Rent Review Served - Tenant not paying increase

My biggest fear is not being able to sell when I retire..
Would hate to be lumbered with a rental and all the lark that goes with it, when Im retired especially since I intend to spend alot of time out of the country...

Can you imagine the free for all when landlords have no comeback (not that they have much now)... sure why would tenants pay any rent at all if landlords cant get rid of em?
 
JamieB_ said:
I think the issue is that a problem tenant can now cost a landlord tens of thousands. All well and good if you never have a problem tenant.
Not so well and good if you ever get one and have no way out.
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Thats only half of it, how about not being able to sell - ever... nightmare
 
Palatine said:
Apologies for my rather hastily written post 37 above. Rather arrogant and know-all.Sorry.
I suppose I've had it relatively easy compared to the horror scenario that Jamie 38 mentions.
And I've usually found dealing - sparring - with officialdom no great problem.
But reading Greenwood's post 39 is causing a slight dent in my optimism.
Damn!
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I have great tenants, perfect really... however as I have been keeping an eye on things and can see the direction its going, I reluctantly evicted...
Any landlord that is not evicting now, is either ignoring the risk or doesnt know the risk (they will regret)..

I just hope their aint any surprises down the line for my eviction.. I want rid ASAP
 
Palatine said:
Unless one bought property in the peak-price period ,many landlords have seen their investment double or even triple in value -and they would have been getting a better return on their investment than many "safe" investments
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That doesn't make it a good investment in the future.
 
Palatine said:
compared to most businesses, involves far less red tape
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Compared to some other small businesses, there may be less red tape at the start up stage. The main difference that I can see is that any other small business can close up overnight, or with x numbers of weeks notice to staff, suppliers and clients.

There is no other small business that I can think of where an owner is restricted on when and how they can quit the business completely or where they are compelled to sell that business to another individual who wants to enter that business. If there are no buyers, a landlord would be stuck.

Or where the customer (the tenant in a rental business) can overhold and consequently strangle the owners wishes to stop providing the service for an extended period of time.

There could be examples that I’m not aware of.
 
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Colin4444 said:
Any landlord that is not evicting now, is either ignoring the risk or doesnt know the risk (they will regret)..
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Anyone staying in is either burying their heads in the sand or doesn't understand the new rules. One landlord I spoke to recently thought that you could still evict to sell during the 6 year tenancy! I bet there's plenty like that or in the 'sure it'll be grand' school of thought.

Alot of those will get themselves into serious hot water - I bet solicitors and barristers are licking their lips at the lucrative line of business that is coming their way
 
I understand many reasons outlined in previous posts for wanting to quit letting properties.

But I dont understand why some posters want to quit immediately, especially if they have good tenants.

Under the new law no landlord will be prevented, now or in the future, from evicting tenants in order to sell their properties - as long as the tenancy commenced before 1 March 2026.
Am I wrong?
 
Palatine said:
Yes, there are more and confusing/contradictory rules in letting propery. Just as there are in running most small businesses . Non stop regulations regarding employees, Health and Safety, insurance costs etc etc. plague other businesses far more than smaller lanlords,
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Can you name another line of business that is mandated by law to charge less than inflation? Over the last 5 years a landlord doing annual rent reviews could only increase rent by c8% while CPI inflation increased by 24% and national wages also increased by 24%. It's a road to ruin for landlords.



Palatine said:
Under the new law no landlord will be prevented, now or in the future, from evicting tenants in order to sell their properties - as long as the tenancy commenced before 1 March 2026.
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We've had 2 eviction bans in the last 10 years, for tenancies under existing rules. Thankfully they turned out to be temporary. We were told back in 2016 rent pressure zones would only last for 3 years, yet here we are 10 years later. We know the government are wilfully misleading on other aspects of the housing market. Why would one trust the government that existing termination grounds will exist for existing tenancies? The left are shouting more and more for a total eviction ban on all tenancies.
 
stormy said:
We've had 2 eviction bans in the last 10 years, for tenancies under existing rules. Thankfully they turned out to be temporary. We were told back in 2016 rent pressure zones would only last for 3 years, yet here we are 10 years later. We know the government are wilfully misleading on other aspects of the housing market. Why would one trust the government that existing termination grounds will exist for existing tenancies? The left are shouting more and more for a total eviction ban on all tenancies.
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Also told less than a year ago that RPZs were about to be removed and that landlords could get back to market rent.
 
stormy said:
It's a road to ruin for landlords.
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That is exactly what the PRS is now
JamieB_ said:
Also told less than a year ago that RPZs were about to be removed and that landlords could get back to market rent.
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Yes when all the indications were in June that rent controls would be eased, they were made permanent and nationwide and a 6 year or permanent eviction ban brought in depending on landlord type. So anyone who believes their assurances that they won't apply an eviction ban to pre March 26 tenancies is very naive. Anyway, if you continue renting under a current tenancy it'll be at the RPZ sub-market rate and it seems that can't be changed - the road to financial ruin
 
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