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"Two years is a long time though. Surely 12 months is enough. Aren't most rents renewed yearly anyway?" I don't know what the law currently states but I'd imagine 6 months to be more than enough. I heard 'agent fees' for contract renewals were now outlawed so instead of renewals, they switch to monthly rolling after the end of a tenancy period. Not sure how true that is though. | |||
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"it used to be acceptable to sell a property with a sitting tenant, now greedy landlords seem to think they have to chuck the tenant out before selling to maximize their profits " Also under these proposals, tenant has first shout on purchasing the property if landlord selling. | |||
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"it used to be acceptable to sell a property with a sitting tenant, now greedy landlords seem to think they have to chuck the tenant out before selling to maximize their profits Also under these proposals, tenant has first shout on purchasing the property if landlord selling. " What would be the rules for this, if another person was interested in purchasing and offered a higher amount as an example | |||
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"As the law currently stands, only 1 rent increase per annum allowed. There is a real risk of killing the supply side as has happened in Dublin, Edinburgh, Berlin etc. Dodgy landlords are already switching to airbnb. Almost no regulation, all rent paid in advance and no right of tenure for the customer, Just like any other hotel or guest house. We are heading back to the seventies when the PRS sector didn't exist." The Tory’s had already proposed in April this year, no more holiday let’s without full planning permission, claiming of mortgage interest against tax to end and a national register (grandfathering in) of existing holiday let’s. | |||
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"it used to be acceptable to sell a property with a sitting tenant, now greedy landlords seem to think they have to chuck the tenant out before selling to maximize their profits Also under these proposals, tenant has first shout on purchasing the property if landlord selling. What would be the rules for this, if another person was interested in purchasing and offered a higher amount as an example" "it used to be acceptable to sell a property with a sitting tenant, now greedy landlords seem to think they have to chuck the tenant out before selling to maximize their profits Also under these proposals, tenant has first shout on purchasing the property if landlord selling. What would be the rules for this, if another person was interested in purchasing and offered a higher amount as an example" Labour’s key Renters Reform Bill amendments: Introduce ban on no-fault evictions from day one of office Insist landlords wait to claim intention to sell or move in a family member for at least the first two years of a tenancy – currently they only have to wait six months **Landlords must offer their property for sale to the tenant before trying to evict them on grounds of needing to sell** Pecking order Tenant has first right to purchase. More details will come I expect These are major changes to protect tenants accommodation. | |||
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"it used to be acceptable to sell a property with a sitting tenant, now greedy landlords seem to think they have to chuck the tenant out before selling to maximize their profits Also under these proposals, tenant has first shout on purchasing the property if landlord selling. What would be the rules for this, if another person was interested in purchasing and offered a higher amount as an example" 99% of tenants won't be able to buy anyway. Not with paying rent and everything that goes with it. Obviously there will be the odd fee that come into some money. | |||
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"Two years is a long time though. Surely 12 months is enough. Aren't most rents renewed yearly anyway?" "I don't know what the law currently states but I'd imagine 6 months to be more than enough." The initial contact guarantees 6 months of tenancy, and after that it goes to 'by the pay period' (e.g. monthly or weekly, or quarterly, etc). "I heard 'agent fees' for contract renewals were now outlawed so instead of renewals, they switch to monthly rolling after the end of a tenancy period. Not sure how true that is though." You heard correctly. Agents used to be able to charge a 'renewal fee' for a new contract, so they insisted that you sign a new one as soon as the initial period was up. They then charged around £100 to both the tenant and the landlord for 'drawing up', which basically involved changing the dates on the paperwork. Happily that's been banned. Most agents and landlords now let contracts go to 'rolling', which is easier, but fraught with danger. A lot of mortgage companies insist that the tenant always be under contract, and can repossess a property if they find that the tenant has acquired 'rolling contract' rights. | |||
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"Two years is a long time though. Surely 12 months is enough. Aren't most rents renewed yearly anyway? I don't know what the law currently states but I'd imagine 6 months to be more than enough. The initial contact guarantees 6 months of tenancy, and after that it goes to 'by the pay period' (e.g. monthly or weekly, or quarterly, etc). I heard 'agent fees' for contract renewals were now outlawed so instead of renewals, they switch to monthly rolling after the end of a tenancy period. Not sure how true that is though. You heard correctly. Agents used to be able to charge a 'renewal fee' for a new contract, so they insisted that you sign a new one as soon as the initial period was up. They then charged around £100 to both the tenant and the landlord for 'drawing up', which basically involved changing the dates on the paperwork. Happily that's been banned. Most agents and landlords now let contracts go to 'rolling', which is easier, but fraught with danger. A lot of mortgage companies insist that the tenant always be under contract, and can repossess a property if they find that the tenant has acquired 'rolling contract' rights." Thanks for the clarification. Would an mortgage company often ask to see a tenancy agreement? And if so, what stops the landlord 'providing one'? I doubt they'd ask the tenant (probably not legally entitled to their details). | |||
