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  • Section 24 HQ

    LLs "being penalised for offering choice"



    With so much anti-landlord rhetoric about at the moment, this phrase really jumped out at me, as it is very powerful:

    "Landlords should not be penalised for offering choice".

    It was a comment made by Paul Sloan of estate agency, Haart.

    “Private landlords are providing a vital service for people looking for housing, yet the job they are doing is massively under-appreciated,” said Paul Sloan, development director for haart. “Renting is regularly portrayed as a wholly negative option that people can’t wait to escape from.”

    Data released by the Department for Work and Pensions (DWP) earlier this year revealed that 20% of households now privately rent their home, compared with just 13% a decade ago.

    The increase in renting affects all age groups apart from the over 65s – in particular, the percentage of 35 to 44-year-olds privately renting has doubled in the past decade from 13% to 26%.

    haart’s research found that many tenants are now actively looking for the benefits renting offers – whether it’s the flexibility of being able to move without having a property to sell or the freedom from worrying about home repairs and maintenance.

    The company is calling on the government to rethink policies which harm the rental sector, including the 3% stamp duty surcharge and tax relief changes which are currently being phased in.

    “It’s clear to us that for many, renting is an active choice rather than something they feel forced into. Landlords shouldn’t be penalised for giving people this choice.”

    Full/source article

    I think this phrase is the key to changing the narrative against Government and media attacks and I shall be using it in all my interactions with Government and the media going forwards.

    Please join myself and other panellists, including Karen Buck MP, at the Landlord Investment Show PRS debate on the 6th November in London to share your views.

    SEE ALSO  -      Get your FREE tickets to Olympia Landlord and Investment Show - 6/11/18

    UP NEXT -          Protesters disrupt the RLA London Conference
                
    DON'T MISS -     Insider insights on "game-changer" PRS report

    NOW WATCH:

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    Completely agree. My forray as a landlord proved stressful and overwhelming to me in ensuring I kept on top of all regulations and kept a property up to standard.  It is not for everyone and certainly not the faint hearted.   

    As someone who has been a tenant the PRS has offered me choice and freedom to move to where I want to be without a major commitment particlary when I was not able to purchase  or not interested to do so.  

    Even though I own my own home renting is still something I can choose if say, I wanted to sell up and try another area before buying again or if I don't want to.lose a sale a break a chain.

    Social housing really  can't and probably shouldn't be expected to address those kinds of needs.

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    Research by Knight Frank found that 21% of renters rent to be able to live in a better area; 8% do not want the responsibility of owning a home; 6% need flexibility for work; 6% are downsizers; and 5% do not want to be stuck in one location.

    Source/full article

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    "Landlords should not be penalised for offering choice".

    It's a powerful phrase but there's a word missing, possibly PRS.

    As a resident landlord I get a good deal, with just a little common sense legislation and taxation. I'm considering short term lets, again the legislation and taxation are attractive. I'm in the process of sourcing a commercial let, legislation and taxation are very reasonable. I've even considered a pub or a B&B.

    As a property investor/landlord I seem to have plenty of choice. Unfortunately, legislation such as the AST, S8/S21, S24 and CGT, are encouraging me to invest away from the mainstream PRS.

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    A good teacher must know the rules; a good pupil, the exceptions.

    Martin H. Fischer