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I was out at a Family Birthday last night and we all sat around after the meal drinking and having a general chat
There was 12 of us all different ages and different backgrounds - some were home owners some were tenants, especially the younger ones
I brought up the subject of rent control and should it be used ?
I asked for a show of hands of the ones who favoured rent control and ALL of them were !
Now this got me thinking and I tried to give a good reason why I thought it was a bad idea ...
But I found I could not come up with a firm argument to try and change the minds of my family
I know Twelve family members is a tiny sample and it probably means nothing
But the fact was there - I believe strongly if a Major party announced rent control it would be a vote winner
I am sure most here would not welcome Rent Control, but as we know our opinion counts for little
Do you think its a Vote winner and if you had a family get together how do you think your family would vote ?
When you think of this, try and put yourself in the seat of the general public not a Landlord, I think most would support Rent Control or caps
And If it were to happen how would you cope as a Landlord ?
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
Depends what the raise is set to. If it's inflation that's ok because most rents don't rise by inflation. If it's less than inflation then that'll be time to exit.
I can see your point How would Rent Control be set
Long ago when I first started we had a Fair Rent Officer in the council office who set rents
Today the Govt has Live Data from the LHA register so it could find a level quite easily
The point you made about rent increases used to happen I think a Landlord got a rent increase every two years
I personalty dont fear Rent Control as rents are not high in the North East rents now are around LHA levels
LHA rates are no good for London, we raised the rent for our last LHA tenant because the LHA rate was so low (£190pcm too low in case you're wondering) and he moved on, which was a miracle as he had been bidding on LA property for four years and getting no where, suddenly, with the prospect of eviction looming due to rent arrears, they found him a place, just like that. The motto of this story is never believe a word that the lying staff at any LA tell you.
I find LA for strange anyway
Newcastle City Council on one hand support the Landlord offering there services to vet a tenant ect and run a large Landlord show once a year for free
on the other hand there environmental health dept want to licence every house for £750
My Gutt feeling is as More Large Landlords come to the market and as more Councils build we will see a change in the market
If rents were set for the same level for Councils Housing associations and the PRS there would be no need for a tenant to move because a PRS rent was higher then the rest
I know LHA rates in the NE are not a great deal higher than Council rents
I know the south will be different in that regard but the likes of the London Mayor would welcome rent control if it was brought in over say 5 years rent freeze and then an introduction of a fair rent
The has to be a PRS but I feel it will be regulated more and more including rent control Its just the rate to argue over
Interesting. The LHA for one of my 3 beds in a London Borough is also exactly £190 less than the tenants are paying. ie £1210 vs £1400. I say paying, they are currently over £4000 in arrears. If I ever get them out and refresh the property it could be more like £1600, but it won't be, because I will be selling not reletting after the miserable experience of this shower of *****. No idea where they will go though if they don't change area.
We don't do LHA or Benefit tenants any more, they're just not worth the aggravation.
The answers are likely to be dependent on how the question is asked -
Would you support rent control if annual rents were limited to 5% of the property value?
Would you support rent control if the number of rental properties available reduced by 80%?
Would you support rent control if increases were limited to CPI?
The general public would also be in favour of capital punishment!
as the referendum showed asking the public on almost anything is not a good idea as they largely don’t understand the implications behind the headline “benefit”
we elect political parties to make complex decisions on the general public’s behalf - that is of course how it is supposed to work.
**Brexit Tangent Shield Up**
The people aren't thick, the people are sovereign.
It's the politicians who have f**ked Brexit up and failed to carry out a simple instruction.
**Brexit Tangent Shield Down**
The market finds its own level at the end of the day
Rent controls like all other controls are worked around - often legally often illegally
Market forces determine rent levels
Demand exceeds supply rents go up
Supply exceeds demand rents go down
Jonathan Clarke. http://www.buytoletmk.com