Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 3 weeks ago 48
Land that is! Left Wing Organisations such as Shelter are very destructive in their comments and policies but need to understand they really must be Constructive not Destructive!
The added numbers of young families needing to be housed is greater than the on-stream supply of houses. So where does Shelter suggest these houses come from? These young families with a child/ren of vulnerable age are “front loaded”. Old people are “back loaded”.
Let me first say that Communism went out of fashion thirty years ago.
Family Housing is at Crisis Point in Britain. It is family housing that the Private Sector Investor focuses on and not on flats.
The reality is out in the sticks, where most live, single person accommodation is not a matter for the Private Sector Landlord (PSL). There are many Buy To Let (BTL) lenders who will simply not fund flats or units within Housing Warehouses. Hence the Property Investor gives them a wide birth.
They ask, who are they to sell them to when they Exit the Sector. All PSLs must have an Exit Strategy. Sooner or later they will die. Are you going to be the Richest Landlord in the Graveyard or have you an alternative strategy in place?
The problem for Shelter is who is going to fund these units (i.e small houses) for the young 22 year olds with a baby. They are not necessarily on State Benefits. Traditionally it has been the PSL, but they are exiting the sector due to the Punitive Tax measures. So what answer does Shelter have to attract PSL back?
If you go to “New Build” estates where the houses are marketed “off plan” the average landlord will purchase just one house. The tenant will be, a couple with just one child. As things stand that couple will be there for up to 15 years.
So where does the next 22 year old couple with a child find a home? I would very much like to see Shelter’s Policy on this?
However, please, please, please do not start on about Nationalising all Housing and lining up PSLs and shooting them. The present tax measures have driven landlords out of the Sector, but they are needed to fund housing for those who cannot afford to buy.
Is Shelter going to continue to kick PLSs are alienate them or does it appreciate it needs PSL, because HMG has no money to fund housing.
Let’s have some answers from Shelter?
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