How can landlords be blamed for consecutive government legislation?
Another day, another landlord bashing article courtesy of The Independent: Forgive me if I have little sympathy for the plight of buy-to-let landlords like the one who’s kicking me out.
But how can landlords be blamed for consecutive government legislation? ? ?
- Landlords did not push up the price of London rentals.
Government allowed circa 80% of London to be bought up by overseas buyers unchecked and to purchase at the same level of stamp duty as British Citizens. No provision was ever made to make them pay more so that landlords could reinvest into new housing stock, creating the biggest international windfall for people investing in one of the biggest cities in the world at no premium = nothing to do with landlords.
- Since 1973 successive governments have got us tangled in the web of the European Union and opened the doors to immigration; allowing mass migration that had no other option but to live within PRS housing stock = nothing to do with landlords.
- April 2016/2017 legislation coming in:
– Rising court fees as well as charges and costs incurred for court delays,
– Bank of England proposes buy-to-let landlords should face new affordability tests,
– Landlords renting out furnished homes to lose their 10% wear and tear allowance,
– 3% stamp duty surcharge comes into force for buy to let or second homes worth more than £40,000 in England and Wales,
– as well as the cost of registering deposits, no council tax exemption for empty properties, fighting disputes = nothing to do with landlords.
UK Landlords are having to pay more and more to the government and like any business they must offset those extra charges to their clients, as it is reflective in their retail price. Therefore it is absurd that Politicians, Shelter, The Citizens Advice Bureau, councils, government and tenants continually hide behind the misconception that everything happening in the buy to let industry is solely the fault of their landlord. It is not – it is solely the fault of those mentioned within this paragraph!
We need to stop using landlords as scape-goats for the lousy legislation that’s come out over the years NOW!
In point of fact, this topic was actually posted yesterday within our discussion forums:
The reason that this investor is exiting the market is because of Wales’ landlord licensing scheme (Rent Smart Wales) introduced last Autumn and the increased taxation she is having to incur. Having been a good landlord for 6 years she is now having to make a mother of three homeless all because of consecutive government legislation being heaped onto the private rented sector that is forcing her to sell up.
So, Kirsty Major at The Independent: is this her fault or the compound? ? ?