- cross-posted to:
- unitedkingdom@feddit.uk
- cross-posted to:
- unitedkingdom@feddit.uk
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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?
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 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.
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
good maybe price of houses can come down.
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.
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.
That is happening regardless.
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.”
Don’t you have to have a job to quit? How would a landlord quit?
sell
You can also quit smoking, or heroin
Parasites detaching after the tiniest amount of medication is used.
“quitting” as if leeching is a job.
The barnacles on the hull of society might have to get a job
My neighbor has been trying to get their house rented after it didn’t sell for 1.3million. Now they’re paying the monthly mortgage for several months now. It doesn’t seem like anyone is interested at practically $4000/month. Who would pay that mucho wonder. I bet the previous generation felt exactly the same as inflation was swallowing them into homelessness… I.e. me, I could be underpaid and not know it. CuzI had to pay that rent I would not be able to afford where we live. We would need two incomes over $120,000 each. Crazy.
My brother and sister-in-law were considering renting a house in that price range. The reason is that they were sending their two kids (1st and 3rd grade) to a private school with a $30K (each!) tuition, so paying around $4K per month for a house in a good school district would have actually saved them money. Eventually they came to their senses and just bought a house in a good school district instead.
That’s brain dead thinking they can sell any house at 1.3 millie. I hope that house sinks them.
I don’t hope bad things on them but that house was definitely a 950k hot potato. Now there’s no way they could sell or rent it at any reasonable price that was good for them or the renters. They will just have to take a loss.
Lol that is standard for a standalone (and even some townhouses) where I live 🥲
Typical houses in my area start at $1m. Anything under that is a fixer-upper.
They didn’t math right because 4000 matches a price point below 1.3 million. So they’re selling themselves short on rent when they could have sold for the matching 7 out 8 hundred thousand dollar price point lol.
Awww… couldn’t happen to a nicer group of blokes, too.
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
that should be the goal. make it pointless to rent and let people buy homes for themselves
Renting can be a good option, especially when you consider the way equity vs interest are structured in the first few years of a mortgage. It’s 99% interest at first, and then it slowly inverts year-over-year, which sure feels like renting my house from the bank for the first ten years… but I can’t call up the bank and make them fix my electrical, plumbing, or appliances.
It would be nice to see a ban on renters snapping up existing properties, and a limit on how long single family newly constructed homes can be kept as rental properties.
prices would go down to affordable if renting was unprofitable. and even if you have to buy in, eventually you own the equity and even now with housing prices and interest rates high, it’s still cheaper to pay a mortgage than rent and A LOT of renters are scum that won’t even maintain your building.
Landlords can’t quit, it isn’t a job.
They could quit being alive. That would be pretty cool.
Don’t you need a job in order to quit?
Probably means consolidation
