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Iain Duncan Smith has written an article about the housing crisis in "Conservative Home" magazine.It was gratifying to see that he has acknowledged the role private landlords play in housing the nation and how they should be encouraged to invest, not "punished".Full/source article I also like how he recognised that private landlords are not all wealthy, driving flashy cars - despite the image of LL's portrayed in the media!This is another important milestone in the Tenant Tax campaign - to have a heavy hitter and Tory influencer like IDS writing in support of landlords and against S24!SEE ALSO - Ian Duncan Smith speaks out against Section 24 UP NEXT - Ian Duncan Smith at London ShowDON'T MISS - "Axe the Tenant Tax Awareness Week" summaryNOW WATCH:
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Whilst IDS intervention is to be welcomed the Govt faces an electoral problem.
Those millennials and GR who would prefer to be homeowners having bought into the Guardian propaganda that LL prevent FTB from buying voted for Labour..
Even my idiot brother who refuses to buy though he could voted Labour and he is a high earner and is also clueless as to the realities of the world.
If the Tories did away with S24 that might cause even more to vote Labour
If you were the PM would you risk losing even more votes to Labour!!?
Just for the sake of about 400000 LL!
Only when the homeless evicted tenants start occurring as LL bail will Govt revisit the situation.
As yet S24 hasn't shown its full effects, but in 3 years time everyone will know about it and then the proverbial will hit the fan!
If our industry had not given the impression that becoming a millionaire over night was easy we may not have S24 and alike
I don't think I have ever see such a big headed business and arrogant too
Flash Seminars in Luxury Hotels advertising the fact that a dream life style in in the grasp of the poor
East End Boys in West End Suites They are still there on Utube spouting the same thing over and over
Politicians and the Public see this and we are all tarnished with the same thing
I think most of us know the facts of being a Landlord or very different
Mr Wilson did us no favours ???
His like has brought us to the point where we are now
We have to learn to stop bragging and just getting on with the Job
Rewards are there for risk as it is with all business
The Conservatives should have been the allies of Landlords but they stabbed us in the back
Lets hope IDS sends the right message to his party and they listen
I will not be holding my breath on this issue
But as Tesco say - every little helps!
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.
Agreed DL. I have stated for many years that the "wealth creation" industry creates anti-landlord sentiment.It makes people who invest in property appear greedy and uncaring, and only chasing the money, not being responsible about providing a compliant service.The current "The Week the Landlords Moved In" series is adding fuel to this fire. 3 of the 6 "millionaire landlords" featured have training or wealth creation in property businesses.These egos do real landlords no favours imho. Sadly, the BBC is now seeking further contributors, due to the success of the first series! Many with training businesses will use it for cheap publicity, much like Glenn Armstrong did when he appeared on "The Secret Millionaire". They can now add "As seen on the BBC" to their marketing to give them a veneer of credibility.I doubt the BBC did any due diligence on any of them, but gave them a massive marketing platform at tax payer's expense!!
I agree all that glitters is not gold
it makes me angry with the profile we have
I totally agree that only those providing training courses gloss over being a landlord as getting rich quick, no money down, BMV, OPM, etc. For years and years, all these course providers are still on the same thing. This dishonest presentation will either fascinate the newbies with unrealistic expectations or cause the jealousy of the public.
It is a stressful job being a landlord. The reason people still choosing it is for the provision when old. Is this not something that government should encourage when having a big issue of aged population.
IDS' comments can not be any more true. All these bashing on the landlord will eventually levied on the tenants either in the form of reduced stock or raised rent due to too much red tape and administration.
Add salt to wound, the eviction process is purely shambles. Anyone in arrears should vacate the premises straight away and it is up to them to prove that they are not in arrears or the justification why in arrears. If successful, they can be reinstated with reasonable cost shouldered by the share of responsibility. PRS is not charity or social housing. It does not receive a penny from public purse. To impose this social obligation on PRS to avoid homelessness regardless the tenants in fault or not can bring the landlords to financial ruin. To protect people with less resources by dragging those with some hard saved ones down is not equitable. It should be accepted people who work hard and save hard should have more than those who don't.
Totally agree with everything you state.
But to many you would be a heartless greedy avaricious LL.
Who do you think you are making hoped for PROFIT out of the poor old downtrodden HB tenants who could be in receipt of up to £23000 not including C Tax assistance usually worth another £1500.
Greedy LL like you should be subsidising your HB tenants lifestyles
You charging them market rents makes it a struggle for them to go on holiday, have fags ; booze, Sky, the latest expensive mobile phone and contract etc,etc.
In short you don't consider your tenants at all
You expect them to just exist and that if they want more out of life to go and get a job!!
How nasty can you be!?
Benefits of £23000 would be equivalent to a gross wage of about £28000!!!!!!!!!!!!!!!!!!
I doubt many who pay rent earn that gross and then of course they have all the expense of getting to work and paying their own C Tax.
So I think we can dispense with the idea that those on benefits are poor.
In actual fact they are in the upper 25% of income earners in the UK.
Perhaps those that are currently limited to £23000 could source a 16 hrs pw job which means they would be exempt from the OBC
Certain East Europeans have sussed this and that is why a certain migrant now comprises 90% of Big Issue sellers.
Well at least IBS seems to be supporting the private LL. Unfortunately the majority of his fellow cronies and those in other parties seem oblivious!
By nobbling one group (the LL) they get to nobble another group inadvertently (the tenant) FOC! Win-win perhaps?