> If you have to freeze a rent and you are on a buy-to-let mortgage and your costs are going up as a landlord then you are not going to be able to cover your costs
Can’t let those poor landlords have their investment not give a return, better to let people be homeless during winter.
Labour not really getting who side they are meant to be on
Won’t somebody think of the landlords, nice one Starmer.
We need rent frozen. Landlords are making plenty of cash
Don’t borrow beyond what you can personally afford.
On the receiving end for once.
Playing devil’s advocate here. Landlords still have to most likely pay a mortgage. If the house forecloses with a renter I doubt the bank will keep it rental.
I think they know it won’t stand up in court.
Be interesting to see what happens in Scotland
Rent control would likely kill the rental market, worsening the situation for renters, as landlords will sell up and the amount of properties available to rent will fall.
Only way to counteract this would be a massive increase in the number of affordable houses but we all know that isn’t going to happen. Especially in places like London and other big cities.
Oh no. What a shame. Poor landlords, my heart bleeds for thee.
Control the rent based on the mortgage. You aren’t allowed to rent for more than £50 a month more than your mortgage.
My awful flat was built in 2004 by my landlord. There’s no way he still owes any money on it.
All you need to do, is look at places where rent controls have been in place for decades, namely America, where the most expensive and most increased rents are all rent controlled areas. Data sucks sometimes doesn’t it?
Freezing rent is currently having consequences in Scotland. Landlords are pulling out of the market and selling up leaving less houses for people who can only afford to rent (because of the crazy interest rates making a mortgage more difficult to get).
Here is what landlords do. Their bills have gone up, they now are only getting x amount of money in, for their investments of owning where you live. So they put your rent up, to make the same money they were making before. They have money in the bank, they don’t care about you.
you, meanwhile, have to not have the heating on, eat 29p pasta and tell your kids to read a book, at night.
I would love to buy the house I’m renting, or any other house in the fucking road, but they’re all owned by just two couples (they had to let us know when we rented).
Maybe this will finally force them to give up one or two, they even told us what great renters we are
>We never had a problem with you two, and the mortgage on this one is nearly done
These fucking people…
Ohh piss off these greedy landhostages own all the property and money they’d need to retire at 45 but how dare they not be allowed to exploit working people who will probably never own a home due to a greedy housing market
Just a friendly reminder that rent control is typically ineffective and that ‘sticking it to the nasty landlords’ might not be the optimal solution for renters.
Landlordism is a symptom, not the cause of the housing crisis.
Rent caps hurt renters, look wherever its been tried. Scotland has it, now Edinburgh students cant find a flat and are sleeping on floors.
Build, more, houses. Bugger the green belt, bugger nimbys
​
until this is done people can moan all they want, supply/demand wont change
Rent controls freeze the market, destroy investment, incentivise landlords to cut every single penny and make renters lives’ as miserable as possible so they’ll fuck off of their own volition.
If you want to abolish buy to let then do it, make renting houses out illegal or limit the numbers, but it has to be part of a deliberate process to do it. Just freezing rents and thinking that’s job done would be disastrous. Some people would sell up, but not nearly enough to alleviate the massive problems you’re causing.
No no no, the consequences are intended. Make it unprofitable so they all sell at once and the housing crisis will be on the way to being solved. Councils can buy thousands of them before the market crashes and rent them out at a fair rate leaving money in working people’s pockets leading to growth and prosperity. Money to the rich doesn’t help the economy and never has.
Here’s an idea.
Why not think through the consequences, and legislate against the undesirable ones?
That’s literally their job. Our political class is absolutely moronic.
I’m starting to like Labour less and less, but what other option do I have, really? It’s either them or tories lol
Landlords can minimize their expenses by selling their properties.
Investments can go up as well as down.
So all investments must yield??? Now give me back my money I lost in the stock market.
Demand dramatically outstrips supply. Government keeps focusing on the demand side (rent freeze, stamp duty holiday, etc.), but none of these things address the supply shortage. Rent or buy, things can’t get better without more homes
What like landlords having to get a real job? I’ve friends who are facing step rises from their landlords to “match the market price” and when looked up their landlords are on fixed rate mortgages. The greed of landlords is staggering
“your capital is at risk”
Since when have investments been guaranteed? Anyway, it would be simple to apply a freeze only to landlords with more than one rental property.
I’m a landlord – I lose -£200 a month. I’m not raising my rent because it’s already high. Trying to sell instead but the market is not moving. Not all of us are money goblins.
The only “people” interested in buying are corporate companies which I refuse to entertain (whilst I can). Some overhaul needs to happen for sure.
