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Landlords have been scared stiff ever since labour were elected, because a labour government usually means harsher conditions for investors.
But now the guessing game is over because labour just revealed their big plans for the UK Property market.
And they announced some big changes that could be the final straw for some landlords.
So in this video I am going to explain what labour plans to change and what impact they will have on UK housing.
Specifically we are to look at the UK rental reform policies that labour are considering such as no fault evictions.
36 Comments
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Now rents will go up because that idiot government just making the rich richer
The thing about benefit discrimination is real. I have been on benefits due to ill health and I couldn't rent because of this, I wasn't a bad tenant, had no debts, no CCJ's, good credit history, money in the bank and so on, but could I rent as soon as I mentioned benefits. Of course I couldn't, as soon as I mentioned benefits and ill health the owner/agents eyes would glaze over and their brain would shut down…… This was over 20 years ago so things may well have changed.
I don't get why people would spend so much money on a buy to let in the UK. My gf is from the Philippines, I'm from the UK, and we decided to go to the Philippines, buy land, build a couple of decent size holiday lets, register our business there for tax, and make a very good return on our investment. We bought the land from my future B in law and got the permissions (takes 4-6 months in some cases) and we started building. In less than 3 months we had a 4 bed, a 3 bed and a maids bungalow/chalet, all the services on and we were ready to let. Total cost for everything, except our air fares although my GF lived out there with family while the building was going on, a touch under GB£40k. My money was made back inside 2 years and everything after that is profit apart from paying US$25/week for family to clean, garden, do changeovers, and the bills of course.
My advantage is having family there, on my GF side, which saved me a lot of problems, time and money, and I had access to good land close to a city, about 1.5 hours away. The holiday rental from Americans gives me about 40 weeks a year occupancy although I could push that to more but I like to spend 3 months out there to do stuff on the houses and to relax in that lovely country. I employ family which pleases them and pay about 12-15% tax which pleases the local barangay (district council) and the BIR (tax offices). Get a good accountant both in Ph and the UK, where I'm based, would be some good advice. Employ locals wherever possible as wages are about US$5-7/day in Ph for a helper and get to know people out there who can help you get things done. We now have a retirement home, a good income, a place to holiday, no debts, and all for a fraction of the cost of building in the UK.
You will own nothing and be forced to be happy with it. REVOLT NOW!
Still buying properties regardless of new plans.
I saw similar changes happen in Spain, after which, many small landlords, reading the room, promptly sold, especially in poorer areas at greater risk of squatters. Rental prices quickly went through the roof due to shortage of properties leaving many unable to afford to rent anymore. Property prices followed suit leaving them unable to buy. Those who didnt sell started using agencies to insure their rent, (almost all do this now) these agencies wont rent to those claiming benefits, even when they can afford it. It has ruined lives in many instances, both landlords and renters, Ive unfortunately witnessed this personally.
These houses will go to migrants
rents need to double to allow for the impacts this will have ,,, sad but true , if you want subsidised housing go to tthe council or the likes , honest land lords cant be pushed further than they are at the moment ,,, wheres the crappy tenants list / data base that landlords should have access to … the tenants that are happy to take 12 months to leave and pay no rent along the way , , then do it again and again , landlords should be able to check this in advance . labour is creating homelessness , I have empty properties and its a lot less grief to keep them that way and write of income from good tenants against bad and just wait for property prices to rise faster than base rate inflation ,,,,
Just? 🎉😂❤ just?
We were asked to move out of a rental property after two weeks of moving in as the owner was selling… So they got us in to deliberately bridge the gap until they sold… Very rude
We just sold our property.
Nice young english couple ❤
This Labour government are an absolute disgrace!
Join Reform uk
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Enough is enough!!
👍🇬🇧🇬🇧🇬🇧🇬🇧
He works for free loaders and not for the common man.
Bro , still paying the extortionate rents …tweets wont help though genuine housing reforms would!
So i know some that are selling…whilst others will wait for a new govt. Rents will rise faster…
Do nothing for the term of this clown government, it will be corrected by the next REFORM party,
The tenant can be for ever three months in arrears on the rent. The landlord would have to wait three months and it will then take three or months to evict the tenant. If the rent is paid a few days before the eviction hearing, eviction would be avoided and the cycle will start again. The reforms are worthless and address no evils. Non payment of rent is "fault".
The big will continue to consume the small, and this applies to every business in the UK. Stammer's plan is in keeping with his bosses at the WEF: You will own nothing, and you will be happy.
To have decent tenants is a blessing many landlords don’t get it and were giving non fault evictions to many good tenants.
The best way for smaller landlords, is to get the property done up initially in good condition, get all legal stuff sorted like gas safe cert., electric cert., epc and buildings insurance…. then just find the right 'bigger' agent to manage it for you, with rent guarantee insurance to cover rent not being paid by problem tenants. Don't sell up to allow bigger companies having big rental portfolios!
We will use our money invest overseas 😂😂
Just cap rents or set them at a certain level as rising rents affect the economy spain france and germany did so as it affects inflation
Most landowners aren’t indigenous anyway so it won’t bother me
Progressive taxation is the solution. This shit will only give more power to the big landlords and disasvantage the small ones. Make owning 6 houses financially impossible, then we can get rid of the leech class and go back to the occasional landlords with REAL market prices
Does this include shared accommodation
Gov wants the councils to buy up all the surplus landlords houses so they can then control the rental market in Britain and house all the migrants .
Good. Buying up the housing stock so it is unaffordable for people to buy a home has needed changing for years
Oh no, poor landlords.
Sorry let me just get my tiny violin.
It's going to be £1000 for Westminster Council in London
It’s about time.
I'm a SEVERELY Mentally Impaired OAP here in Hull & I find This complicated!!… 🙁
3.55 – Last week, the government added rent controls to the bill, so the lower of CPI or wage growth.
So Labour go after landlords, theres a swathe of section 21's issued before the deadline, councils have to find temporary accommodation (the bad stuff owned by the bad landlords), and then your council tax bill goes up to pay for it? 🤔
😂will be pool of blood if renters won't pay.
Deposits need to rise to cover the potential five months of no rent. I want six months up front.