Fair Rents (Scotland) Bill or Artificial state manipulation of free market rent?10:34 AM, 6th November 2020
About 3 weeks ago 36
What has become clear is tenants, Councils, and Journalists expect Landlords to live forever!
The reality is that they get older and die! At that point Councils have to house tenants who cannot find alternative accommodation.
Private Sector Landlords (PSL) were encouraged to buy more and more houses to ease the Housing Shortage in the South East.
However, the punitive tax measures introduced by HM Government simply mean that being a BTL landlord is not as attractive now as in previous years! I have put together a Portfolio of top of the range houses in Ashford. This essentially means when sold they will go to Owner Occupiers rather than PSLs who will be seeking higher yields.
An overview of HM Government tactics is that it is preferable for all non-social housing to be held by companies rather than individuals. These companies will be sold on and have an infinite life! PSLs do not!
Around 25% of houses are owned by PSLs. Most only own one house! Very many people have invested in houses in a non-corporate manner. Some now via a Company.
Many MPs own BTL houses and there is nothing wrong with that. I do believe there should be a Register of MPs who own BTL houses (and number) and this should be extended to Elected Members of Councils.
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