With the general election just a few weeks away, and with the launch of the various parties’ manifestos coming this week, landlords have a big interest in who secures power in May and what polices are implemented by any new government.
With the property market in general and the PRS in particular a big issue in the election, discussions on how each party plans to improve living conditions for millions of people across the country should include landlords’ views.
That’s according to a leading landlord insurance provider, PropertyQuoteDirect. Having worked with landlords for 50 years, they fear the parties are “missing out on a crucial voice”.
The property insurance provider, which this year celebrates its 50th anniversary, says:
“In the run up to the General Election it is essential that landlords become more vocal as they have valuable insight into the private rental sector. Their knowledge and expertise could not only help improve living standards for thousands of people living in private rental accommodation, but also those who are taken advantage of by rogue landlords.”
“Landlords need to try and dispel the negative stereotypes surrounding them in order to promote communication between themselves, their tenants and their local MPs.”
PQD has produced a list on their website of some of the most common negative beliefs and stereo types surrounding landlords, and how each one can be addressed, including:
- Landlords charge too much rent
- Landlords evict tenants without warning
- Landlords don’t care about tenants
- Landlords have an easy life
Rent prices are set by the market:
By setting rent payments too low, landlords could find themselves struggling to afford their mortgage repayments or maintenance – thus leading to fewer properties on the market and a deteriorating housing stock.
Evicting a tenant can take years:
The impression that landlords can evict tenants at will is completely at odds with reality: the Protection from Eviction Act 1977, the Housing Acts and the long court processes make it very difficult, time consuming, and a criminal offence if landlords don’t follow the rules.
Landlords are providing a service:
Like any other private business, landlords provide a service and their customers will leave them if they are not happy with that service. Being a landlord is far from easy, it’s a huge responsibility keeping a roof over someone’s head, but private landlords are providing a valuable community service.
There are some rogue landlords out there, and unfortunately these landlords give everyone a bad name. Responsible landlords want the authorities to clamp down on their activates using the more than adequate laws that allow them to do that. Most responsible landlords feel that their local authorities are not putting enough resources into dealing with bad landlords.
In the end, landlords rely on tenants just as much as tenants rely on landlords, and by far the majority want to ensure that they have a positive long-term relationship.
Landlords often have a precarious life:
The image of a landlord sitting on a beach drinking “smoothies” all day, waiting for the rent to come in month after month is a complete myth.
Any experienced landlord will confirm that it is not easy to make money starting off as a landlord. Many have gone bankrupt in the process and there’s a considerable amount of risk involved.
Being successful as a landlord takes many hours of hard work and dedication and many will testify to having spent many a sleepless night in the process.
As a new landlord you put all your eggs in one basket, all your life savings into perhaps the most expensive asset you can buy, a property. Then you rely on others to make the venture a success: tenants, agents, solicitors, accountants, not to mention your family, who often have to bear the brunt of your problems.
Being a landlord is a 365-day a year, 7 days a week and 24 hours per day job – you are constantly on call. What’s more there’s a constant flow of new rules and regulations to keep up with and comply with.
“With the general election just weeks away it’s important that landlords ensure their needs and opinions are heard so that the private rental sector benefits all involved. As more and more people rely on rented properties for homes, landlords are becoming an increasingly important part of society, so make sure you don’t let negative stereotypes affect your role!”
With the General Election just a few weeks away, Landlords have a Big Interest in who Secures Power in May – http://t.co/5sH5GmNKAP
— LandlordZONE (@LandlordZONE) April 15, 2015