The Progressive Property Podcast Is the Renters Rights Bill a Disaster?
Sean and Kevin dissect the controversial new Renters Rights Bill. Kevin cuts through the fear and media hysteria, explaining why these changes won't be the disaster many landlords fear. With over 20 years of experience and 120+ properties in his portfolio, Kevin is honest about government incompetence, the disappearing middle class and why corporate landlords spell disaster for tenants.
KEY TAKEAWAYS
- Section 21 abolition is not a disaster for landlords as most use it for legitimate evictions anyway
- Beware of corporate landlords taking over, they care about profits, not people
- Rent caps create trapped tenants and artificially inflated new rental prices
- Future proof properties by renovating properly from day one. Avoid being "penny wise, pound foolish"!
- Good landlords rent homes to people, not houses to tenants
- Property remains the most accessible way to build wealth for average people despite regulatory changes
BEST MOMENTS
"I have never, in my 20 years in property, 20 plus years now, never, ever, ever evicted a tenant for no fault. I don't rent houses to tenants, I rent homes to people and I have never evicted a person from their home that was paying the rent on time at market rent and looking after the house."
"The middle class is disappearing in front of our eyes. Look down your high streets. All the middle class shops are shutting down. House of Fraser, Mac, the makeup shop, Ted Baker, they're all disappearing. What's booming? Big expensive shops that the wealthy use and the pound shops."
"Once the big corporations take over, it's the road to ruin. Because the little landlord cares about their tenant, they get to know their tenant. They get to know, like and trust that person... Once the big corporations take over, it'll just be like British Gas."
"You've never seen a millionaire saver, never mind a multi millionaire saver. The only way to become wealthy is through business and property and most business owners, even though they make money in business, they put it into property because it's a safe asset."
VALUABLE RESOURCES
MSOPI – Multiple Streams of Income:
https://www.progressiveproperty.co.uk
ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
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