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Appalled Landlord
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my expertise in the industry

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Appalled Landlord
A real expert on the housing market, Kate Faulkner, has made the following comments on O’Brien’s report: “This report from Onward shows an astonishing lack of understanding about what’s happened and what is still happening in the property market as the RLA have rightly pointed out.   I think Onward and many others have forgotten that we had a recession which led to 50% of people pulling out of buying a home for up to five years – and they couldn’t get the money to buy even if they tried. There was a huge growth in the PRS from 2007 onwards because the demand for rental increased – and because BTL investors could buy with cash. Buy to let investors respond to demand, they don’t create it. The main question that MPs and others don’t seem to be addressing is where do you put the people that want and need to rent for reasons other than affordability? To completely ignore the growth of this sector is going to lead to a huge growth in homelessness and overcrowding – as they have nowhere to go. The only way out of the mess experienced by some, but not all, areas is to build more homes. Robbing Peter to pay Paul – ie taking property from the rental market to get people on the ladder – isn’t going to work. Demand is growing for people who want to buy and who need to rent – both need to be satisfied. It’s time we produced properly informed reporting on the PRS, rather than misusing statistics for political gain and if this is the level of understanding of the property market by MPs, then I’m afraid we are going to have a property crisis for years to come!” To see Kate Faulkner’s full response, google Has buy to let prevented 2.2m families getting on the ladder?

From: Appalled Landlord 09 July 2018 10:23 AM

Appalled Landlord
Landlords like nothing more than to have tenants stay for years, as long as they pay the rent and treat the property and the neighbours.with respect. Before section 21 of the 1988 Housing Act, private tenants could have tenancies for life. This, coupled with Rent Control from 1915 is what made the PRS shrink from housing 76% of households in England in 1918 to just 9.1% in 1988. Section 21 was introduced to give landlords the right to recover their property. This remedy worked. so that the percentage rose to 10.1 in 1996. From 1996 to 2013, the total number of dwellings in England increased steadily from 20.3 million in 1996 to 23.3 million in 2013. Much of this was due to the notable growth in private rented housing which more than doubled in size from 2.0 million to 4.5 million over this period. Landlords did this by financing new builds, by rehabilitating run-down properties or by converting large residential or commercial buildings into flats or houses in multiple occupation (HMOs). Generation Rent owes BTL a debt of gratitude for this. Instead they vilify landlords because they have been indoctrinated against BTL by a number of ignorant people, some of whom get articles published in the Guardian and the Times. The abolition of Section 21 would reduce the supply of rental accommodation and make homelessness worse. It would drive landlords out of the market and deter others from entering it, so that the stock of rental accommodation, already in short supply in some areas, would fall further while the population continues to increase. This would make rents rise even more, to the detriment of the tenants that the “senior London politicians” claim to represent. It would also cause an increase in evictions as landlords leave. Sian Berry, Tom Copley and Generation Rent are campaigning to reduce supply and increase rents. Brilliant

From: Appalled Landlord 06 July 2018 18:17 PM

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