Right to buy for private tenants

Well I’m a long-standing Labour Party member and I like a lot of McDonnell’s economic policies. But this policy is likely to cause more problems than it solves.

If landlords have to sell their property at a considerable discount when the tenant decides they want to buy, landlords will just not find “buy to let” works for them any more. Initially it will mean landlords selling up. This might well cause the housing market to collapse with knock-on effects for the economy. Negative equity. Recession.

Longer term it would mean private rentals aren’t available anymore.

I agree that tenants need greater rights to have property properly maintained and they need more security, so longer tenancies.

But I think this policy has not been thought through properly.

Just building lots more social housing would help.

I have a flat that is tenanted, we've had a mixed bag as far as tenants are concerned. However, we now have an older couple who seem happy with the flat and we've renewed the lease with them year on year for several years now. Sorry, not being ageist but they have been far better tenants than some of the younger ones we've had, particularly two girls who had other residents complaining about late night door slamming, loud gatherings and sweary guests, plus they were often late with the rent. I hope I'm a good landlord have only increased the rent very marginally in 3 years and that was mainly because the management company hiked up their fees. I won't do that again next year, I value good tenants over getting top dollar rent wise. I make sure any issue is attended to forthwith when my management company advise there needs to be a call out. My tenants have asked for a longer lease, but I've no idea what a change of government would do to the letting market, John McDonnell's proposals are alarming from an owner's point of view. I don't disagree with putting a ceiling on rent rises, or making sure landlords comply with certain standards. Some of the lets I read about in the London Evening Standard through rip off landlords, who have crammed God knows how many young people into vile houses not fit for animal habitation let alone human, disgust me. Landlords can get a bad press, some of course deserve it. I leave it to the management company to do inspections, I'd never arrive unannounced, which happened a lot to one of my sons when he was living in rented accommodation whilst at university. The landlord, without the students permission turned up with builders planning to extend the property whilst they were in situ, bulldozers and all, early in the morning to evening, not conducive to study We, the parents, had to get a solicitor to threaten him with court action and point out what he was doing was illegal, in the end he backed off but he thought he could get away with it because they were kids. A rental property is the tenant's home so sacrosanct as far as I'm concerned. I've never been to the property whilst any tenants have been living there except once when one of them was my son and friend.

I believe the suggestion is that McDonnell would force landlord's to sell to tenants at a discount, if that's the case I would no longer let my property commercially, I've promised it to one of my sons, when he gets his act together,he hasn't managed to get on the housing ladder like his brother and has two children with ex partner. I have to put my own family first and help them as much as I am able to. I imagine J McD's proposals will be counterproductive and could result in less rental property being available.

Slightly off topic. DD and SiL have been out of the rental market for 4 yrs (long story) Despite a very healthy joint income, they cannot secure a new rental as they have no references and although DH and I own our home, as retirees we have insufficient monthly income to be guarantors.
The whole rental market is a nightmare without this happening.

I might be looking for a home in Scotland. Do you have any vacancies?

I agree. Landlords and tenants get a bad press, but I've been in my current house for five years. My landlord has done a couple of repairs promptly and efficiently. I've looked after the house and I'm happy here. The only thing which really worries me is that I could be kicked out with two months' notice, which could happen if he dies or his circumstances change. I don't have the income for a new letting agent to accept me. I'm also worried about how I'll pay the rent when I finally have to give up work, because I won't be eligible for Pension Credit.

I'd like my tenancy to be more secure, but I couldn't afford to buy the house anyway. The tenancy market serves a purpose, provided it's fair.

Right to buy was stopped here in Scotland 2 years ago.Its ridiculous to sell off housing stock at bargain prices when its not being replaced straight away.
I have rental properties and I'm fairly sure my tenants are happy to pay rent and get every little repair done when they need it..and the big repairs they cant possibly afford.Most of ours are on long term leases to suit each individual,its the only way to make people feel its THEIR home when they dont have the threat of having to vacate every year

I haven't read it, but I think it's a silly idea and would be counter-productive. I say that as a tenant (after many years as a mortgagee). It would lead to fewer people and companies investing in the tenancy market. Like or not, private tenancies play a vital role in providing housing. The answer is, I think, to legislate and to enforce fairer terms for tenants.