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Just watched on Sky News .... Labour wish to bring in Indefinite Tenancies
Labour say one in 5 Tenancies are ended by the Landlord or the Agent
I can say I have never ended a Tenancy (unless it was for arrears) in my life.
Learn Change and Adapt ?????
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Agreed - the only times I have ended a tenancy was through rent arrears or I was selling the property.
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**
I have always said we could see an end to AST
My bet is the Tories will steal this topic and bring in some form of rent control in the next parliament
We are going back in time to when I first started as a landlord.
You're right mate, slowly bit by bit, this clueless, shower of s*** Gov't and hopeless, incompetent opposition are assembling crap legislation that will take Landlords back to the 1960's, and that ended well didn't it.
As I see the evidence of govt policy unfolding I relise the strong chance that the days of BTL are numbered
for that very reason I now invest away from this sector
because I just don’t have the faith that my own plans will be fulfilled
there going to end the gravy train of BTL
Probably bit harsh, I can see a point where leveraged BTL is no longer profitable but cant see it disappearing any time soon.
After the day past years I have no faith in any govt supporting the PRS
she me one thing the government has done to encourage the private landlords
I would love an agreement where the tenant have to be in my properties indefinitely and pay rent. Oh wait it is the LL that have to keep the tenant indefinitely and the tenant will only have 1 days notice to leave. Yes that seems fair. NOT
It will be an interesting few years.
i don't see any idea from Corbyn worrying the other parties. It's fanciful.
True rent control is a dream. Landlords will get round it by ending tenancies. Banks won't accept it and if it means the end of BTL or a property crash then it's a recession for the UK. So it won't happen in a meaningful way.
indefinte tenancies. I actually am not against it. Biggest risk to a landlord is voids. Costs are incurred without rent to pay for it. Landlords would have the choice of short AurBnB type lets or indefinite tenancies. There would always be ways to terminate tenancies or banks will run scared and LTV's fall.
But assuming the 1in 5 stars are right, I don't imagine this policy does much for tenants. The 20% who lose out currently can find somewhere else and I presume it was all in the AST anyway so it's not a surprise if the contract ends after non payment, damage, complaints etc. For a flagship policy like this it affects very few - typical champagne socialist policy!
Biggest issue I see is housing benefit tenants paying the rent not the state directly. Adds in an unnecessary risk for no value to either party. But who is going to reverse this and come to their senses.
Chartered Accountant, Tax Advisor and Mortgage broker
(and BTL portfolio owner)
You do have to wonder about the thinking that focuses on the 1 in 5 ended by LL/agents, that 20% is a MASSIVE figure. What is wrong with these people?
It might be wrong to say ... but I actually look forward to the day when landlords sell up on mass and create a massive housing shortage .
Landlords have been the go to place to blame anything ... discrimination against benefit tenants ... when banks get off Scot free not allowing rental to benefit claimants ... you have pond life shelter the anti landlord charity blaming landlords for poverty ... when energy companies increase charges 2 or 3 times a year
The Tories are clueless and Corby seems to have sound bite promises daily ... both total idiots ... why don't they just ditch the right to buy scheme which has sold off thousands of social housing at well below market value .
Quite frankly if they introduce this then my tenants will be issued with notice to leave and I will sell .