Transforming Private Landlords: housing, markets and public policy / Edition 1

Transforming Private Landlords: housing, markets and public policy / Edition 1

by Tony Crook, Peter A. Kemp
     
 

This book explores the origins, extent and implications of this revival in the fortunes of private landlordism. It presents an in-depth, scholarly analysis of private landlords, the rationales for and ways in which governments have sought to revitalise investment in residential lettings, and their success in doing so. It also assesses the extent to which

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Overview

This book explores the origins, extent and implications of this revival in the fortunes of private landlordism. It presents an in-depth, scholarly analysis of private landlords, the rationales for and ways in which governments have sought to revitalise investment in residential lettings, and their success in doing so. It also assesses the extent to which landlordism has been transformed in recent years and the lessons for policy that can be learned from this experience.

The book draws on the extensive research into private landlords conducted by the authors over the past two decades. This includes projects funded by the Joseph Rowntree Foundation, the predecessor departments to the Department for Communities and Local Government, Scottish Homes, and the Economic and Social Research Council.

It fills a major gap in the literature about an important actor in housing provision and the built environment. Most of the recent work on private landlords has been published as research reports and there is a lack of book length scholarly study aimed at an academic rather than a policy audience.

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Product Details

ISBN-13:
9781405184151
Publisher:
Wiley
Publication date:
12/21/2010
Series:
Real Estate Issues Series, #36
Pages:
240
Product dimensions:
6.90(w) x 9.70(h) x 0.70(d)

Table of Contents

Preface xii

Introduction xiii

1 Private Landlords in Historical Perspective 1

The Victorian landlord 1

The First World War and beyond 4

Post-war decline 7

From control to regulation 11

Private landlordism in the 1960s and 1970s 14

Conclusions 23

2 Government Policy Since 1979 25

Introduction 25

Changing roles for private renting 26

Policy objectives and barriers 27

Reviving private renting: creating new model landlords 31

1980: first steps towards deregulation 32

1989: 'full' deregulation: the overall approach 35

Deregulation of rents and more limited security 36

Supporting and informing landlords 39

Standards, management and deposits 41

'New model landlords' 47

Other key policies 49

Conclusions 51

3 Private Renting Since 1979 53

Reversal of fortunes 53

Improving the stock 57

Deregulating lettings 58

Changing tenants 61

Images of renting 65

Rents and housing benefit 66

Conclusions 69

4 Private Landlords in Contemporary Britain 71

Introduction 71

The evidence 72

Typologies of landlords 72

Landlords in the 1980s 73

Landlords after 1989 78

Managing properties after 1989 88

Investment returns and plans 97

Conclusions 105

5 The Business Expansion Scheme 107

Introduction 107

BES: its origins and the rules for assured tenancy companies 108

Launching the companies 110

Numbers and types of companies formed 113

Funds raised 116

Property acquisition and management 118

Returns 121

Evaluation 122

The longer term 124

Conclusions 127

6 Financial Institutions and Rented Housing 130

Introduction 130

Barriers to institutional investment in residential lettings 131

Housing Investment Trusts: initial proposals and legislation 139

Housing Investment Trusts: the experience 142

Real Estate Investment Trusts: the background and rules 147

Real Estate Investment Trusts: the experience 151

Real Estate Investment Trusts: lobbying for reforms 152

The next step: pump-priming institutional investment 155

Niche market players 158

Conclusions 159

7 The Buy-to-let Boom 161

The buy-to-let mortgage market 162

The growth of buy-to-let 164

Are buy-to-let landlords different? 167

Buy-to-let and the credit crunch 172

After the crash 176

Conclusion 177

8 Conclusions 179

The transformation of private landlords 179

Lessons 181

A broader consensus on private renting? 185

Future prospects 191

References 195

Index 207

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