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Saturday, November 01, 2014

Landlords criticised by the Guardian for minimising risk

The Guardian are at it again with their thinly veiled anti landlord coverage.

It's not necessary what they say, it's the way it is said, and what story they pick out from the many angles they could choose. Unsurprisingly, the story is never about the many private landlord who bend over backwards to make sure that the tenants boiler is fixed.  Or how happy a tenant is with where they live. No.

This week the Guardian are highlighting that large landlords avoid tenants on zero hours contracts.
They accuse private landlords of preferring a tenant earning a shed load of cash on a permanent contract rather than one on a zero hours contract, where the tenant has no guarantee income every month. The story seems to have two parts. One that zero-hours contracts are not a great credit risk.  The other aspect seems to highlight the fact that landlords are 'ruthlessly' rational when assessing the likelihood of receiving their rent.

Landlords are not a charity but a business that benefits us all 

When will the Guardian get the fact that landlords are not a charity (I would point out that charities are not a charity either - most run on a pretty shameless business footing). Each landlord clearly works in their own interest to minimise their risks and maximise their overall returns. Collectively, we as a country gain as the UK benefits from approaching 4.9 million households being housed by private landlords according to buy-to-let mortgage lender paragon.Government predictions indicate that by 2032 one third of properties will be in a house owned by a private landlord. These tenants are being housed at not only NO expense to the public purse but also increasingly by a sector that is also a great tax revenue generator because of record rental profits.

All this is conveniently overlooked if you are trying to portray residential landlords as the nations No.1 bogey man!

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