Shortage of rental properties so extreme tenants are refusing to leave?

Shortage of rental properties so extreme tenants are refusing to leave?

15:01 PM, 19th April 2022, About a month ago 76

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Hi, my name is Melissa Lawford and I am the property correspondent at The Telegraph. I have heard from some lettings agents that the shortage of rental properties is so extreme that in some cases tenants are refusing to leave properties because they have nowhere to move to.

I’m keen to talk to landlords who are being affected by this.

Are you having problems getting a property back because your tenants cannot find anywhere else to rent?

Please get in touch, melissa.lawford@telegraph.co.uk, 07936135425

Thank you so much for your help,

Melissa



Comments

by DSR

16:53 PM, 19th April 2022, About a month ago

such tenants are TOLD by the Council to stay where they are until bailiffs appear simply because they have no where to house them themselves and not duty of care until they are actually homeless!

This experience is rife among LL's and only set to get worse WHEN S21 is abolished.

by Monty Bodkin

18:59 PM, 19th April 2022, About a month ago

No need to take the word of letting agents.

Just look at the numbers of properties to rent on Rightmove.

Towns that had over 100 properties available to rent 6 years ago now have less than 20.

Or place a rental advert on a well known online portal and read through some of the heartbreaking desperate enquiries.
-Private landlords are not to blame for the consequences of all the recent landlord bashing.

by Happy Landlord

9:51 AM, 20th April 2022, About 4 weeks ago

I hate to say that I told you so but the meddling's and attempted destruction of the PRS by this government and in particular George Osbourne's clause 24 are the main cause - one day the government will see sense but that is probably a bit far fetched. That said you cannot imagine how the other lot would deal with this! All I want to do is to provide decent quality housing, and make a bit of money for my retirement - all destroyed because of government incompetence - probably largely driven by a civil service with an agenda!!

by Coastal

9:55 AM, 20th April 2022, About 4 weeks ago

A huge amount of landlords have / are leaving the industry, due to government policies of ever increasing regulations and the S24 tax changes.
This has certainly been the case in my area.
Severe shortages of future rental property was all very predictable, when George Osbourne originally announced the 'bash landlords' plans in his 2015 budget. Begs the question; why didn't the government foresee the outcome?

by NewYorkie

10:07 AM, 20th April 2022, About 4 weeks ago

Reply to the comment left by Coastal at 20/04/2022 - 09:55
Wanted the younger rental vote and neutralise Labour. Bash greedy landlords = we're on your side. There are now a lot fewer to bash, and more and more renters unable to rent!

by Lee Bailey

10:15 AM, 20th April 2022, About 4 weeks ago

Dear Melissa

This is simply the result of string of policy failures by government regarding this industry/service.

It will likely worsen as more landlords sell up due to the impending abolishment of section 21 and EPC grade C proposals. For me personally it's section 24 of the finance act that's crippled my portfolio with no way out other than selling up gradually.

People have forgotten that since the coalition government came to power in 2010, 162 of the 323 magistrates courts in England and Wales have shut. Any evictions will take a very long time should section 21 be abolished.

Imagine the losses incurred and potential financial destruction of landlords credit files if it takes so long to evict. They'll end up renting themselves after losing everything.

Regarding EPC Grade C. This isn't possible for a great number of properties due to their mode of construction. Unless a huge amount of capital is used. Fine if the property attracts large rental income with the cost repaid quickly. For most outside London, the capital outlay wouldn't be recouped for 20 years or longer, rendering it impossible/pointless. Many landlords won't even have the capital and wouldn't want to be lumbered with any additional debts in anycase.

I conclude that the government should step back on both counts to save this vital service which provides homes. Otherwise have no homes and no one daring to enter this service?

If government continues, tenants may face huge rises in rental costs as interest rates rise and green loan repayments need to be covered.
Tenants certainly cannot fall back on social housing, as this astonishing government has also failed to adequately provide that service.

Is there ANYTHING at which they are competent?

Parties maybe??

by Rob Thomas

10:35 AM, 20th April 2022, About 4 weeks ago

Hi Melissa

Lee Bailey makes some good points. I would emphasise that the proposed increase in minimum EPC rating for privately rented property from E to C, which will affect millions of homes, will be the most significant negative of all.

As Lee says, for many properties the cost of achieving a C rating is prohibitive. Unless this plan is dumped the shortages of rented property we have seen to date will look like a picnic. And why single out the private rented sector while not imposing the same standards on social rented or owner-occupied housing?

Because government knows that millions of homeowners wouldn't be able to afford the cost and neither it seems can councils and housing associations. What makes government think that private landlords would be able to afford costs running to tens of thousands of pounds for many properties.

by Paul Shears

11:02 AM, 20th April 2022, About 4 weeks ago

I'm not sure we will ever know the greatest motivators in this fiasco.
What slowly became apparent is that both left and right wing governments wanted to convert the private rental sector into yet another huge inefficient parasitic bureaucracy.

The tower cranes suddenly started to appear five years ago across the sky lines of the city where I live and every one is building yet another rent-a-coffin. Another seventy four are nearly finished in the middle of an unfit for human habitation, industrial estate in the roughest part of the city built on a tiny car park. Obviously there is no longer a car park there.
The tower crane is around 150 feet high judging from the adjacent rent – a – coffins and is indicative of the other city tower cranes in scale.
Just near where I live an eighty ton crawler crane and pile driver have been in situ pounding away on a forty five degree slope in a gap between two houses constructing a huge rent – a coffin that dominates the sky line from 10 miles away and will house several hundred inmates.

Clearly these rent – a – coffin enterprises are funded by huge corporations with a long term goal to fill a huge void being left by the private rental sector collapse.

I am seeing ever more "student only" accommodation caused by the bizarre peculiarities of the council tax system. The spaces are getting smaller and smaller with each human being crammed into an ever tighter space and with ever tighter constraints on their options for creative autonomy.

I note that the current amount of accommodation available in the city is tiny.
I am 12 years without a single night void apart from a couple of months due to inept covid propaganda convincing everyone that it was illegal to move home and beyond the wit of man to accomplish without huge and unacceptable personal risk.

Despite this I am having trouble finding a tenant!

I can't take a student due to the effect of the council tax on the other tenants (Over £1,400 each!).
From my discussions with the initial enquirers, the low living costs compared to the competition and the high standard of accommodation I offer are not the issues.
Frankly the only explanation that I can think of is that people now really do want to live in a rent - a - coffin.
My previous experience is one of having no problem at all finding a good tenant and once they move in, they stay for at least two years.
The only bizarre thing that has come to my attention is that there are still people out in the market who seem to be oblivious of the likes of SpareRoom.co.uk etc. and go to an agent with all the inherent fees that entails.
Has anyone got any other ideas?

by Ana Martinez-Fernandez

11:03 AM, 20th April 2022, About 4 weeks ago

As many have pointed out, Section 24, a tax that goes against standard accountancy/business rules, has been the primary cause of the dramatic reduction of PRS housing. We could all see this when it was introduced and yet nothing has changed since to improve it. The upcoming EPC changes and abolition of Section 21 will only encourage more landlords to leave the market.

by David Judd

11:06 AM, 20th April 2022, About 4 weeks ago

Constant changes to private landlords has driven many out of the industry. The past 2 years of covid also proved difficult for alot of landlords especially in London. I had to reduced rent and had 2 flats empty for a while due to lockdown. Its a welcome relief to be able to increase rents to survive. BUT this won't be the last of the issues, Mayor Khan wants rent control in London, so does Labour, and if this gets the go ahead, it will spread to all towns and cities

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