Government look to throw landlords under the bus with 3 year tenancies

Part student/part not?

Reply to the comment left by Luke P at 02/07/2018 - 10:47
Just do not rent to such a group. Tell them the government regulations make such a let unworkable.
The more people will be rejected the quicker these idiots in the government realises that war on LLs is not working. I know, wishful thinking...

I hope that, if this is implemented, they don't also want existing tenancy agreements to be renewed to comply with the 3 year rule. The future of the PRS is starting to look a little bleak. Renting out my two properties is part of my pension set-up, selling up and cautiously investing the proceeds will not give the same returns.

None payment of rent = homelessnes and they know it. All, right to those MPs involved and they'll soon get fed up!

There is no way BTL lenders would allow it at the moment.

Cant say I like the sound of this. However when people think about labour just remember they are very likely to need to do a coaltion deal with the SNP. And thanks to the english votes for english laws as is the course with opposition the tories will vote down the rent controls as they will have majority in england (let alone the labour mps that are landlords /london ones at that!). So there are limits. Plus this was couched about famalies so I reckon HMO's/Flats will be exempt.

Plus as with the NHS pledge is termed as by 2023 and of may. If I didnt know better this is positioning themselves for another election before 2022. And then they can whiggle out of the things saying that was a different leader etc.

I am getting closer and closer to my tipping point where the hassle factor of continuing letting is too great. I will run my partnership for 2 more years (I've completed the first year), incorporate and then most likely sell up while my CGT is nil.

Does anyone have any ideas on what to invest in then?

What about this scenario? There is two years to run until expiry of mortgage and if owner cannot re mortgage due to age or not wishing to, property needs to be sold to repay the loan. With said two years to go existing tenant quits leaving a two year tenancy to cover last two years no longer allowable. So owner will presumably have to sell early or suffer a two year rental void. Either way another rental property is removed from the scene.

So much for good old Tory values of mobility of capital and labour.
On yer bike? No point if you can't rent a home when you get there.
Have these faux Tories learnt nothing from history?

I think your headline should be Government looks to throw TENANTS under the bus, because it is always the most vulnerable tenants who suffer when anti landlord strategies are introduced. My tenants have been with me for 5 or 6 years and none have any desire to move. One tenant quite regularly misses paying the rent and doesn't take care of the house very well, but I have been flexible to enable them to stay because they have children in a local school. Just one more whammy from government and I am going to have to sell earlier than I intended. Councils have no houses available, so tenants who are evicted, by decent landlords who can't financially continue, will end up in council homeless accommodation. How does that help children??
But hey, the government is probably eagerly awaiting all that 28% capital gains tax they will get when thousands of landlords sell up.
If government and councils REALLY cared about tenants, they would find, prosecute and ban the criminal landlords. Instead, they introduce more and more legislation, but the criminal landlords operating under the radar continue to make tenants' lives a misery.