#1 The Scary Real Motivation Behind It!!!
The Scary Real Motivation behind the Fairer Private Sector Sector White WashSUMMARY KEYWORDS
landlords, tenant, talk, rent, industry, happen, nhs, private rented sector, pretty, government, hmos, pension funds, detail, absolute rubbish, reality, resources, harder, half assed attempt, private, incompetent fools
SPEAKERSBrett (100%)
Brett Alegre-Wood
0:00
Hey guys, so welcome,
I thought I’d jump on and talk about a fair a private rented sector, the white paper that’s just come out now. So this is basically from Michael Gove. It’s come from the government, they’ve been talking about it for years. And this is the one where they’re talking about abolishing the section 21. In other words, the right of the landlord, through a no no fault eviction, to remove a tenant. Now, in principle, I mean, we, you know, we manage over 30 properties, and the reality is most of our landlords never evict tenants for that reason. So the whole basis of this and what I know of the industry, the whole basis for it is that they’re Punnett. penalising the entire industry for what is a little small fraction of percentage, even though the government, in their own words would say that it’s a massive pot. I mean, it’s amazing, some of the crap that has gone in here, that I just think is absolute rubbish. Because if you have, for instance, over 50%, where they’re saying landlords are not compliant. I mean, that’s pretty serious accusation, you know, and I just don’t see that at all, you know, and I think, really, this is a one sided piece of paper. I mean, if you look at it, there is tenant stuff, which just goes page after page after page after page. And there’s a little bit for the landlords, you know, so is it going to be really bad, or what I’ll do is, I’m going to take you through the main points of this, now, there’s a whole heap of points, it is goes into so much detail now, look, if this was going to be implemented properly, then actually, I don’t think landlords have got anything to fear, I think there’s not going to be too much of a worry about it. But my fear is, it’s not, it’s going to be a half assed attempt by an incompetent fools. You know, the redoing of the court, only now we found out still not much detail about it, about what they’re going to do, about notice periods, about all this sort of thing. So we’ll talk about each of these and the impact for a landlord, because let’s face it, you guys, I assume are landlords, and that’s where the tenant or the aspects only come from. So if you’re a tenant watching this, you know, Ashley, this is probably well, you know, what, it’s not good news for you. Because what it’s going to do is people are going to decide to get out of the industry, we’re not building enough homes. And the reality is that the availability of homes is less. So actually, what’s going to happen is, rents are going to be driven up now, why the government doing this? Why? And look, this is a whole nother story here. The NHS is being ignored. They’re pulling resources from it. So the private tight, private sector has to jump in and do it. This is exactly what is happening with the private rented sector is they’re saying, Let’s withdraw resources make it harder for mum and dad’s and small time landlords to actually run profitably. And as the profit drops, okay. And as it gets harder, and more, you know, compliance and regulation and all this sort of stuff, what’s actually going to happen is, you’re now going to hand it over to the big pension funds, who can come in and basically build out huge amounts of property, you know, in certain areas, because let’s face it, this whole, you know, you can call this conspiracy theory or what may be ongoing, you know, way, way, ridiculous. But the reality is, this seems to be the case with the NHS with a private rented is there handing it over to private enterprise, large corporations, they don’t want small actors a part of it anymore. So they’re, they’re doing whatever they can to kick you out. All right. So the trick for us as landlords were to try and make this work for us for as long as possible, because they’ll only do it until, yeah, they get out the small landlords, and then they’ll start making it easier for the big landlords and you want to be there still, you know, fighting and making money and doing well at that stage, because that’s where it’s headed. Yeah, sure. HMOs. And those sort of things, they can push out to the things, but the majority of new stuff is going to be to pension funds and build to rent and all this sort of stuff, which is unfortunate. And that’s a pretty cynical view. But I think that seems to be the way every decision is going the way things go. So, for me, that’s the industry right now.
One Great Property Idea
Masterclass
How Property Investors with Little Time Can Invest in New Build and Off Plan Property using a Regeneration Strategy and Where Exactly to Invest in 2022.
THIS WEDNESDAY @
1230pm London GMT
Masterclass Begins
TUESDAY
1230pm GMT London
#2 Bozo the Clown releases his White Elephant errr…Whitepaper!!!
