Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 4 weeks ago 48
With the 2015 elections coming up in six months time it’s time for landlords to start lobbying their MP’s. We need them to realise that over 1 million UK based landlords have a voice and have needs.
I am urging all landlords to write to their MP with a letter similar to my own (see below in italics).
You can be sure that tenants and lobby groups such as Shelter will be doing the same, so if we landlords keep quiet, as the usually do, the only voices MP’s will hear in terms of issues surrounding the PRS will be from those who despise landlords.
My letter to my MP (sent by email) ……
SUBJECT:- Forthcoming elections
“Dear Mr Freeman
As a resident of your constituency, and along with more than a million landlords operating in the residential private rented sector, I am beginning to consider who to vote in the forthcoming elections. I want to be certain that you will support landlords in parliamentary debates so I would be interested to understand how you feel about the following issues which are of primary concern to myself and my peers..
Like me, most landlords are simple hard working folk who invest into property to fund their retirement and who ask just 3 basic things from their tenants:-
No landlord enjoys periods when rent isn’t coming in! That’s why we want our tenants to stay long term. The cost of refurbishment between tenancies and re-letting far exceeds the cost of maintaining our properties and relationships with our tenants.
What landlords need is a quicker system to evict tenants if they don’t do any of the 3 basic things listed above.
Job mobility necessitates a larger PRS, it’s growth must not be allowed to be stifled in any way.
No tenant lives in poor conditions out of choice, increased availability of PRS property will create competition and resolve problems without the need for regulation. Supply and demand is basic economics.
We need Councils to use their existing powers to close down the rogue operators who tarnish the reputation of the private rented sector.
What we don’t need is more regulation (local or National) to be funded by stealth taxes on landlords (AKA licensing or registration fees). I doubt tenants would vote for this either when they realise it puts an upward pressure on the rent they pay and there are thought to be around 5 million tenants in the UK.
The powers granted to local authorities to implement Additional and/or Selective licensing need to be removed. These powers negatively effect property values and insurance premiums for all property owners, regardless of whether they are owner occupiers or landlords. Also, there is no strong evidence to suggest that licensing reduces anti-social behaviour, which is why these schemes were introduced in the first place.
CGT rollover relief is applicable to landlords who invest in commercial property, but not residential property. That is counter intuitive! Tax reforms are needed to encourage residential landlords to trade up and to create more churn in the property market.
Please let me know which of my above comments you agree or disagree with so that I may consider how I will vote at the next election, and so that I may publish your reply at Property118.com for my fellow landlords within and outside your constituency to read.
One final question please; do own one or more residential properties yourself which you let to tenants? A simple yes or no to this question is all that is required.
Important footnotes to Property118 members
You can find details of your MP here
You MUST quote your address in correspondence.
When you have sent your letter please post a comment below.
When you receive a reply from your MP please post that below too. If it’s a long letter please email to email@example.com and I will get it linked to your comment so that it can be opened in PDF format.
— Mark Alexander (@iAmALandlord) October 30, 2014
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