Rent controls - good or bad?

[RonJeremy]

That is my understanding. Let's see what the election result is...

 

Let's hope that the result is the right one for anyone who does anything, earns anything, produces anything, employs anyone or is employed, rents to anyone, rents from anyone.

[poppet2]

 

What tax relief do they get?

 

It's all here.

 

http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/10946303/How-to-maximise-your-buy-to-let-profits-by-paying-less-tax.html

[Cyclone]

That's a list of expenses for running a business, there's not a single tax avoidance measure amongst them.

Do you imagine that other businesses don't deduct expenses before calculating profit and thus tax due?

[Guest]

Without BTL many people would be homeless . BTL is vital

 

..................................

Edited April 27, 2015 by Guest

[loraward]

 

 

 

It matters if you want to move house, have £90k of mortgage and a house worth 1k... You're staying right where you. For the rest of your life.

 

In that situation most people would be able to get their hands on another £1K, and that would get them a bigger house in the same area or an house in a nicer area without the need to extend the mortgage.

 

---------- Post added 27-04-2015 at 18:14 ----------

 

 

Many don't want to buy though.

 

 

What makes you think that tenants don't want to be home owners?

 

---------- Post added 27-04-2015 at 18:16 ----------

 

 

 

 

Giving the landlord absolutely no predictable security of income...

 

The 6 month assured period gives the landlord and the tenant confidence, tenants (in my experience) don't want a longer fixed term and are happy to stay on a rolling contract with 1 months notice for them, and 2 from the landlord required to end the contract.

This seems entirely reasonable and workable, there is no reason to mandate 3 year fixed terms.

 

I don't know any that are happy with that situation, how do you build an family home when your landlord can kick you out at a months notice?

 

---------- Post added 27-04-2015 at 18:17 ----------

 

Except you'd be singing a different tune if you needed to move house.

You probably wouldn't be able to re-mortgage either, and finding other forms of credit might be an issue as well.

Why would I want to remortgage?

 

---------- Post added 27-04-2015 at 18:20 ----------

 

Have you any idea how hard and expensive it is to get a bad tenant out ? If you had you wouldn`t be coming out with such trite advice......

You say the tenancy would be ongoing till the tenant wants to leave ? Are you saying the option to leave should only be in one direction, i.e. whether the tenant wants to move out ? Why is that ? How fair is that ? Have you actually thought about any of this ?

 

Yes I am fully aware of how difficult it can be to get rid of a tenant that doesn't want to move.

 

Yes it should only be in one direction unless they breach your terms and condition.

 

Why else would you want them to leave?

[I1L2T3]

Just as an aside, a few landlords on this thread have mentioned how difficult it can be. There has got to be quite a few people sucked into this form of investment who are going to lose out, victims in a way.

 

Heard recently that people who go BTL are also increasingly having to use their own home as security. That is one hell of a bet: the roof over your own head and the roof over your tenant's head if things go wrong:confused:. Is it for everyone? Probably not and it might not be a bad thing if reforms to the sector act as a filter helping make sure only serious landlords enter the sector.

[RonJeremy]

Good tenants don't get evicted for no reason. Why would they? It is a stupid proposal by a very stupid irresponsible populist leader. Grandstanding and proposing to wreck the economy again like they have every time they have ever governed.

[Hippogriff]

...when your landlord can kick you out at a months notice?

 

Under no circumstances can this happen... just so you're fully aware.

[I1L2T3]

Good tenants don't get evicted for no reason. Why would they? It is a stupid proposal by a very stupid irresponsible populist leader. Grandstanding and proposing to wreck the economy again like they have every time they have ever governed.

 

BTL and the parasitic banking sector that actively supports and promotes malinvestment has done and is doing more damage than any party leader could

[poppet2]

Good tenants don't get evicted for no reason. Why would they? It is a stupid proposal by a very stupid irresponsible populist leader. Grandstanding and proposing to wreck the economy again like they have every time they have ever governed.

 

It can and does happen, it's called greed.

Er, have you ever lived in London? Happens regularly, when landlords discover they can get more rent in the local area with agents telling them they have tenants queuing up for rented accomodation.

 

The worse time was time was during the Olympics, when landlords were raking it in from overseas visitors.

 

---------- Post added 27-04-2015 at 21:33 ----------

 

Under no circumstances can this happen... just so you're fully aware.

 

No, but tenants can be out after 2 months notice.

Edited April 27, 2015 by poppet2