Bozo The Clown and his Fairer Private Rented Sector 2SUMMARY KEYWORDS
landlords, ombudsman, rent, tenant, reality, raise, bozo, people, renters, compliance, absolute bs, money, complaint, financial burden, unlimited power, continue, cheaply, recourse, frightened, council
SPEAKERSBrett (100%)
Brett Alegre-Wood
0:00
Here’s our Bozo the Clown, with his big red nose, that this guy really simply put us into Brexit, which has been a debacle. You know, he’s been absolutely ineffective and useless at pretty much everything so far, you know that he’s done. So you know, he says here that, you know, tenants are often frightened to raise a complaint. If they do, there’s no guarantee they won’t be penalised. First, you know that their rent won’t be shoot up as a result, you know, that they won’t be hit with a section 21 to move out? I mean, this is just bullshit. Their absolute BS? Yeah, yes, there’s a small minority of people who do their number one is you can’t just shoot your rent up. In order to shoot your rent up. You need to take you need to take something. So you need to RPI CPI? Yeah. In other words, the market is going up. So why shouldn’t you be allowed to put the rent up? Yeah. And actually, that doesn’t look like it’s changing here. So that’s not going to change, you should be able to you can only do it once a year. So that hasn’t changed. So to link this, oh, they’re frightened to raise a complaint? You know, this is the stupid stuff that this guy, you know, is deluded about. All right. The interesting thing is, you know, they’re talking about poor quality homes, they want to have the poor quality homes by 2030. Well, okay, great. So let’s look at how they’re going to do that. What they’re going to do is they’re going to raise EPC standards, they’re going to give more power to local councils, they’ve got unlimited power now virtually anyway, just don’t use it. All they want is the fee that they can charge for landlord licencing. So they can make money. You know, and I guess the penalties. Yeah. Which is just friggin ridiculous, you know. So this bozo, you know, is basically doing this. Yeah. You know, do I like this guy? No, not at all, I think he has got one thing in mind. And that’s to push out small landlords, and to bring in his buddies, you know, just like this government is doing everywhere across the board. And the worst thing is, Labor’s going to do exactly the same. Because guess what customer is not going to be any different than this. You know, if anything, it’ll be worse. Okay. So, you know, how do we get around this? And I think, rather than being totally negative, or dumb, or negative bit now, but the reality is with this, is that what you got to look at here is how can you still make money? What are the opportunities? What do you need to do to ensure you’re on the right side of things, and making money, not on the wrong side of things, getting penalised, and all this sort of stuff. But it does mean there is going to be more regulation compliance, because there’s ombudsman involved and all that sort of stuff. So the private rented sector thing, I mean, this isn’t nothing backed by a powerful new ombudsman, so that disputes between tenants and landlords can be settled quickly and cheaply without going to court. Well, this is not quickly and cheaply. the Ombudsman’s that currently work do not go cheaply and quickly, yes, they do for the tenant, but not for the agent, not for the landlord, because the reality is the rather than being this innocent till proven guilty, the onus is put on the landlord or the agent to provide all the details. So the trick here, if you want to continue to make money is that you have to document everything. And you have to not take anything at face value. Don’t listen to your tenant, and what they may say put it in writing, get it in writing and make sure it’s backed up like that. Now it says without going to court. The reality is by far the majority of things are antisocial behaviour and rent. Yeah, yes, there’s damages as well. So there is an element of that as well, but not as much. Okay, certainly the rent. Well, what is the ombudsman going to be able to force the tenant to pay rent? Or a victim? No, they’re not. So the reality is, all they can do is levy fines, up to 25,000 pounds. All right. So is it a new office and who the hell knows if it’s a new ombudsman or they’re just going to extend the current ombudsman? I mean, if they allowed tenant landlords to join the new current ombudsman thing, while law is fix, are they going to make it quicker and cheaper? I doubt it. Yeah. I don’t see how they’re going to do that. Because the evidence that has to be provided the bundles and all that sort of stuff, okay. And half these monkeys that they employ the bloody the ombudsman, some of the decisions that we’ve seen made just don’t make sense, you know, and you’ve got to be there’s no recourse. Yeah. You know, so you’ve got to play their game where it’s at, which is unfortunate. I love this vast majority of responsible landlords. But then when we have a look at some of the stats they talk about, it shows that most more by more than 50% aren’t in compliance, or aren’t good landlords. Yeah, it’s ridiculous. But yeah. I love it. These reforms will ease the financial burden on renters. What about landlords? Yeah. I mean, at the end of the day, this is the thing that’s been ignored here. It’s all about giving renters a fairer deal a better deal. Well, I’ll tell you what, you know what? I’m all for people who don’t do the right thing. Yeah. But rather than going across the whole industry, and just make to massive, massive expense added expense to all landlords, why not target the people that are performing? Because I can tell you the amount of landlords because obviously I read the forums and do all this that do things wrong. Yeah. And get away with it and continue to get out. And it doesn’t matter if you go to council what to do. Yeah, it’s incredible. They need to pick their ACT UP. You know, that’s the real problem here.
