Fair Rents (Scotland) Bill or Artificial state manipulation of free market rent?10:34 AM, 6th November 2020
About 4 weeks ago 36
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?
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