What is next on top of everything else for Landlords in Wales?
I have watched with extreme interest, with many others I am sure, the developing catastrophe for some landlords due to section 24 Finance issues and then the Agents loss of tenant fees and then realised that on top of this in Wales we have Rent Smart Wales licensing (already enforced) and the new Renting Homes Wales Act enforcement coming in 2018 which will end assured shorthold agreements in the country…. a lot to take in! Not to mention MEES and Epc restrictions.
The short breathing space of the election is most welcome!
I have been a letting agent for 28 years in Wales and have been heavily involved in the training of over 2000 landlords and agents in the last year and the sheer amount of new legislation and finance changes is forcing many into reconsidering their strategies. Many are thinking that the basic management of their properties is too much and are moving to Agents for help.
I have always been an advocate of Contrary Strategies ie, ‘when others are frightened, be brave’ and vice versa, but the sheer weight of changes is making me question that for the first time……Is it the end of Buy2Let as we know it?
Dale
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Member Since May 2014 - Comments: 360
3:03 PM, 30th April 2017, About 9 years ago
For sure – attacks from multiple agencies simultaneously, a coincidence ? I think not. Politicians always sugar coat the poison. George Osbourne would have given us a zero break on interest if he could have got away with it. That would have taken out more landlords than the highly geared, the new entrants and those with clients reliant on HB tenants. A generalisation but you get my drift. The big players will com in and mop up but in ANY final analysis – the tenant will lose.
Member Since October 2016 - Comments: 55
10:49 PM, 8th May 2017, About 9 years ago
Socialist Republic of Wales?
Member Since May 2014 - Comments: 360
10:08 AM, 9th May 2017, About 9 years ago
And Scotland. See our new forthcoming tenancy agreement. No fixed term tenancies anymore. Great for planning…. not.
Member Since April 2017 - Comments: 23
12:18 PM, 9th May 2017, About 9 years ago
Reply to the comment left by “Jon Delorean” at “08/05/2017 – 22:49“:
So it seems! But I have to doubt the Tories agenda too!
Member Since April 2017 - Comments: 23
12:19 PM, 9th May 2017, About 9 years ago
Reply to the comment left by “Asif Ahmed” at “09/05/2017 – 10:08“:
Scotland’s certainly a cautionary tale.