Reported Buy to Let troubles in the UK market….
Posted by jamesdearsley on April 8, 2009
I remember distinctly when the Local Housing association introduced the new legislation dictating that Housing association tenants would be paid rent directly rather than it going straight to the landlords. I remember thinking that this would all go horribly wrong. This report in the Telegraph only supports this fact.
It used to be quite a safe bet for landlords to rent properties out to HA tenants because rent would be paid direct and so there wouldn’t be any problems chasing rent. Now however, according to this report 52% of Landlords will not be or are less likelt to be renting out their properties to HA tenants. Surely this is a negative for both the landlord and the for tenant who ultimately will have fewer properties to choose from in the future.
It is sad because previously the relationship seemed to be working quite well and gave both parties some degree of security. Maybe the Local Housing Association will have to review this policy now to revert it back again?