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Taking a look at two nigh-on identical properties less than 10 miles apart, I was quite surprised to see the difference in council tax bandings (both band B) from one council to another:
Property A - £1405pa
Property B - £1120pa
I've never really considered CT for tenants before, but the above would seriously make me think (if I was a tenant) what more I was getting for that extra c.£300 per year. Do teanants consider these costs do you think?
Do you include CT costs into the mix when looking at new areas?
Is the lower CT in a Tory area?
Poorer benefit tenants do get a big reduction in CT - so the nominal difference is then smaller - though there is no longer a 100% rebate and LAs can choose how much to charge.
No idea whether Tory or not. I don't like to make plans on that basis as they can change quite quickly, and are out of my control.
These properties are pretty small so may be for 1 or 2 people maximum.
Agreed - but Tory cuts have fallen more heavily on Labour Councils and vice versa - hence the query.
Many low paid workers have to share so even a small place may have 2 people - though from your side their finances need to pass muster either as single/joint applicants as applicable
It's an interesting point you make re the cuts, never thought about it before.
The game has changed a lot in the last few years, I'm looking at tenants that I haven't rented to for over 10 years now if I buy another property as I've been priced out of my preferred locale and its vicinity by those pesky (me included!) LL's!
The only way I'd rent to these tenants is with rental guarantee though, as I've seen Shampers too much on the Rogue Tenants, Slum LL programme too much and don't want to be one of them.
Certainly getting tougher for both Tenants and Landlords - and whole job market very tough.
Many pin money jobs in retail/hospitality (pin money in a past era) are now expected to be the main breadwinner job for many households - eg for lone parents forced back to work as soon as youngest kid is 5. Forced back cos they are taken off INC SUPP and placed on JSA
Can't agree with you more. It now is a real consideration when looking at another property who is going to be your tenant!
It's less than £24 a month difference so I can't see it being a big issue especially if they're getting a reduction off that too.
I'd say it will more likely effect how long they stay rather than whether they come - depending if they are aware of all of the costs of a rental. Though the effect may be marginal.
I'd draw an analogy with low energy housing - tenants tend not to pay attention to energy bills or EPC ratings in my experience until they have spent some time with bills 1k a year more than they need to be and *still* had a cold, miserable, house.
I expect that eventually the market will notice these things.
This is one reason why I personally favour higher energy prices ... so that the housing will be improved to keep bills the same.
I imagine there are many older UK properties which would be very expensive to insulate to the necessary degree to get fuel costs really cheap - eg needing triple glazing/interior wall insulation etc.
Maybe those with poorer EPC ratings will have lower rents to compensate - though every household makes different use of a property - workers will be out of house for 12 plus hrs daily whereas jobless/pensioners may want heating for 18 hrs daily.
Apparently there is very little difference U-value (iirc) between triple and double glazing now. The extra cost, weight of the unit etc. for the UK doesn't make triple worthwhile. I remember seeing that D/G fitted in say 2000 is much worse than new D/G.