Labour: Landlords can’t evict tenants if it makes them worse off

Reply to the comment left by Property Flipper at 09/08/2024 - 11:28
If the goverment implement the rules that existed pre 1988 housing act and getting rid of section 21 is the first step (which I think is their ultimate goal) it would be very difficult to turn this situation into a positive!

Reply to the comment left by Property Flipper at 09/08/2024 - 11:28
That's a constructive point, indeed. How can one profit from this declining and dystopian future? That's the thing with a dystopian future, though isn't it? There is no good thing about it, no profits to be made, everybody suffers. Landlords, Tennants, housing companies, everybody!
Just like in the 1970's nobody wins! It's a loose-loose situation. I can't see how anybody can't understand that!
However, trying to be more positive, is a good approach, and selling up and investing in something more profitable and less hassle is only common sense. Of course we have the imminent arrival of CBDC's and more dystopian legislation, more tax, more hidden tax, and more fines, and traps, and fees and licences, and unfairness, and more corruption in the already corrupt system.
Investing in gold coins is a fairly safe bet. As things get worse, gold coins get even better as an investment. Physical gold coins, not the paper certificates that are too risky, and over leveraged.
Paying off your mortgage(s) if possible is important, but I'm thinking of moving abroad now, as the only viable option to protect myself from all this downward financial pressure. Escaping while you can to a fairer society has to be the best option. To go where you are treated best.
I daresay that the pendulum will swing so far and eventually stop, and start swinging in the other direction. How long this will take is anybodies guess, 10 years 20 years maybe more? Who can say?
All I know is things are getting pretty bad, and are going to get a lot worse, before it gets better. As soon as my current tennants leave, I'll be selling up, and cutting my losses. They are great tennants, and I'll bare the onslaught from our govenment as long as I can, but once a Tennant hands in their notice, the property will be up forsale.
Amen! Hasta la vista, baby!

Reply to the comment left by northern landlord at 05/08/2024 - 17:52
I have one BTL remaining. She's been a decent tenant. No arrears even when she was unemployed. But I feel she isn't being upfront in terms of who's living there, and she's being more demanding, most recently for new carpets throughout because they're 'dirty' [I haven't agreed, not my problem]. I have moved her to market rate with 2 large increases over the past 2 years, but I'm not making a profit because an eviction cost me £20k,
and there's no capital appreciation. So why am I doing this when I just want an easy retirement?

I am hesitating issuing a S21 because I will most likely have a void for some time due to the ground rent, even though it's now RTM and it's a nice city centre 2 bed with secure parking. But if I leave it too long, I fear I will be stuck for years to come.

Reply to the comment left by Sheralyne Stamp at 09/08/2024 - 11:38
How about investing in businesses that help large property companies deliver on their ambitions, consultants, construction firms etc.

Buy up commercial units and convert to residential.

Look for apartment hotels.

There are loads of businesses opportunities that spring out of change. Better to be looking out for them than raging against the machine.

Reply to the comment left by Property Flipper at 09/08/2024 - 12:49
Always a strong and enduring demand as migrant accommodation, it would appear?

Reply to the comment left by Frank Jennings at 09/08/2024 - 12:31
It may be too late by then as I reckon this government will make it very difficult to sell . They don't want the responsibility of tenants .

Reply to the comment left by Frank Jennings at 09/08/2024 - 12:31
Everyone should listen to this.
Not to negate this thread, but we must open our eyes to what their long term goal is. No matter what 'political party' is selected to be in power, they all have the same end goal. This should be clear as the main issues that were being pushed by the Tories as are plainly being pushed by the current Labour gang.
Absolutely people should look at bullion (silver as well as gold) as future investment. Buy it, hold it, and keep holding onto it. There is a reason for all the 'cash for gold' adverts and shops we have witnessed over the years.
At the same time, we must be astute in our current approach as threat of legislation often makes people play their cards early. It's important to be discerning and maximise the longevity of our current rental investments without giving in to easily.

I'm starting to belive the attack on landlords is about taking property back from private individuals and putting it back into the hands of the superwealthy, banks and wealthy owned corporations.
Why else would so many rules be made to deliberate force private landlords out of the market.
If you are a private landlord with a mortgage, rental is no longer viable. There are far safer and much less stressful ways to make return.
The only thing I'm surprised about is why so many landlords still haven't sold up while they are still allowed to.

Reply to the comment left by Frank Jennings at 09/08/2024 - 12:31
Id sell it now while you still can, you might not be able to I a years time

Reply to the comment left by PH at 08/08/2024 - 10:09
Longer term there is little risk with shares if you have them in a well constructed portfolio. Stick to a spread of FTSE 350 shares where risk of total loss is rare but can happen e.g. Debenhams. As an addition or an alternative you can also buy investment trusts which are similar to unit trusts having a spread of different shares but they are bought and sold on the stock market. They can never be forced sellers of their holdings unlike unit trusts. I have had a few shares which have lost my money completely but I have many more shares that have more than doubled in value. I would advise anyone to invest only via an ISA. Taxes on dividends are high otherwise. My ISA has increased over the years and I have recently stopped re-investing the dividends. I am currently get tax free dividend payouts of just over £50,000 per annum.