By
>landlords
They mean property owners with a mortgage. Don’t forget renting usually costs more than a mortgage
To be fair it is a ridiculous idea to freeze rents anyone that can’t see that is blind in their hatred of landlords and life being unfair
Yep. Some proper common sense here from Labour.
Whats worse than an rise in rent to cover increased interest costs is when you are asked to leave because the landlord has to sell because it has become financially untenable.
And then the inevitable shrinkage of supply as other landlords have to do the same.
Starry eyed socialists like Plaid just can’t understand that
First gen rent control like this always messed up the market. There’s incentives to leave houses empty, let the houses degrade, and eventually kill the rental markets completely.
It’s been known since the late 1980s, yet we seem to be circling back to this?? C’mon there’s better ways to control rents and help tenants!
Well yes obviously. Freezing rents will cause landlords to depart from the landlord business, reducing the supply of rental properties and the amount spent on their upkeep, and will be devastating to tenants.
Those who think such a measure would only hurt landlords who somehow deserve it aren’t thinking it through.
I’m sure the comments here will be well considered and grounded in economic reality, oh wait…
I know this is going to be unpopular but I have a second house and I want to clarify something.
The rent isn’t nearly as lucrative as some people seem to think.
My tenants rent covers the maintenance of the property. There is a great deal more maintenance needed on a rental property than on my own.
Then of course there is the mortgage.
All in all about 20% of rent is profit. And actually being a landlord is a huge amount of hard work. Being on call all day every day.
Then there is the risk of a bad tenant. The laws don’t protect landlords any more than they protect tenants. I can go in to more detail if needed.
All in all I have found being a landlord as difficult and frustrating as being a tenant.
I agree that tenants have it difficult. And there are a lot of bad landlords put there. I just wanted to clarify that being a landlord isn’t an automatic golden egg.
The landlords with one or two extra houses will get shut. The companies with 100’s or 1000’s will snap them up and guess what. Massive rental increases in the future. Very few in 2008 ended up back owned by Joe Public. Landlords buy of Landlords.
Go to your average renter and ask “if the landlord let you buy this house today for 20% less than todays market value?” how many of them could afford it. I am going to say its a tiny number.
Either way, what ever happens the rents are going to go up. Blame the fuckwits in charge or the banks not the landlords.
35 comments
> If you have to freeze a rent and you are on a buy-to-let mortgage and your costs are going up as a landlord then you are not going to be able to cover your costs
Can’t let those poor landlords have their investment not give a return, better to let people be homeless during winter.
Labour not really getting who side they are meant to be on
Won’t somebody think of the landlords, nice one Starmer.
We need rent frozen. Landlords are making plenty of cash
Don’t borrow beyond what you can personally afford.
On the receiving end for once.
Playing devil’s advocate here. Landlords still have to most likely pay a mortgage. If the house forecloses with a renter I doubt the bank will keep it rental.
I think they know it won’t stand up in court.
Be interesting to see what happens in Scotland
Rent control would likely kill the rental market, worsening the situation for renters, as landlords will sell up and the amount of properties available to rent will fall.
Only way to counteract this would be a massive increase in the number of affordable houses but we all know that isn’t going to happen. Especially in places like London and other big cities.
Oh no. What a shame. Poor landlords, my heart bleeds for thee.
Control the rent based on the mortgage. You aren’t allowed to rent for more than £50 a month more than your mortgage.
My awful flat was built in 2004 by my landlord. There’s no way he still owes any money on it.
All you need to do, is look at places where rent controls have been in place for decades, namely America, where the most expensive and most increased rents are all rent controlled areas. Data sucks sometimes doesn’t it?
Freezing rent is currently having consequences in Scotland. Landlords are pulling out of the market and selling up leaving less houses for people who can only afford to rent (because of the crazy interest rates making a mortgage more difficult to get).
Here is what landlords do. Their bills have gone up, they now are only getting x amount of money in, for their investments of owning where you live. So they put your rent up, to make the same money they were making before. They have money in the bank, they don’t care about you.
you, meanwhile, have to not have the heating on, eat 29p pasta and tell your kids to read a book, at night.
I would love to buy the house I’m renting, or any other house in the fucking road, but they’re all owned by just two couples (they had to let us know when we rented).
Maybe this will finally force them to give up one or two, they even told us what great renters we are
>We never had a problem with you two, and the mortgage on this one is nearly done
These fucking people…
Ohh piss off these greedy landhostages own all the property and money they’d need to retire at 45 but how dare they not be allowed to exploit working people who will probably never own a home due to a greedy housing market
Just a friendly reminder that rent control is typically ineffective and that ‘sticking it to the nasty landlords’ might not be the optimal solution for renters.
