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BTL is in desperate need of reform

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Comments

  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    The main reason for that reduction in rental stock would be current renters buying, so there would be a corresponding drop in tenants too. Simples.

    Your still thinking too [STRIKE]simples[/STRIKE] simply.
    Your considering only those currently retning, what about those still with their parents, future generations, future positive net migration.
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • diable wrote: »
    I rent a council flat that is paid for by housing benefit I am on the dole so get free cash I work on the sly down the market and I also own a flat that I rent out earning me even more money, I love this Country and long may it continue, I am also of Eastern African origin but was born in Eastern Europe.........

    Good for you, diverting taxes away from the swamp that is central government and using it to enliven the local economy whilst showing a certain entrepreneurial spirit within the housing market. We are all very pleased to hear that you are doing so well.
  • Your still thinking too [STRIKE]simples[/STRIKE] simply.
    Your considering only those currently retning, what about those still with their parents, future generations, future positive net migration.

    And you seem to have forgotten that many people rent through choice, not necessity. Add that fact to reduced wages, reductions in LHA, job insecurity etc etc and what do you get? Simples enough?
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    How about the savings made to the LHA bill for a start?

    How much do you think it could save?
    There are 1.3 million BTL mortgages properties, let alone the properties that are owned outright.

    Will the LHA saving equal £195,000,000,000 (assuming the 1.3 million BTL properties are averaging £150,000)?

    What's the cost of housing / maintaining all these properties for those on housing benefit?

    Better consider your tax bill going up
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    And you seem to have forgotten that many people rent through choice, not necessity. Add that fact to reduced wages, reductions in LHA, job insecurity etc etc and what do you get? Simples enough?

    Hmmmmm, we saw this in 2008 did we????????

    On your points: -

    reduced wages - facts will show that wages inflated and have done year on year throughout this recession

    reductions in LHA - If your referring to the 50th to the 30th percentile, there have been debates on how this does not necessarily reduce rents, but either can mean people have to move into the lower valued properties else, the lower percentile rates are increased, increasing the 30th percentile level.

    job insecurity - I would have thought more people were insecure in 2008 or the run up to the election. Sure people may still be cautious but confidence is increasing, not decreasing as time goes by.
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • How much do you think it could save?
    There are 1.3 million BTL mortgages properties, let alone the properties that are owned outright.

    Will the LHA saving equal £195,000,000,000 (assuming the 1.3 million BTL properties are averaging £150,000)?

    What's the cost of housing / maintaining all these properties for those on housing benefit?

    Better consider your tax bill going up

    Well, plenty of housing associations seem to manage to juggle the job of housing/maintaining their properties while charging affordable rents AND running at a surplus (or profit, if you prefer), and I very much doubt that you average is accurate either.
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite

    Is this referring to housing associations?

    Which coucils in England have BTL registrations?
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • Hmmmmm, we saw this in 2008 did we????????

    On your points: -

    reduced wages - facts will show that wages inflated and have done year on year throughout this recession

    reductions in LHA - If your referring to the 50th to the 30th percentile, there have been debates on how this does not necessarily reduce rents, but either can mean people have to move into the lower valued properties else, the lower percentile rates are increased, increasing the 30th percentile level.

    job insecurity - I would have thought more people were insecure in 2008 or the run up to the election. Sure people may still be cautious but confidence is increasing, not decreasing as time goes by.

    All that confidence, higher wages, job security.... it just makes you wonder why high street spending is falling all of a sudden.
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Well, plenty of housing associations seem to manage to juggle the job of housing/maintaining their properties while charging affordable rents AND running at a surplus (or profit, if you prefer), and I very much doubt that you average is accurate either.

    Sure I picked £150,000 as being just under the average house price as shown by the Land Registry, so it could be on average lower.

    Of course I did also state that a number of properties are let that do not have a mortgage and thus the 1.3million is a lower number than actual rented properties.

    P.S. Wow, just did a quick search for housing association properties for rent adn can see why they are returning a profit. £1,600 pcm for a 1 bed apartment and it's not even fully furnished ;)

    http://www.peabody.org.uk/finding-a-property/open-market-(rent-or-buy)/rent-on-the-open-market/open-market-rental-listing.aspx
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    All that confidence, higher wages, job security.... it just makes you wonder why high street spending is falling all of a sudden.

    Ok, goodnight, I look forward to the day when you can proove me wrong and we see the government re-nationalising ALL the rental stock.
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
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