Call for 80% rental income guarantee for small landlords!

by Readers Question

10:09 AM, 6th April 2020
About 7 months ago

Call for 80% rental income guarantee for small landlords!

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Call for 80% rental income guarantee for small landlords!

Please support small landlords by signing this petition Click Here. Like and share on your social media to make a difference.

Private sector landlords play a vital role in the UK property sector which is generating over £50bn in rental payments contributing billions to UK treasury in income taxes.

“Rental income is subject to income tax – to say nothing of the Stamp Duty premium paid by B2L landlords. It seems only fair that it should be subject to the same Government guarantees as other incomes.

“A blanket freeze on all possessions activity will protect tenants in the short term, it is bound to lead to an accumulation of arrears that will be all the harder to deal with once the freeze is lifted.

“A three-month ban on possessions activity will result in even longer spells without rental income – possibly six months or more of state-enforced void periods.

“Payment holidays on buy-to-let mortgages will be of limited help to landlords who in many cases rely on income from a small number of properties. If one or more of these is not generating an income for an extended period, it could cause families real financial difficulty.

“Landlords paying up to 66% tax increase by 2020/2021 The change is being phased in over four years, ending in the 2020 to 2021 tax year. Accountants Blick Rotherberg calculate that by then, higher rate taxpayers could be paying up to 66% in tax.

“This percentage reflects the overall effective rate of tax, calculated on the basis that a landlord who’s a higher rate taxpayer can no longer get full tax relief – as they could before – on their mortgage interest.

“The private rented sector remains the second largest tenure in England, and has grown in the last 20 years.”

Mohammed


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Comments

Luke P

10:42 AM, 6th April 2020
About 7 months ago

Petitions are a waste of time. Not only are Parliament not properly sitting right now, a range of petitions for things relating to CV-19, even those with huge numbers of signatures, are being dismissed with a standard reply of ‘The Govt. have introduced a range of measures already, so please either shoe-horn yourself into one of these help boxes or politely go away. Thank you.’

I’ve signed though.

Chris @ Possession Friend

12:28 PM, 6th April 2020
About 7 months ago

Reply to the comment left by Luke P at 06/04/2020 - 10:42Agreed Luke, but any sharing of the awareness, and actually getting co-ordination amongst Landlords can't be a bad thing ( regardless of the outcome ? )
I've signed and shared on my Facebook & twitter.

Dennis Leverett

13:10 PM, 6th April 2020
About 7 months ago

Agree with Luke but I've signed, be interesting to see how many it gets. Not holding my breath. More than Acorn would be nice.

Alan Wong

11:33 AM, 7th April 2020
About 7 months ago

As far as I know, everyone else is getting bailed out up to 80% of their loss of income except landlords. Private housing providers have not received one single £1 of support yet from the government. The government takes powers from landlord to carry out their legal duty to recover a property for 3 further months 'ON TOP OF THE MONTHS AND MONTHS NEEDED ALREADY' which is clearly not right. No tenant could of been evicted during the crises in all cases as the tribunals are not open for a start and in usual times it takes around 6 months to evict a tenant. Even when the tribunal opens up, they will decline eviction due to the crisis. The government decided to extend that legal procedure for 3 further months. We already need 6 months which is plenty of time for tenants to deal with matters with their landlords. Now it takes it up to 9 months before we can evict a tenant and that is if the tribunal reopens for processing the paperwork. So all this does not make sense. So effectively asking private housing providers to house families for 9 months for free out of our pockets and at the same time not offering any loss of rent compensation while everyone else loss of income is paid up to 80%. Regarding mortgage holidays, sounds good but it is asking us to 'defer' the mortgage to build up further debt and those 3 months bank interests will have interest on top of interest. So good news for bankers, they are making more money out of this crisis while landlords are getting another blow. While the governments should be focusing on tackling the crisis, they quickly focused on further attacks on landlords during this time. We are private businesses like every other. When the government is asking private hospitals to be used for the Nhs to tackle this crisis, the private hospitals get paid, when the government is asking Dyson to make 10,000 ventilators, Dyson gets paid. When the government is asking private housing providers to house families during this crisis, they allow tenants not to pay with no consequences. I think we should all work together and sure no tenant should be evicted but the government must pay for the rent not ask us to do it for free while we have a mountain of monthly outgoings like factoring charges, building insurance, mortgages, repairs and maintenance, council tax and on it goes....Regarding the petition, it should be for all landlords not just 'small' landlords as 'small' can be defined as they wish and very selective. I will sign it if it is for all.

Clint

17:34 PM, 9th April 2020
About 6 months ago

I signed the petition although, I do not believe the government will agree to pay us 80% of the rent or take any notice of the petition.
See the link below where there is a petition for rent to be suspended all together:
https://you.38degrees.org.uk/petitions/promoted/suspend-all-rent-payments-no-coronavirus-evictions?bucket=facebook-advert-25_3_2020_cbymarchgrowth_lal_uk_nhs_rentcoronavirus_meb&share=4fad82aa-2fdf-4f60-9c6e-85ad6e0394e6&source=facebook-share-email-button&time=1585301187&utm_campaign=25_3_2020_cbymarchgrowth_lal_uk_nhs_rentcoronavirus_meb&utm_source=facebook&fbclid=IwAR3w9qzp6YlSWqEmNNdzVhujgCs-Abp0iunF_9Et80_VjomRuKHaLJBJnUs
and a further link which indicates that landlords are being given a mortgage holiday implying that landlords do not have to pay their mortgage for 3 months and do not have to make it up later
https://londonrentersunion.org/c19rentcrisis/
I believe, it is absolutely essential for all landlords to sign the petition as, without us there would be even more homelessness, and we are providing an essential service unlike many other businesses. If landlords go under, it will be the same tenants who are trying to get rents suspended that will be most affected.

John Parfett

6:35 AM, 10th April 2020
About 6 months ago

Signed

Aj Daniels

0:40 AM, 11th April 2020
About 6 months ago

The way things are going, there are no support for landlords and the petition like this can raise the concerns as the Mortgage interest tax relief, capital gains tax exemptions for 'accidental' landlords - those who held onto homes they once lived in - and letting relief were all cut from last week. I have sent the link to many of my whats app groups and expect to get a good number to reflect our concerns.

Stu Lu

18:13 PM, 11th April 2020
About 6 months ago

As a landlord I feel persecuted by a Government that is suppose to be business user friendly. I know that housing is a sensitive sector but the Government do not seem to want to hear the case being put by responsible landlords or their professional associations.
I'll sign the petition but we need a united, nationwide and coordinated effort that will produce 100,000 signatures to petition the Government to hold a debate (whenever) to redress the disparity between landlords and tenants.

Chris @ Possession Friend

20:07 PM, 11th April 2020
About 6 months ago

Reply to the comment left by Stu Lu at 11/04/2020 - 18:13
There in lies the problem Stu, a lack of Landlord co-ordination ( and in many cases, interest, I'm sad to say. )


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