0:03 AM, 11th October 2023, About 2 years ago 11
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The mismatch between supply and demand is worse than ever with a frenzy of activity in the rental market.
New research by Rightmove reveals letting agents report an average of 25 enquiries from prospective tenants for every property on offer.
One of Nottingham’s largest landlords reveals why tenants are struggling to get housing and why landlords are not to blame.
On BBC Radio Nottingham, Mick Roberts told presenter Sarah Julian why landlords “are not raking it in.”
He said: “A lot of landlords are not actually making money, with interest rates going up and legislation.
“For example, Nottingham’s selective licensing scheme costs landlords £900. What do tenants get from that, they get nothing! The more charges a landlord gets the more they put the rent up and if it doesn’t add up then they sell.”
He added: “You just never know when the next charges are coming next.”
Mr Roberts says a lot of the frenzy in the rental market is undersupply from landlords deciding to sell up.
“I’d like to sell a lot of my properties but my tenants can’t get any properties anywhere. I wish they could get somewhere but they can’t. I’ve had some tenants for more than 26 years and if you’ve got morals and a conscience you look after them.
“You get one bad landlord down the road, the council say right, all landlords are going to have a charge now, and then what happens then, all tenants will suffer.”
Mr Roberts told Property118 that landlords have to suffer with over regulation.
“There have been over 176 new rules and regulations since 2015 all making rents more expensive. Who is benefiting from that?”
The full interview with Mick Roberts can be heard here at 1 hour 57.
Mick Roberts
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Sign Up8:00 AM, 2nd December 2023, About 2 years ago
Reply to the comment left by Monty Bodkin at 29/11/2023 – 16:22
That’s is Monty, they even mention the homeless. But they don’t mention that their Selective Licensing is a large cause of it.
Beggars belief doesn’t it. Nottingham City Council now have an £8 million and increasing homeless bill, all started spiralling cause of their 2018 Selective Licensing, which has contributed to their bankruptcy and then they bring ANOTHER Selective Licensing scheme which we EXPERIENCED KNOWLEDGEABLE people KNOW is gonna cause more homeless and ever increasing rents. All to find a few bad houses while the good houses get worse cause the good Landlords funds which are by far the 80% majority are now being spent on Licensing. Utter bonkers.
I’m Nottinghams biggest private provider to Benefit tenants over 26 years and STILL they haven’t spoke to me to see if they doing ote wrong.
https://lnkd.in/ezBFKB_T