#3 Trying to be nice about the Executive Summary… I Failed!
Executive Summary Comments on Fairer Private Rented Sector 3SUMMARY KEYWORDS
renters, white paper, property, landlord, blame, deposit, housing, rent, absolute rubbish, tenants, problems, home, government, respiratory conditions, local councils, mortgage, bucketing, harder, biggest, afford
SPEAKERSBrett (100%)
Brett Alegre-Wood
0:00
Hey guys, so welcome, I thought I’d jump on and talk about a fair a private rented sector, the white paper that’s just come out now. So guys, let’s just run through the headline figures of what they’re talking about. And really, you know, I’ll give, I’ll keep my opinion till the end if you’d like. So everyone deserves a secure and decent home. Nobody’s arguing with that, you know, they’re firmly committed to helping Generation Rent to become generation by, yep. Great, you know, renters should have a positive housing experience. Or maybe if you didn’t, if you paid them better. And you did that. This has nothing to do with the housing side of things. This has to do with government policy. Yeah. You know, the white paper builds on the vision of levelling up white paper and sets out the plans to fundamentally reform and level up housing quality, housing quality, fine, you know, there are some crappy houses out there. But you know, what, if local councils took more of an interest, and with all that money they made from licencing actually did something about it? Well, maybe they wouldn’t have such a bad thing. You know, damp and cold homes, could make people ill and cause respiratory conditions, children called home to twice the more likely to suffer rest, blah, blah, blah. Right. Okay, that needs to be fixed. That is something that, yeah, for certain homes, it is very hard, but then give incentives to get the friggin things fixed up, rather than penalise. So this is one of the problems is everything’s about a penalty, not about inducement or in in investment, you know, by taking away and adding all this compliance and all this sort of stick with no carrot? Where the hell are the people gonna get the money from? You know, it’s not like house prices in bucketing up in every region. In fact, you know, most regions, they’re sitting around doing nothing, and they have been for quite a while. So too many renters face a lack of security to hit with their hits. Aspiration makes life harder for families. Yeah, well, to many, that’s a pretty generic term. You know, private renters spend an average of 31% of their household income on rent. Yeah, more than social renters 27 and homeowners with mortgages 18. Well, you know, what, if that’s the case, and it’s almost double, you know, 31 versus 18, then why not help them get on the ladder to get their own property? So they’re paying a mortgage, rather than renting? Maybe? I mean, there’s, there’s reasons for renting, there’s no problems there. And the reality is, that, for me is a bit misleading, because that’s a government failure to get people on the ladder. Not actually anything to do with the type of property they’re living in a frequent home moves are expensive, with moving costs of hundreds of pounds. Yeah, that’s right. You know, this makes it harder to save a deposit. Yeah, it does. But you know, what, actually, maybe if you made it easier to buy a home and save a deposit, you know, it’s almost like, oh, landlords are to blame for all of the problems to do with renters. No social issues far and above what anything that PRs or any individual landlord can be involved in other real problem. Tenants fear they cannot down roots in communities and hold down stable employment rubbish, absolute rubbish, you know, children insecure housing. This is for me, this is all rubbish. Absolute rubbish. Yes. If you’re a property that you can’t afford, and you don’t pay the rent, or don’t look after it, then you don’t deserve to be in that property. Yeah. Now, that’s not a comment on an individual person. But the reality is, if they can’t afford it, don’t keep them in there moving to a place where they can afford or give them the backing through the government benefits or whatever. So they can stay there. That see this is the problem with this government is this government points the finger at landlords and says you’re to blame, you know, to save the cladding, you know, it’s like, oh, you’re a lease holder, you’re to blame. You own that property. You’re to blame. No. Government policy failure over the last however many years is to blame. And make no mistake about that. That is the real issue here. Yeah. Tackle anti social behaviour and deliberate persistent non payment of rent. Great, you know, so this is the first time I’ve seen anything to do with landlord. And actually, they are probably the two biggest issues, anti social behaviour, and non payment of rent. And I frickin hate it, because some of the things that I’ve seen having so many properties, how much money goes down the tube that tenants just walk away from? Yeah. And even the court system doesn’t allow you to reclaim the costs. It’s ridiculous what’s going on there. But are they going to address it? Well, I doubt it. So that kind of gives you the the sort of wherewithal if you like, and where you know, what’s being done. Look, then they go on to what have they done? And that is the biggest load of Prop crap that I’ve ever seen. You know, I mean, it’s just ridiculous what they say they’re done, you know, as if it’s some are were awesome. No, actually, there’s so many issues within all of these because they’re all knee jerk reactions. They refuse The thing I mean, section 24 is just a classic example of where they screwed over tenants. But there’s everything here from a deposit. Yeah, five weeks deposit. Great. How many times do we go over that and you barely got recourse to get the rest. You know, it just doesn’t make sense. Yeah.
