02/2023 – 23:13
At the moment the grounds for possession are not known. We are all talking hypothetically. I can’t imagine that moving a landlord’s children in would be a ground, but we just don’t know. The Government’s aim is a more corporate structure to the sector, so I doubt your aim would be covered.

We hope that grounds will include landlords letting whilst absent (e.g. working abroad) will be able to regain possession, but again we do not know.

Personally I’d suggest that if you are in BTL, don’t bank on using houses for your family; run the BTL as a business.