Make an enquiry Make an enquiry
Home Who we are Our Properties Landlords Blog Get in touch Facebook Twitter

Blog

Fake News

Saturday February 17, 2018

I am not sure 2017 was a worse year for ‘fake news’ than any other year since the beginning of time, but it was certainly the year in which the expression came into being. Collins English Dictionary defines fake news as ‘false, often sensational, information disseminated under the guise of news reporting’ and we are all pretty clear what constitutes fake news in the media.

My concern is not so much the ‘Elvis spotted on the moon’ type of fake news. Rather it is when politicians generate much quoted soundbites in order to sway a sector of voters. Late last year Jeremy Corbyn targeted ‘generation rent’ with promises of longer tenancies and the right of tenants to remain in a property when their lease expires.

The spectre of the Big Bad Landlord was conveniently trotted out by newspapers and broadcasters who might have spent a little time checking the facts. Aside from the fact that most landlords are very happy with secure, long term tenants the facts of the matter do not support the knee-jerk view that the private rental sector needs draconian legislation in order to provide security of tenure.

Figures from the Department for Communities and Local Government indicate that on average, private rental sector tenants have lived in their homes for four years. The statistics show that just one tenth of all tenancies in the private rental sector are terminated by the landlord or letting agent. These figures demonstrate that the vast majority of tenancies are terminated by the tenant and that both landlord and tenant are happy with longer tenancy agreements.

At Heaton Property we promote fixed term tenancies which are reviewed every year at no cost to the tenant. The main reason we do not offer longer fixed term tenancies is not because landlords want to hike the rent. It is usually a term in the lease or mortgage that insists upon an annual review. It is hard to see how legislation can overcome that hurdle since banks and building societies are not keen on Government dictating their terms of business.

In Europe where renting is a far more accepted model than here in the UK, longer term tenancies are more common. Longer agreements are generally driven by landlords who seek a long term and mutually beneficial relationship with their tenant. Top-down legislation aimed at protecting tenants will often have the opposite effect as investment dries up and with it, the availability of quality rental properties.

For a whole raft of reasons, Generation Rent is a fact of life and looks set to be so for the foreseeable future. The answer to our lack of affordable homes is not to drive landlords from the market, it is quite simply to build more affordable homes. That and for politicians to stop throwing out juicy soundbites without analysing the background issues. Because, to quote US Congressman Jimmy Gomez, “When fake news is repeated it becomes difficult for the public to discern what’s real”.

Back to blog
Latest from the blog...
Heaton Property VW ID3 Livery

Electric Cars and Olive Groves

Friday March 15, 2024

Read more

Happy Christmas in a Nutshell!

Thursday December 1, 2022

Read more
Introducing our landlords...

One of the many ways we reassure new landlords about our service is by introducing them to existing ones...

In the 3 years we’ve used Heaton Property, we’ve discovered that not only do they take the time to understand what it is I need from them, but they then do that very rare thing – they deliver!

Austen Hempstead

You continue to be the best agent I have ever worked with by a very long way, your willingness to go the extra mile  in providing practical help over and above our contract has been appreciated.

Richard Ford

I knew you would be thorough and successful from both your tone and your sensible reaction to our first enquiry.

Stella Young

© 2024 Heaton Property

Site by Union Room | Terms & Conditions | Sitemap