cockney steve wrote:^^^^^^^ You see it as a charitable rebate, then?
I don't, it's a business. I'm not a landlord though so as I say, it isn't my area of expertise when it comes to how small landlords set themselves up.
cockney steve wrote: the smaller investor is being squeezed out and forced to go to big business/banks. (How's that for a conspiracy- theory?
They certainly are, no conspiracy about it.
The 2015 Cameron / Osborne budget talked of increasing the number of affordable homes to buy
. The 2016 May/Hammond budget talked of increasing the number of affordable homes to rent
. A subtle but important switcheroo. Quite a surprising (and probably very stupid) switch for a Conservative government to make too.
What has happened in the last few years is that large scale apartment renting has become an investment sector that large funds are muscling into at the request of HMG to "solve the housing crisis" by institutionalising it. The taxation system seems to have been changed to squeeze smaller investors out of owning the property and into owning a financial product.
It happened with student accomodation 20 years ago and now it's the turn of private renters. When I produced my first large student scheme in 1998 I remember pals with student lets telling me that students didn't want to live in big blocks instead of living in a house with their mates. I've done a few more since then and each one fills as soon as it is completed, and another hundred or so houses drop out of the student lettings market. Many of these have been picked up by smaller landlords looking to rent to non students. Those houses are going to find themselves without tenants in the next few years too, so they will cycle back into private family homes as landlords drop out of the market.
I can see how incredibly frustrating it must be for nice people who have been quietly renting nice property to other nice people for years. It's happening though, and we can't stop it, so a small private landlord buying today needs to take extra care because the future will favour new institutional grade property.
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: Nothing from Disco-Tony - 06 Sep 2016
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