An ambivalent government and increasing red tape are prompting landlords to sell up – but the result could be a more professional sector, according to property expert and TV presenter Richard Blanco (pictured).

He points to the stamp duty holiday as another cause for the exodus but believes frustration around local authorities’ sweeping powers and the hoops that landlords must jump through is sometimes the final straw.

“Bewildering legislation including Article 4 directions and more licensing schemes are driving us bonkers,” he tells LandlordZONE.

“Councils go through the charade of consultation, and landlords either get angry or are just resigned to it. I’ve given up trying to campaign against them.”

- Advertisement -

Blanco says he has learned to be pragmatic and that while regulations have piled up, as a professional landlord, he just carries on as normal.

Professional landlords

“Maybe if some of the landlords who own one or two properties, the accidental landlords, leave the market it will leave more territory for the professional landlords,” he suggests.

The NRLA regional rep, who has a large portfolio across London, says while politicians don’t seem to care about landlords, the current government is neither helpful or unhelpful, and he’s hopeful new Housing Secretary Michael Gove might be less enthusiastic about pushing through the promised Renters’ Reform Bill.

However, Blanco insists he doesn’t want to be too gloomy and reckons many landlords are sitting on lots of capital growth; he’s holding onto his stock and starting to pay down some debt and advises that with rising house prices, savvy landlords need to time their purchases – and that now is not a great time to buy.

He adds: “For those of us running a professional business there’s lots to be optimistic about. We’ve still got low interest rates and they might not go up for another year.

“Rental prices and demand are recovering even in prime central London, and the worry that Brexit would affect the market doesn’t seem to have transpired, with people still arriving and looking for properties, such as those from Hong Kong and Afghanistan.”

Listen to the Richard Blanco Inside Property podcast.

1 COMMENT

  1. So, the haughty Mr. Blanco is obviously unashamedly unacquainted and as conceited they come!

    As one who fit faultlessly into the assumption of accidental landlord, I can tell you from experience we have many, many times prove ourselves more than adept and capable at what we have accidentally fallen into.

    It is not uncommon for us to have to correct landlord association employees, or even agents, it’s not unheard for us, whilst having little choice, but to also put councils’ employees in their place, incidentally, of which several have been pretty serious issues, with their lack in updating themselves woefully unacceptable, but who are we to disregard! Yet, said employees; do they not have such extravagances as degrees, that purportedly development their education and supply the knowledge needed to work professionally within the private rental sector, it seems not at times!!

    And I know for a fact we will not be alone in this, as embarrassingly it is a joke the amount of times we have had to inform such persons they are in fact incorrect, and how they immediately need to update themselves. Yet, here you are, blisteringly quick in your arrogant dismissing as not professional, the sad and sorry landlords who only own a mere 1 or 2 properties, you must be joking, right!

    Blanco says “he has learned to be pragmatic and that while regulations have piled up, as a professional landlord, he just carries on as normal” Hey guess what: us non-professional minion landlords have ALSO JUST DONE THAT, UNBELIEVABLE RIGHT?

    You sad silly muppet! The numerous Landlords that have recently thought outside the box having raised to all extraordinary circumstances and challenges of late, albeit many out of pocket at no fault of their own in helping their tenants during a world pandemic? Yet, how many do you see searching for their 15 minutes of fame, seemingly, it is only the conceited ones that try so!!!

    Without knowing you personally, thankfully, I could clearly argue that for everyone who has ever known and looked up to you; evidentially they are clearly so wrong, sincerely, I would love for you to say this direct to the many thousands of those unprofessional landlord’s faces you chose to insult, you consummate pri!ck.

LEAVE A REPLY

Please enter your comment!
Please enter your name here