Disgruntled tenants protested against soaring rents outside the National Landlord Investment Show in London this week.
Protestors accused buy-to-let landlords of “rampant profiteering”, with many chanting, “Landlords! Parasites!” outside the venue in the city.
While those protesting outside demanded rent freezes, buy-to-let investors inside the venue shared tips and advice on how to maximise returns from the private rented sector.
Kane Andrews, 34, an investor who operates more than 60 HMOs through his company, Rockstar, told an audience of property investors that his firm had made £2m tax free in 2022 from refinancing.
He told the press that the protest was “a shame”, adding that “we’re trying to help people.”
The City of London police stepped in when Ranjan Battacharya, a property investor and TV presenter, challenged the protesters’ claims.
“They are misguided and there’s a lack of understanding of what we do,” he said.
The members of the London Renters Union included Peter Wood, who said he and his wife had to move out of their home recently because the landlord wanted to increase the rent by £8,000 a year – a jump of more than 30%.
“I have a serious neurological health condition and I was getting regular attacks when the rent increase was served,” he said.
Across England, the Citizens Advice Bureau estimates more than 300,000 private renters have had to move out of their homes due to a real or threatened rent increase in the last year.
Landlords said they were dealing with rising interest rates, the planned Section 21 eviction ban and a tougher tax regime.
Daniel Paterson, who lets out nine properties in Greater Manchester with his father, Floyd, said they were expecting a four to five percentage point interest rate rise on the business’s debt next year. “The tenant will pick it up,” he said, “because there is so much demand you can pass it on.” But he added: “It’s not right.”
