Summer Budget 2015 – Landlords Reactions

Reply to the comment left by "Harold Levine" at "19/09/2015 - 07:45":

Why should I be forced to sell my cheap houses in the valleys for the same price I paid for them minus the discount? This would mean that I would be handing my original deposit over to someone as a gift and in some cases even have to find the money to pay for their discount. How is the value statement arrived at that they have more right to the property than I do? (anti-landlord prejudice isn't a 'reason')

Owner-occupiers aren't being asked to do anything like this. Maybe they should be made to sell shares in their houses when they have a lodger. Why is it any different? Where's the level playing field?

And no, I don't see why it is preferable to move houses into owner-occupied status as this is a loss to the rental market and millions of people need this sector.

Maybe once the large companies have built their Orwellian flats in the cities they can try and persuade people to move out of their 2-bed terraces with gardens in the communities they were brought up in to go down and live in these expensive boxes, but the boxes aren't ready yet. Do they live on the streets in the meantime, while the potential first time buyers (who don't even exist in some of these areas) are given preferential treatment over them?

Rather than try and 'steal' houses from the PRS, the Government needs to get on with promoting more building - and they can specify as many rules as they like with regard to that -'all new homes are exclusively for FTBs only and landlords will never be allowed to purchase again' etc. - see how they get on with that.

Reply to the comment left by "Ros ." at "19/09/2015 - 08:40":

My point is, if you campaign against this before it happens you may have more influence on the outcome.
Ie with influence you may not be forced to do it but you may be given a choice, so that tenants can benefit.

Use this groundswell of support to influence the next set of potential. legislation.
First time!e buyers will appear if they can buy without a deposit and have a lower monthly payment.

No one should have the right to buy someone else's personal property, no matter what the price.
Would that be that different matter if the property was owned by a Ltd Co? Is that why we are being persuaded to go that route?

I have met a country's one of most leading property accountant and he seems to think that it is very unlikely that, legislation would be retrospective.

This is not the first time I have been told.

Having said above, this Accountant has suggested that, although we can make best educated guesses we can never give cast iron guarantee what may or may not happen.

He suggestion is that, once finance bill had been finalised and we are clear on forthcoming legislation then, selling portfolio slowly and gradually and moving into commercial properties via ltd company will be an excellent bet.

As commercial property is free of controversy and enjoys abundance of tax benefits. That's despite we do not have roll over relief with our residential properties and that's even after paying CGT will be an excellent idea.

With commercial properties, you do not have headache of running day to day run around and legalities to deal with either..you can buy commercial property with long term tenants in situ.

You can buy commercial from Auctions paying around 10% rental yield.

The only drawback I can think of is that if you did not buy in desired location then you could be faced with higher void period than residential property.

So overall we have some options.

Reply to the comment left by "Lisa Stux" at "19/09/2015 - 08:58":

Let's call it 'right to buy'

It doesn't mean that it is a right to buy.

It may be an option if the landlord agrees to the terms.

Could potentially be a very good thing for landlords

Imagine of the tenant agrees to save for their deposit as part of the rent over several years, lack of voids etc....
There are schemes like this out there at the moment.

If you're a landlord in one of the less affluent areas of the country you could appreciate that it may well be a get out of jail free card.

You have to sell at some point......

Reply to the comment left by "Harold Levine" at "19/09/2015 - 09:20":

That's another one, who seems to be against landlords..who wishes that, landlords should sell properties by giving discount to tenants and seems to be citing that, landlords are feeling imprisoned by life sentence owning a property in less desirable location. (She is suggesting rescue plan)

Sorry dear we ain't charity..whether our properties are in desirable or non desirable location, why should we give away any asset to someone else for something we have worked hard.

Mark, it might be an idea before someone joins this site, to see form of proof that, they are actually landlords.

Reply to the comment left by "Saeef Khan" at "19/09/2015 - 09:56":

If you can see the words you've spoken twisted by knaves to make a trap for fools.

Doesn't apply 100% to you, so please don't take offence but your comments don't really apply to the points I was making.

Reply to the comment left by "Harold Levine" at "19/09/2015 - 09:20":

But what I want is an income to fund my retirement. With house prices way below what they when I bought, i would be giving my pension away to FTBs (and there are enough cheap houses around for them to buy anyway, so why do they need mine?). With no discount, I would consider selling to a tenant when prices get back up to the level they were at when I bought, but not otherwise.

The trouble with commercial is that businesses are still closing down and confidence among small businesses is lower than it was last year, so, although there is some relatively cheap property (but not as cheap as houses), there aren't many tenants.

Reply to the comment left by "Kathy Evans" at "19/09/2015 - 11:01":

Kathy, you are right in saying that, businesses are still closing down but you can find well established tenants already in situ paying around 10% yield.

Of course, this does depend on your size of portfolio you wish to offload.

For £250K commercial you can command around 25K rent with good tenant and history of good lease payments.

Kathy, what part of country do you live?

Reply to the comment left by "Kathy Evans" at "19/09/2015 - 11:01":

Also if property is empty dont you still have those dreaded business rates.

Our council knocked down the old council building so they did not have to pay 400,000 rates on it.