On the local news this evening, they ran a report saying that landlords in this area are giving tenants 2 weeks notice so that they can prepare to rent out their properties during the Olympics for as much as £5000 a week!! Why doesn't that surprise me? What does surprise me is that they are allowed to get away with it.
I am, what is termed as, a reluctant landlord, I would rather sell my property but can't, but I can't afford to keep it empty either. I HAVE to give 2 months notice if I want my tenant to leave, but the said landlords are giving 2 weeks notice and the tenants are going. Why don't they just stay put? Newham council license ALL landlords in the borough, this is so they can keep a check on standards. Rents here are very expensive, about £350 per week for a 3 bed property. Surely if a tenant is given such little notice they can complain to the council and they then must be able to look at the landlords license and take it away. They have a team of officers who visit privately rented properties and they have taken quite a few to court because of poor standards. Surely not sticking to the terms of the lease is a poor standard?
The estate agents reckon, if they all the landlords evict their tenants to cash in on the Olympics, then at the end of them, there will be a glut of properties which will bring the rents down. If that happens, then I reckon it serves the greedy gits right.