The Negotiator is a trade magazine that “serves the residential property industry, specifically targeting estate and letting agents and their suppliers”. The original source for this news is https://www.telegraph.co.uk/money/property/buy-to-let/landlords-quit-rental-market-at-fastest-rate-in-a-decade, which is mirrored by https://www.aol.com/articles/landlords-quit-rental-market-fastest-094056000.html .
In addition: The Telegraph is a rightwing rag who are automatically against anything Labour does. Apart from their right-wing bias, in the last few (3?) decades they’ve seen a decline in quality to the level of gutter journalism, so they have no credibility and their claims are basically meaningless.
I agree, but I would believe them when they’re saying Labour’s doing a good thing, especially when they don’t realize that’s what they say.
I must be used to American rightwing media because this Telegraph article seems downright neutral by comparison haha. Also, I have a question. It says that one of the things this bill does is abolish “fixed term tenancies”. Does that mean, for example, that someone could just move in for a month and then move out?
Yeah the Telegraph is subtle about it. They exercise their bias more through selective reporting, rather than slanted language.
I’m not from the UK myself, I’ve just read some trash tier articles from The Telegraph in the past. Articles written with long words, but still obvious falsehoods. Which is a shame, because they didn’t use to be like that. Wikipedia lists some of their controversies (see history since 2004): https://en.wikipedia.org/wiki/The_Daily_Telegraph
About the new law:
“Fixed-term tenancies mean renters are obliged to pay rent regardless of whether a property is up-to-standard, and they reduce flexibility to move in response to changing circumstances, for example after relationship breakdown, to take up a new job or when buying a first home.Instead, all tenancies will be periodic, with tenants able to stay in their home until they decide to end the tenancy by giving 2 months’ notice. This will end the injustice of tenants being trapped paying rent for substandard properties and offer more flexibility to both parties to respond to changing circumstances.” https://www.stirlingackroyd.com/property-insights/fixed-term-tenancies/
That fucking rules. Expected to job hop to increase your pay but also stay in the same place for 6 - 12 months?
That’s wild. I wish America had something like this! I once signed a two year lease just to get picked over another applicant, because I really needed a place close to work.
It means that the landlord can’t force you to sign a contract for a year or whatever, you can always give notice and leave.
Yeah, from that it sounds like the implication of a supply crunch pushed by the original article is highly misleading:
The analysis suggested that rents were flat across the country, increasing by just £4 to an average of £1,475 a month compared to last year.
However, stock across the rental sector still increased year-on-year, driven largely by new build-to-rent properties coming on to the market. Available properties increased by 1.3pc on average, reversing years of decline.
The data showed 7pc growth in rental properties costing between £800 and £1,500 a month, while the number of more expensive rentals on the market declined.
So even though existing properties are leaving the UK rental market, if you factor in new construction it’s a net gain and affordable rentals have increased, facts it omitted entirely.
Wow that telegraph website is absolute arse
" quitting in droves" Selling their properties to people who want to live there
So, this might not be the great news folks think it is…
I own a bunch of ancient freeholds (“peppercorn rents”), so I keep track mostly for folks looking to develop the land (I.e. buy the land off me).
Recently, a lot of rented houses got sold, and bought up by “property management” companies.
This appears to be a consolidation rather than a capitulation sadly. The properties are going under the umbrella of larger firms with better lawyers.
We desperately need to forbid companies owning personal homes. Thus simply should not be possible for a business to own homes.
This appears to be a consolidation rather than a capitulation sadly.
Nothing new. Consolidation of property has been happening in England since the Enclosure Acts.
The Renter’s Rights legislation is purely a scapegoat. Unless someone can explain how renter rights won’t apply to property management firms, it remains an improvement overall.
Good, bye bye. Don’t let the door hitcha ass on the way out. If you can’t obey regulations then you shouldn’t be in business.
There will still be tons of demand for housing, which means plenty of landlords will see that $$$$ and make it work.Parasites detaching after the tiniest amount of medication is used.
“44,000 rentals have been sold” - No buyers tho! They’re being sold to the great void! 🤣
They’re being sold to large corporations. Not normal people.
The barnacles on the hull of society might have to get a job
Could somebody post a high-information content version of this?
Don’t you have to have a job to quit? How would a landlord quit?
You can also quit smoking, or heroin
sell
Arson.
Probably means consolidation
Good!
I had my college degree sabotaged by these shitstains. I would have needed an apprenticeship, but couldn’t get one in Budapest without a Budapest home address, but every piece of shit needed a Porsche SUV to take their brats to private schools.
Even if it doesn’t happening in my home country, I’m happy to see these wastes of oxygen and other resources (especially raw iron and fuel on their luxury SUVs) suffer a bit.
The population of ethical landlords needs to be massively expanded.
And by ethical, I mean former.
You know, if most landlords quit, their property doesn’t end up in your hands. It ends up bought by a smaller number of more organized corporate landlords. Do you want an oligopoly? Because that’s how you get an oligopoly.
Uhhh, there’s also the ROAD To Housing Act, which punishes corporate ownership of homes; so they’re fighting that too.
“Never fight your oppressor, or a bigger oppressor will beat you harder! Always be thankful for the abusive husband you have because he hasn’t chopped any of your limbs off.”
That is happening regardless.
Yeah everyone seems to think the properties will end up in the hands of owner/occupiers. What likely will happen is they will get snapped up by corporates. The bigger they get the worse it will be. There are some shitty individual landlords out there for sure but I can guarantee that EVERY corporate one will be evil incarnate… law of unintended consequences will slam hard here
This is not a reason to not protect renters. Ultimately we will need renters’ unions and rent strikes to gain affordable housing, regardless of ownership.
It should but it wont.
Good? Where did I leave the “Well, anyway” meme…
Landlords can’t quit, it isn’t a job.
They could quit being alive. That would be pretty cool.
They… quit? So they’re letting people buy the places people should live in without a middleman leech profiting off of them?
No they’re just selling to bigger middlemen in property management corporations.
More likely to be property management companies, not individuals
