By reducing the tax on properties landlords can reduce rents?
Following the recent sky news and shelter report regarding section 21 and many tenants being asked to leave, surely now is the time to review the section 24 tax increase, perhaps owing to some landlords having to increase rents to cover the additional tax cost?
By reducing the tax on properties landlords can reduce rents?
Many of you mentioned this was on the cards as many landlords expected to sell or raise rents, can anyone lobby the chancellor?
Paul
Editor’s Note: Please see article >> What is Section 24 and Why Was Permission For A Judicial Review Declined?
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Possession hearing - Has by chance the council rep got it wrong?
Member Since June 2014 - Comments: 1563
10:55 AM, 27th April 2022, About 4 years ago
“can anyone lobby the chancellor?”
He’s long gone;
https://www.thesun.co.uk/news/1440958/george-osborne-brutally-fired-and-shoved-out-the-back-door-by-new-pm-theresa-may/
George Osborne is brutally fired and shoved out the back door by new PM
Former Chancellor left humiliated as new Prime Minister kicks him out of Government
Member Since July 2013 - Comments: 1998 - Articles: 21
2:50 PM, 27th April 2022, About 4 years ago
Can’t see HMG reducing tax at the moment and certainly not for landlords. I also suspect many landlords would not reduce rents anyway. The tax is unfair but while interest rates remain low its effect is not as damaging as it would be with higher rates.
Member Since April 2017 - Comments: 139
7:05 PM, 27th April 2022, About 4 years ago
Well it’s added 20% to rents, so government should hold its hand up to rising Rents
Member Since January 2015 - Comments: 1442 - Articles: 1
9:50 AM, 28th April 2022, About 4 years ago
It’s not just Property/landlord taxes it’s also the landlord bashing legislation that has been the final straw for many of us as well as it being acceptable for tenants to be verbally abusive – my last tenant told me “to be very careful as what comes out of her mouth can be very toxic”.
Buy, do up and sell will bring me a similar £amount without the stress of tenants. 2028 will see many rental properties come on the market as EPC unrentable.
I have always rented to those on benefits as believed people should have homes but not prepared any longer to take the abuse of tenants, including nonpayment of rent, and landlord bashing legislation of those of us who have rented out safe and nicely presented homes.
Member Since September 2018 - Comments: 3515 - Articles: 5
2:18 PM, 28th April 2022, About 4 years ago
nice idea but I wouldn’t be reducing any rents. I provide a service up to the standards requires and I have worked out what this means, so I will charge accordingly – it costs X. Take it or leave it.
Costs are increasing regardless under the banner of ‘improving standards’. While we all know that is a crock of proverbial with all the LL bashing ‘initiatives’ that this brings with it so it means I can justify my rent under the same heading as I do and will comply with everything that gets thrown at me.
If I didn’t then yes I ‘could’ cut costs….but we all know the only people to be able to offer lower rents are the ones that wouldn’t be meeting the ‘standards’ in the first place…