#4 The 12 Point Action Plan for the Fairer Private Rented Sector Whitepaper… My Prediction… FAIL
The 12 Action Points of the Fairer Private Rented SectorSUMMARY KEYWORDS
landlords, tenants, property, ombudsman, rent, private rented sector, number, rent arrears, strengthen, tribunal, deliver, pay, deposit, mediation, exhilarate, agent, increase, rpi, problem, pet
SPEAKERSBrett (100%)
Brett Alegre-Wood
0:00
Hey guys, so welcome, I thought I’d jump on and talk about a fair a private rented sector, the white paper that’s just come out. So guys, so the 12 point action plan is basically I’ll read you through these. Alright. And I’ll try not to give my opinion too much. But you know what, I probably will. So we’ll deliver on levelling up housing mission to have the number of non decent abs, this is about quality of homes, okay? There’s a number of schemes they’ve been doing, there’s the HUD homes fit for habitation that they’ve been doing, there’s carbon monoxide, there’s, you know, there’s a number of things, the most, the one that’s going to come in very soon is the EPCs to sea level. That’s going to be bloody hard. That’s going to be bloody hard to achieve. And you know, what, the government’s known for not achieving these things, and even they put it in place, where’s this money going to come from? You know, where are like they do these things, without thinking about how they’re going to be achieved. So I think they will fail at that, and failed dismally. Unless they incentivize landlords to bring their properties up. Yeah. And whether it be they made, you know, you know, a tax deduction, you know, to be able to afford that, because let’s face it, they’ve taken away a whole heap of profit from the industry exhilarate quality improvements in areas that most needed areas, so they’re talking about different areas as in castles? Well, the devolution act, gave it to the castle. So it’s up to the council’s to do that now, not the government, will they send money? Who knows? You know, but let’s face it, councils are trying to get money from wherever they can. I think that’s another one that’s going to fail. We’ll deliver on our manifesto to abolish the section 21 No, photoemission great, and deliver simpler, more secure tenancy structure. Okay, so they’ve done that great. The question for a landlord is the hell they’re going to do about getting my property back. So I’ll do another video on that. Because there is a number of things in here. Do I think it’s going to be a big, big issue? I don’t because I think most people don’t actually use no fault. Unless the other, the other things don’t work if they fix the other things. But you know, what, then who cares about the section? 21? Really? So yeah. We will reform grounds of possession and make sure the landlords have effective means to gain possession for their properties when necessary. Hurray, we got one. All right. Well, let’s figure out landlords ability to evict those who disrupt neighbourhoods through antisocial behaviour, introducing new grounds for persistent arrears, and sale of property. So basically, what they’re saying is screw everything else got any social behaviour, you’ve got rent arrears and your sale of the property, or also one of Alan’s was family moving in. Okay. So that’s pretty much the reasons you can get rid of a tenant, which you know what? There aren’t too many other ones. You know, let’s face it. I mean, maybe maintenance, you want to do massive maintenance, so you need to move someone out. Something like that. We’ll see. So we’ll only allow increases in rent once per year. That already happens. Yeah. End of use of rent review clauses. Okay. Yeah. Improve tenants ability to challenge excessive renting, they already have to tear. So a lot of these things is just restating stuff that’s already there. Yeah. Now, okay. Rent review clauses. You know, the reality is, you can put a rent review clause into say, it’ll increase this much. Yeah. But that can also be, you can go to the first tier tribunal and tenants do. All right. Obviously, it’s a stupid process. And as long as you stick it to API, cpio, RPI, or you can check it through the market, then you should be fine. You know, to increase it once a year. If they stop allowing you to increase it, that’s a rent control. That’s going to be but they did say they don’t agree with rent controls. So that’s a positive for us, or a strengthened tenants ability to hold their landlord account