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  • Buy-to-Let

    Industry apathy comes home to roost!

    One would hope so

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    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.

    Great set of comments! There is a unified voice that speaks to the government and has for sometime: https://thelettingscouncilcouk.wordpress.com/ We have representatives from all different sectors within lettings - including tenant groups and MHCLG are there too. It's not easy getting messages across, but we are getting there.

    With regards to agents, it's estimated around 20% will go under in the next year or so, mainly because they won't be able to get CMP and then will lose their tenant fees, so will either go bust themselves or be forced to close down. I don't think agents will 'disappear'. There are plenty of landlords who work abroad, others who don't want to be 'hands on' and they absolutely need to be looked after by a good agent. And keeping up with the 400+ rules and regulations coupled with increased fines/jail etc is tricky if you work full time, so there will always be those that don't want to take the full responsibility.  

    Regulation is being worked on for agents and I am very excited that this will make a substantial difference to the sector as although some operate amazing services for landlords and tenants, the consistency isn't there and this is much needed. However, my view is their 'job' needs to change more to an advice and management service on 'putting safe roof over people's heads' ie not just 'letting' and 'selling' property. Again, some already do this quite well, others will need to catch up.

    At the moment the government is doing some good things, but there is still not as much 'joined up thinking' as the market needs - landlords are seen as a 'problem'. We won't change this overnight, but I do think things are moving in the right direction and I believe the view that landlords are people who 'add value' rather than being 'part of the housing problem' needs to be changed and given another year or so, this will hopefully happen.

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    mainly because they won't be able to get CMP

    Out of interest why won't they be able to get CMP?

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