user_17379

Registered with Property118.com
Thursday 13th September 2018


Latest Comments

Total Number of Property118 Comments: 22

michael@mjproperty.co.uk

13:35 PM, 20th November 2020
About 2 weeks ago

Fair Rents (Scotland) Bill or Artificial state manipulation of free market rent?

Reply to the comment left by Landlord Phil at 20/11/2020 - 10:55
Up until this announcement by Legal and General I would have agreed with you but I think this certainly lets the cat out of the bag
https://www.landlordtoday.co.uk/breaking-news/2020/11/new-direction-for-build-to-rent-as-major-player-targets-suburbs?redirect=true... Read More

michael@mjproperty.co.uk

22:10 PM, 16th November 2020
About 2 weeks ago

Rent Smart Wales issues re-registering?

Nothing smart about Rent Smart Wales- since it’s inception it’s fined landlords for not being registered, attacked a few on technical issues.
However to date it has made not one difference to tenants.
For us welsh landlords it a real laughing stock! Sometimes , just to raise a smile in our office we call them and ask some technical questions, then we listen to some moron spouting words that make no sense!
However they are raising the bar next time round by introducing mandatory inspections! And guess who gets fined if they don’t follow their idiotic regulations?... Read More

michael@mjproperty.co.uk

9:50 AM, 7th November 2020
About 4 weeks ago

michael@mjproperty.co.uk

15:54 PM, 6th November 2020
About 4 weeks ago

Fair Rents (Scotland) Bill or Artificial state manipulation of free market rent?

Alan
Excellent post and well thought out. I commented a few days ago on another post-

'I am fed up of seeing landlords bleating that the risk hasn't paid off, sometimes it doesn't pay off- property investment is a risk. If you don't want to take the risk then sell up , take your gain or loss and get out of the market.'
Once governments start to mess around with free markets things usually go wrong, we only have to look back at the 70's to see how much government interference bankrupted our country ( History lesson to our present government)
We invest in property as we accept the risk / reward and sometimes we win and sometimes we lose and as long as we win more often than we lose we remain in the market.
Whilst 'Fair rent' sounds appealing it doesn't necessarily mean that current tenants will get a reduction which is what they will initially think. As I have had experience of fair rent tribunals they don't always go the way you may think.
The response that will come of this policy( as I suspect it will become law) is once again to push a few landlords out of the market but they may not be replaced because rewards are being stifled and once rewards become stifled then investors tend to shy away . This will eventually lead to less properties on offer and also effectively giving the ones that remain an automatic increase every year, after all if the government tell me to put my prices up every year then I will, even though we generally don't as we want to keep and rewarding good and timely tenants. This will eventually lead to a rental sector that will not be fit for purpose, investors will leave, choice will be limited and more people will end up on the streets.
In the cities that have carried out rent controls over the years they eventually abandon the policy because it just doesn't work. The people who introduce them are usually long gone by then and its left to others to pick up the pieces.
Personally as a property investment company we would exit a market that was being interfered with and we would not give a second thought to it because the risk to our capital would be far to great.
And therein lies the demise of the private rented sector, initially in Scotland if this proposal becomes law. We only have to look at the private rental sector pre 1988 and watch history repeat itself.... Read More

michael@mjproperty.co.uk

17:55 PM, 30th October 2020
About a month ago

You take the risk and I will take the tenant!

Reply to the comment left by Ian Narbeth at 30/10/2020 - 17:45
By your own admission then there is a limit- the actual arrears and the evidenced damage. An unlimited request is unreasonable.
I am saying that if this landlord doesn't want the local authorities tenants then don't take them, its as simple as that.
I am fed up of seeing landlords bleating that the risk hasn't paid off, sometimes it doesn't pay off- property investment is a risk. If you don't want to take the risk then sell up , take your gain or loss and get out of the market.... Read More