So are Landlords finished?
Discussion
Killboy said:
NerveAgent said:
Careful, landlords are a very fragile people.
How does the government expect people to have their additional properties paid off by others that have no choice?Luckily all these landlords exiting the market and driving rent prices up due to supply and demand are reflected in the owner occupier market by driving prices….erm up.
Edited by NerveAgent on Tuesday 23 April 21:56
NerveAgent said:
What you’ve got to understand is that young people are crying out for more amateur middle aged landlords / investors / public servants (delete as appropriate for the argument / tax arrangement)
Luckily all these landlords exiting the market and driving rent prices up due to supply and demand are reflected in the owner occupier market by driving prices….erm up.
You have plenty of opinions & plenty of attitude. Do you have anything of value to add to the discussion? Luckily all these landlords exiting the market and driving rent prices up due to supply and demand are reflected in the owner occupier market by driving prices….erm up.
Edited by NerveAgent on Tuesday 23 April 21:56
Presuming you manage to eradicate BTL landlords as you seem to desire- how do you intend to make up the tax shortfall from BTL, both income tax & CGT?
How do you intend to house those with insufficient financial discipline to handle a mortgage? "Ain't got it today , mate- can I give it to you on Monday?" won't cut the mustard and I've seen similar from almst every tenant I've ever had.
Biggy Stardust said:
Presuming you manage to eradicate BTL landlords as you seem to desire- how do you intend to make up the tax shortfall from BTL, both income tax & CGT?
Are you suggesting BTL landlords aren’t real investors and wouldn’t be able to make money in other ways? I’m just highlighting how fragile landlords are when challenged with changes. Seems to be highly effective.
Some landlords get a bad rap but a friend of mine rented a lovely house which I did some repairs on to some absolute fkers. Haven't paid the rent for 4 years. Finally got an eviction this month and is faced with a 40_50k clearance/ renovation bill to add on to the eviction legal costs.
The pictures inside the house are appalling.
She will never recover the costs.
Renting!...let them live on the street.
The pictures inside the house are appalling.
She will never recover the costs.
Renting!...let them live on the street.
NerveAgent said:
Are you suggesting BTL landlords aren’t real investors and wouldn’t be able to make money in other ways?
I’m just highlighting how fragile landlords are when challenged with changes. Seems to be highly effective.
Why would they be any more fragile than any other group of human beings when challenged with change? Some will adapt and some won't. Nothing special. I’m just highlighting how fragile landlords are when challenged with changes. Seems to be highly effective.
Killboy said:
NerveAgent said:
Careful, landlords are a very fragile people.
How does the government expect people to have their additional properties paid off by others that have no choice?Average yields are 4-5% before expenses and tax.
Biggy Stardust said:
Presuming you manage to eradicate BTL landlords as you seem to desire- how do you intend to make up the tax shortfall from BTL, both income tax & CGT?
And we mustn't forget all the juicy tax penalties and interest on their failing tax avoidance structures either.Good Plan Ted said:
https://publications.parliament.uk/pa/bills/cbill/...
The final list of amendments to the Renters (Reform) Bill has been published by parliament ahead of tomorrow’s third reading of the legislation, during which each will be discussed and voted on.
Several new amendments have been added which may cause alarm among some BTL investors, while some have been designed to ‘bolster landlord confidence’ as Michael Gove put it recently.
The new ones that will raise eyebrows the most are from Labour. These include banning bidding wars, the latest idea from the party’s shadow housing minister Matthew Pennycook and also prohibiting landlords or agents from insisting on a ‘rent guarantor’, this time from Labour MP Alex Sobel.
Research reveals that approximately a fifth of tenants are asked for a guarantor.
Another somewhat baffling amendment would see student landlords banned from signing up tenants months before the academic year begins, as proposed by MP Paul Blomfield.
And finally, Green MP Caroline Lucas wants to use the legislation to raise the minimum EPC level for all rental properties to a C, a measure Rishi Sunak U-turned on last year.
