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I have not heard of that But as I said the German Model is quite different from ours
Learn Change and Adapt ?????
That just proves how poorly researched the media is regarding many aspects of the PRS in many countries.
I reckon they all believe the private rentals are far superior to the British model when they actually aren't!
I doubt many HB tenants would provide their own bathroom and kitchen no matter how long a tenancy they are offered!
Most of them seem to believe that tenants in Britiain can be legally evicted with no reason given after just 2 months notice.
There is no need for new regulations on the PRS. Indeed they would likely just make things worse, as they add extra costs to good landlords who follow them, but not to the bad ones who don't. What is needed is more enforcement of existing regulations, which more councils rarely enforce currently. 60% of councils did not make a single prosecution in 2016. There has been a change to the law since then In April 2017 councils were given the right tto keep certain fines.
A recent report by a House of Commons committee suggested that councils be encouraged to enforce the law and that the law be simplyfied to make it easier to under stand for tenants, councils and landlords, i.e. fewer but more effective regulations. Of course all the headlines were about the suggestion of allowing councils to confiscate properties. More significant to me is this bit:
The Government announced that it would make it mandatory for every landlord to be part of an Ombudsman scheme, with the intention that it would be easier for tenants to access dispute resolution over complaints relating to repairs and maintenance. It has yet to be determined whether landlords will need to join the redress scheme if they let their property through an agent.
Most local authorities told us they already had the powers they needed to address low standards in the private rented sector. However—as we will explore later—many said they did not have the resources they needed to enforce those powers.
As a small scale amateur landlord I feel the government and HMRC are offering so many opportunities it is a mesmerising choice, which is why I am selling my one inherited residential property and investing in other areas. I will still be a small scale amateur landlord but I won't have any residential tenants. With a combination of commercial tenants, residential licencees and residential guests I will be left well alone by the government. If I invest in a combination of Ltd Co, LLP and SIPP/SSAS the taxman will take very little, if anything. There are many wonderful opportunities for the small landlord, unfortunately traditional BTL is not one of them.
Reintroduce full mortgage interest relief and drop the 3% stamp duty surcharge
PLEASE sign Petition Here
The small landlord will simply move to limited companies and btl will continue unless the government attack small companies as well.
The institutional investors amount to a tiny percentage of the PRS so they will have little to no impact at all.
The current tax changes are fundamentally a short term tax grab that will solve nothing.
Most small landlords have 1 property and no mortgage. Why should they move to a company.
Commercial property is getting hit now and many are getting out for many different reasons. Residential licencees are not worth the paper they are printed on if you are attempting to use them as an alternative to AST . The courts will just throw them out. AS you say there are many opportunities for the small landlord, but it comes with increased responsibility , regulation and hassle. The easy times are over.
How are commercial properties being hit, I'm not aware of any changes?
I wouldn't attempt to let a property that should have an AST by using a licence, there are enough genuine uses for a residential licence for my needs.
Are you using the hybrid structure ie partnership and limited company combined