i have just read an interesting summary of all that is proposed in the EG (Estates Gazette). As drafted it effectively brings back a form of rent control as tenants will have the right to go to First Tier Tribunal to challenge any rent increases which must be proposed by section 13 notices.
I now understand why people who are members here have been saying that they plan to sell up and as is so often the case, Government intervention has the unintended effect of making the situation worse than if they had not meddled. I don't like the sound of it at all but it seems to me that the best days are behind us as residential landlords. Selling up makes sense. I don't see why the Government should have the right to force me to accept that tenants will have pets. The legislators probably dont understand that with a maximum of five weeks rent deposit this doesnt begin to cover the damage a dog can do. Ive had new engineered wood floors ruined by dog urine. I really dont want pets.
It will be a year or two before this comes on to the statute book. My approach has always been to charge a slightly lower rent than the rest of the market on the basis that the tenants know they are getting a good deal, there are rarer voids but if this bill will make rent increases more difficult to implement I suppose this strategy is less than brilliant.
I now understand why people who are members here have been saying that they plan to sell up and as is so often the case, Government intervention has the unintended effect of making the situation worse than if they had not meddled. I don't like the sound of it at all but it seems to me that the best days are behind us as residential landlords. Selling up makes sense. I don't see why the Government should have the right to force me to accept that tenants will have pets. The legislators probably dont understand that with a maximum of five weeks rent deposit this doesnt begin to cover the damage a dog can do. Ive had new engineered wood floors ruined by dog urine. I really dont want pets.
It will be a year or two before this comes on to the statute book. My approach has always been to charge a slightly lower rent than the rest of the market on the basis that the tenants know they are getting a good deal, there are rarer voids but if this bill will make rent increases more difficult to implement I suppose this strategy is less than brilliant.
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