Section24 and SDLT hitting tenants – RLA

by Property 118

9:30 AM, 21st January 2019
About A year ago

Section24 and SDLT hitting tenants – RLA

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Section24 and SDLT hitting tenants – RLA

Data released by the Royal Institution of Chartered Surveyors, click here, warns that whilst demand for rented housing from tenants “held more or less stead for the third month running”, the number of landlord instructions “declined once again, rounding off a year in which they have fallen in all twelve months.”

The RLA is blaming the Government’s tax rises on the sector for the difficulties tenants now have in accessing suitable private rented housing. This includes the restriction of mortgage interest relief for the sector to the basic rate of income tax and a stamp duty levy which penalises the development of new homes to rent. This is despite the Chartered Institute of Housing recently noting that “tax reliefs deliver a much bigger benefit to home-owners than they do for private landlords.”

RLA Policy Manager, John Stewart, said:

“Whilst the Treasury seeks to dampen investment in rented housing, demand from tenants shows no signs of slowing down. Recent tax rises have served only to make the housing crisis worse.

“Rather than seeing it as a problem to be managed, the Treasury needs to develop a series of pro-growth tax measures that support and encourage the majority of good and decent landlords to provide the new homes to rent we desperately need. Otherwise tenants will find it increasingly difficult to find suitable homes to rent at affordable prices”



Comments

Anne Noon

11:19 AM, 26th January 2019
About A year ago

Reply to the comment left by Whiteskifreak Surrey at 21/01/2019 - 10:51From what I have gathered, it is becoming more difficult for Osborne's "buddies" to build the apartment blocks which are supposed to house the "evicted" tenants. This is because for many years, Corporate bodies have been able to finance their ongoing developments by selling the flats off-plan to investors with a guarantee of a BTL mortgage once the flats are finished and tenantable. Additionally, the more stringent conditions attached to mortgage affordability and stress tests, means that fewer landlords can meet these criteria. Consequently, as the number of private landlords has decreased and they are no longer investing in property, the Corporate Bodies cannot start their developments unless they fund it fully from Cash. Additionally, the rents these companies charge are often much more than a similar property in the private sector.

Anne Noon

11:25 AM, 26th January 2019
About A year ago

Reply to the comment left by Old Mrs Landlord at 21/01/2019 - 12:07
Very well put, but Politicians, the Press, Shelter and many other organisations do not see it that way. God help us if Corbyn gets in!!

Annie Landlord

11:34 AM, 28th January 2019
About A year ago

Reply to the comment left by Whiteskifreak Surrey at 21/01/2019 - 10:53
You can follow them on twitter: @landlords_ltd
If, however, you question them they will send you unpleasant private messages then block you:)
They are trying to bring down the ICO as well as Shelter now.
They have paid for a huge anti-shelter billboard on a building in Liverpool
Don't know if this link will show you the picture:
Tweets with replies by The Landlords Alliance (@landlords_ltd) _ Twitter.htm

AJ

12:29 PM, 28th January 2019
About A year ago

AJR

19:46 PM, 31st January 2019
About 12 months ago

Not particularly relevant to this thread BUT can we all stop referring to ourselves as ‘Landlords’. Few of us own great swathes of land and I don’t personally know any housing provider who is a Lord. The very word Landlord is loaded with notions of privilidge, Title and wealth and sends out the wrong message. We are ‘Private Housing Providers’, ordinary hard working folk who have chosen to make a living providing good places for folk to live in.

The word LANDLORD is just too easy and convienant for many to find ‘offensive’ and is one primary root of why we are so roundly unpopular.
It maybe just a small word but it has very negative connotations. It is also outdated, inaccurate.

Annie Landlord

10:00 AM, 1st February 2019
About 12 months ago

Reply to the comment left by Anthony Richard at 31/01/2019 - 19:46
I agree entirely. In addition, the likes of Shelter and GR have started to refer to our business as 'landlordism' which has equally derogatory connotations. Someone suggested a while ago that the name of 'Private Homes Provider' should be adopted by private landlords. I have started using this in some conversations on social media. When asked what that means, it gives me the opportunity to explain a bit more what our business is really about.

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