Shock poll finds 44% of landlords will sell up

Get your popcorn and a nice Rioja and watch in slow motion, the death of the PRS sector.

Stay healthy and release your assets, you have provided a great service housing hundreds if not thousands over the years.

It's the tenants I feel sorry for ,due to the SNP AND GREENS not having a clue how a free market system actually suppresses costs rising.
The only thing the eviction freeze and rent freeze has achieved is to panic good landlords into selling , although I believe the rough element will stick it out as they don't pay ,tax, licence fees and other expenses....
Well done Sturgeon and Yusaf and of course that wee rat .
Hopefully the Nationalist loose the court review on the unfair treatment on the PRS and both the eviction ban and rent freeze will be Scrapped straight away.

I wonder where the landlords who sell will go for better returns?

Reply to the comment left by JB at 27/04/2023 - 14:42
Great question perhaps others could chip in.

A senior at P118 suggested to me to sell a few and pay off outstanding loans and still get an income.

Other possible routes are; funds, dividend paying stocks, pensions or even property stocks as an example.

Many landlords fall into the following categories;

1. Only BTLs - cash poor, asset rich
2. Have a job and BTLs... income coming in from Job, BTL is future pension.
3. Only BTLs and other assets such as ISAs & Pensions

Its a personal choice but a difficult decision for many on how to invest if they sell up.

Be careful of the stock market, even dividend funds stopped paying during the pandemic.

I was always prepared for interest rates to increase significantly all part of the business plan when I entered the BTL game in 1995. My last property was purchased in 2014 a fully furnished flat. Since then I’ve lost the wear and tear allowance but worst of all is Clause 24. I could never have envisaged not being able to offset my mortgage interest. Sadly the Government want to drive small landlords out and they’re succeeding so Clause 24 has been a resounding success. I have 7 properties one will be vacant this weekend and agent coming down next week to place on market. Another tenant just given me notice to leave in July and that will be up for sale as well. Clause 24 is the cause….. although Section 21 disappearing doesn’t make me smile either. Will keep the first three houses I bought in 1995 as the CGT will be horrendous. So 4 properties will be lost to the PRS as soon as tenants leave. (Just can’t face kicking good tenants out).
At least we will have a new Government to look forward to next year….. and rent freezes, eviction bans, Right To Buy and CGT aligned with income tax.

Reply to the comment left by JB at 27/04/2023 - 14:42
RCI bank great returns and no hassle! For the moment at least.

Reply to the comment left by Dylan Morris at 27/04/2023 - 15:31
Dylan before you decide you really ought to have a bespoke consultation with Property118. You might find that you don't have to pay any Capital Gains Tax - I didn't and I paid £60k for some of mine that would be £200K now. I now find myself in a position where I went from being a higher rate tax payer to paying almost nothing because I can withdraw the equity I previously invested tax free.

Reply to the comment left by JB at 27/04/2023 - 14:42Some landlords are making no returns after scootish income tax , interest payments , licensing fees, the list is endless .
Remember a lot of landlords are over ,at,or near retirement age , there's comes a point where its not worth the hassle and ive reached that point with this rent frezze and eviction ban, the news there's probably another 2 interest rates rises to go and the SNP planning to further put up Scootish tax rate to 46% .... so it can bribe the generational non working benafits specialist to keep them in power .... why should I works to keep these layabouts in Jordan airs and 85"screen tvs.
I'll sell up one at a time bring CG down ,then sell the lot and enjoy any money I have after capital gains ....

No need to worry about non existence returns.

This case you have to feel sorry for both landlords and tenants.

The goverment are totally to blame. If I had to highlight how stupid they are the word stupid would be written continuously, never ending.

Not letting landlords claim interest as an expense !!!!! That is trades discrimination. Everybody else can. I want to confront House of Lords on this. I feel like just barging in, with a live film crew.. Best bit they tax the interest, as if its earnings.

Oh thats land lords biggest expense. Oh let put interest rates up so landlords are forced to put rents up.

Why are interest rates going up; to tackle inflation. Inflation is goverments fault again. Why ? Because they let companies like shell make an extra 30 billion for quarter year.

Der goverment !!! as that 30 billion is extra on inflation figures.no to mention all the other electric companies profits.

The goverment are forcing people to spend more, by having to spend more on electric. This is wrong , and goverment should be prosecuted !!!!

The electric payouts ! Wake up everybody its not a payout, its an investment. With rocketed electric bills they soon claw back with all rhe massive tax increases they will get from higher electric.

Best bit these french electric companies never paid tax for years. Goverment saying no french company no need to pay tax, as our tax payers will cover it. Even now its only small amount.

This new wirlds longest cable for electric; prices want go down, they will go up.

I feel for the tenant too ! Less house due to this stupid epc rating c; oh install storage heaters the tenants can't afford to run. On paper house better, but thick governent tenants cant afford to run them, so houses worse.

Please people support me, and we must now take on the goverment, before its too late.

Contact me shauncornwall@aol.com
We need to help each other

Reply to the comment left by JB at 27/04/2023 - 14:42
A bank?