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"Two years is a long time though. Surely 12 months is enough. Aren't most rents renewed yearly anyway? I don't know what the law currently states but I'd imagine 6 months to be more than enough. The initial contact guarantees 6 months of tenancy, and after that it goes to 'by the pay period' (e.g. monthly or weekly, or quarterly, etc). I heard 'agent fees' for contract renewals were now outlawed so instead of renewals, they switch to monthly rolling after the end of a tenancy period. Not sure how true that is though. You heard correctly. Agents used to be able to charge a 'renewal fee' for a new contract, so they insisted that you sign a new one as soon as the initial period was up. They then charged around £100 to both the tenant and the landlord for 'drawing up', which basically involved changing the dates on the paperwork. Happily that's been banned. Most agents and landlords now let contracts go to 'rolling', which is easier, but fraught with danger. A lot of mortgage companies insist that the tenant always be under contract, and can repossess a property if they find that the tenant has acquired 'rolling contract' rights." It will be interesting how lenders respond to the proposed changes. Currently an AST becomes periodic after six months. Under RRB proposals the ‘assured short hold’ effectively ends. All ‘tenancies’ will be periodic with two years notice proposed fir landlord to end it. | |||
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" All of these houses, converted into three or four flats in the 70s, are now being returned to single dwellings and sold. At a stroke reducing the number of homes by 66 - 75%." Where did you get this incorrect information . | |||
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" Would a mortgage company often ask to see a tenancy agreement? No. (Except at a time of purchasing or remortgaging a property with existing tenants, to ensure that an agreement is in place). And if so, what stops the landlord 'providing one'? I doubt they'd ask the tenant (probably not legally entitled to their details). Can’t think why it would be in anyone’s interest to withhold it. The mortgage conditions will no doubt say all tenants must be signed to an AST. And exclude other types of tenancies, commonly let’s to housing associations are not permitted "  | |||
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"Would an mortgage company often ask to see a tenancy agreement? And if so, what stops the landlord 'providing one'? I doubt they'd ask the tenant (probably not legally entitled to their details)." Normally they wouldn't bother checking, as long as you keep making the monthly payments. When it all goes wrong is if there's an insurance claim. The insurance company will contact the mortgage company to check that you're allowed to let it out. At that point the mortgage company will ask you for the tenancy agreement, to make sure you're in compliance. A worried landlord might then be tempted to 'provide' a signed contract. However the insurance company will be dealing directly with the tenant to arrange repairs, and if they ask the tenant for a copy and find that it's different to the one supplied to the mortgage company, you suddenly have no insurance, and a repossession for mortgage fraud. | |||
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"Labour proposes amendments to the renters reform bill, a two year notice period to tenants from owners wishing to sell the property. This will give people more security in their home. " It feels nice to be discussing proper grown up policy suggestions after so many years of division, sleaze, nepotism, scandal etc | |||
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"Big fan of making this market more professional. It's neither helpful for renters or rentees (who are leveraged and/or have more liquid needs than property gives) Not sure this how I'd do it. I don't fully get how supply goes though unless people want to sit on empty houses. Air BnB will only go so far and only really works for the better landlords. " Supply dwindles because it is easier to sell than rent it out. | |||
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"Big fan of making this market more professional. It's neither helpful for renters or rentees (who are leveraged and/or have more liquid needs than property gives) Not sure this how I'd do it. I don't fully get how supply goes though unless people want to sit on empty houses. Air BnB will only go so far and only really works for the better landlords. Supply dwindles because it is easier to sell than rent it out. " I wonder how many renters would buy of house prices were lower and therefore how much the supply / demand ratio will change. | |||
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"Big fan of making this market more professional. It's neither helpful for renters or rentees (who are leveraged and/or have more liquid needs than property gives) Not sure this how I'd do it. I don't fully get how supply goes though unless people want to sit on empty houses. Air BnB will only go so far and only really works for the better landlords. " On the holiday and air bnb, announced by Jeremy Hunt from April 2025 owners of these furnished holiday let’s (FhL) will no longer be able to claim any finance costs. And there is to be a national register of this use class, existing to be grandfathered in and new requires full planning permission. I can’t see Labour unpicking this. For a new operator you would need to buy an existing holiday let and if borrowing money cannot claim against tax. On the one hand it protects local housing going to second/holiday homes so they stay in rental or owner occupied supply chain. On the other it impacts on the tourism industry. The self catering market is substantial https://www.pkf-francisclark.co.uk/furnished-holiday-lets-abolition-of-preferential-tax-regime-from-april-2025-budget-2024/ https://dluhcmedia.blog.gov.uk/2024/02/19/department-announces-changes-to-short-term-lets-rules/ | |||
