| Renters Rights Act - Consequence 14:29 - Jun 12 with 1926 views | JACKMANANDBOY |
My ender son is approaching 30, rents in Bristol and is changing his property. He's worked for 9 years as a part qualified accountant is paid well and always paid his rent. He has no adverse credit history.
He had been asked for a Guarantor, I'm happy to do it, but spoke to the letting agent to find out why. It's taking about 65 weeks to evict a non payer at present, before the Renters Right Act came in.
Landlords are requesting guarantors in increasing numbers, about 50 percent of new lets now require a guarantor according to the agent. If your history is good you can buy a Guarantee from a Rent Guarantee company for a premium equal to six weeks rent.
A good example of how poor policy squeezes those it aims to protect. My guess is the Housing Minister probably doesn't have a view on Rent Guarantee Companies. The number of Guarantees issued by Rent Guarantee Companies has doubled since the introduction of the Renters Rights Act in May.
[Post edited 12 Jun 14:49]
|  |
| |  |
| Renters Rights Act - Consequence on 14:39 - Jun 12 with 1887 views | AguycalledJack |
The housing minister probably has shares in a rent guarantee company.
Im a small time landlord and in the process of selling off my properties. The consequences of this policy as with most policies will bite in 5- 10 years time.
A headline grabber but an absolute cluster**** of a policy wich will just see the american financial instituitions buy up more and more property. |  | | |
| Renters Rights Act - Consequence on 14:46 - Jun 12 with 1878 views | JACKMANANDBOY |
| Renters Rights Act - Consequence on 14:39 - Jun 12 by AguycalledJack |
The housing minister probably has shares in a rent guarantee company.
Im a small time landlord and in the process of selling off my properties. The consequences of this policy as with most policies will bite in 5- 10 years time.
A headline grabber but an absolute cluster**** of a policy wich will just see the american financial instituitions buy up more and more property. |
Private Equity Businesses are accelerating their investment in the UK rental market. Blackstone has over 17,000 properties! The are buying up single family homes.
https://pe-insights.com/record
All those claiming that private landlords were the devil incarnate for having two properties are strangely quiet about the invasion of private equity into the UK rental market. [Post edited 12 Jun 15:00]
| |
| |
| Renters Rights Act - Consequence on 15:04 - Jun 12 with 1829 views | Dr_Winston |
| Renters Rights Act - Consequence on 14:46 - Jun 12 by JACKMANANDBOY |
Private Equity Businesses are accelerating their investment in the UK rental market. Blackstone has over 17,000 properties! The are buying up single family homes.
https://pe-insights.com/record
All those claiming that private landlords were the devil incarnate for having two properties are strangely quiet about the invasion of private equity into the UK rental market. [Post edited 12 Jun 15:00]
|
Policy is being driven by people with no understanding of economics and how markets work, added to an insane hatred of anyone they consider as having more than they do. |  |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
| |
| Renters Rights Act - Consequence on 15:14 - Jun 12 with 1809 views | Whiterockin |
| Renters Rights Act - Consequence on 15:04 - Jun 12 by Dr_Winston |
Policy is being driven by people with no understanding of economics and how markets work, added to an insane hatred of anyone they consider as having more than they do. |
If the government embraced those who are successful instead of trying to alienate them they themselves would be more successful. Success breeds success. |  | | |
| Renters Rights Act - Consequence on 15:25 - Jun 12 with 1771 views | majorraglan |
| Renters Rights Act - Consequence on 15:04 - Jun 12 by Dr_Winston |
Policy is being driven by people with no understanding of economics and how markets work, added to an insane hatred of anyone they consider as having more than they do. |
A lot of what we’re seeing now kicked off under the last Conservative government when they started to strip away some of the financial benefits of being a landlord.
There’s a lot of rogue landlords out there and tenants need some protections, but it’s gone too far the other way as a lot of the incentives to become landlords have been axed.