Landlordism is a symptom, not the cause of the housing crisis.
Rent caps hurt renters, look wherever its been tried. Scotland has it, now Edinburgh students cant find a flat and are sleeping on floors.
Build, more, houses. Bugger the green belt, bugger nimbys
​
until this is done people can moan all they want, supply/demand wont change
Rent controls freeze the market, destroy investment, incentivise landlords to cut every single penny and make renters lives’ as miserable as possible so they’ll fuck off of their own volition.
If you want to abolish buy to let then do it, make renting houses out illegal or limit the numbers, but it has to be part of a deliberate process to do it. Just freezing rents and thinking that’s job done would be disastrous. Some people would sell up, but not nearly enough to alleviate the massive problems you’re causing.
No no no, the consequences are intended. Make it unprofitable so they all sell at once and the housing crisis will be on the way to being solved. Councils can buy thousands of them before the market crashes and rent them out at a fair rate leaving money in working people’s pockets leading to growth and prosperity. Money to the rich doesn’t help the economy and never has.
Here’s an idea.
Why not think through the consequences, and legislate against the undesirable ones?
That’s literally their job. Our political class is absolutely moronic.
I’m starting to like Labour less and less, but what other option do I have, really? It’s either them or tories lol
Landlords can minimize their expenses by selling their properties.
Investments can go up as well as down.
So all investments must yield??? Now give me back my money I lost in the stock market.
Demand dramatically outstrips supply. Government keeps focusing on the demand side (rent freeze, stamp duty holiday, etc.), but none of these things address the supply shortage. Rent or buy, things can’t get better without more homes
What like landlords having to get a real job? I’ve friends who are facing step rises from their landlords to “match the market price” and when looked up their landlords are on fixed rate mortgages. The greed of landlords is staggering
“your capital is at risk”
Since when have investments been guaranteed? Anyway, it would be simple to apply a freeze only to landlords with more than one rental property.
I’m a landlord – I lose -£200 a month. I’m not raising my rent because it’s already high. Trying to sell instead but the market is not moving. Not all of us are money goblins.
The only “people” interested in buying are corporate companies which I refuse to entertain (whilst I can). Some overhaul needs to happen for sure.
By
>landlords
They mean property owners with a mortgage. Don’t forget renting usually costs more than a mortgage
To be fair it is a ridiculous idea to freeze rents anyone that can’t see that is blind in their hatred of landlords and life being unfair
Yep. Some proper common sense here from Labour.
Whats worse than an rise in rent to cover increased interest costs is when you are asked to leave because the landlord has to sell because it has become financially untenable.
And then the inevitable shrinkage of supply as other landlords have to do the same.
Starry eyed socialists like Plaid just can’t understand that
First gen rent control like this always messed up the market. There’s incentives to leave houses empty, let the houses degrade, and eventually kill the rental markets completely.
It’s been known since the late 1980s, yet we seem to be circling back to this?? C’mon there’s better ways to control rents and help tenants!
Well yes obviously. Freezing rents will cause landlords to depart from the landlord business, reducing the supply of rental properties and the amount spent on their upkeep, and will be devastating to tenants.
Those who think such a measure would only hurt landlords who somehow deserve it aren’t thinking it through.
I’m sure the comments here will be well considered and grounded in economic reality, oh wait…
I know this is going to be unpopular but I have a second house and I want to clarify something.
The rent isn’t nearly as lucrative as some people seem to think.
My tenants rent covers the maintenance of the property. There is a great deal more maintenance needed on a rental property than on my own.
Then of course there is the mortgage.
All in all about 20% of rent is profit. And actually being a landlord is a huge amount of hard work. Being on call all day every day.
Then there is the risk of a bad tenant. The laws don’t protect landlords any more than they protect tenants. I can go in to more detail if needed.
All in all I have found being a landlord as difficult and frustrating as being a tenant.
I agree that tenants have it difficult. And there are a lot of bad landlords put there. I just wanted to clarify that being a landlord isn’t an automatic golden egg.
The landlords with one or two extra houses will get shut. The companies with 100’s or 1000’s will snap them up and guess what. Massive rental increases in the future. Very few in 2008 ended up back owned by Joe Public. Landlords buy of Landlords.
Go to your average renter and ask “if the landlord let you buy this house today for 20% less than todays market value?” how many of them could afford it. I am going to say its a tiny number.
Either way, what ever happens the rents are going to go up. Blame the fuckwits in charge or the banks not the landlords.