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"Same applies to HMOs. Instead of providing rooms for ten people, they will revert to housing one family. Right of first refusal clearly unworkable in an HMO and can easily be avoided in other properties if owned by a company. Sell the company shares, not the property. The same loophole has existed for freeholders since the 80s." Not clear yet if hmo use class C3 / C4 will be subject to this. I think the proposal is aimed at small family houses and flats in private rented single tenancy use. | |||
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"Big fan of making this market more professional. It's neither helpful for renters or rentees (who are leveraged and/or have more liquid needs than property gives) Not sure this how I'd do it. I don't fully get how supply goes though unless people want to sit on empty houses. Air BnB will only go so far and only really works for the better landlords. Supply dwindles because it is easier to sell than rent it out. " Yes. On this wondering if they will delay increases in capital gains (tories recently reduced it to 24% for higher rate taxpayers possibly as an incentive to get out). If the renter reform changes push landlords to sell up (2000 a month) the properties should stay in owner occupied market, if tax increases go in hand with RRB changes the owner is snookered There has been talk of equalising capital gains tax rates with income tax rates A lot of landlords incorporated portfolios to enable mortgage interest claim to continue, not really viable for a small landlord. They have not said yet if mortgage interest claims will be affected in any way if the property is owned by a company. Depending on how these renter reform and tax changes are rolled out it will bring more rental properties into the market for sale but this will impact on availability of rentals ? The PRS provides homes to about 5 million households (fifth of uk households) https://amp.theguardian.com/money/article/2024/may/15/landlords-selling-up-england-homelessness-renting | |||
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"Would an mortgage company often ask to see a tenancy agreement? And if so, what stops the landlord 'providing one'? I doubt they'd ask the tenant (probably not legally entitled to their details). Normally they wouldn't bother checking, as long as you keep making the monthly payments. When it all goes wrong is if there's an insurance claim. The insurance company will contact the mortgage company to check that you're allowed to let it out. At that point the mortgage company will ask you for the tenancy agreement, to make sure you're in compliance. A worried landlord might then be tempted to 'provide' a signed contract. However the insurance company will be dealing directly with the tenant to arrange repairs, and if they ask the tenant for a copy and find that it's different to the one supplied to the mortgage company, you suddenly have no insurance, and a repossession for mortgage fraud." | |||
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"it used to be acceptable to sell a property with a sitting tenant, now greedy landlords seem to think they have to chuck the tenant out before selling to maximize their profits Also under these proposals, tenant has first shout on purchasing the property if landlord selling. What would be the rules for this, if another person was interested in purchasing and offered a higher amount as an example it used to be acceptable to sell a property with a sitting tenant, now greedy landlords seem to think they have to chuck the tenant out before selling to maximize their profits Also under these proposals, tenant has first shout on purchasing the property if landlord selling. What would be the rules for this, if another person was interested in purchasing and offered a higher amount as an example Labour’s key Renters Reform Bill amendments: Introduce ban on no-fault evictions from day one of office Insist landlords wait to claim intention to sell or move in a family member for at least the first two years of a tenancy – currently they only have to wait six months **Landlords must offer their property for sale to the tenant before trying to evict them on grounds of needing to sell** Pecking order Tenant has first right to purchase. More details will come I expect These are major changes to protect tenants accommodation. " id of thought if they could afford the property the landlord would be more than happy to sell to them but if they had the money why would they be renting | |||
