Reddit discusses:
https://www.reddit.com/r/Scotland/duplicates/16icjwp/rents_rising_faster_in_scotland_than_london_as
/r/Scotland reees: 34% upvoted, plenty of seething in comment directed at both landlords and Telegraph.
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Regulation on how much rent can increase over a given period of time. In this case, it's capped at 3% growth per year.
The problem is that, well, inflation exists. If a landlord wants to guarantee long-term profit, he has to increase the rent as much as possible every year or else risk falling behind.
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They first tried rent control in NYC and Toronto in the 1970s and housing supply in both was sharply reduced at a faster rate than ever, amplifying housing issues. This turned rent control units into a small set of properties usually owned by the upper / middle class (and wouldn't never move) who had roots in the city while the young and poor increasingly got pushed to the edges while their rents increased rapidly.
The people who had rent control units would trade them among family like nepotism so it never cycled back into the marketplace. local NYC papers interviewed wall St bankers and old wealthy families who had precious rent controlled properties they handed off to their kids.
Meanwhile landlords had zero incentive to maintain properties as it was a negative cost ratio, so in poor areas they simply burned down the place, there was mass arson of tenement buildings in the Bronx and lower easy side in 1980s NYC.
The gov made it cheaper to burn down a building than continue renting it out in one of the most popular in demand cities in the world
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Oh and Toronto's new mayor has made city wide rent control a policy position in 2023
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It's like one step above a child's idea of "they should just make everything free" because Mom says she can't afford to buy him an xbox
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Rent control caps the rate you can increase rent on a house, this causes a big sell off as renting is no longer profitable for lots of landlords and disincentivises anyone from moving out of the remaining rental properties incase they lose out on their sweet deal. Therefore anyone looking to rent in the area now has to look outside the rent controlled zone meaning they get a house in a worse location and at a more expensive price because there's so much competition for them
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So its "frick you got mine" the policy. Sounds great tbh.
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Later:
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a friend had been whining about not finding anywhere to rent in edinburgh. didn't realise it was rent controlled. next conversation will be very funny thx
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Edinburgh is fricked from international students and Airbnb renters, Glasgow is significantly cheaper because it doesn't have those problems to the same degree.
All of Scotland suffers mostly from over zealous pro-tenant legislation. In Scotland you cannot have a fixed term rental contract (unless explicitly short term) the only way to remove a tenant is through a violation of an eviction term. While the tenant only needs to give 28 days notice to move out whenever they want. You can only raise rents once a year and this raise is capped at an updated percentage. because of this the easiest way to remove a tenant is to move into the property yourself or sell the property, all of which can be contested by the tenant (and you need to provide like 3 months notice)
Another fun fact: not paying rent alone was found not to be a grounds for eviction, you need at least 3 months unpaid rent before you have a chance. Although there's been an eviction ban since covid that's even extended over and over anyway so looks like you're out of luck anyway.
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not convinced that ethnics and airbnb are the reasons shithole tenements built in the 1800s are now worth millions
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I don't think it's rent control either, what are we talking about?
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i didnt really address what you said. fair
airbnb/internationals increased years before rent did. lag doesnt make sense
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But they do have the same root problem. Regulation.
Airbnb is a good way to get around rent control and hotel regulations
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lmbo. who would have thought importing thousands of people would create more demand for housing.
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The only country that can absorb a shit-ton of immigrants is the US simply because its money attracts the cream of the crop legal immigrants and the the cream of the crop illegal immigrants.
Yuropoor seething and coping that they're better than US and then enacting similar US practices will be the death of them.
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In case you missed it $2 trillion of the $6trillion USA budget is gibs, much of it to aliens, and the tax receipts are only $4trillion, USA is not doing well
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I'm counting $2 trillion (Social Security and Medicare) going to boomers who turn around and demand that taxes to be lowered
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We will die last, and if necessary bring everyone with us.
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ofc eviction bans and market uncertainty would rapidly increase prices.
Jesus Christ these people are r-slurred
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Sorry chud but supply and demand don't real, and if you want to argue with me you have to read this 800 page textbook about modern monetary theory first. No, I've never heard of the Chicago school why do you ask
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Get rid of fake asylum seekers and immigrants.
Wow, way less demand on the housing market. I wonder what that will do
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scotland is 96% white
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One drop rule
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Sweet child
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None of them want to live in Scotland, that's why they're all free to virtue signal about refugees
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Nooooo! We need them and need to pay their rent for them! It's their human right!!!
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I'm incredibly disappointed. A couple of years back all Scottish subreddits were mandated a quota of regular posters who must, by law, poast i'teh coamplitlee incomprehensibul Caledonian ebonics divven't ye know there lassie. Help ma'Boab but thir lettin' th' syde doon gud an' proper. Oh aye.
Bring back the 'Scots is a real language' posters!
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looking forward to an independent scotland
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Lol, solution is to double down with rent control. Into the pod you go.
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fixed reddit link: https://old.reddit.com/r/ukpolitics/comments/16icrry/rents_rising_faster_in_scotland_than_london_as?sort=controversial
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I deliberately linked to the duplicates overview to cover all three discussions.
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yeah but then snappy won't link pullpush.io for it
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GOOD point.
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/r/leopardsatemyface
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Snapshots:
archive.org
ghostarchive.org
archive.ph (click to archive)
/r/LoveForLandLords:
undelete.pullpush.io
archive.org
ghostarchive.org
archive.ph (click to archive)
https://www.reddit.com/r/Scotland/duplicates/16icjwp/rents_rising_faster_in_scotland_than_london_as:
archive.org
ghostarchive.org
archive.ph (click to archive)
/r/Scotland:
undelete.pullpush.io
archive.org
ghostarchive.org
archive.ph (click to archive)
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Never mess with landlords
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