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I don't read the Sun but this caught my eye this morning
I strongly believe we will have some sort of Rent Control
Learn Change and Adapt ?????
"There will also be action to help renters, by increasing good tenants’ security and ending unfair leaseholds" hardly the same as the shock headline. Don't see anything there about rent controls. I can't yet see the full Tory Manifesto to compare.
Time will tell on this one ?
Yes the Conservative Manifesto has not yet launched, though it is due to in a few hours.I doubt its rent control - if anything. It will probably be just the Lettings Fee Ban again.
Looking for the Best BTL Mortgage? Call the Specialist Team at Bespoke Finance. The above is not financial advice, its me rambling - just passing time on a coffee break.
I think it's only a matter of time before rent controls are introduced.
The only question is whether or not they are set at LHA levels.
The only thing that could prevent this happening is strong lobbying from the BTR institutions.
Unfortunately, I can envisage them being given exemptions that won't apply to us.
But wouldn't that result in two-tier rental pricing, and tenants would just choose the cheaper option, presumably the rent-controlled one, leaving BTR with no customers?
we have two tiers now Andrew Council and Housing associations who charge less rent than the PRS
so what would stop them
I meant within the PRS itself - most tenants don't start off choosing between public and private rental sectors, they're simply not eligible for the former.
Agreed Andrew, and yes, you're right about two tier pricing.
I'm seeing examples of this in London already.
BTR flats in N. London for example, are more expensive than the existing market.
I don't take HB tenants and always prefer professionals.
If my rents are kept to LHA levels, it just wouldn't be worthwhile.
It's the same in student housing, there are those who don't mind paying twice as much for a pod
than a room in a shared house.
LHA rent rates are set at the 30th percentile for the area, if all rents are set at that level then rents will decrease resulting in the 30th percentile being ever lower.
Green Party want the use of 35% of average take home pay
I did a fag packet calc and that would be just over the LHA rates in my area
so I feel its a distinct possibility that this will become a Govt policy
just going on there past track record
Average income in the north is around 18K so that would make a rent of around £6300 a year £525 PCM which brings it roughly in line with the 3 bed LHA rate I the NE
Look at the LHA rates where you are and I bet it works out the same level 35% of average uk is 26k average rent will be £9100 ie £758 pcm
If this was to happen it would make S24 feel like a none event