Fed-up landlord Sue is quitting the sector – and taking a hit on her pension plan – after being ground down by anti-landlord rhetoric and red tape.

In a heartfelt message to Whitehall ministers that serves as a reality check for the Government, Sue explains that she’s taken the reluctant step to sell all four of her properties years earlier than planned.

“As a landlord, I am considered a social pariah, vilified in the press, and penalized by legislation and financial constraint,” she tells LandlordZONE.

“When it suits, for taxation purposes, I’m running a business, but if I try to access expenses to which a standard business would be entitled, suddenly I am not.

No training

“I’m expected to take on the role of the Border Agency by checking immigration status – a job for which the government provide no training and, if I get this wrong, for which I will personally be responsible.

“And I’m no longer entitled to any tax relief from mortgage interest, forcing down my profit margin.”

The removal of Section 21 will be the final straw, explains the Oxfordshire-based landlord, who has only once used a notice after unsuccessfully trying to support her tenant.

“In itself one bad tenant would not cause me to turn my back on 20 years of work, but I feel totally unsupported by the government,” says Sue.

2am calls

She insists that she’s always taken her role extremely seriously and doesn’t use a letting agent, which means sometimes taking calls at 2am, acting as a benefits advisor and counsellor.

Sue also allows pets, only offers fixed-term tenancies to give tenants security and won’t even take deposits to help reduce the financial burden.

But Sue is now extremely saddened that her PRS experience is coming to an end.

“These are my properties, I have sweated blood for them but I won’t re-let them when the tenancies end,” she adds.

“They’ll probably get bought by first-time buyers, contributing to a shortage of rental properties, pushing rents up – and landlords will get the blame.”

Sue attended the recent LandlordZONE webinar on the changes to the PRS proposed within the government’s White Paper. Watch it here.

18 COMMENTS

  1. Sue’s feelings are echoed by many of us. Tenants are already finding it hard to rent a property or struggling with rent increases and yet the Govt insists on sticking to the same path.

    Most tenants are happy with their LL yet the Govt insists on pandering to the likes of Shelter & GenRent who between them are doing huge damage to the PRS.

    instead of driving the rogue LLs out of the PRS their actions are forcing the good LLs to leave. Once gone, we won’t return – my first rental completes tomorrow to FTBs – that’s one lovely 3 bed family home no longer available to rent, purely due to Govt policies. 🙁

    • I have had the same experience, the cutting of tax relief on mortgage interest was the last straw. Lots of aggravation and upset with no back up from government. Our final property is for sale, we have a buyer- the tenants will not move out and they have more rights over my property than I have. You could not make our situation up- it’s absolutely unbelievable.

  2. Exactly how many landlord feel Our lunatic government and shelter have driven this forward and they will get the results they deserve. But of course the great deceptors will blame everyone else. This is why NO ONE trust politicians. So carry on you anti landlord tenants and charities and see where it ends – tenants will be the losers.

  3. I read these heartfelt comments and I think “This scum of the earth bunch of spivs that purports to be our government won’t give a damn!”.

    They don’t want small landlords. They want big corporate ones. They also want to look (don’t laugh) all caring and sharing. Caring about all those young couples out there being exploited by nasty landlords. You see, young people vote for longer than old people…

  4. Yup, am currently selling one property, the other in the next tax year. Have had enough of being an easy punchbag for ignorant politicians.

  5. I am also selling my portfolio. I am not evicting tenants But as they move out the property is up for sale. I am now selling my third property. I don’t overcharge on my rents and I am there straight away if there are any problems financially or for repairs. But given all the additional, governmental charges eg licensing, loss of mortgage interest, making tax digital, [it just the quarterly return] and potential loss is s21 notices etc. I no longer want the hassle.

    • I did the same, sold properties as tenants moved out, over the last 4 years.
      My last property has been a landlord’s nightmare, letting agent incompetence adding to the trouble. Our tenants have received advice from CAB, telling them to breach their tenancy agreement ( which is a legally binding document) and stay in my property until they receive a court order, which can be a long drawn out process as you will know if you’ve ever had to do it. I am at my wits’ end and now paying a solicitor to do what the letting agent should have done. I would not advise or encourage anyone to be a PRS landlord. Rant over!

