A political party manifesto for the PRS: What landlords DON’T want from politicians
3 years ago | 11 comments
Mayor of West Yorkshire blasts landlords for raising rents
9:29 AM, 6th October 2023, 3 years ago
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The mayor of West Yorkshire has launched a scathing attack on landlords, in a new interview.
Labour mayor Tracy Brabin has criticised landlords who raise rents in a cost-of-living crisis.
However, she does not advocate for the use of rent controls and instead wants to focus on building more affordable homes.
Avaricious and greedy
Mayor of West Yorkshire, Tracy Brabin, told Inside Housing magazine: “People are becoming homeless because landlords are putting rents up in order to be in line with market prices, when actually they don’t need it because they’re in a fixed mortgage themselves.
“It just avaricious, and it’s greedy. I would say to landlords that do that, you’re not really welcome in West Yorkshire because it’s not fair. Particularly when the cost of living is squeezing people’s incomes.”
Ms Brabin, whose combined authority covers Bradford, Wakefield, Huddersfield, Halifax and Leeds, added: “A third of all children in West Yorkshire are living in poverty. 200,000 families are using food banks. This is fuelled not just by the cost of living but also rising rents.”
Not thought about rent controls
This year many labour mayors including Sadiq Khan and Andy Burnham have called for an immediate rent freeze to help renters deal with the cost-of-living crisis.
Labour’s Lisa Nandy slapped down the calls for rent controls in June, saying: “Rent controls that cut rents for some will almost certainly leave others homeless.”
Ms Brabin stopped short of joining her fellow mayors in directly calling for rent control powers. She said: “I’ve not thought about rent controls currently, it’s not in the forefront of my mind.”
A spokesperson for Ms Brabin later told Inside Housing magazine that building affordable homes was more important to the mayor.
Retrofit social homes
In Leeds last year at the Holtdale estate, 190 social homes were retrofitted with heat pumps, solar panels and insulation by Leeds City Council and low carbon equipment provider, Equans, at a cost of £9.6m.
Ms Brabin praised the work at the housing estate and said more needs to be done.
She said: “There are 680,000 social homes across West Yorkshire and we have to retrofit them all. So while this programme is really fantastic, and the outcomes are really spectacular, we’ve got to turbocharge that delivery.”
The full interview can be read here (for some readers this may be behind a paywall).
Tags:
affordable housing, Cost of Living Crisis, housing crisis, Landlord criticism, rent controls debate, Rent increase, Tracy Brabin, West Yorkshire mayor
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Member Since June 2013 - Comments: 3237 - Articles: 81
6:59 AM, 9th October 2023, About 3 years ago
Reply to the comment left by Chris @ Possession Friend at 07/10/2023 – 13:13
Ha ha yes, din’t realise that. We’re prepared to pay the market cost-Govt & Councils want it so that tenants shun’t have to pay the market cost.
Thank goodness these tenants are flying on Virgin, otherwise that would go bust too.
Member Since June 2013 - Comments: 3237 - Articles: 81
7:05 AM, 9th October 2023, About 3 years ago
Reply to the comment left by Mick Roberts at 09/10/2023 – 06:59
Aren’t flying on Virgin
Member Since March 2023 - Comments: 144
10:04 AM, 9th October 2023, About 3 years ago
Reply to the comment left by JeggNegg at 08/10/2023 – 17:10
JeggNegg
You have listed many of the costs that a landlord needs to consider.
With a single rental property valued at £300k, I simply wouldn’t be able to sleep at night.
You mention a falling market. We haven’t really got into that territory yet. A fall of 30% is very possible. This could mean that you don’t meet the lender’s LTV requirement. Even if you do, you will need the rent to cover 125% or 145% of the mortgage costs depending on if you are a basic or higher rate taxpayer. If you don’t meet this requirement, you won’t be able to remortgage.
I have four properties that cost less than £300k in total when I bought them. Having four mitigates the risk should one tenant decide not to pay.
Member Since January 2022 - Comments: 267
10:32 AM, 9th October 2023, About 3 years ago
Reply to the comment left by Teessider at 09/10/2023 – 10:04good morning. thank yo for you comments. i hope i have not left out too many important costs in buying a property and getting it ready to let.
i always analyze all the downsides i can think off before looking at any upside in big transactions. i got scared and i didn’t complete the deal .
the reason for looking at a £300,000 property was for us to downsize too when we eventually retire.
Member Since June 2023 - Comments: 188
12:39 PM, 9th October 2023, About 3 years ago
Reply to the comment left by Teessider at 09/10/2023 – 10:04
PRS is finishedGVovernment and looney left have left landlords on there knees
Tenants have no respect for properties and at some stage they will trash your property No rent, huge Solicitor bills and referb at massive cost
Member Since October 2022 - Comments: 17
3:12 PM, 9th October 2023, About 2 years ago
The woman’s ignorance is astounding so sick of these people. Does she not realise mortgage arrangement fees are 5 to 7% and rates are 6% plus a landlord has a business and needs to make a profit. With all the licences etc etc and interference from government like section 24 its no wonder rents are going up. Get the socialist idiots out of politics they are no good to man nor beast
Member Since June 2023 - Comments: 188
3:40 PM, 9th October 2023, About 2 years ago
PRS is finished. Government and looney left have left landlords on there knees
Tenants have no respect for properties and at some stage they will trash your property No rent, huge Solicitor bills and referb at massive cost
[email protected]
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Member Since February 2018 - Comments: 627
12:00 PM, 10th October 2023, About 2 years ago
“Mayor of West Yorkshire blasts landlords for raising rents”
Finance costs have gone through the roof even with low LTVs.
Member Since February 2023 - Comments: 40
11:03 AM, 12th October 2023, About 2 years ago
This constant demonisation of landlords eventually permeates down to tenants. They end up being resentful and hostile towards the landlord who provides them with a home. This invariably leads to a lack of respect for the property and hostility toward paying rent. This has been years in the making with todays political class point scoring with their vilification of us. It’s now becoming harder to develop a relationship with our tenants with all this negativity towards us.
I now only let out a property to high earning professionals ,at least this hopefully reduces the risks.
Member Since June 2023 - Comments: 188
3:50 PM, 12th October 2023, About 2 years ago
Reply to the comment left by Juan Degales at 12/10/2023 – 11:03
PRS is finished
Lack of respect for the is a magor factor me for getting out
govenr▪︎mental policiesl, Looney Left Shelter and Generation Rent another
The removal of section 21 was the last straw
Complain to your local MP and gobshite
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