introduce a new single ombudsman for all private landlords must join. So hold on. So this is mean as an agent, I have to be an ombudsman and now as a landlord, afterburners on summon. So now we’re going to have what another 300 pounds that were to pay each year for what we might already be covered. Or if we’re using an agent we covered by them? Well, no, actually, this is an additional one. So what they’re saying is now, there’s a new Dulles ombudsman for landlords, so even if you’re a letting agent, you still have to attend it, your landlords are still gonna have to go. So that’s another however much it’ll be but it’s probably going to be, you know, who knows? A ridiculous amount. So, yeah, we’ll work with the Ministry of Justice and Hm. Courts and tribunal service to target the areas where there’s unacceptable delays in court proceedings. Well, that’s everywhere, pretty much, you know, strengthen mediation absolutely useless. Yeah, we’re using mediation. We’re doing everything right like that. But the problem is, there’s nothing in it. There’s no motivation for a tenant to actually do anything. So yeah, I don’t see how that’s going to work. Alternative Dispute Resolution. I just don’t see that working because when you got rent arrears and when you cancel was telling tenants not to move out until the bailiff arrives. That’s the advice they’ve been given. They’re going to listen to that before they listen to some mediator, you know. But yeah, basically what this is this mediation, this is a way that they can basically say, actually, you know, what, landlord, give a bit, take a bit. Sorry, give a lot and take nothing and be done with it. That’s pretty much what this is a thing. Yeah. And we’ll introduce new property Porter, and make sure tenants, landlords, local councils have the information they need. Great. So we’re going to another land another place, you know, what if they said, We’re going to remove all other places and just have this fine, you know, what they’re not going to, and this is where this is just going to be another thing, we probably got to upload data, you probably got to pay a fee to access that if you’re a landlord or whatever, you know, who knows? You know, it’s just rubbish. I mean, landlord licences are classic. Every Council is different, everything is different. Maybe they should have just had standardised things. But no, they couldn’t do that. will strengthen local councils enforcement powers, they’ve already got that. But a crackdown on criminal landlords. You know what? That’s ridiculous. Okay. I don’t know, I don’t see where what that means or how they’re going to do that they already have all that power, will legislate to make it illegal for landlords and agents to blanket bans, renting families with children, or those on receipt of benefits, and maybe pay the benefits was because the number of times where benefits are paid to the tenant, and then they just don’t pay? You know, it’s ridiculous. Yeah. You know, vulnerable groups such as prisoners. Yeah, so great, all this sort of stuff. So we’re not going to be forced to take tenants. So at the end the day this is where maybe we can say, you can’t take it without a guarantor. I mean, I’m saying two things, get a guarantor, get an insurance policy, you know, that seems to be the only way that you can combat a lot of this sort of stuff. You know, I’ve had no problems with benefits of children with benefits and things like that, or the DSS side of things. But as long as they can afford it, and as long as I can get my rent, you know, that’s the challenge. Now, if they can’t afford a haircut amount, that’s a real question. We’ll give tenants the right to request a pet in their property. Now, the good thing is, is that you are allowed to charge a sorry, you’re the tenant can get pet insurance. Here’s the problem is they get it once, how they’re going to be forced to renew that at the end. Yeah. So this is one of the challenges that I want to see. Because you’re not going to happen, they’re in there for you can’t get them out, they don’t renew it, can we take them out? Can we get them out? You know, maybe they pay us this pet insurance, and we get the insurance or we add it to the rent or something like that. But no, it is a separate fee, and it should be a separate fee to? Good. We’ll work with the industry experts to monitor the development of the innovative market led solutions to passport deposits. Okay, great. But nobody’s really solved this. I mean, right now, they’re saying that I can’t see how it’s going to be done. Because if you know, a tenant owes there, what are they going to fund that? Or how we’re going to get that money? So anyway, I hope it’s not a case of I hope that deposit is still controlled by the person, but then what happens to the new person? You know, so if that tenant if their deposit goes from there to there, but then it’s us here? How do we get it out of there? If they haven’t got it? You know, we’re just asking for problems. But we’ll see. I’m sure there’s some innovative market led solution. Whatever it is, that’s the 12 points, that I think we’re going to be frustrated. But anyway, good.
