Rhentu

Steven Bletsoe

13 Mawrth 2024, Local Government and Housing Committee

Y sector rhentu preifat: sesiwn dystiolaeth 7

…communication between organisations like us and the Welsh Government, because we represent those good landlords who you want within the sector. So, when you're asking about what the challenges are for landlords, well, the challenge for a landlord was, if they issued an incorrect occupation contract…

Wedi'i dagio oherwydd: “landlords”, “landlord”, “tenant”Cofnod swyddogol

Richard Rowntree

13 Mawrth 2024, Local Government and Housing Committee

Y sector rhentu preifat: sesiwn dystiolaeth 7

And just for the record, those are from the English Housing Survey, those stats that I've just quoted. So, this just comes back to that data point that we need to see the same for Wales.

Wedi'i dagio o deitl ei eitem neu ei gwestiwn: “Private rented sector”Cofnod swyddogol

Timothy Douglas

13 Mawrth 2024, Local Government and Housing Committee

Y sector rhentu preifat: sesiwn dystiolaeth 7

…we have to do our part. And we've done a lot of guidance and work with agents, to work with their landlords, in order to take advantage of any grant funding that's available and do all the quick wins at the property, regardless of the new proposals. But new proposals will come back. Just a quick…

Wedi'i dagio oherwydd: “landlords”Cofnod swyddogol

Richard Rowntree

13 Mawrth 2024, Local Government and Housing Committee

Y sector rhentu preifat: sesiwn dystiolaeth 7

I would just add that the costs for landlords have significantly increased over the last 18 months to two years, mainly driven by 14 base rate rises, from 0.1 per cent to 5.25 per cent, and the knock-on impact that that has had across the cost of finance. Most loans are on an interest-only basis, so…

Wedi'i dagio oherwydd: “landlords”, “tenants”Cofnod swyddogol

Timothy Douglas

13 Mawrth 2024, Local Government and Housing Committee

Y sector rhentu preifat: sesiwn dystiolaeth 7

I think the Republic of Ireland introduced rent controls, didn't they, and they introduced them on, I think, existing tenancies or—. Essentially, what it did was that all the landlords who were already in the market and weren't raising their rents were penalised against new entrants, who could raise…

Wedi'i dagio oherwydd: “rent controls”, “landlords”, “rent control”, “renting homes”…Cofnod swyddogol

Steven Bletsoe

13 Mawrth 2024, Local Government and Housing Committee

Y sector rhentu preifat: sesiwn dystiolaeth 7

We have such a large private rented sector in Wales, in my opinion, because there have been decades of underinvestment in social housing. There are people living in the PRS who should be living in social housing and get all of the support that they should get through a social housing landlord. So…

Wedi'i dagio oherwydd: “private rented sector”, “landlord”, “Renting Homes”, “rent controls”Cofnod swyddogol

Joel JamesCeidwadwyr

13 Mawrth 2024, Local Government and Housing Committee

Y sector rhentu preifat: sesiwn dystiolaeth 7

…that the private rental market suffers from, and I know from when I speak with constituents who are landlords that many of them have inherited a property that they've wanted to rent out or, previously, they've switched their mortgages to a buy-to-let and then bought a bigger property, and…

Wedi'i dagio oherwydd: “landlords”Cofnod swyddogol

Richard Rowntree

13 Mawrth 2024, Local Government and Housing Committee

Y sector rhentu preifat: sesiwn dystiolaeth 7

…the demand/supply imbalance is still the key factor, but also, if you look at the Scottish experience, tenants staying put reduced that supply even more because they were worried about a rental increase during that period, and also we started to see evidence of Scottish landlords buying in England…

Wedi'i dagio oherwydd: “tenants”, “landlords”Cofnod swyddogol

Steven Bletsoe

13 Mawrth 2024, Local Government and Housing Committee

Y sector rhentu preifat: sesiwn dystiolaeth 7

…and there used to be a rent assessment committee that looked at high spikes. You got rid of that in the Renting Homes (Wales) Act 2016. So, you had the mechanism, as a Government, and you got rid of it. So, you need to be thinking about the ramifications of implementation of legislation.

Wedi'i dagio oherwydd: “Renting Homes”Cofnod swyddogol

Timothy Douglas

13 Mawrth 2024, Local Government and Housing Committee

Y sector rhentu preifat: sesiwn dystiolaeth 7

Well, a temporary reprieve on the 4 per cent, for a short period, could balance things out in order to—. A lower rating or zero rating to encourage that. So, I think, yes, as Steven said, it's about supply, but there are existing levers the Welsh Government have got through the tax system that they…

Wedi'i dagio o deitl ei eitem neu ei gwestiwn: “Private rented sector”Cofnod swyddogol

Steven Bletsoe

13 Mawrth 2024, Local Government and Housing Committee

Y sector rhentu preifat: sesiwn dystiolaeth 7

Improve the supply. This is as close an analogy as I can have: if you have a specific car that you want and you can find seven of them on the market, you dictate the purchase price. If you have a specific thing in mind for a property or a car, and there's only one available, you'll pay whatever it…

Wedi'i dagio o deitl ei eitem neu ei gwestiwn: “Private rented sector”Cofnod swyddogol

Sam RowlandsCeidwadwyr

13 Mawrth 2024, Local Government and Housing Committee

Y sector rhentu preifat: sesiwn dystiolaeth 7

On the point around rent controls, do you think there's anything that should be done at all to mitigate any extreme spikes in rents at all?

Wedi'i dagio oherwydd: “rent controls”Cofnod swyddogol

Timothy Douglas

13 Mawrth 2024, Local Government and Housing Committee

Y sector rhentu preifat: sesiwn dystiolaeth 7

…think, in all parts of the UK, the second largest tenure outside of owner-occupiers, so let's speak of landlords and agents in the private rented sector as key housing providers. I think that goes back to the crux of that vision, that strategy. It's a key housing provider. But across the tax regime…

Wedi'i dagio oherwydd: “landlords”, “private rented sector”Cofnod swyddogol