12:12 PM, 7th November 2024, About 4 weeks ago 39
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Nick Bano’s recent article in The Guardian, “The End of Landlords,” proposes the radical idea of driving private landlords out of the UK housing market to solve the housing crisis. It’s a bold claim, but one that doesn’t hold up under scrutiny. Bano’s arguments are based on outdated views and unrealistic ideas that would harm both renters and landlords, leading to higher rents and fewer options for tenants.
1. Nick Bano’s Misrepresentation: Are Landlords Really Driving Up Costs?
At the heart of Bano’s article is the argument that landlords are to blame for the high cost of housing. But the reality is that it’s the Government’s heavy-handed policies and excessive taxation that have driven up costs. Regulations like Section 24 and the SDLT surcharge don’t hurt corporate landlords; they hurt the smaller landlords who provide the majority of rental homes across the UK. Blaming landlords for the impact of policy decisions is a major flaw in Bano’s argument.
2. Ignoring the Realities of Supply and Demand
Nick Bano argues that there is enough housing to meet demand, claiming that landlords are hoarding properties. However, this oversimplification overlooks the need for suitable, quality housing in the right locations. Private landlords offer diverse housing options in areas where government social housing has long been insufficient. Bano’s “solution” would strip the market of these options, creating a gap that government intervention cannot realistically fill.
3. Bano’s Fantasy of “Municipalisation” Ignores Economic Realities
In calling for a return to municipalisation, Bano fails to recognise the massive financial and logistical barriers such a policy would create today. The Government would require billions in taxpayer funding to buy out properties and an administrative infrastructure to maintain them. Is Bano suggesting that we create a bureaucratic nightmare and force private landlords to surrender their investments? Municipalisation isn’t a solution; it’s a recipe for disaster.
4. Bano’s Villainisation of Private Landlords is Completely Baseless
Bano’s article paints all landlords as exploitative profiteers, yet this couldn’t be further from the truth. Most landlords are ordinary people who have invested responsibly, providing much-needed housing and contributing to the local economy. Bano’s “plan” would drive these responsible landlords out of the market, leaving corporate entities to dominate. Tenants are far more likely to benefit from renting with independent landlords who have a personal stake in maintaining their properties.
5. Excessive Regulation, Not Landlords, Is the True Culprit
Rather than focusing on the punitive measures landlords already face, Nick Bano proposes adding more controls to “end landlordism.” But it’s precisely these heavy regulations that have led to a market overwhelmed by high costs. Adding more restrictions won’t reduce rents or improve housing; it will further discourage independent landlords from participating in the PRS, leaving only corporate giants to dictate rents and housing terms.
6. Why Nick Bano’s Solution is a Fantasy That Will Hurt Tenants
Bano’s “vision” of a landlord-free Britain might sound good to some, but it’s an unworkable fantasy that would have disastrous consequences for tenants. By eliminating private landlords, the PRS would face a housing drought, skyrocketing prices, and limited availability. Bano’s proposal isn’t just impractical; it’s harmful. The solution to housing affordability lies in supporting responsible landlords, not demonising them.
Nick Bano’s Anti-Landlord Agenda Ignores Reality
Nick Bano’s call to abolish private landlords is based on flawed assumptions and an unrealistic nostalgia for policies that would devastate the UK’s rental market. Private landlords play a critical role in housing millions across the country, and the idea of eliminating them would cause chaos for tenants. Instead of tearing down landlords, we should be reforming policies to support them, ensuring housing options remain affordable and accessible for everyone.
At Property118, we advocate for fair and balanced policies that recognise the essential role of private landlords. It’s time to end the anti-landlord rhetoric and focus on meaningful reforms that protect both renters and landlords alike.
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Juan Degales
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Sign Up12:48 PM, 7th November 2024, About 4 weeks ago
Best to ignore this crank?
Mick Roberts
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Sign Up12:56 PM, 7th November 2024, About 4 weeks ago
I'd like him to put me out of business.
He or the Councils or Govt can buy the lot of my houses tomorrow.
I'll give him £10,000 discount each one if he can agree to keep the same tenants in their same homes at the same 30% below market rent for the next 10 years.
Give him my details please.
