Pennycook: ‘We don’t want an exodus of landlords’

Reply to the comment left by Desert Rat at 25/10/2024 - 00:39
One of them is their very own Jas Athwal MP, the largest landlord MP in Parliament. Apologised and blamed his agent for not registering his properties. I wonder if a normal landlord would be allowed to get away with that.

It has all gone very quiet about Jas Athwal.
What is really galling is the way some Labour MPs tried to pass this off as a minor issue.

I think the Government should outflux.

🤣🤣🤑🤑
The guys got his head up his - where has he been?

You couldn't make this up! First this the Fear Karma spouting about LLs being bloodsuckers

Shocking

No evidence?
After fifteen years of letting a property and five months of significant and expensive repairs to the place, I'm out and joining the exodus!
Happily, without actually going on the open market, the property will be taken by a small family looking to care for it.

The cook has missed the penny drop, God help all of us staying in this game.

Pennycook sums up correctly as with the rest of the Labour members!
They have far left/socialist ideas rammed up them so far that it blinds them? No idea the negative results that will come out of it. Labour is trying to take away any British person, especially "working class" to better themselves by working hard etc. These people are on another planet with moon dust in their eyes!! Hand shakers come to mind??

Tenants, an MP yet again has made more of u homeless and increased your rents.

Do u realise Pennycook The Labour Party Every time u hint at taxing Landlords which u surmise BBC viewers will like, where does the tenant go when the Landlord sells? Go ask the 60% of tenants that's paying below Market rent what is going to happen to their rent?

Landlords r going bust right now cause of Section 24 Tax. You say Section 21's are the cause of homeless. Do u realise how many you've got issued next week now? U NEVER ask why the Section 21 is issued.

Where will the increased tax you receive come from? Yes you've guessed it, increased rent or if the numbers don't add up, Landlord sells. Your temporary accommodation bill is humongous and increasing.

You ought to join forces with Nottingham City Council & make Selective Licensing widespread & triple the price, see how many more people u can make homeless.

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Don't be too hard on Mr Pennycook. Like most politicians, he doesn't know much about the job he's been handed, and when he passes on the torch in a few months time, he will still know less about housing than any experienced landlord. He'll blunder about for a while, blinded by dogma and prejudice, and then be hurled onto the scrapheap of history when the housing crisis explodes.

Reply to the comment left by Tom McGrath at 28/10/2024 - 12:50It's highly likely that they DO know roughly what will be the consequences of their actions, but they can't get off the "PRS Landlords are bad and out of control and we have to show them who is boss" train, or they will commit political suicide. And the BTR lobby that influences them will also threaten to send them packing.
Remember, when BTR companies build a house, they don't pay stamp duty on the property as they didn't buy it, and they don't pay section 24 either, so their tenants' income doesn't get taxed twice before paying a mortgage, unlike PRS tenants, nor does their first 2-3 years' profit get wiped out by the malicious SDLT surcharge.
And they won't be selling and paying tax on inflationary gains, just for good measure!