Summer Budget 2015 – Landlords Reactions

Just catching up on the last couple of pages and continue to be surprised by the number of people who are you just coming to the fact the cost of Incorporation by any means is massively expensive. Also I hear people saying that this cannot be overturned. In July last year I posted to say there is only two solutions to this problem

1. Raise rents to collect the tax that is why I called it the Tenant Tax. The rent increases are the only way to pay the tax. Everything else is expensive and or bogus and can and will be undone BY HMRC or the Treasury with new laws.

2. When you increase the rents the public on mass will rise up and that is the only way in which the Tenant Tax will be repealed.

I have paid into the judicial review of course... not because I believe it has a huge chance of success but because I believe we should be publicising Tenant Tax and the press cost less to report on issues than it costs to advertise with them.

As in the case of the pensions, schools the hospitals, tax credits etc... this U-turn government will come to the statement "this shows we are a listening government" only when they are confronted.

You can worry yourself into I'll health BUT you CAN NOT buy your way out of collecting the tenant tax fir the government. Put the rents up and collect the Tenant Tax and let economics do the rest...

That's all very well but Sadiq Khan states:-
He has a comprehensive plan to reduce the cost of renting, improve the condition of rented homes and give more stability to renters. It consists of four crucial points, of which point 4 is as follows:-
4. Sadiq will campaign with Londoners for the power to freeze rents and for new rules to ensure that if necessary repairs are not started by landlords within a reasonable time period, tenants will be able to carry them out and deduct the cost from the rent. A rent freeze over the last four years would have saved the average London renter £5,615 that could have been saved towards a deposit.
If he succeeds in his quest, as mentioned by someone earlier is this discussion thread, it will then no doubt be rolled out/adopted nationwide.

Reply to the comment left by "Laura Delow" at "08/05/2016 - 17:58":

Actually, tenants are already entitled to deduct repair monies from rent where a landlord fails to do an essential repair within a 'reasonable' period of time.

Also, Khan will find that rent caps don't work and never have. There are too many reasons for this for me to explain here. Some economist once said (the name escapes me) that 'the quickest way to destroy a city apart from bombing it is to introduce rent caps'. Khan may well try these things but they rarely work.

Reply to the comment left by "David Price" at "05/05/2016 - 08:07":

I thought that the Master of the Rolls had been abolished?

Reply to the comment left by "money manager" at "11/05/2016 - 09:34":

Oh how d-roll-e.

Seems there is no end to the supply of idiots who manage to get elected and who have the answer for the housing crisis. It's not a crisis...

Build more houses fools - That is the only answer!

I don't know but I am willing to go out on a limb and say this man Kahn is not a student of economics or city planning... ? I'll also bet he has never had a proper job. Maybe he did a little time in the family firm. Still it seem with a chancellor who studied history Kahn is as well qualified in finance and economics as any elected official.

It is clear Kahn is no genius as he actually thinks he won the election. What actually happened is that Goldsmith lost it to Kahn. There is a massive difference between winning and just not being the guy the voters really dislike or want to punish. Proof Kahn is a fool is in his almost immediate wanting to pick a Muslim fight with Trump. Better people have tried and all lost! even so, surely Kahn has some London stuff to sort before he tries to take on Trump's immigration proposals... Prediction - This man Kahn will amount to nothing but will go far.

whilst in his fantasy world of being able to fix housing, maybe Kahn could and should suggest that every house in London that is occupied as an office or a shop or a pub should be converted back to a house and used to house people. That to me, seems like a good idea. After all, us bastard landlords are using houses as .. oh hang on let me see... oh yes ....houses. Why are landlords the only bushiness in London using houses for their intended purpose - darn we are the idiots! Seems to me that a house not being used as a house should be used as a house! If all houses are used as houses = FIXED! But wait... if all of the houses are used as houses then where will the business go who have to move out of the house they have used as an office - elsewhere, other cities and maybe they will take the jobs with them but who cares right, Housing problem solved!

Kahn is a fool if he even thinks rent caps and rent controls will work. I'll move to 3 month contracts and increase the rent between tenancies. I'll change my game to play his game and I'll even just let my house to a business BUT let for free and or lose money I will not do!

Back in your box Kahn ... theres a good boy!

Reply to the comment left by "Markb " at "11/05/2016 - 14:05":

So do you think Zac Goldsmith would have been a better choice?

Reply to the comment left by "Worried by Budget " at "11/05/2016 - 16:47":

I couldn't give a flying rent increase who claims to have Won. The establishment options were a false choice and neither have a first clue about anything ... simply put, both were excellent contenders!

Neither won though, it is just that Goldsmith was the worst of a very incompetent very inappropriate bunch and I know the difference between winning and being awarded 1st place because the rest of the field fell over.

Sadiq Khan did a law degree and worked his way up to partner in a law firm before becoming an MP.

They are all the same when it comes to landords wouldn't trust one of them to do you any favours