Beaver
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Sign Up13:03 PM, 7th November 2024, About 4 weeks ago
I agree with this. On your specific comments:
"Regulations like Section 24 and the SDLT surcharge don’t hurt corporate landlords; they hurt the smaller landlords who provide the majority of rental homes across the UK."
This is absolutely right. Government policy is having the effect of making it difficult for small landlords to operate (other than by dramatically increasing rents to offset the impact of for example now being unable to offset their finance costs) and encouraging the growth of larger incorporated landlords.
Government policy is driving choice for tenants out of the market and driving rents up. Probably the government should get the Competition and Markets Authority to take a look at government policies and explain the situation to them. The CMA has plenty of evidence to look at and in particular the effect of the recent SNP rent controls in Scotland.
It would probably also be a good idea for the CMA to take a look at the proposal to ban tenants from renting properties at EPC band D or below rather than reforming the EPC system to make it meaningful. The CMA could offer a view on what this is likely to do to rents, even if the government isn't capable of working this out for itself, or is turning a blind eye to it in pursuit of the latest trendy dogma.
And on the comment, "Is Bano suggesting that we create a bureaucratic nightmare and force private landlords to surrender their investments?..."
The government can't do this. All that would happen is that many smaller landlords would stop renting their properties and either sell them (to owner-occupiers or larger incorporated landlords) or put family members into them. It would hurt tenants, families, single-parent households, divorced couples, economic migrants, asylum-seekers, charities and also councils and other social-housing providers by removing options from the market.
In much the same way that the latest bright idea of imposing extra national insurance costs on employers damages both the NHS and other healthcare providers and could drive some of them out of business, this anti-landlord, anti-choice rhetoric would increase the welfare bill imposed on the taxpayer if anybody was fool enough to implement it.
Bottom line in the provision of rental accommodation: If you in government don't know what you are doing then let the Competition and Markets Authority take a look and make sure that when you brief them the scope of the review compares the effect of provision across the PRS, charitable sector, and social housing provision including both council housing and housing association accommodation. It's pointless using landlords as a scapegoat for a situation created by government because in the end those badly conceived and implemented policies would come back and bite both local government and the exchequer on the a***e.
Happy Landlord
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Sign Up13:10 PM, 7th November 2024, About 4 weeks ago
Nick has obviously been to university - this is the type of rubbish that university's spout to the students - when they grow up they see the world in a different light - I was amazed at the clap trap which came out of Sussex University when my daughter was there - free housing for all, everyone should be given a state house - the state will own you and you will be happy - as said typical university clap trap. Bring on communism it will be too late when the population wakes up.
NewYorkie
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Sign Up13:36 PM, 7th November 2024, About 4 weeks ago
It's in The Guardian! 🤣
Dennis Leverett
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Sign Up13:37 PM, 7th November 2024, About 4 weeks ago
"Mass-scale housebuilding isn’t necessary – there is already enough housing stock. But we need to learn the wisdom of the last century when it comes to landlordism" Is this a windup from yet another misguided university student?. Very basic question Nick from someone who didn't go to uni, I'm obviously a bit thick. Get rid of all landlords, fine if that's what you want, but where do all the tenants go and how does this solve the housing crisis? Please answer my question if you read this. No need to write a book just a simple answer to help me understand what it is I'm missing here.
Beaver
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Sign Up13:48 PM, 7th November 2024, About 4 weeks ago
Reply to the comment left by Dennis Leverett at 07/11/2024 - 13:37
"Learning the lesson of the last century?...."
Learning the lesson of the last ten years in Scotland would be a start.
Downsize Government
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Sign Up13:55 PM, 7th November 2024, About 4 weeks ago
You can't abolish landlords, the question is are your landlords private or state owned.
But this is stage 1. After abolishing landlords, they will abolish home ownership.
Ivor Tennant
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Sign Up14:48 PM, 7th November 2024, About 4 weeks ago
Reminds me of the old Monty Python sketch "How to play the flute ..... blow in one end and move your fingers up and down the outside"
More difficult than it sounds
Is this guy currently receiving visitors at the asylum?
Mark Alexander - Founder of Property118
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Sign Up15:02 PM, 7th November 2024, About 4 weeks ago
Apparently, he's a practicing barrister at https://gardencourtchambers.co.uk/barrister/nick-bano/ and works with the homeless.
It looks to me like he lives with his clients too!