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"it used to be acceptable to sell a property with a sitting tenant, now greedy landlords seem to think they have to chuck the tenant out before selling to maximize their profits Also under these proposals, tenant has first shout on purchasing the property if landlord selling. What would be the rules for this, if another person was interested in purchasing and offered a higher amount as an example it used to be acceptable to sell a property with a sitting tenant, now greedy landlords seem to think they have to chuck the tenant out before selling to maximize their profits Also under these proposals, tenant has first shout on purchasing the property if landlord selling. What would be the rules for this, if another person was interested in purchasing and offered a higher amount as an example Labour’s key Renters Reform Bill amendments: Introduce ban on no-fault evictions from day one of office Insist landlords wait to claim intention to sell or move in a family member for at least the first two years of a tenancy – currently they only have to wait six months **Landlords must offer their property for sale to the tenant before trying to evict them on grounds of needing to sell** Pecking order Tenant has first right to purchase. More details will come I expect These are major changes to protect tenants accommodation. id of thought if they could afford the property the landlord would be more than happy to sell to them but if they had the money why would they be renting " I'd hazard a guess that most can 'afford' the property, seeing as they're paying the landlords mortgage plus some. The issue is deposits and banks. | |||
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"Or it will dissuade people from buying property to rent, which is far more likely which will then lead to higher rents. " And more no falt elections befor this is made law, so property can be sold before Cappital gains tax go's up, or rental tax is increased. | |||
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"Or it will dissuade people from buying property to rent, which is far more likely which will then lead to higher rents. And more no falt elections befor this is made law, so property can be sold before Cappital gains tax go's up, or rental tax is increased." I bet the Conservatives and Sunak would have been happy with a no fault election  | |||
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"Won’t somebody think of the poor landlords?" No poor landlords no private rental  | |||
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"Big fan of making this market more professional. It's neither helpful for renters or rentees (who are leveraged and/or have more liquid needs than property gives) Not sure this how I'd do it. I don't fully get how supply goes though unless people want to sit on empty houses. Air BnB will only go so far and only really works for the better landlords. " I've read today in a newspaper that council tax on properties left empty for over a year are to rise to 200% .... then if left empty for over 2 years, then a 300% charge .... over 5 years then a further increase, coupled with potential compulsory purchase by local authority. basically an end to landbanking of existing housing stock. | |||
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"If the PRS is hit any harder there will be a lot of homeless people in temporary accomodation - chickens will come home to roost for govnt and local authorities! " 150,000 already are 2000 section 21’s a month https://england.shelter.org.uk/media/press_release/rough_sleeping_soars_by_27_while_number_of_homeless_children_in_temporary_accommodation_hits_another_record_high_#:~:text=109%2C000%20households%20are%20homeless%20in,between%20July%20and%20September%202023. | |||
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"Big fan of making this market more professional. It's neither helpful for renters or rentees (who are leveraged and/or have more liquid needs than property gives) Not sure this how I'd do it. I don't fully get how supply goes though unless people want to sit on empty houses. Air BnB will only go so far and only really works for the better landlords. I've read today in a newspaper that council tax on properties left empty for over a year are to rise to 200% .... then if left empty for over 2 years, then a 300% charge .... over 5 years then a further increase, coupled with potential compulsory purchase by local authority. basically an end to landbanking of existing housing stock. " About 78,000 holiday/second homes are registered as business's and for business rates, the rateable value within the threshold of small business rate relief. So that neither council tax nor business rates are paid. https://www.ft.com/content/45a95113-ad84-4bc0-9b30-9f59025b64bf https://www.spectator.co.uk/article/why-the-council-tax-rise-on-second-homes-helps-no-one/ | |||
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"About 78,000 holiday/second homes are registered as business's and for business rates, the rateable value within the threshold of small business rate relief. So that neither council tax nor business rates are paid. https://www.ft.com/content/45a95113-ad84-4bc0-9b30-9f59025b64bf https://www.spectator.co.uk/article/why-the-council-tax-rise-on-second-homes-helps-no-one/" it's probably escaped you that these loopholes are about to get closed with planning permission reform .... which is imminent in Wales .... england seems to be following not far behind by making it a devolved issue. tax relief reform to close those loopholes is already being talked about by the present government | |||
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"About 78,000 holiday/second homes are registered as business's and for business rates, the rateable value within the threshold of small business rate relief. So that neither council tax nor business rates are paid. https://www.ft.com/content/45a95113-ad84-4bc0-9b30-9f59025b64bf https://www.spectator.co.uk/article/why-the-council-tax-rise-on-second-homes-helps-no-one/ it's probably escaped you that these loopholes are about to get closed with planning permission reform .... which is imminent in Wales .... england seems to be following not far behind by making it a devolved issue. tax relief reform to close those loopholes is already being talked about by the present government" Gove announced this in February, national database for existing holiday lets to be grandfathered in and new C5 use class. Devolved powers to councils via A4D to prevent more homes going to holiday/serviced/airbnb. Aid a holiday let is a registered business don’t know what the plans are for removing small business rate relief on these properties. | |||
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