What does a Hung Parliament mean for Landlords?

What does a Hung Parliament mean for Landlords?

6:47 AM, 9th June 2017, About 6 years ago 145

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It is official the 2017 General election will be a Hung Parliament.

What Does this mean for Landlords?

With the two major parties both being Anti-Landlord could this be a Good thing?

Will any new minority Conservative or Coalition Government find it difficult to implement further new Anti-Landlord agendas?

What would potentially a Softer Brexit mean and possibly retaining some form of Freedom of movement?

We wait to see in the coming hours days and months, but what do readers think?

Property118 Poll Got It Right – AGAIN!

Below are the final results from our election Poll.

I believe this clearly demonstrates that landlords who read Property118 are representative of the whole of society, which is very different to the way media try to pigeon hole us.

Below are the actual election results

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Grumpy Doug

15:03 PM, 21st June 2017, About 6 years ago

Iain Duncan Smith - from Sunday's Telegraph - at last a public admission from a senior Tory politician that S24 will not work. Apologies if this has been posted elsewhere .... I haven't seen it anywhere. I'm away on hols at the moment but will be emailing my local Tory MP for comment on my return

"Finally, it is time to look again at the way we treat private landlords who buy houses to rent. George Osborne’s decisions to impose a stamp duty levy on the purchase of homes to rent, to restrict mortgage interest relief to the basic rate of income tax and to tax a landlord’s turnover rather than profits have led to landlords scaling back or even leaving the sector altogether.
They are a significant provider of the additional housing we need. We should be encouraging them with devices such as VAT relief on conversions or even capital allowances, not punishing them. It’s no wonder buy-to-let purchases have fallen dramatically. If the purpose was to stop foreign owners buying up property and leaving it empty we would be better off levying a tax on empty homes. For example, in New York, apartments can incur a tax of up to $20,000 if they are left empty. We are in danger of throwing the baby out with the bath water."

Dr Rosalind Beck

15:08 PM, 21st June 2017, About 6 years ago

Reply to the comment left by "Grumpy Doug" at "21/06/2017 - 15:03":

Thanks for that. I hadn't seen it and I keep my finger on the pulse. Incidentally IDS was going to be asked some serious questions about this by Richard Bowser (of the PIN network I think) at a conference last week - maybe this concentrated his mind.

Annie Landlord

16:47 PM, 21st June 2017, About 6 years ago

Reply to the comment left by "Grumpy Doug" at "21/06/2017 - 15:03":

Well I never thought I would agree with anything IDS said, but something must have stirred him to make this comment. I wonder if he will be able to convince his Party?

Dr Rosalind Beck

16:55 PM, 21st June 2017, About 6 years ago

Reply to the comment left by "Annie Landlord" at "21/06/2017 - 16:47":

He had several questions and points raised at a debate at Olympia last week. That seems to have influenced him.

Annie Landlord

17:25 PM, 21st June 2017, About 6 years ago

Reply to the comment left by "Dr Rosalind Beck" at "21/06/2017 - 16:55":

Great stuff. Lets hope he can influence others. Boris is just on TV talking about capping deposits for renters. Did he mean agents' fees? Not looked at the QueensSpeech yet.

Mike D

21:40 PM, 22nd June 2017, About 6 years ago

Unfortunately for us, there will be yet more pain i think,
the gist was Deposit Free Renting & No fees for Agents......Bloodbath!!

They are supposed to be going to consultation.....Another fight brewing, we all need to come together
Agents, Landlords, NLA maybe we could heavily influence as a body and give the Tories a kick in on S24 also,
Need Ian Duncan Smith involved

Annie Landlord

21:44 PM, 22nd June 2017, About 6 years ago

Reply to the comment left by "Mike D" at "22/06/2017 - 21:40":

I think the suggestion was that the deposit should be no more than one month's rent? I don't know when the government or the opposition will realise that attacks on landlords are attacks on tenants!

Mike D

10:52 AM, 23rd June 2017, About 6 years ago

Well i have 6 wks Annie, but sometimes that's just no where near enough for the amount of damage or unpaid rent that you have to collect for.....
after all, most deposits wouldn't even cover a trades mans wages for a week, a boiler let alone kitchens, bathrooms etc

Annie Landlord

11:09 AM, 23rd June 2017, About 6 years ago

Reply to the comment left by "Mike D" at "23/06/2017 - 10:52":

Agreed Mike. I have only ever evicted one tenant. Their deposit was £600. Repairs to the property, which was completely trashed, was £3000.

Luk Udav

17:40 PM, 23rd June 2017, About 6 years ago

Reply to the comment left by "Appalled Landlord" at "21/06/2017 - 13:58":

Appalled Landlord: Your selective quoting and non-sequiturs are revealing. Your accusation of trolling is frankly insulting. If you bother to read my short posts you can see why I consider the *unrefereed* report has flawed design.
(Rather amusingly I interpreted HPC as High Performance Computing, an area where I've published a lot. I did eventually realise what you meant, and to be equated to one of those tin-hatted loons was bizarre. I have a lot of properties being built/converted and am rather unkeen on a HPC)

Quite why a "so called Professor" at Oxford should be subjected to ad hominem scatological attacks here yet one at bronze (sorry, couldn't resist) LSE is to be lauded is a question I can only posit.

For an alternative precis of the LSE/York report see perhaps https://www.theguardian.com/society/2017/jun/13/foreign-investors-snapping-up-london-homes-suitable-for-first-time-buyers As has been increasingly obvious, people read the media that support their preconceptions. I didn't just take The Telegraph's slant, but pointed out the full report so people could get the full picture.

BTW: other work by Whitehead et al was early in pointing out the probable disastrous effects of S.24 and interestingly is quite warm about "communist/Marxist/far-left" CPOs.

Oh, and yes, I have loaned a car to someone whose own had broken down badly. And I have accommodated Chilean refugees in my own house.

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