I’m an accidental landlord, I’ve got a second property that’s in very good condition and I let it to a doctor who has relocated to the area to work in the NHS. When I was renting years ago the properties were in a much poorer state than most of the ones I see now. What we need is some really tough regulations and laws to sort out the rogue landlords and the same for the problem tenants. Most people whether they are tenants or landlords are decent tidy people, it’s the extremes that need sorting.
The courts system also needs addressing so landlords can evict problematic tenants very quickly and other tenants with a reasonable notice. [Post edited 12 Jun 17:34]
| | | |
| Renters Rights Act - Consequence on 17:02 - Jun 12 with 1709 views | controversial_jack |
Wales has it's own rental system. Rent Smart Wales | | | |
| Renters Rights Act - Consequence on 17:27 - Jun 12 with 1679 views | pencoedjack |
| Renters Rights Act - Consequence on 17:02 - Jun 12 by controversial_jack |
Wales has it's own rental system. Rent Smart Wales |
Aye the Welsh government are brilliant at promoting having a 2nd property to rent.
As others have said the big boys now make loads more than money whilst the average person (often a decent landlord) has been priced out by the 2nd home tax in Wales. |  | | |
| Renters Rights Act - Consequence on 17:30 - Jun 12 with 1676 views | max936 |
| Renters Rights Act - Consequence on 14:46 - Jun 12 by JACKMANANDBOY |
Private Equity Businesses are accelerating their investment in the UK rental market. Blackstone has over 17,000 properties! The are buying up single family homes.
https://pe-insights.com/record
All those claiming that private landlords were the devil incarnate for having two properties are strangely quiet about the invasion of private equity into the UK rental market. [Post edited 12 Jun 15:00]
|
Some renters are selling their properties off to HMO providers and making more money by doing so, how that works I don't know, maybe because the more people they got living in a property the more rental income they get to receive. |  | | |
Login to get fewer ads
| Renters Rights Act - Consequence on 17:36 - Jun 12 with 1647 views | majorraglan |
| Renters Rights Act - Consequence on 17:27 - Jun 12 by pencoedjack |
Aye the Welsh government are brilliant at promoting having a 2nd property to rent.
As others have said the big boys now make loads more than money whilst the average person (often a decent landlord) has been priced out by the 2nd home tax in Wales. |
If you rent the property out, it’s not classified as a second home, the tenants become liable for the council tax. During recent break between tenancies at my place, I wasn’t charged anything. | | | |
| Renters Rights Act - Consequence on 17:45 - Jun 12 with 1629 views | max936 |
| Renters Rights Act - Consequence on 17:36 - Jun 12 by majorraglan |
If you rent the property out, it’s not classified as a second home, the tenants become liable for the council tax. During recent break between tenancies at my place, I wasn’t charged anything. |
My brother and i were liable for council tax on my parents house which was empty after they passed, we did have some grace, but probate took time so we become liable we did keep if furnished to attract buyers that didn't help I suppose, but even after we emptied it they still chased us for payments, until the house changed hands. | | | |
| Renters Rights Act - Consequence on 18:17 - Jun 12 with 1589 views | JACKMANANDBOY |
| Renters Rights Act - Consequence on 15:04 - Jun 12 by Dr_Winston |
Policy is being driven by people with no understanding of economics and how markets work, added to an insane hatred of anyone they consider as having more than they do. |
Whilst failing to collect taxes on a large amounts of UK property.
https://taxpolicy.org.uk/2026/ | |
| |
| Renters Rights Act - Consequence on 18:20 - Jun 12 with 1588 views | jack_lord |
| Renters Rights Act - Consequence on 17:45 - Jun 12 by max936 |
My brother and i were liable for council tax on my parents house which was empty after they passed, we did have some grace, but probate took time so we become liable we did keep if furnished to attract buyers that didn't help I suppose, but even after we emptied it they still chased us for payments, until the house changed hands. |
When my mum died we didn't have to pay council tax until probate was sorted but they were like vultures (Powys CC) when it was.