#5 Why 70% of Landlords Fail this … according to a trusted source ????
70% of Landlords FAIL this – According to the Fairer Private Rented SectorSUMMARY KEYWORDS
interesting, landlords, failed, compliance, families, government, renters, people, basic maths, whole heap, struggling, tenants, household, white paper, agent, subjects, prs, key, skyrocket, fines
SPEAKERSBrett (100%)
Brett Alegre-Wood
0:00
Hey guys, so welcome. I thought I’d jump on and talk about a fair private rented sector, the white paper that just come out. So guys, so, key factor things, I thought that there was some interesting figures here, which I wasn’t aware of, or actually I didn’t really care about, and probably I still don’t care about him. I’ll be honest with you. So, yeah, but look, so there’s a whole heap of things here. 1.1 The interesting thing I saw here was, as you come down, go down, there’s lovely photos there. You know, so you’re right, there’s 4.4 million households that are renting prs? Okay. So as prs. So with alumnium people, okay, so and 2.3 million landlords. So that’s about Yeah, just I mean, let’s say two properties per landlord ish. Okay. So that’s, that’s about the average. So if you’ve got more than two, you’re you’re above average. Okay, which I thought was quite interesting. So yeah, but 19,000 letting agents in the country, which was quite interesting. Anyway. So I’ve come down here, interestingly, tenants who are comfortable renters? Yeah. 44%. So what does that tell you? That tells you that 60 or 56% are not comfortable. And this is the interesting thing is sometimes when you look at stats, take the opposite and go Well, where’s the other 56% What families getting by 17% Low Income savers, 16% struggling families, 11% vulnerable singles, 10% old renters 3%. So it’s quite interesting where over half of our tenants are going to come from, because that means over half of our tenancies are vulnerable old. Problem with old, you know, are struggling families. You know, the interesting thing is, if half of the entire PERS is struggling in some form. Yeah. What does that tell you about the government? That pretty much failed dismally? I mean, think about it. If you go and you get less than 50%, on your exams, you generally fail. I know, sometimes now they have 40% fails, because let’s face it, they’ve been such a poor job, but less, you know, it’s just ridiculous. Yeah. What these stats are, they show that this government has failed dismally on every respect. All right. So interesting, as I go down further, yeah. 74% of homes are sorry, there’s a 74% increase on people over 65 that above 65, monitor that over the next 2030 4050 years, you’re gonna see that skyrocket 25% Of all people that are going to be above 65 by 2020 2100. There, that’s just the basic maths that is happening, irrespective of what we do. Interesting household receiving benefits has increased by 177%. You know, that says, the government failed dismally. Yeah, people are relying on the government more and more. That’s not a somebody should hold up as a trophy. Oh, look, we’re supporting more families. No, that means that we’re working harder to support people for these benefits, because the government has failed them at everything else. Anyway, let’s keep coming down. So we get to the landlords. So here’s the where it really gets interesting. And I found, guys, so landlords demonstrating good practice 30% So 70% are not mixed compliance. 24 So now 54% What happens with the rest of the things 35% Meeting legal requirement, lower compliance and awareness. 11%. That is how they put these criminal landlords down the bottom. It’s quite interesting. But, you know, more or just less than half are not compliant or not, you know, good. Landlords are good standing. What a failure of policy, what a failure of everything. And I’m not surprised, because most landlords that I know, don’t understand the laws. I mean, I’ve got our qualifications, you know, and so basically, I study this stuff. And, you know, I’ve got two more subjects in my world, certainly a two more subjects in my, in my level four, which is the top level, you know, that, but the reality is, you know, most landlords have no idea so if you’re not using an agent that knows what they’re doing and is a member of someone like property mark, it’s very hard to know because there’s over 170 bits of legislation that you can fall fall off. And you know, from unlimited fines to jail. Yeah. is where it starts, you know, down to like a you might get a slap on the wrist and a warning but more and more. The, the actual punishment is really hitting You so interesting there
#6 Why is MAY be better for landlords… my quick thoughts for investors.