  6. Its clear from this article and lots of other research available that the PRS is shrinking.
    The govt have made it clear that its their aim to reduce the size of the PRS with the thinking being that as landlords sell, owner occupiers will buy which the govt hope will alleviate the pressure on the shortage of properties available to buy.

    Of course, it will create a shortage of rental properties available but the govt don’t care about that, homeowners drive much of the economy with DIY, property upgrades, climbing the property ladder, etc etc. in turn that keeps B&Q etc in business and tradesmen in work and solicitors in luxury.
    Tenants do none of that.
    Tenants also don’t pay stamp duty, capital gains tax etc etc
    Tricia is a prime example of a landlord selling up to a homeowner rather than to another landlord so the PRS reduces in size and one more household gets onto the property ladder. The stated aim of the govt.

    Whilst most of the posters in this article and many other recent articles suggest they are selling up and leaving the PRS.

    I’d like to offer an alternative “Uplifting” scenario to those willing to remain in the sector.

    Its basic economics of supply and demand that dictate prices / rent levels so as fewer properties are available for rent and the population continues to grow (Which is it doing) no sign of any drop in inward migration for starters!!!
    Therefore, rents must go up, over and above normal levels as the demand increases and tenants are prepared to pay.

    So… For those landlords who sold off old properties and re-invested in modern they have no EPC “Issues”, they own properties that need little maintenance, are cheap to run compared with older properties and are attractive to tenants already.

    So, I would suggest that those prepared to stand firm could be not facing a “Cliff edge” but rather a “New Dawn” of prosperity created by govt policies for the benefit of landlords. Rather than being “Anti Landlord” govt policies could prove to be the gift that keeps on giving. As tenants out do each other for the only available property in the street and the landlord gets to pick only the very best tenants from a huge pool of potential.

    Brexit bonus…
    As properties become increasingly expensive to rent a further exodus of EU citizens will be an added bonus. Don’t worry they won’t be homeless; they can just return to the properties they already own or rented in Europe before choosing to become economic migrants and travelling to the UK.
    That exodus will also provide further employment opportunities for locals. British Jobs for British Workers as I recall Gordon Brown used to say and that fits well with current Conservative Party thinking who these days are more left wing that Corbin!!!

  7. I had 13 properties a few years ago and generally sold off the one’s that only attracted problem tenants , i’m down down 8 having sold one to FTB last year and now with a tenant leaving I’m selling that one too , down to 7 , come february next year another one will go – at the rate of one per tax year I’ll be down to 5 in no time , as a letting agent with 28 other landlord properties – 2 of which are currently SSTC i can only see the supply in PRS dwindling and the remaining stock being highly sought after thus pusshing up rental prices for tenants – i don’t see that tenants are the winners only the government who reap the CGT on my sale and maybe some SDLT on the repurchase if new buyer isnT SDLT exempt . Why the hell is the Governent hell bent on allowing tenants to buy social/council housing at a discount it just reduces the stock level for those who desperatly need low cost housing, Coucils should be forced to build a set number of “council houses” for those on their waiting lists and NEVER sell them to tenants

  8. TBF – To Be Frank
    This (or any extant government) do or would not care. The consequences of dumping challenging tenants in the PRS is now coming home. Issue remains the current crop of politicians in a position to do anything about it will be long retired by the time we have all adopted Sue or maybe more likely Mike 16th July 2022 at 1:53 pm course of action.
    All actions have consequences and it will be interesting to see how this plays out in 10/15 years.
    By then I suspect that the majority of PRS properties will be in the hands of large SPVs (such as that being set up by John Lewis and I think Lloyds Bank).
    I cannot imagine them being as accommodating as the majority of the small but professional landlord cohort are who self manage currently are.

  9. Result I am all sold up!
    Only taken about 7 years.
    I will never again bother to be a tenant LL.

    Lodgers only in future.
    That means never again letting to family units or couples.

