Heated debate in Commons over scrapping EPC targets for landlords
2 years ago | 21 comments
Armageddon out of the PRS!
12:05 AM, 19th October 2023, 2 years ago
12
Hello, Landlords are beset with so many problems now that the question must be asked – is it worth it? Consider the looming Renters (Reform) Bill, which effectively removes control of a property from the landlord and presents it to the sitting tenant.
The huge rise in costs – repairs, insurance and licensing – has made making a profit more difficult, not to mention the loss of tax relief on mortgage payments, and the demonisation of landlords by Shelter, Generation Rent and councils.
Many landlords have voted with their feet – will you?
Me?
Armageddon out.
Tom
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Member Since January 2017 - Comments: 65
11:38 AM, 19th October 2023, About 2 years ago
Me too.
Member Since January 2015 - Comments: 1435 - Articles: 1
2:11 PM, 19th October 2023, About 2 years ago
I have and am down to a single property that my daughter and a flatmate are living in.
Best thing I ever did was making the decision to commence getting out of the PRS
Member Since March 2015 - Comments: 1969 - Articles: 1
4:26 PM, 19th October 2023, About 2 years ago
Reply to the comment left by Morag at 19/10/2023 – 11:38
Me three!
Comments: 13
5:43 PM, 19th October 2023, About 2 years ago
Member Since July 2013 - Comments: 754
12:41 PM, 20th October 2023, About 2 years ago
And me, 5.
Lets keep a tally with each reply to gather some numbers of LLs sufficiently concerned by the RRB to sell up.
If Govt and anyone else doubts the impact of the RRB on LLs and the PRS, we have a measure (albeit crude) from this 118 community.
Whether or not they will listen is another matter.
Member Since September 2018 - Comments: 3508 - Articles: 5
2:14 PM, 20th October 2023, About 2 years ago
4 buildings sold so far (two blocks of flats total 4 residential tenants, i block of 3 flats plus a 5 bed house). 1 more family house on the horizon… then will sell others as existing tenants move out or just before the last date when the RRB changes kick in for existing tenancies.
Member Since December 2017 - Comments: 23
8:44 AM, 21st October 2023, About 2 years ago
I’ve been buying a property every other year for the last 12 years , I won’t sell but I will stop buying and pay down debt
Member Since March 2015 - Comments: 1969 - Articles: 1
9:41 AM, 21st October 2023, About 2 years ago
Reply to the comment left by Tim Jones at 21/10/2023 – 08:44
That won’t gain/change you much, in afraid.
Staying in the industry is really not a good idea and will likely not be better for selling than now. I wouldn’t be surprised if CGT rises rapidly and absolutely there’ll be more requirements placed on us.
Member Since December 2017 - Comments: 23
2:50 PM, 21st October 2023, About 2 years ago
Yep it all looks downhill really i can’t help but agree with you
I guess I’m looking at it as a passive investment for the next 50 years – assuming ups and downs along the way but it should roughly track the economy.
Member Since May 2014 - Comments: 616
7:56 PM, 21st October 2023, About 2 years ago
I agree It is a mug’s game we are drowning in legislation even before the RRB.
I will be getting out.
One of my properties I have owned since 1995 and I have spent a lot of money on it and I was hoping to pass it on to my children but I am having second thoughts about this now despite the emotional attachment.