Summer Budget 2015 – Landlords Reactions

Reply to the comment left by "James Tallis" at "03/08/2015 - 08:53":

Hi James

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Reply to the comment left by "Mark Alexander" at "03/08/2015 - 09:13":

Ok...thanks

Reply to the comment left by "Mark Brown" at "02/08/2015 - 11:16":

Its not a business Mark and if it is then you roll with the punches. It is leveraging cheap money to avoid the risks and graft taken by real business people.

I think you will find little sympathy outside this forum with the geeks, the app developers the mechanics and the guy who makes your bacon sandwich in the morning, not to ignore the dry cleaner, small time car parts maker or the proper hero entrepreneurs such as Richard Branson and Luke Johnson.

You were vital to get George and his mates getting elected but actually depriving the country of much needed housing stock and bragging about it was at best greedy...

As for depriving your children of their future you are in the 4th richest country in the world and they need a help up from Daddy? obviously suffer from your malformed genes.

BTL was never a business it was exploitation and a bit like the Dentist who shot Cecil it's your turn to start running.....

Reply to the comment left by "Mark Brown" at "02/08/2015 - 23:29":

"'You know what you owe - just pay it.' Get used to hearing that yourself Except perhaps you and your accountants don't know your liabilities yet, and likely market reaction in terms of values ahead. Oh well... you got yourselves into such a position. Leverage works many ways, and debt carries risk, and taxation rules have changed many times in history.

Reply to the comment left by "Greg Bowman" at "03/08/2015 - 10:40":

Strewth haven't you got a distorted view on reality Greg?

Of course it's a business. Apart from perhaps banging on about HMRC could you actually give reasons why you state it's not a business rather than ranting please?

I am now on my way out to two houses I own to do repairs so why do you think someone making a bacon sandwich is more of a businessman than me?

I'm thinking you are not a Landlord because you simply don't understand the industry. I'll only bother to give you one example of what a tenant said to me in one of my HMO's. He asked why I wasn't living in the Bahamas or somewhere.

I responded by asking what he was talking about. He told me that he'd worked out how much money I was making from the property to which I replied that if I was making so much money, would I be there on a Friday evening (which it was) trying to fix his ensuite toilet??? No answer to that one!

However he, like you, just doesn't understand the business because you're not in it.

Reply to the comment left by "Greg Bowman" at "03/08/2015 - 10:40":

If you were a business man I suspect you would understand where we are coming from.
If you are employed...or on benefits... how would you like to pay more tax than you brought home every week?

Reply to the comment left by "Lisa Stux" at "03/08/2015 - 10:56":

Well said Lisa. I have a couple of businesses myself and have had others. I see no difference in BTL from those other businesses, except that I could always choose the hours that I work in the other businesses. With BTL I get calls at all times of day and night with the caller expecting an immediate response. Sometimes I have to give it to them, sometimes I don't but I still get the call.

I remember getting one in the very early hours of the morning with a tenant complaining to me that a neighbour had blocked his car in. He was another one that just thinks a Landlords life is so easy and wanted to moan.

Reply to the comment left by "Greg Bowman" at "03/08/2015 - 10:40":

I've tried to see it from your perspective but I cannot get my head that far up my own @r5se.

Goodbye!
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Reply to the comment left by "Greg Bowman" at "03/08/2015 - 10:40":

It either is a business or it isnt.

So greg how do you explain that if it has Ltd on the end of ownership title it is a business but if Soletrader it isnt, bearing in mind they run identical models, in your answer please pay particular attention to the fact that soletraders usually run "businesses" 10x bigger than Ltd within PRS

Reply to the comment left by "Greg Bowman" at "03/08/2015 - 10:40":

BTL is a business, period. We invest our money to buy the 'tools' we need to conduct our business, we work crazy long hours in running the business, we have to make long term plans because it is a 'full on' business and we cannot 'dip in and out' - it's all or nothing.
We work with, and value our customers the tenants, and without happy tenants we would have no business. How does any of that conflict with any other business which provides a service?
I am not saying that the BTL market cannot benefit from monitoring and regulating to make sure the sector is well run and that no parts of society (and I am thinking FTB in particular) are disadvantaged by BTL, of course that must be done, and the rogue landlords who feature in the TV programs need to be prosecuted and persistent offenders need to face a prison sentence IMHO.
BUT to tar all landlords with the same brush, to make out that we are fat cats without morals is ridiculous - it is absolutely untrue and the tax proposals will probably not even touch the rogue landlords I mentioned, nor the super rich corporations, it will hit those of us of modest means, who have got up off our bums and provided for our families, who are conscientious and law abiding whose businesses are above board and everything is an open book.
Just one final point. If suddenly overnight there were no properties to rent what would those people who prefer to rent do (many people DO prefer it), those who need to be able to move around for work reasons, those who have no money for a deposit etc etc.
The proposals are a 'sledgehammer to crack a nut' and must be revised. Crucifying ANY group in society for any reason is unfair and unjust and even those unaffected should stand up and say as much - it could be YOU NEXT.