Same as others, as my properties become vacant I am selling. I was offered a good price for one with a tenant in - wish I had because the twit ruined my house |  |
| |
| Renters Rights Act - Consequence on 19:11 - Jun 12 with 1554 views | JACKMANANDBOY |
| Renters Rights Act - Consequence on 18:20 - Jun 12 by jack_lord |
When my mum died we didn't have to pay council tax until probate was sorted but they were like vultures (Powys CC) when it was.
Same as others, as my properties become vacant I am selling. I was offered a good price for one with a tenant in - wish I had because the twit ruined my house |
I read a case of a tenant who wrecked a rental house, the landlord got wind that it wasn't the first time so he took him to the County Court, just to ensure that the next landlord got due notice rather than recover any money. | |
| |
| Renters Rights Act - Consequence on 22:27 - Jun 12 with 1493 views | ReslovenSwan1 |
| Renters Rights Act - Consequence on 19:11 - Jun 12 by JACKMANANDBOY |
I read a case of a tenant who wrecked a rental house, the landlord got wind that it wasn't the first time so he took him to the County Court, just to ensure that the next landlord got due notice rather than recover any money. |
I did this. My tenants stated playing up on the rent and left fleas in my carpets. I gladly paid a lawyer for a CCS on them for some form a revenge knowing I would never get the rent money back. I think it was £175 back in the day. |  |
| |
| Renters Rights Act - Consequence on 22:38 - Jun 12 with 1482 views | ReslovenSwan1 |
| Renters Rights Act - Consequence on 14:46 - Jun 12 by JACKMANANDBOY |
Private Equity Businesses are accelerating their investment in the UK rental market. Blackstone has over 17,000 properties! The are buying up single family homes.
https://pe-insights.com/record
All those claiming that private landlords were the devil incarnate for having two properties are strangely quiet about the invasion of private equity into the UK rental market. [Post edited 12 Jun 15:00]
|
Property ownership is a particularity British thing. As a welfare state we see pensioners often old women claiming poverty and taking winter fuel allowances and other benefits while living in a four bedroom house worth £400k.
House speculation for a single house is tax free for the owner. Most home owners are sitting on big profits which pay no tax.
The country cannot raise money to cover debts but taxing property gains would be toxic for the Government. The time for a mansion tax was in 2010 after the disgraceful bankers converted their un-affordable bonuses into the London property bubble and got bailed out by the taxpayer in terms of the national debt. There is no free market economy for bankers and London property. We Welsh are labelled freeloaders on subsidy by some.
So is US Private equity buying up houses bad?. It has been a rock solid investment over the decade as UK banks depend on it. If the properties are owned by Private equity they carry no loan the banks lose out in retail banking. Free banking might end. If they squeeze available houses availble for purchase they can push prices up.
On the other hand UK needs more liquidity and business creation and tax. 17,000 homes were dead money in the short team and have freed up (at £300k a home) £5.1 billion pounds into the economy. The current value of UK property exceeds the national debt by some distance I would guess. Selling and buying property is a nice money earner with the 1.5% stamp duty. etc. | |
| |
| Renters Rights Act - Consequence on 22:51 - Jun 12 with 1472 views | max936 |
| Renters Rights Act - Consequence on 18:20 - Jun 12 by jack_lord |
When my mum died we didn't have to pay council tax until probate was sorted but they were like vultures (Powys CC) when it was.
Same as others, as my properties become vacant I am selling. I was offered a good price for one with a tenant in - wish I had because the twit ruined my house |
My Brother was doing the Probate work, proper headache stuff fairplay to him and he dealt with the council emails upon emails back and forth, would have fried my head, I'm on the practical side of the family like Dad, my brother is the brains of the operation like my Mother god bless her, Dad should still be here, but didn't take is heart condition seriously enough, although after Mam passed he did become more withdrawn so to speak, hope they are back together now and Mam is back giving him pelters  | | | |
| |
By continuing to use the site, you agree to our use of cookies and to abide by our Terms and Conditions.