Private Rented Sector:
There’s a lot of negativity about landlords around. However, do small-scale private landlords really warrant this negativity and indeed should they be targeted at all?
Investing in a rented property is one of the very few investments that ordinary middle and working class people can make which is totally under their own control.
Most ‘real landlords’ (as opposed to the criminal landlords described by Ben as discussed here) are ordinary people with ordinary jobs. If they want to invest – what else is available to them? when banks and building societies are paying a pittance in interest.
Alternative investment options
Most investment products are provided by banks and other financial institutions.
They tend to be opaque products run by men in suits and may well be supporting businesses and services whose ethics and environmental credentials you disapprove of.
If you know about them.
- Private sector landlords, collectively own only a relatively small percentage of this countries land. The rest is owned mainly by the aristocracy and large corporations.
- Many of whom use off-shore tax havens and so pay no (or little) tax. So do not contribute to society
Rather than driving small landlords out, surely we should encourage them?
NB If there is an interesting website on who really owns England.
The consequences of driving out small landlords
If a small landlord sells up, finally bowing out under the pressure of taxation and excessive regulation, this is not necessarily a cause for celebration as some would have it:
- It often means that a tenant has been evicted from their home, and
- The pool of rented accommodation available for those who cannot afford to buy has just got smaller
Is this really a good thing?
Contrary to what many seem to think, many ‘proper’ (as opposed to rogue and criminal) landlords do actually care a great deal about their properties and providing a good environment for their tenants.
As I said above, investing in a rented property is one of the very few investments that ordinary middle and working class people can make which is totally under their control.
Take that away and all we are left with are investment products managed by men in suits.
If you are anti-landlord, think of this. Why are you trying to take this away from ordinary people? Is this really going to lead to a fairer society?
By Comment by Tessa Shepperson of LandlordLaw.co.uk