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In the past few days I have seen such a lot of Info about the route our Govt wants to take us
I think we are seeing some major hints on the prospects of BTL in the coming years
Today we see Labour wanting to cap prices
I know one thing I don't know how this will pan out but I am glad I have made other plans in the past 4 years for my retirement
A number of us now invest via a Company Strategy and the major asset we have being a director is you can use pensions
I have been investing heavily in Pensions since Dear George introduced S24 and I know I am doing the right thing
The way the Govt is driving our sector we could all start looking at the possibility that BTL will not give you the result you were looking for when you started this game of Monopoly
As landlords it feels as if not one week goes past when there is another hurdle
I am glad I have made other provision away from BTL If I am wrong and things change for the better I will still have a pension
If I am right I may well be glad I did have a pension to top up what I could possibly lose in the Monopoly Game
I would urge anyone who can use pensions to use them if you own a company
I stand in misbelief at the things that are going on in our sector
So build your life boat - have an alternative
Better to be safe than sorry
The Govt is going for our blood !
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
Couldn't agree more. If I rented a hotel room for a week and then decided to overstay, not pay and fill it with trash I think the law would come down on me like a ton of bricks. So I own a property, rent it out for a jointly agreed period of time but the other party does not have to abide by that. Logically that means the agreement is effectively a one way agreement. BTL motor homes maybe the way to go! Repossession of a vehicle I suspect is straightforward in comparison.
For retirees maxing out your ISAs is essential. The total amount you may invest in an ISA for yourself is £20,000. This is the same as the last tax year.If you have two or more different ISAs, your total contribution must not exceed £20,000. However, ISAs don’t all have the same allowance. Help to Buy, Lifetime and Junior ISAs have lower limits.
The writing has been on the wall for sometime now. What we are seeing is the beginning of actual action and new legislation being put together. This trend is likely to continue for a very long time. Its the beginning of the end for BTL as we know it.
I could not agree more it will keep changing until it is regulated just like buses and Taxis
this is just the start of the changes
As I move towards my dotage I plan to sell up over four or five years and bung about half a million into an L&G or Vanguard all shares unit trust. In tracking the FTSE All Share index, the L&G UK Index fund offers exposure to 98 per cent of the UK's market capitalisation and has 636 constituents. The largest sector is financials, which account for 26.34 per cent of the index, followed by oil & gas (14.04 per cent) and consumer goods (13.91 per cent).
L&G UK Index has returned 180.44 per cent over the past 10 years, has a tracking error of 0.65 per cent and an ongoing charges figure (OCF) of 0.10 per cent. So the £500k grows into £902k without a tenant in sight, Taking the income gets you around £40k per year before tax.
If I was sitting on big capital gains I would. Sell up and do similar
I can see your strategy and I understand it.
I fan garantee you will have a less stressful life
Indeed. I have had a blockage day today. A blocked bathroom sink, a blocked kitchen drain, and a blocked toilet that won't flush. That was all before 9:30 a.m.
Living the dream!
Yes residential let's are never going to be a truly passive income, especially the more you have. I have been considering options for future investments that have decent returns with very little hassle.
Oh yes have you ever noticed 95% of repairs are always water related
Yep, mine get regular reminders as what toilets were designed for, any that are pregnant have new born or teenage girls get extra reminders. I ask to be the one that connects washing machine hoses and ask them all to report drips and leaks asap.
but as ever with some its a waste of breath.
Yes, they are, - and constant and often due to tenant stupidity!
ie in the LAST MONTH ALONE
house 1 - blocked kitchen gulley drain AGAIN due to food and fat poured down - a lovely mess that stained the Indian sandstone patio. I was told that this time it couldn't be just the kitchen drain. it was definitely a sewer problem as the bath was slow to drain too, oh and the utility room drain is blocked. Well after I scooped the bucket full of rice and fat gunge out of the kitchen drain (that smell never leaves anything it touches) I removed the small handful of leaves from the utility room drain and then stripped down the bath and took a hair ball out of the bath u-bend waste that visually resembled a drowned rat. What a pleasant Saturday that was. Everybody happy (not me, I am never happy anymore!)
house 2 - ruined shower room floor and ceiling below due to toilet which came loose due to ???? (how do you sheer bolts), and they only tthought to tell me after a week that each time they flushed about a pint of water spilt on the floor. They are a family with 2 toilets in the house so that begs a question....don't they care?
house 3 - there today to swap out the "not working" dishwasher - turned out to just be blocked. Oh by the way can I look at the heating because one of the radiators clicks noisily.
house 4 - literally just been informed that damp has appeared in the bay
This is a fairly typical month I suppose.
Then I am currently refurbishing and remodelling a vacant house which apparently had a terrible condensation problem and awful damp issues. The outgoing tenant informed me that the porch leaked all the time and that all the ceilings had gone black etc despite her doing everything she should. Well, I have been working on the house for nearly 6 months (over winter) and have not seen one drop of water in the porch I wonder if the porch problem was anything to do with the dryer she had in the porch, with the vent pipe exiting into....the porch? It's odd too how I have had workers staying in the house and there has not even been the slightest hint of condensation????