Government warned for 3 years lending changes would create issues

[SueDonim]

Apologies for bringing up an old thread but I was away and now I'm semi back and want to reply.

"Rents went up consistently before property investors were bailing out big time ... Renters have been squeezed for ages, it's only now that that squeeze is finally tight enough to hit landlords."

Rents have always gone up, just like everything else. They used to be primarily linked to interest rates, but now also have to incorporate all the extra costs imposed by the government - which the government was warned about... And so on.

[Added - Something has gone seriously wrong with the formatting. I've deleted most of the quote because it has gone haywire.]

Just passing through on the computer, mainly looking at Covid numbers which are getting scary. Our current project is a house we bought 20 years ago and can finally afford to do up "properly". All we had to do to keep it legal for the next tenant was a couple of fans and a bit of tidy up would have kept it livable.

But, it now has garage re-clad and re-roofed, now secure and watertight (it wasn't either before). New house roof just completed. Inside walls and ceilings have had the old pinex stripped off and will be re-gibbed (when we can get some). Kitchen is gone. To be completely rebuilt. Ditto bathroom. Re-wiring underway by the sparky. All flooring will be new. Partner does all the work he can, my role is backup: rubbish (eg piling up all the old sheets of iron); grounds (removing fence around old vege garden (that tenants have never used)); and of course keeping up with background support at home. Etc.

By the time we're finished the house will have been empty for about 12 months (ie no income) and the extra rent will take several years to make up what it has cost. The reward will simply be the income coming in off it in future and the fact that we won't have to be constantly fixing things for the next tenant. Plus the satisfaction of having provided a good service to that next tenant, whoever they might be.

But I'm just an evil landlord and you don't want to engage with me. You've read a couple of biased articles and have had a few experiences to call upon and think you know it all. So I'll just fuck off now and do something meaningful.