So politics and funding policy aside, retrofitting has a clear value for social landlords – especially those able to harness the benefits of doing major work in high-rise blocks or over large estates.
An upheaval in capital positions would mean huge losses in market value not just for landlords but also for the pension funds that hold positions in commercial property.
Target rents define a "maximum" rent, and the Homes and Communities Agency value-for-money regulatory standard expects all landlords to take "a view in the round of the optimum sustainable performance of all their assets – including for example financial, social and environmental returns – in the context of meeting their organisation's purpose and objectives".
Huge state investment into mega-infrastructure projects like the London Overground and Crossrail are explicitly designed to drive up land values, starting a gold rush for landlords, and developers along their route.
"Even before the EU referendum, high prices, low yields, unaffordability, tax changes for landlords and poor value for money for overseas buyers were creating strong headwinds in the London housing market, which will intensify following the vote to leave".
The roundtable was told, too, about the greater flexibility and better value-for-money services that can result from splitting the landlord and housing management functions.
For landlords, Breather allows property owners to generate value from underutilized space by providing a turnkey digital booking system, as well as expertise in the short-term rental space.
Loath to set lower rent benchmarks because they reduce a building's value, landlords look for other ways to cut tenants' costs and perhaps stroke their egos.
For landlords, it is a mixed bag.
For landlords, it translates into cash.
