RTB - I'm out
- Thread starter Colin4444
- Start date
Thats the next problem
Not a bad auld problem to have in fairness. Best of luck with it.
I'm not a landlord but I've been following the the reverse lemming trend (forgive the analogy) in AAM and locally. 4 houses in our estate now out of the rental market, the latest last week after a looooong time with a for sale sign up front. The word on the street was the asking was nuts. Only one for sale sign left.
I'm not a landlord but I've been following the the reverse lemming trend (forgive the analogy) in AAM and locally. 4 houses in our estate now out of the rental market, the latest last week after a looooong time with a for sale sign up front. The word on the street was the asking was nuts. Only one for sale sign left.
no more tenants 
Bronte mentioned "stressful"... The "funny" thing is that most of stress caused to me as a landlord did not come from the tenants, or the "at hand" business of "Landlording". I could deal with the breakdowns, leaks, mystery stains, redecoration, insurance companies etc. etc.
My tenants never complained.. When something went wrong, I addressed it promptly...
It genuinely was the never ending cascade of rules and regs and pure vitriol directed at Landlords from almost all quarters including some politicians.
Simple mistakes that can end up with us having "Criminal" convictions.. that's unreal...
Cap that with RPZ, precise dates required on notices, tightened standards beyond what is reasonably required to live happily and healthily in a property etc. etc.. I still have a folder on my PC for almost every year with each stuffed w pdfs of "new" rules and regs for that year...
The last straw for me that cemented this anti-landlord activism was the mandatory inspections every 4 years - when tenants already had the right to ask a local authority to inspect.
We're left with a byzantine, monstrous self perpetuating system that just gets bigger, more complex and more expensive every year that, in the long run, is doing tenants (and taxpayers!) no favours.
I cannot think of any other sector with as many rules and regs..
Given that most of the rental market had been "Mom and Pop" owners, some reasonable simplicity in the approach to regulation should have been taken. Not this absolute legal mess it's grown into that even the RTB themselves seem to have trouble interpreting at times (e.g. the contradictory outcomes highlighted in the "RTB Case Studies" thread...).
I'm glad I'm out, but at the same time I'm sorry I was pushed out - I feel the government has killed my business - one that I was otherwise "good" at!
My tenants never complained.. When something went wrong, I addressed it promptly...
It genuinely was the never ending cascade of rules and regs and pure vitriol directed at Landlords from almost all quarters including some politicians.
Simple mistakes that can end up with us having "Criminal" convictions.. that's unreal...
Cap that with RPZ, precise dates required on notices, tightened standards beyond what is reasonably required to live happily and healthily in a property etc. etc.. I still have a folder on my PC for almost every year with each stuffed w pdfs of "new" rules and regs for that year...
The last straw for me that cemented this anti-landlord activism was the mandatory inspections every 4 years - when tenants already had the right to ask a local authority to inspect.
We're left with a byzantine, monstrous self perpetuating system that just gets bigger, more complex and more expensive every year that, in the long run, is doing tenants (and taxpayers!) no favours.
I cannot think of any other sector with as many rules and regs..
Given that most of the rental market had been "Mom and Pop" owners, some reasonable simplicity in the approach to regulation should have been taken. Not this absolute legal mess it's grown into that even the RTB themselves seem to have trouble interpreting at times (e.g. the contradictory outcomes highlighted in the "RTB Case Studies" thread...).
I'm glad I'm out, but at the same time I'm sorry I was pushed out - I feel the government has killed my business - one that I was otherwise "good" at!
[IPAV’s Chief Executive, Genevieve McGuirk] "said that the system of control and regulation introduced in recent years has “transformed the relationship between landlords and tenants, ridding it of flexibility and affordability, and replacing it with legality at every turn”.
What a great way to sum it up..
Couldnt agree more, that is my sentiment as well.. Would have preferred to sell up in 10 years time approx when retiring, but I couldnt be 100% sure I would be able to then... the last thing I need when retired is to be a landlord...
Amazing. Recently FB has been showing me lots of UK news stories on the foot of what I believe were changes to tenancy legislation this year/recently. I'm only glancing at the headlines (but that is enough for FB to give me more), and the overall sentiment is very similar to what we discuss here - tenants getting more rights and landlords pulling out as a result.