Peter David

Registered with Property118.com
Thursday 23rd April 2015


Latest Comments

Total Number of Property118 Comments: 21

Peter David

5 months ago
Reader's letter to IDS "Once I got started I just couldn't stop"

I could not have put it better myself. My partner and I have already made instructions to our two managing agents to increase new rents by 25%. Or accountant has warned us of a huge tax bill coming our way and we are not intending to sell our properties after decades of building them up. Section 24 is an existential threat to mortgaged BTL properties. And given that business related expenses are deemed deductible from income, by definition, it is impossible to treat the interest costs of BTL mortgages as being anything but a legitimate expense. An expense incurred wholly for the express purpose of facilitating the business. Section 24 is logically, commercially, economically and humanely - wrong. Tenants are facing 12% electricity bill increases in the next year. Many will face increases in their rent also as we landlords try to counterbalance section 24 tax. Our portfolio of properties are maintained to the very best levels that we can afford to do and we always react very promptly to all enquiries and get stuff fixed. Especially safety factors. Our budget for maintaining properties and keeping everybody happy and safe is now being attacked by section 24 tax demands . We are having to scrimp on our maintenance budgets already. Grenfel Tower anyone? I'm sorry to mention that but the section 24 cost means less working capital and cash flow all round which puts huge pressure on everything. This whole section 24 situation is completely unnecessary and is about to cause a very great deal of serious and meaningless hardship pain and misery to everyone. Not one person or agency is going to benefit. It needs immediate repeal.... Read More

Peter David

11 months ago
Extreme Left academic and advisor to Labour shocks Landlord into response

Reply to the comment left by "Alex Pawlowski" at "10/01/2017 - 12:06":

I think there are good offers on one way flights from Heathrow to Russia still as well...... Read More

Peter David

11 months ago
Extreme Left academic and advisor to Labour shocks Landlord into response

Most academics are embarrassingly naive, and bizarrely, ill informed for the most part, and I, as a professional landlord wouldn't dignify this professor with a response. Unfortunately the prevailing government are as equally inane in their sentiment towards the private rented sector. Section 24 will produce nothing positive whatsoever. That much is obvious.... Read More

Peter David

A year ago
Taxi drivers to lose tax relief on fuel in the Autumn Statement 2016

Reply to the comment left by "Barry Fitzpatrick" at "11/11/2016 - 07:41":

Is someone's putting LSD into the main water supply in Westminster?... Read More