No guarantor is going to make it very hard for some to rent. Its especially true now that rental properties are hard to come by. A landlord will simply pick a tenant with good references and a decent income. It's already a broken market.The final list of amendments to the Renters (Reform) Bill has been published by parliament ahead of tomorrow’s third reading of the legislation, during which each will be discussed and voted on.
Several new amendments have been added which may cause alarm among some BTL investors, while some have been designed to ‘bolster landlord confidence’ as Michael Gove put it recently.
The new ones that will raise eyebrows the most are from Labour. These include banning bidding wars, the latest idea from the party’s shadow housing minister Matthew Pennycook and also prohibiting landlords or agents from insisting on a ‘rent guarantor’, this time from Labour MP Alex Sobel.
Research reveals that approximately a fifth of tenants are asked for a guarantor.
Another somewhat baffling amendment would see student landlords banned from signing up tenants months before the academic year begins, as proposed by MP Paul Blomfield.
And finally, Green MP Caroline Lucas wants to use the legislation to raise the minimum EPC level for all rental properties to a C, a measure Rishi Sunak U-turned on last year.
Edited by Good Plan Ted on Tuesday 23 April 20:14
25 renters chasing each rental...
https://www.bbc.co.uk/news/business-67006468
PH thread on the state of the rental market...
https://www.pistonheads.com/gassing/topic.asp?h=0&...
Making EPC C minimum will render some areas impossible to rent in. My places are all 60's build with modern heating systems (better than my own) and only 1 gets a C. The rest are D. To get C would meant fitting floor insulation etc which means digging the ground floors up.
I can get better returns from investing in funds though, and it's tax efficient I'm not that bothered if I'm forced to sell up. You can get 5% returns on cash these days!
Haha mad. It would be hysterical if it was not so sad.
Where are people who currently rent going to live?
What will those who don’t pass credit checks do? If guarantors are not allowed? I suppose their solution will be to ban credit checks?
How do you stop a bidding war? It just smacks of typical Labour Party w
kery, something to appeal to their core support without concern for the consequences or practicalities, it don’t matter as it reads well in the guardian. As things stand advertise a flat for a rent, 30 or 40 people will be interested a few will make an bid over to secure the property. Surely if this is banned the property will just be offered at a daft rent and let tenants offer under asking price?
This is how it was until the war on landlords started in 2016/17. Tenants would offer under asking as there was no real shortage of rental properties.
Where I used to have my BTLs there used to be 250-300 2 bed flats on rightmove at any time and maybe 100-150 1 bed, this based on watching the market since 2008 and it was pretty constant. It has fallen over the last 4 years, currently there is 54 1 bed and 78 2 bed to rent.
I had a studio flat that used to rent for £475 pcm in 2019min the same block now £950.
It’s so so sad a rental crisis was fabricated to sow division and offer political opportunity, so a weak populist government took the demanded action and have made the lives of those renting vastly worse. What’s worse is non of the fking idiots have thought hang on we fiddled with the market and fked it up let’s stop. Not keep on meddling and making it worse.
Where are people who currently rent going to live?
What will those who don’t pass credit checks do? If guarantors are not allowed? I suppose their solution will be to ban credit checks?
How do you stop a bidding war? It just smacks of typical Labour Party w
kery, something to appeal to their core support without concern for the consequences or practicalities, it don’t matter as it reads well in the guardian. As things stand advertise a flat for a rent, 30 or 40 people will be interested a few will make an bid over to secure the property. Surely if this is banned the property will just be offered at a daft rent and let tenants offer under asking price?This is how it was until the war on landlords started in 2016/17. Tenants would offer under asking as there was no real shortage of rental properties.
Where I used to have my BTLs there used to be 250-300 2 bed flats on rightmove at any time and maybe 100-150 1 bed, this based on watching the market since 2008 and it was pretty constant. It has fallen over the last 4 years, currently there is 54 1 bed and 78 2 bed to rent.
I had a studio flat that used to rent for £475 pcm in 2019min the same block now £950.