    Only single occupants.
    Or a couple can rent two of my rooms but at individual room cost of about £600 each.

    Looking to buy a 4 bed resi property and take in 3 lodgers.

    I can earn more out of 3 lodgers than I ever did from 4 flats.
    Of course no CGT on my PPR.
    The idea of 4 flats was 4 chances of CG.
    Flats turned out to be duds.
    Never invest in flats.
    Fortunately swerved the cladding crisis………….just!!

    Bankruptcy would have occurred otherwise!

    Yes loss of privacy taking in lodgers but having taken them previously they really are no bother.
    They tend to stay in their rooms.

    You rarely see them!

    Of course the ability to be a lodger LL is fairly rare due to domestic circumstances.

    Being Billy No Mates! will give me opportunity to take in 3 lodgers if I can afford a 4 bed house.

    But the tenant market is busted business model.

    Even the escape routes for AST LL of FHL, SA, AirBnB ow appear to be in the process of being closed off.
    This leaves little alternative than for the LL to sell up.

    I believe having sold up that lots of LL will decide to buy larger PPR or extend existing property and take in a lodger.

    After all £7500 is a healthy tax free income.
    Banks will love former LL adding to the value of resi mortgaged properties.

    Passive income is still possible risk free with lodgers.

    Perhaps lodgers will become the new BTL.

    Great for single unrelated professionals.

    No use for any other type of occupant!

  10. We invested in a BTL around 10 years ago. The first years income was written off as we carried out improvements prior to letting but viewed it as a long term investment to bolster our pensions. In 10 years of renting we’ve had no real issues and only had to re-tenant when they’ve moved on. We put up with the loss of tax relief on mortgage interest although couldn’t understand why the PRS LL was treated differently to any other business. We were recently considering purchasing another property which fell into our laps as we are part beneficiaries in a probate sale and spent money on re-wiring some new flooring and the various certifications. We then found out that it falls just within the boundary for requiring a LL license. Add improving from a EPC of D to C, removal of S21 and now talk of being forced to rent to tenants on benefits and pet owners and it’s just not attractive to us any longer, just as both of us have retired. I suspect next a PLL won’t be entitled to stipulate non smokers either.
    Our current rental is on a fixed term mortgage until 2026 but it’s likely that the early repayment fees will be less than the cost of improving to EPC of C standard so will not be renewing the tenancy agreement at let it lapse to a monthly renewal and sell next tax year.
    I too am disappointed in a Tory government’s attitude towards the PRS and the sheer blind “all landlords are evil” rhetoric of organisations such as Shelter who are driving good LLs from the sector. After supporting our current renters through covid and furlough and providing good quality housing to those who can’t afford to buy it’s offensive frankly. Needless to say we won’t be selling with sitting tenants and taking another financial hit! Another two properties lost to renters

  11. We have to echo a lot of what has been said earlier, we have 12 family homes for long term renters, however we will be selling them off as and when tenants serve notice to leave. some of whom have been our tenants for 17yrs. These will all be purchased by FTB’s eventually removing 12 excellent properties from the PRS.

  12. I have similar tale of woo. Started I’m 1991 instead of paying AVC FOR PENSION
    WORKED HARD
    I’ve been widowed since 2011 and this was my pension Gradually all being sold but little equity as tax takes so much
    Tax bill this year doubled
    Down to 5 dropping regularlu

  13. EXISTING…… Had 62 properties….now only 2 to GO!

    Hope the Gov has enjoyed all mine and my hard working tenants TAXS over the years and the BUMPER CAPITAL GAINS TAX Too…!!!!

    But What NOW for Tenants and the GOV….because Im NOT WORKING STUPIDLY just to pay MORE TAX to UNTRUSTWORTHY POLITICIANS……

    ONCE BITTEN….TWICE SHY….!!!!

    WE SHOULD RE-BRAND THE UK as…

    ‘LAND OF NO HOPE OR GLORY…’

    or perhaps…

    ‘LAND OF NO OPPORTUNITY…’

    I’M DONE…!!!!

    BYE… :-((

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