Google: Your New Landlord?

How would you feel about renting a flat from Google or Apple?

That may be on the cards if the property industry succeeds in convincing the Government to back the introduction of build-to-let schemes in the UK.

Build-to-let encourages big business to buy whole blocks and rent them out as branded accommodation.

So instead of paying your rent to Bob the part-time buy-to-let landlord, you’ll hand over your hard-earned coin to “Google or Virgin style brands”.

The advocates – including what one commentator has called “an unlikely and unholy alliance” of Shelter and The British Property Federation – argue that tenants will be the real winners (there’s a discussion of the subject here: Today Programme – Feb 08).

The quality of the property, they say, will be more predictable; you won’t get slung out onto the street if your landlord can’t pay the mortgage; leases will be longer than six months; and your leaky tap will get fixed pronto … though it might also mean this…

I can see the sense in that – pretty much everyone who’s searched for a good rental property has a horror story about some sweaty bloke in a string vest showing them round a rancid basement with chanterelles sprouting from the lino.

But on the other side of the coin, I’m not so sure I’d want to live in a branded block populated exclusively by tenants.

I currently rent a period conversion in an area with an interesting mix of people – some renting, some owner-occupiers – and my landlord is a decent bloke who sorts out problems quickly and leaves me pretty much to get on with it.

True, the sash windows rattle, the boiler, for some mad reason, is in the wardrobe, and the washing machine sounds like a 747.

But would I swap it for a flat in a branded building? I don’t think so (there are enough Apple zealots here at FAP Towers … not sure I could handle a building full of them!)

The Government isn’t convinced either, but they’re currently considering it as part of a major review of the Private Rental Sector (due in October).

It will be interesting to see what they come up with … but in the meantime:

Landlords and tenants: what do you think about build-to-let, and how could the rental sector be improved? (Comment link below).

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