It’s so so sad a rental crisis was fabricated to sow division and offer political opportunity, so a weak populist government took the demanded action and have made the lives of those renting vastly worse. What’s worse is non of the f
king idiots have thought hang on we fiddled with the market and fked it up let’s stop. Not keep on meddling and making it worse.I am selling one of my properties.
Tenant is therefore having to move out to a smaller place and 25% increased rent.
I know of another person selling as he needs to to aford the 20% vat on private education.
I know of another person selling 2 blocks of appartments.
cant see here ending well at all.
Tenant is therefore having to move out to a smaller place and 25% increased rent.
I know of another person selling as he needs to to aford the 20% vat on private education.
I know of another person selling 2 blocks of appartments.
cant see here ending well at all.
Once land lords stop renting, I presume the stock gets sold and people continue living in them?
Rivenink said:
The answer is we need to bring down house prices.
We need to build more. Proper development plans with appropriate public infrastructure.
We need to regulate and set stringent standards of upkeep on homes for let.
We need to tax corporate ownership of housing properties more. Tax exemption for co-operative housing societies that operate on a not for profit basis.
I don't think we'll get anything like that, much as I wish Labour would.
I think assets will continue to be bought up by the very wealthy, and there will be very little ownership of property by the middle clases down.
No we don't need to start building more, we need to bring back into use the many empty and often derelict property that is around, houses, pubs, even industrial buildings.We need to build more. Proper development plans with appropriate public infrastructure.
We need to regulate and set stringent standards of upkeep on homes for let.
We need to tax corporate ownership of housing properties more. Tax exemption for co-operative housing societies that operate on a not for profit basis.
I don't think we'll get anything like that, much as I wish Labour would.
I think assets will continue to be bought up by the very wealthy, and there will be very little ownership of property by the middle clases down.
Rivenink said:
The answer is we need to bring down house prices.
We need to build more. Proper development plans with appropriate public infrastructure.
We need to regulate and set stringent standards of upkeep on homes for let.
We need to tax corporate ownership of housing properties more. Tax exemption for co-operative housing societies that operate on a not for profit basis.
I don't think we'll get anything like that, much as I wish Labour would.
I think assets will continue to be bought up by the very wealthy, and there will be very little ownership of property by the middle clases down.
700k extra people arriving each year, houses will never catch up.We need to build more. Proper development plans with appropriate public infrastructure.
We need to regulate and set stringent standards of upkeep on homes for let.
We need to tax corporate ownership of housing properties more. Tax exemption for co-operative housing societies that operate on a not for profit basis.
I don't think we'll get anything like that, much as I wish Labour would.
I think assets will continue to be bought up by the very wealthy, and there will be very little ownership of property by the middle clases down.
TX.
paul.deitch said:
Some landlords get a bad rap but a friend of mine rented a lovely house which I did some repairs on to some absolute fkers. Haven't paid the rent for 4 years. Finally got an eviction this month and is faced with a 40_50k clearance/ renovation bill to add on to the eviction legal costs.
The pictures inside the house are appalling.
She will never recover the costs.
Renting!...let them live on the street.
No no no it's the scummy landlords!The pictures inside the house are appalling.
She will never recover the costs.
Renting!...let them live on the street.
TX.
Biggy Stardust said:
You have plenty of opinions & plenty of attitude. Do you have anything of value to add to the discussion?
Presuming you manage to eradicate BTL landlords as you seem to desire- how do you intend to make up the tax shortfall from BTL, both income tax & CGT?
How do you intend to house those with insufficient financial discipline to handle a mortgage? "Ain't got it today , mate- can I give it to you on Monday?" won't cut the mustard and I've seen similar from almst every tenant I've ever had.
Move to corporate landlords. Blackrock, State Street or whoever you favourite asset fund manager may be. The government can't afford to become landlords. That'll be fun!Presuming you manage to eradicate BTL landlords as you seem to desire- how do you intend to make up the tax shortfall from BTL, both income tax & CGT?
How do you intend to house those with insufficient financial discipline to handle a mortgage? "Ain't got it today , mate- can I give it to you on Monday?" won't cut the mustard and I've seen similar from almst every tenant I've ever had.
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