STOP The War On Buy-to-Let Landlords
STOP The War On Landlords
With the housing and rental crisis getting worse by the day, the UK government must cease its war on private landlords and restore the balance of power.
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Housing charities, such as Shelter and The Big Issue are calling on the government to end ‘no fault evictions’ and put a cap on rents, all of which is adding to landlord anxiety and causing thousands to quit the buy-to-let market.
- Almost 1 in 7 had their rent increased in the last month
- Of the 3.5 million private tenants who had their rent increased over 800,000 saw it rise by more than £100 a month, and nearly 200,000 by more than £300 a month
Almost 2.5 million renters are either behind or constantly struggling to pay their rent
- 1 in 3 spend at least half their household income on rent
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The government has introduced a raft of new ant-landlord legislation and red tape for private landlords including:
- Section 24 tax hike on rental businesses holding propertied in individual names
- Tenant Fee Act
- More tests such as electrical inspections and Legionella tests
- Renters Reform Bill, which will end Section 21 ‘no fault evictions’ and give tenants more rights
Meanwhile, the crisis is leading to record rent highs and creating a massive shortage of properties.
As predicted, the war on landlords is backfiring on the government and tenants and landlords are paying the price.
The Bank of England’s hammer blow interest rate hikes (to stop the inflation they help create through money printing on an industrial scale) have added another nail ‘in the coffin’ to the buy-to-let property model.
More pain to come for borrowers and mortgage holders as both the Fed and ECB raise interest rates by 0.25% this week, a record high for the European Central Bank.
Will the Bank of England follow at their upcoming meeting?
Landlords are switching to other rental models, such as Serviced Accommodation, company lets and holiday rentals, in order to in many cases substantially increase rental returns, bypass Renters Reform legislation and Section 24 tax changes and help them survive higher interest rates.
Landlord – Serviced Accommodation V Buy-to-Let Property Rental And HMO’s – Exploring Alternative Buy-to-Let Strategies in the UK: Serviced Accommodation, Holiday Letting, and HMOs
See: – Transfer Property Into A Limited Company Without Paying CGT or Stamp Duty https://youtu.be/mtGq7WaVxLA
If you would like more information and an assessment on letting your property hassle free, hands-off with FULL MANAGEMENT using the serviced accommodation model, email firstname.lastname@example.org with your property details and location.
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