Are PRS Landlords Any Better Off
After The Election?
UK private rental sector landlords may have breathed a sigh of relief after the general election results were announced last week, but is the future still rosy for the PRS?
The Conservatives may have been voted into Government by a small majority over the other political rivals, but will all the election promises be kept or is it more likely that we will see additional legislation concerning rent caps, longer tenancies and changes to tenant’s rights being introduced via other means?
The way I see it, the future under a Conservative Government will be no different from the experiences of the last 5 years.
The main targets will still be PRS landlord’s and letting agents and the victims will always be the tenants.
PRS landlords purchase properties to generate regular income from rentals, with the hope of eventual capital appreciation of their property assets, they provide housing for those that want it and offer properties to rent at reasonably affordable levels. From my own experience, most PRS landlords are not interested in fleecing tenants for every penny they have, we are not all rogue operators, although to read many of the newspaper scare-mongering reports, we are only interested in money.
When will politicians, the media and the general public finally realise that property rental is a business, money does make the world go around but please lay off trying to push good landlords out of business by punishing the majority for the misdemeanours of a few rogue landlords or sully the reputation of the whole UK lettings industry because of a few poor letting agents.
I am a professional landlord, and have been for years, treating tenants with courtesy, the utmost respect and a sense of common decency, even for the properties I let and manage on other landlord’s behalf, does that make me a bad person?
All prospective tenants are properly tenant referenced and their suitability is checked. We always try to ensure that prospective tenants can afford to pay the rent for a property before we offer them a tenancy.
We provide tenants with decent and safe rental properties that they can call home for as long as they choose to live there, and all at market rental prices, there is no point to ripping people off, all this does is create a bad reputation and after a while that reputation will make people steer well clear of you, which is bad for business.
True, there will always be rogues in every sector of life and business, but it is not fair of campaigning bodies to label all PRS landlords as the scum of the earth, they should be singing the praises of the PRS landlord because at least we provide needy people with the housing that they require, many local authorities are so badly oversubscribed for social housing that they are unable to accommodate all applicants, whereas PRS landlords will always try to find a decent solution for those that have the ability and willingness to pay.
Whilst I am in favour of better regulation of the UK’s private rental sector, I do think that the introduction of any further red tape may be harmful to the industry and I would request that any additional regulations are made with everyone’s interests at heart – Landlords, tenants, letting agents, local authorities AND Government.
The way the PRS stands at the moment, many landlords don’t want to house tenants claiming benefits because of the rigmarole that goes with renting to claimants and the common delays in receiving monthly payments and local authority payments are always in arrears.
Why can’t landlords make tenants sign credit agreements for the length of the offered tenancy and shouldn’t tenants be forced to pay for services up front like the rest of us have to. Tenants wouldn’t attempt to walk out of a supermarket claiming that they will pay for their shopping after they have eaten it, would they?
Why should the private rental sector and PRS landlords be any different?
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