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Landlords penalised by government will put up rent, warns key supplier

A key supplier is warning that landlords penalised by ever higher government taxes and rules will be forced to increase rents.

Andy Halstead, HomeLet and Let Alliance chief executive, says the private rental sector works best when there’s a balance with agents and landlords working with tenants to provide quality property at an affordable price. 

"With almost one in five people living in the private rented sector, it's fitting that the government should focus on it, with an informed policy that strives to achieve a balance between letting agents, landlords and their tenants, but unfortunately that isn't the case at the moment. 

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“The continued increase in rents above the rate of inflation is a symptom of current policy.   

"Property is a long-term investment, and the narrative that landlords and letting agents are driving up rental costs simply isn't true.

lg.php.gif“... The continued assault on landlords through policies that disincentivises property investment will only drive rental value upwards for tenants.

"Whilst tenants may aspire to homeownership in the long term, the private rented sector will always play a vital role in the mobility of the nation and the overall housing supply chain. 

“As demand increases, the UK needs more rental stock for tenants, not less and without policy informed fully by property professionals, rents will rocket to record levels this summer." 

Halstead was speaking as his latest HomeLet index showed rents across the UK rising for the fourth time in as many months.

 

 

Typical rent is now £992 per month - and when London is excluded, it’s  £847.  Nine of the 12 regions monitored by HomeLet  show a monthly rise - the largest is in Northern Ireland, up 2.9 per cent between the end of February and the end of March. 

However, rents in London continue to fall year on year, showing a two per cent drop between March 2020 and March 2021.

Want to comment on this story? If so...if any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals on any basis, then the post may be deleted and the individual immediately banned from posting in future.

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    A typical rent outside London is £847 ? I wish, my most expensive rent is £695, most are around £600, and the cheapest is £476 per month, seems I need to be increasing all of them.

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    Like most things, rent is determined by supply and demand. Affordability is naturally a key factor and you can't keep increasing rents if tenants don't have the income to pay it.

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    No one knows the level of demand and affordability until they test the market for a particularly desirable property.

    I have twice successfully imposed 30% rent increases, in 2005 and 2018, and still could pick and choose from several potentially attractive tenants. Many of my rents are 3 to 4 times pre 2005 levels,

     
  • John  Adams

    Whilst regulation is needed to ensure standards and safety are maintained, the constant anti landlord campaigns by the likes of Shelter (Surely a conflict of charity and politics) make availability and rental increases worse, they simply fail to comprehend that many people do not want to either own a home with all the expenses incurred, or require flexibility due to their careers. Driving Private Landlords out of the market is going to result in even higher prices, and larger unaccountable organisations in their place. A quick scan of local news, will show many many tenants in damp mouldy and dangerous conditions - that are LA and LHA properties, where getting any kind of recompense or remedy can take months, Shelter seem to forget that...

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    I’ve decided that every time I’m penalised, I should spread the love. If I need a gas certificate so should my neighbours see UK Government and Parliament petition 'Gas safety certificate legally required for all gas households'.

    Please let me know if you've got any that need to be signed.

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    Please see my sister's Tricia Urquhart on EPCs.

     
    Daniela Provvedi

    Hi David, I've signed your petition (was number 27), and I've Tweeted it.
    Thanks!

     
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    Signed both - and tweeted them

     
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    So they decide that every household should have a Gas Safety Certificate. This is after they decided we shouldn’t have Gas and switch to alternative sources.

    Theodor Cable

    Same as told to buy Diesel, which millions did and then Diesel is the monster and costs a shed load more........

     
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    The thinking that rents will rocket is wishful thinking. We can’t even get what we are owed and with many arrears, where is the money going to come from with huge job losses, if you want to include
    London in the equation take in account Property Purchase price is at least triple, so £ for £ investors in other parts of UK are far better off and not hounded from morning till night.

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    Ok I have £££ to invest, let me think residential ???? Commercial???? So the commercial tenant is FR&I, the residential wants everything done for them plus doesn’t like the idea of me being a greedy landlord so won’t pay up??? This is a hard decision but ok Commercial it is, hopefully the homeless won’t be sleeping in the shop door way.

  • George Dawes

    Biggest problem with commercial is business rates

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