Landlords and agents set to bear brunt of £33M cost of Renters’ Rights Bill

Pahahaha!!!! Yeah right! Let's not forget to include in our sums the huge amount of rent arrears that the new bill will add via the extra 2 months 'grace period' renters will have to not pay rent before eviction proceedings can even start, nor the unlimited challenges they can make to each and every rent increase no matter how small..... This very legislation designed to protect the poorest renters will do nothing but damage them as landlords become more risk averse in their tenant choices as a direct result of this bill......

The comments on the possible impacts sound like a wish list to me rather than reality.
Only the bad landlords will leave! Are they kidding??
Any more legislation or restrictions on landlords will mean more leave and costs will increase. It’s simple supply and demand.

Every word of the RRB increases costs for landlords (and therefore, tenants).

That £12 needs to cover subscription to a database, membership of a redress scheme, increased risk (of hefty fines, larger defaults, heavier legal costs to name just a few).

Where the Bill is long, answer is short.

I will never offer a tenancy to anybody ever again.

So, there you have it. Generation Rent, Shelter (who don’t provide shelter to anyone) and successive governments have won their war on landlords. Good tenants are just the collateral damage.

Only a small number of Landlords will leave !! Why are 20% of the Properties currently up for sale ex rentals ?

Why in some arears are Landlords getting 60 to 90 enquiries when they put a property up to rent ?
Why are rents at record levels ?

The NRLA should be in touch with local agents and councils. to assist in providing accurate truthful figures on a weekly basis as to how many rental Homes are being lost. And How rents are rising.

I keep having to fix headlines.

‘Tenants and agents set to bear brunt of £33M cost of Renters’ Rights Bill’

Consumers pay for the cost of providing goods and services. That’s how it works.

Increasing NI, increasing the minimum wage, stealing bits of a farm… all come at a price and it cannot absorbed by the suppliers’ tiny margins.

How's the accuracy of the HS2 budget going?
Does anyone have faith in government estimates.

The costings seem conveniently to support the passage of the bill.

A fine example of what the military call "situating the appreciation rather than appreciating the situation". There are some good points in the impact assessment but too many preconceived politically motivated issues obscure the benefits. This was not drawn up with an open mind, rather to reinforce and "prove" a particular point of view.
Personally, I don't have an issue with the loss of S21, but only if the courts system is reorganised to cope with deluge of claims that will follow. Digitising the process is long overdue, but we have yet to see the details of what this means in practice, how long it will take to implement, and the funds available to progress this. My fear is that the answer will be years, and none.
A few years ago I worked with Frank Field, then Chair of the Commons select committee on work and pensions, on issues around homelessness and social exclusion. The results were pretty clear, and what we termed the "hard to house" group were ones we wanted to target interventions towards. For a number of reasons, a large percentage of this group gravitated towards the PRS as their last option before homelessness.
As a result of this legislation landlords will now need to be much more selective on who they rent to to try and protect themselves. This means the hard to house group will be even less likely to get into the PRS, leaving them to fall back on council and HA lists, places they have often already been excluded from. Inevitably will lead to higher emergency housing costs and increased homelessness.
Without a workable system in place BEFORE this is enacted then more and more landlords will simply give up and exit the industry. The houses will still be there, with some remaining for rent and others bought by owner occupiers.
What won't be there is the funding to repair them to the standards previously achieved. Also missing will be the army of "non-working landlords" who invest their time and money bringing very poor properties back onto the market.
In my 30+ years as an investor and developer I have renovated over 100 properties - ones that were often uninhabitable. Will I be doing more? No, I am selling up and exiting the PRS within the next 3 years.
I considered myself to be a good landlord. All my properties achieved a 5* rating from our local councils. I, like many others, am leaving the business now due to increased costs, decreased profitability and greatly increased danger of substantial losses if I can't reclaim a property in a timely manner.
I had a good run over the years, helped many families into good housing and made a lot of friends doing so. Yes, I made some money along the way but nowhere near what I could have made if I had screwed the tenants for everything I could. In other words, I was a typical landlord.
For those remaining in the business - goodbye and good luck.

Andrew I liked this so much I put my thumb up ten times. I have been in the business for 20 years and am sick of being hated by our politicians. They are entirely to blame for not ensuring an adequate supply of housing and destroying the market place. It is the tenants who pay the price.

Reply to the comment left by Downsize Government at 26/11/2024 - 10:30
I worked in a government department.

We compiled a risk register, produced a Monte Carlo simulation and the results wouldn’t have been acceptable to Whitehall so the boss told us to ignore the results and use a lower number. Bottles of champagne from the supplier seemed to sway his thinking.

It’s the same tip with projects like HS2. They work out a price and then decide what the government will accept to get the project started.

There are fairies at the bottom of my garden, helping the government with its costings.