Industry boss warns Labour’s anti-landlord stance will harm tenants

Some tenants may be pushed into homeownership.

For some of these people, it will be a good thing. They’ll go on to build a family and spend many happy years owning their own home.

For others, it will be a disaster. Relationships fail, properties can lose value, repairs can be expensive, jobs can be lost, moving home is expensive (and stressful). In short, life happens and being ‘forced’ i to homeownership wound be good for everyone.

For those that remain tenants, there’ll be fewer properties and higher rents.

For the Treasury, there’ll be fewer privately rented properties to contribute to the total tax take.

Too little criticism from the professionals and much too late to get Labour's finger off the destruct button.

What is needed is a CGT Roll-over Relief for landlords that want to sell to upgrade their portfolios. This would be particularly helpful for landlords faced with the substantial cost of trying to bring Victorian villas up to EPC C grade. The Victorian villas would eventually find their way into the hands of private owner- occupiers who could use their own devices to upgrade them over a period of time without regulation.

This Guy is Stating the obvious , It is good that he is .
Its already hurting Tenants , areas that used to have an ample supply of properties to rent . Now they are very few .
I am averaging between 65 and 90 applicants when I offer a 3 bed family home to let rent.
It can only get worse , I can not see one item in The Renters Reform Bill that would entice anyone to buy a property and rent it. If any one can I would be most Surprised.
If the Government does not want a Private Rental Market they should say so.
They Should also state how many Families The want to make Homeless with this legislation is it 5 million 10 million or all of them.

I think that the problem is that we landlords do not have a strong and effective voice.
We go onto forums such as this and talk amongst ourselves but we should be presenting a unified front to government, to say that we will not tolerate having our property and livelihood taken from us without a fight.
The NRLA is like an angry lamb…nobody takes any notice of the quiet bleating.

The government have U turned on raising VAT to 45% for the Private Equity industry but we will get hammered because we don’t have strong representation. How about a landlord strike - no new lettings for say 6 months.. see how that works for the government and Shelter and Generation Rent. Let’s see who can hold out the longest. Stop being victims!

A few years ago, one of my tenants wanted to buy their home. It was worth around £90k at the time. I’d bought it for £70k and paid £2,100 in SDLT.

I’d have let them buy it if they’d paid me £92,100 plus my legal fees for selling, my legal fees for buying another property to replace it in my portfolio. I’d have paid the SDLT in the replacement property.

Today, I’d let them have it for valuation minus 5%. Around £105k.

I Reply to Cause for concern
I agree we have little or no representation in good old Ben seems to think the RRB is marvellous
Then again he is not Homeless trying to find somewhere to rent Or a Landlord struggling to make ends me
Under RRB only class one tenants with Guarantors will be able to find accommodation.