My quick thoughts on the Fairer Private Rented SectorSUMMARY KEYWORDS
rent, money, private rented sector, gut, bozo, reality, tenants, work, introduce, years, detail, ombudsman, recourse, compliant, jab, paper, pay, big corporations, section, fantastic
SPEAKERSBrett (100%)
Brett Alegre-Wood
0:00
Hey guys, so welcome. I thought I’d jump on and talk about a fair a private rented sector, the white paper that just come out. Look, my thoughts on this. Okay, just before I finish off, I think this is going to be one of those things that on the face of it, and if you don’t comply, you will run into problems, okay? It will cost more money. And really, that’s the thing, it’s going to cost you more money to be compliant in these things. Because, you know, there’ll be an ombudsman charge, there’ll be, you know, who knows? Okay. So, but you have to do it. Yeah. And I think what the reality right now is, we’re in a crappy time in the property where it’s not really going up, there’s so much, you know, issues, recession in the US all that sort of stuff. So, introducing, it now is hard now, if they introduce it, so you can get renters out when they’re not paying the rent sooner. Fantastic. All right. When we look at that there is some good news in here, if they actually perform. And that’s the real question. You know, we’ve been hearing about the section 20 ones go, we’ve seen no details, plenty of detail on the fact that it’s going but virtually zero detail on how the hell they’re going to make the courts work better. And even in this document, yeah, they’re freely admitted that they’re going to be chatting to like, you know, for I think it’s four years or three, four years now, five years that we’ve been talking about the section 21 going, and they’re finally introduced this now. But they’ve never not once mentioned how they’re going to solve this thing. Apart from, oh, they’re going to online it now rather than paper base, they’re going to you know, so a few things that which, great if that works. So let’s hopefully, the lot of these things do work, I think, if they bring out some incentives to make homes better, quality homes better, if they make it clear how we can get tenants out who don’t pay rent, and who are anti social, because let’s face it, right now, it’s clear, anti socialist clear that you can’t do it. And you know, at the end, the day, rent side of things, is clearly you can do it, it just takes too long, which means you’re at a loss, and you never get that money back in most cases, you lose money when the tenant decides not to pay. And the reality is, you know, until recently, when we started putting ccjs against the actual tenants, it’s been a no recourse for them. They might, you know, they’ll walk away. So yeah, so a lot of these things, if they get it right, fantastic. But their history has been terrible at getting it right. And that’s my gut feel is that this is just another piece of paper, you’re gonna throw in the bin. Yes, you’ll have to do a few things. We’ll have to learn a few things. But will it change much? No, probably not. You know, and the reality is, these guys are likely to be out of government, you know, come next year. And then what happens then? So, you know, there might be a back turn, there might be a backflip there might be even more onerous things coming on. That handed over to the bill to rent the pension funds, the big corporations, and really take more money out of you know, mum and dad trying to sort out their pension. It’s pocket. But yeah, anyway, guys, unfortunately, I’d love to be more upbeat and positive about it. But I really think that this is just another jab in the guts by Bozo the Clown. So yeah, alright guys, have a good day. See ya.
Related Property Articles & News
