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  • Buy-to-Let

    Is the Buy to Let market over regulated?

    Last 4 years we have seen a raft of new legislation and tax changes. Data hitherto shows landlords are leaving the letting market. Is the Buy to Let market over regulated?

    British Landlords Association

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    The Residential Landlord Association (RLA) created a dossier of 100 PRS laws and 400 regulations. That was 7 years ago before the array of annual changes we have had since before the prevalence of Selective Licensing.

    You wont find much sympathy in our parliment though. Tenant Groups are telling them we are unregulated and they need greater powers.

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    _________________________________________________________________________


    My posts are not financial advice but often me rambling - passing time on a coffee break.
    Our team at Bespoke Finance offers Limited Company Buy-to-Let and Cheap Life Insurance.

    _________________________________________________________________________

    The thing i never get - and i have been a landlord for a few years - is this ......

    I consider myself a good landlord - i comply with all the requirements - i treat people as i wish to be treated and that generally works quite well. If someone is in a property long term, i don't raise the rent - i would rather keep a good tenant.

    Where was I ? - oh yes

    I consider myself a good, fair landlord .. if new regs come out, i comply with them.

    If i was a bad landlord, i would probably aim to fly under the radar, do things on the quiet, not record any details - and generally ignore the law.

    How is the introduction of more regulations going to impact a landlord who ignores the rules anyway ?

    si

    to recap ... good landlord




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    Most of the changes I've seen seem quite sensible to me.

    I'd argue Landlords were UNDER regulated before and we are currently seeing rectification.

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    There are plenty of regulations but too few regulators

    In that sense we are therefore under regulated

    Little effective enforcement leads to abuse

    If the existing regulations were  better regulated then  that can only be good for the industry



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    Jonathan Clarke. http://www.buytoletmk.com

    Landlord s today don’t know what regulation is

    look at the regulation we had before AST

    and then you will understand what regulation was

    fair rent officer ect

    it’s slack now but it will tighten as the years move on

    and if Labour come to power we could lose the most important document the AST

    thats when the problem starts

    if it goes

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    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.

    Removal of AST would be death knell for PRS and put massive pressure on taxpayers/SRS to provide new SRS units - either via CPO of existing homes and/or new builds at current land/build costs.

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    Death knell will be Corbyn rolling out forced Right to Buy (with discount) on PRS properties.

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    Interestingly - if the SRS RTB process was superimposed on PRS - many tenants would be excluded via 3 yr tenancy needed before being eligible.

    In practice a 1980 RTB in SRS was around a 20 fold/2000 per cent Capital Gain for LAs eg in Home Counties - on which they paid nil tax.

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    Interesting fact, wasn't aware of that.

    The problem though is the Comrade can change legislation if he gets a majority, Momentum/Labour gaining power is the real threat to Landlords (and the country in general) at the moment, Brexit/S24 are just noise.

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    CH 5 also say that 60% of private tenants have less than £1000 in household savings - and strict MMR lending criteria would render most non eligible for a mortgage.

    Realistically any sensible Govt (yes oxymoron!) would need to put plan B in place before eradicating PRS viability.

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