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

Hardcover (Print)
Buy New
Buy New from BN.com
$112.86
Used and New from Other Sellers
Used and New from Other Sellers
from $98.71
Usually ships in 1-2 business days
(Save 21%)
Other sellers (Hardcover)
  • All (8) from $98.71   
  • New (7) from $98.71   
  • Used (1) from $112.85   

Overview

Recent years have seen a sea-change in attitudes to investment in private rental housing. Although private letting was one of the most important investment outlets in the nineteenth century, for much of the twentieth century private landlordism was in decline. Indeed, the privately rented sector witnessed net disinvestment by landlords for seven decades prior to the late 1980s.

Since then, however, there has been a significant revival of investment in private rental housing and growth in its market share. Meanwhile, the image of private landlordism has greatly improved and the highly polarised attitudes of the past have been replaced by political consensus on the important role that landlords can play in housing provision.

An extensive array of government initiatives was introduced in order to attract new investment back into the private lettings market. This included rent deregulation, the Business Expansion Scheme, Housing Investment Trusts, and Real Estate Investment Trusts. Many of these initiatives were particularly aimed at enticing property companies and financial institutions into the residential lettings market. Yet the revival of letting has come from private individuals investing in so-called 'buy to let' housing rather than from the corporate sector.

Transforming Private Landlords: housing, markets & public policy explores the origins, nature and extent of this revival in the fortunes of private landlordism. It presents an in-depth 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 assesses the extent to which landlordism has been transformed in recent years and the lessons for policy that can be learned from this experience.

This timely book fills a major gap in the literature about an important actor in housing provision and the built environment; most recent work on private landlords has been published as research reports. It is an extensive scholarly study which has been written with an academic, rather than a policy-orientated audience in mind. Drawing on findings from the authors' research and interviews conducted with thousands of landlords in Britain, it will be of interest to lecturers, students and researchers in housing studies, urban studies and town planning, real estate, urban and social geography and public policy.

Read More Show Less

Editorial Reviews

From the Publisher

“Notwithstanding these observations, the book is a must for those of us with an interest in the PRS andI thoroughly recommend it.” (Housing Studies, 21 September 2012)

"This is an essential text for any housing academic - undergraduate, postgraduate and upwards - or policy practitioner seeking a basic understanding of the history and workings of the private rented sector (PRS) ... However, in its definitive summary of the authors' research over the past three decades, the text constitutes a worthy full stop, and signals the prospect of a move forward into new questions, themes, data and analytical frameworks." (International Journal of Housing Policy, 1 December 2011)

Read More Show Less

Product Details

  • ISBN-13: 9781405184151
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 12/21/2010
  • Series: Real Estate Issues Series , #36
  • Edition number: 1
  • Pages: 240
  • Product dimensions: 6.90 (w) x 9.70 (h) x 0.70 (d)

Meet the Author

Tony Crook is Pro-Vice Chancellor and Professor of Town and Regional Planning at the University of Sheffield.

Peter Kemp is Barnett Professor of Social Policy at the University of Oxford and a Fellow of St Cross College.

The authors are leading academic experts on privately rented housing in Britain, a subject that they have been researching separately and together since 1978 and 1979 respectively. They have conducted a succession of quantitative and qualitative studies of private landlords and are the authors of numerous reports and other publications on this topic.

Read More Show Less

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

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)