Welcome to “Landlords’ Barometer #23” where, and please forgive me, I am not going to mince my words.
The private rented sector is facing a massive threat. The masses have seen a few pieces of the jigsaw puzzle, but some people have seen the picture on the box.
I believe that it is the Government’s intention to rid the sector of the small private landlord – to annihilate the “Mom and Pop” landlords who have invested in
property for their pension or their child’s inheritance.
This has huge implications for everyone reading this. It affects lettings agents, builders, mortgage brokers, lenders … anyone who supplies products or services to the private rented sector.
But most of all, it affects TENANTS!
The entire private rented sector must unite together under a common cause to fight these changes tooth and nail.
To that end, Property Tribes has launched a campaign:
1. Landlord tax changes: join and share our Action Plan to fight back!
A recent poll suggested that 55% of landlords were not even aware of the tax changes!
I expected a “sold out” room last week at the tax debate I hosted on behalf of the RLA at the Landlord and Lettings Show at the Barbican … but only 35 people turned up.
I find this very perplexing! Please spread the word in your networks and do your bit to have your voice and views heard.
Now is not the time for apathy. It is a rare occasion for tenants, landlords and anyone with an interest in the PRS to unite behind a common cause!
2. VIDEO: Industry Regulation Update with RLA Policy Director David Smith
In this video, David and I discuss the increasingly obvious threat to the private rented sector, and David also gives us a regulation update including details of the new Section 21.
3. Get on board with Prop Tech!
Nick and I are honoured to have been asked to host this important event that seeks to explore the best innovations in property tech to give your business the digital edge!
Taking place in London on October 14, this is a “must attend” event for all lettings and estate agents.
You can use our promotional code “FutureTribes10” to get a 10% discount off the ticket price. Click on the above link for more details.
4. VIDEO: Interview with property developer Phil Stewardson
Award-winning developer Phil Stewardson is feeling very upbeat about the property market and sees a lot of opportunity, despite the recent tax changes. He is going to be buying more property, not less!
5. Some dates of interest:
The Autumn Property Investor Show, the largest and most comprehensive exhibition of UK and international residential property (and services) presented in Europe each year, returns to ExCeL London for its ‘Autumn edition’ on October 9 & 10.
You can register for your FREE tickets to the event by visiting the show website
The NALS Annual Lettings Conference is taking place at the Mermaid Theatre in London on November 12 with a wide array of top-class speakers to help agents find business in these challenging market conditions. The event is to be hosted by Kate Faulkner and is an opportunity to work “on” your business, not “in” it!
Find our more at the Conference Microsite
Thanks for reading my column and I welcome all comments!
Comments (1)
It is clear the Government is making it almost impossible for landlords to not use agents who keep abreast of the ever changing laws and intentional traps to catch them out the unsuspecting. To mention of few of the changes are listed below:
1. Liability for water rates put on landlords (if WA not notified Gov gives private companies right to charge outside of contract).
2. Loss of empty rating depriving LL the chance to decorate /repair premises between lettings at no rates being payable when property is unoccupied.
3. Licensing for HMO’s and multi floor properties
4. Energy Performance certificates (S21 implication)
5. Gas safety certificates (S21 implication)
6. Deposit Protection schemes introduced (S21 implications)
7. DPS Prescribed Information (S21 implications)
7. Restrictions imposed on lower energy rated properties (remove from rental market).
8. Landlord licensing across the board. (council grab a grand scheme)
9. Right to rent legislation (acting as Immigration officers)
10. Anti eviction regulation. (S21 implications)
11. Smoke detector and co alarms regulations (1/10/15) (S 21 implications)
12. Additional Prescribed information (How to Rent) booklet. (S21 implications)
13. Taxation of landlords (tax relief changes) 2015
I would now not recommend anyone to go into the PRS as an investment unless they want to keep abreast of the ongoing onslaught and defamation of landlords in general by government and a well known charity. When landlords start to leave the market there will further increases in rent to reflect the reduction is supply. This is an inevitability.
I fear it will all end in tears! with tenants coming off worst as supply reduces.