Tenants – It’s getting worse unless you see both sides and write your MP

Reply to the comment left by neilt at 24/10/2021 - 06:55
Only fair if they are going to tax the capital value of everyone's assets: paintings, gold, jewellery, fancy cars, stocks and shares. I can't sell any of mine as they are all in negative equity so they are, as capital assets, worthless, so why should I pay tax on their value (what value?) as well as on rental income? I paid tax on all the money I saved to buy them, so why should I be taxed twice on the same "assets"

Reply to the comment left by Kathy Evans at 24/10/2021 - 12:36Because you are a snivelling, parasitic, despised landlord! Does the government really need to have an excuse to tax us?

Reply to the comment left by Accommodation Provider at 24/10/2021 - 11:58
Or the same as Labour were back in the days of rent control and security of tenure.
And remember, history has a way of repeating itself.

Reply to the comment left by Paul Essex at 24/10/2021 - 09:30It would take about £9,000 annually out of our modest profit on six properties, four of which are unencumbered, so I suspect it would be enough to make some landlords throw in the towel, coming on top of all the other recent legislation. Last year's EICR legislation for instance cost us well over £5,000 for inspections and updates to perfectly safe electrical installations. Many landlords are suffering loss of rent with appalling court delays and of course we can all look forward to much more difficulty getting rid of problem tenants in the near future.

Reply to the comment left by neilt at 24/10/2021 - 06:55
£90,000 in one hit would be a lot to some. Especially when they don't want the houses.
I've spoke to many Landlords who are only keeping the house for current tenant & as soon as they are gone, they selling it. So imagine being asked to shell out £90,000 for stuff u don't want.
Coupled with £2.1 million pound for heat pumps & associated works on houses u don't want.
Tripled with EPC to C £700,000 external wall insulation on houses u don't want.
Quadrupled with the 178 other extra's we've had been forced upon us the last 20+ years just to let the voter shout Whey Hey yes Bash the Landlord. Bash the Landlord, u trample on the tenant.
Ooh five times (what's the word for fifth?) in addition to the £150,000 it cost me when Selective Licensing came in 3.5 years ago. I am exaggerating, but this would have been cost if Licensing had got their way.

I don't think it matters if it's £50 or £35 on the ICO Data registrar we have to sign every year, it's one thing after another, many things that do nothing to make the house better for the tenant, in fact often make the house worse for the tenant as it takes budget away from things we should be spending on like top spec boilers, composite doors, good quality kitchens & bathrooms etc.

Reply to the comment left by Frank Jennings at 24/10/2021 - 09:06
U Frank are saying & doing what us long termers are trying to tell the Govt that their actions are doing. When old tenant goes, new one is going with an agent & paying a lot more cause we don't know 'em, have no bond or loyalty to 'em & we got to get as much money as we can coming in as we never know when the next blood sucking attack will come from.
Higher rents, limited supply.

Reply to the comment left by Paul Essex at 24/10/2021 - 09:30
Exactly Paul, 1% is different to everyone else.

Reply to the comment left by David Price at 24/10/2021 - 10:16
Yes David, some Landlords did exactly that in Nottingham, + £15pm for Nottingham Council Selective License Tenant tax.

Reply to the comment left by Mick Roberts at 24/10/2021 - 18:07
That has been my experience. I'm 23 years in this business and the last tennants left me with a £5k bill to pay. Fortunately that got reduced dramatically by some good luck and the new tennants wanting to decorate the property themselves, so missed a bullet there for sure despite having full insurance for tenant damages.
Seems to me the govenment will not stop in ever more tax raids.. Why should they?
Next will be unrealized CGT. Then a wealth Tax, then they will raid the equity on all private and commercial property and houses and tax that! Then we will all be renters when they privatise our land and property. Hopefully somebody or something will stop them before it gets that far, but who what and when is the question?
For me, I might just have to emigrate to a more friendly country, and I'm happy to go.
So long term the future is not good for anybody in the UK. The Bill's the govenment have run up have to be paid by as many ways as possible, as soon as possible, least the bond and pension markets collapse.
We are in the red by £T's and so is the USA and the EU. Printing lots more cash (QE) on it's own will not be enough.
They want it all and they will get it, eventually. Ever played Monopoly? The winner takes all!

One has to ask; why do the media never actually research the PRS sector properly and print factual articles or TV news coverage on just how relentless government anti landlord policy is causing now severe housing rental shortages and vastly higher rents for tenants? There's a massive news story here, yet they continue supporting the anti landlord narrative. This either demonstrates just how in-balanced news reporting is, or their government censored to spin what their told, just as they are in reporting covid related items. Which is it?
Will also be very interesting to see in Wed's budget, if Sunak is going to support all businesses as stated over the weekend, or once again the letting business is excluded and again targeted with more unsustainable costs resulting in further higher rents and loss of housing as landlords further exit the business!