Make for the Exit

by Larry Sweeney

8:50 AM, 16th April 2019
About 5 days ago

Make for the Exit

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Make for the Exit

When the Alliance was born last year, one of the first points we made was about the inevitable abolition of Section 21. Sadly it has now come to pass on the back of lies purveyed by fools.

We stated that we would be different and would not flog products as the other organisations do. Our sole source of funding has been from our members, who we thank. However, we must be honest even at the expense of not only not gaining new members, but losing existing members.

So Landlords how much more will you take? Get out now. Sell up and invest overseas or in equities. The PRS haters want to wreck the market.

Let’s stop swimming against the tide. Let’s help them achieve this. For those still standing at the end, rents will soar at which point we may get rent controls which will be the final stake through the heart of the PRS. At that stage there will be massive shortages and social mobility severely curtailed. Only then will the fools realise that our warnings were on the mark.

Accidental landlords, do not rent your home if work takes you away. Sell or leave it empty. By renting it you could fall foul of some minor council garbage law and become a criminal, or you may not get your home back. This should remove accommodation from the market.

HMO landlords, is your property in an improving area where it might fetch good money converted back. If so issue your section 21 notices now.

Landlords, if you were thinking of selling, evict now with Section 21.

Landlords could you change your business plan and get into holiday lets instead. Consider this plan.

Landlords, look at equities especially overseas. Perhaps you can get 8% plus with clever investments.

Finally landlords, look at property abroad. Our critics love to use the German model as an example. No comparison. In Germany no CGT after 10 years plus far less anti-social and delinquent tenants. Look at their streets, no litter. It’s a different mentality, plus in Germany not only do you get no kitchen, but no light fittings either. Compared that to the UK nanny state that expects landlords to tuck tenants up in bed at night.

As Ian Narbeth in his tenant fees article, click here, referred to the totalitarian state, that’s where we are heading.

In summary, get out of the market and watch it collapse. We never wanted this, but we are where we are and the blame can be laid squarely at the door of this useless inept excuse of a Conservative government and the vile antisemitic party that calls itself HM Opposition.
Be thankful, at least because the writing has been on the wall. Exit now. As the good gambler said ‘The bookies have an advantage, they set the odds, however we don’t have to take those odds. I don’t like the way the odds are now stacked against us. Let’s not take those odds and  let’s let them stick their rubbish legislation by jumping ship now.

To those considering hanging on even for one year. Join us now.

We cannot fight alone and surely it is now crystal clear how the other organisations have failed us on a monumental scale.

Larry Sweeney

National Landlords Alliance Ltd



Comments

Rob Crawford

9:00 AM, 17th April 2019
About 4 days ago

Without a doubt, the PRS is becoming a very high risk investment. Whilst the scrapping of no-fault possession process is now inevitable, I have no confidence that the proposed strengthening of section 8 or faster eviction court process will meet our expectations. Landlords who decide to remain must adopt very robust processes designed to eliminate any administrative errors. They must choose the lowest risk sector, certainly renting to universal credit or other high risk tenants should be given a wide birth. Legal and rent guarantee insurance is essential and credit/referencing checks must be conducted with high diligence. Guarantors should be considered for all tenants. If you use a letting agent, you must be confident in their ability to deliver the above. If that's all too difficult, now is the time to leave! Seek other, safer investments - but beware of the scams! Life's not easy!!

Larry Sweeney

9:36 AM, 17th April 2019
About 4 days ago

Excellent points Rob for those landlords remaining in the sector.

Coastal

11:19 AM, 17th April 2019
About 4 days ago

One of the most astonishing things I find in all of this...which Larry touches on above, is during all of these 'make the housing crisis worse' government anti FRS policies, they gave tax breaks to holiday let landlords! Unless your living under a rock, surely it's clear that rental housing for families should be encouraged and is far more important than holiday lets! Perhaps we should all serve S21's now and re let under SA - Serviced Accommodation!

Rob Crawford

12:27 PM, 17th April 2019
About 4 days ago

There will be a growing market for those wishing to offer LA's emergency accommodation!

Frederick Morrow-Ahmed

12:55 PM, 17th April 2019
About 4 days ago

It is Cromwell's head that should have fallen, not Kings Charles'. That vile man Cromwell was the biggest disaster to have befallen this country, his 'New Model Army' financed by vested interests from the Netherlands.

Cathie Hawkins

17:08 PM, 17th April 2019
About 4 days ago

Sooo, I must have this wrong, so please educate me.
I thought that the local authorities only had a duty to house people that are ‘unintentionally homeless’ - not those that are intentionally homeless by not paying their rent or other untenant-like behaviour.
So, if the majority of S21 evictions (which are ‘probably’ for rent arrears etc) become S8 evictions, the LA don’t have a duty to rehouse them. I can see why the LA’s would love this. Their emergency housing figures would drop substantially.
But why would Shelter support this move? Where will these ex-tenants be housed? And by whom? I’m still not planning on taking on tenants that have previously been evicted by S8 - unless that becomes discrimination too.

Rob Crawford

17:54 PM, 17th April 2019
About 4 days ago

Reply to the comment left by Cathie Hawkins at 17/04/2019 - 17:08
Hi Cathie, you make a good point but I think you are assuming that Shelter et al have thought the process through! They obviously have not and this is exactly why the housing situation is what it is and why it's not going to get better!

Luke P

20:52 PM, 17th April 2019
About 3 days ago

Reply to the comment left by Cathie Hawkins at 17/04/2019 - 17:08
Throw a kid into the mix and they have a duty to the child…and consequently the intentionally homeless parent(s). Et voilà!

Chris Daniel

0:35 AM, 18th April 2019
About 3 days ago

Reply to the comment left by Rob Crawford at 17/04/2019 - 12:27Yes Rob,
But landlords Must resist that, for two reasons.
Firstly, it helps the govt out of a crisis of its own making, but more importantly
Secondly, That is where the higher proportion of the worse Tenants that you would really need Sec 21 for, lurk. - your professional bad tenants.
With more landlords exiting the market, rents increasing, demand and the Choice of Tenants for a landlord will become a pool to choose from.
I see tenant passports coming into play, which will be a way of identifying the bad tenant ( because they won't have one )
Leave the worse tenants for the L.A to cope with, let them tell central govt of the mistake they made by scrapping sec 21.

Jim S

10:45 AM, 20th April 2019
About 20 hours ago

Reply to the comment left by Cathie Hawkins at 17/04/2019 - 17:08
This is a very important comment, so homelessness is going to go through the roof!
I have just had my 65 year old neighbor ask me if she should rent out her house for a year or two or sell it as she plans to move in with her new partner, my advice was to sell now as she may not be able to get the property back to sell in the very near future.
Residential rented property has now become a volatile stock and is no longer a blue chip asset class.


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