Well, here's a provocative statement, for you. Whether you're in property or not, I'd love to hear your thoughts on this. With unending negative press about us greedy landlords and how we are a thorn in the side of society, driving up prices and taking houses from people left, right and centre, it was more than refreshing to hear another perspective. At this month’s Midlands Investor Network Group hosted by Mark Burrows you could have heard a pin drop as Trish McGirr talked us through a very people-centric and stressful side of property and its link to mental health and suicide. - £1.9bn is the cost of the UK debt industry. - 1,826 people in UK declared bankruptcy in the last quarter. - 77,000 households are currently at risk of not paying their mortgage and so losing their home. - And at the same time there are 12% less rental properties available vs this time last year. So where do those people live, and who will rent to them if they are in the dangerous mid-ground between earning enough to disqualify for council housing but with a shot credit rating disqualifying them from passing landlord credit checks. She went on to explain the very direct link between the cost of a home, losing a home, bankrupcy, shame, hopelessness and suicide. From her personal experience. One of the most thought-provoking talks I've heard for quite some time about the role of 'property people' in a) saving desperate homeowners from bankruptcy, b) providing solutions to homelessness and c) as landlords, having the ability to adjust our credit criteria to help would-be tenants who are otherwise stuck. I will definitely be looking beyond the numbers on credit checks for applicants in the future. Does this stir any thought in you, or encourage you to think of your focus or criteria in any way? If you're experiencing financial struggle, changeline.Co.uk could be a helpful resource #landlords #debtmanagement #findingsolutions
I agree Trish McGirr has a very different and compassionate message she puts across powerfully. I agree society is too focused on the blame game and don't understand the property market, supply and demand and so it is all to easy to lay the blame at the foot of landlords, rather than addressing the root causes. .... Especially with pressure groups like Shelter espousing that kind of message, along with the media.
Trish McGirr is a fabulous speaker and has a great proposition. I agree. There are some very good landlords and they can save lives in some instances
Very moving statistics Jess. We’ve always used referencing as just a starter and in fact some of our best tenants have been people who, on paper, failed the affordability checks but proved with their bank statements that they were in fact superb at managing their finances.
A really insightful presentation indeed Jess . Landlords dont always get the best 'press' either The presentation can be viewed here if anyone is interested https://www.youtube.com/watch?v=5XpPuIkBocM Future events link too https://linktr.ee/mingbirmingham
Amazing post, there certainly needs to be more awarnes of this and more collaboration between council government charaties and landlords. Wouldn't it be great if the above all supported landlords instead of bashing them at every opportunity they get. Responsible Landlords could be the answer to help resolve homelessness and aid contribute to mental health sector.
That’s it. Landlords put roofs over people’s heads. Love the idea of adjusting your credit checks
Landlord | Blogger | Podcaster | Former General Counsel
11moVery interesting and I agree that landlords need to be socially responsible. Sadly, I think that the abolition of Section 21 will make landlords far more cautious about tenant selection to avoid having to go through a slow court system to regain possession if tenants fall into arrears