More landlord bashing

[kanrent]

A controversial proposal to scrap council tax, stamp duty and the bedroom tax, and replace them with a flat-rate tax paid by landlords rather than tenants, has been proposed by a leading think tank.

The Institute for Public Policy Research (IPPR) believes a proportional property tax would help to use existing housing stock more efficiently, rebalance property values across the country and increase spending among lower-income families – but it will hit landlords hard.

[Melboy]

Should these proposals become law it will lead to much higher rents and probably many landlords selling up. This action of course will lead to longer queues at the Council housing offices for those trying to obtain virtually non existent council housing.

[Richlist]

You have to roll with the punches in this industry.

Residential letting is considered far to profitable for landlords at the expense of poorer people. Why else would the larger organisations like the recently announced Lloyds bank plan to build an enormous property portfolio even be considered it they didn't think they could make a good return ?

The industry has always been subject to changes and they are going to keep coming......just as long as our profits are high, the housing shortages exist and the Gov' can achieve political gain from milking it.

Complaining won't get you anywhere, the secret to a happier life is to roll with the punches by making changes to the way you operate to counter their affects.

.........and almost every piece of adverse legislation introduced to our industry has resulted in the same cry......landlords will sell up, there will be a shortage of property, rents will rise.......BUT in reality, it has little or no affect. The bigger picture shows business virtually as normal. 

Stop complaining......become pro-active!!!

[Carryon Regardless]

I agree with Mel, we would increase rents to compensate our additional expense. The tenants can then afford more, the LL's that don't increase will soon have rented properties full due to being cheap.

While our rent increases are monitored, effectively, we could increase gradually, or of course in one hit for new tenancies.

Where this will be a negative is that HB claimants get council tax relief. We would not. So less properties would be made available to claimants. They really would become a lower class than they already are, as they would ultimately be in lower cost housing (with lower associated whatever tax applicable), and still having to pay higher rent to compensate the LL.

Another socialist agenda that removes the incentive for personal advancement.

As RL there is more of this sh*t to come, and not just for LL's . Squeezing the masses for more dosh is not only for more tax local and central, but for increased corporate profits, that in turn should in theory mean more tax revenue.

[Melboy]

My last word on this subject because after all it is only a Government think tank proposal at the moment and my view is they need to think it through a bit more before actioning their proposal.

The average price of council tax for a 2 bed semi in my location is around £1,500 per year. £125 per month. I would have to add this to the monthly rent or at least a good proportion of it. This is not going to make the tenant very happy but there again they had been paying CT prior to the new legislation coming into effect haven't they.

Personally I hope it doesn't happen.

[kanrent]

1 hour ago, Melboy said:

My last word on this subject because after all it is only a Government think tank proposal at the moment and my view is they need to think it through a bit more before actioning their proposal.

The average price of council tax for a 2 bed semi in my location is around £1,500 per year. £125 per month. I would have to add this to the monthly rent or at least a good proportion of it. This is not going to make the tenant very happy but there again they had been paying CT prior to the new legislation coming into effect haven't they.

Personally I hope it doesn't happen.

You won't be able to raise the rent if the government put a rent cap on it. 

 

[Nev M]

Agreed, common sense says it would just add it to the rent and would be more expensive for tenants if there is an Agent fee added of 10%. I can't see how this benefits anyone to be honest.

That said, how many people increased their rent with the recent tax changes of lose of 10% wear and tear, no claiming interest on mortgage etc. I didn't until the tenant changed in properties. But then it went up 15% on the tenant changes this year. The cost at some point will be passed on.