Right to Buy for Private Tenants.

ging84

somethingcorporate wrote: »

House prices would rise to accommodate the discount hence rendering it useless.

Why? it would have no effect on the open market
If i am the only person who can buy a particular £100k house for £90k, why would that make someone else more inclined to offer £105k for it?

chucknorris

Running_Horse wrote: »

Why not? Many councils were forced to sell houses against their will, so the principle has been established. Discounts would have to be lower, say 10% or being allowed to buy at the purchase price five years ago if you had been a tenant that long. There would need to be safeguards to ensure landlords did not evict tenants just to avoid selling. It could be as big a vote winner today for Labour with "aspirational" voters as council RTB was for Thatcher a generation ago.

Totally agree, but with one condition, you have to defeat me in a fight to the death in an axe fight, please PM to arrange the fight (don't worry, I promise to place your hand on your heart after hacking you to almost death (as per your signature)).

PS could we have a £50 side bet, just to make it interesting?

EDIT: I've just realised the landlord would value the property (as does the council), forget the axe fight to the death, the good news is that I am willing to give you a 20% discount!!!!!!!!! (from my valuation of course).

purch

Just get Foxtons to value it for you.

They always value about 25% over, so with a 20% discount you'll still win :beer:

Running_Horse

bebewoo wrote: »

Ridiculous

The notion of buying your council house at a discount was once considered ridiculous. Most people got used to it in the end, and no party has dared withdraw it.

I know a couple with a child who pay three times my mortgage in rent. The right to buy would enable them to enter the housing market, with the 10% discount being considered the deposit they can't afford to save. The landlord has already enjoyed huge capital increases and would still make a profit.

michaels

chucknorris wrote: »

EDIT: I've just realised the landlord would value the property (as does the council), forget the axe fight to the death, the good news is that I am willing to give you a 20% discount!!!!!!!!! (from my valuation of course).

You are a landlord, I bet if any of your tenants came to you with an offer you would at least consider it, no need for coercion. Would the OP propose that hire car companies should be forced to sell you any car you hire?

chucknorris

michaels wrote: »

You are a landlord, I bet if any of your tenants came to you with an offer you would at least consider it, no need for coercion. Would the OP propose that hire car companies should be forced to sell you any car you hire?

It has actually happened, and I did consider it, but nothing came of it (they withdrew their offer). Obviously I don't take the OP seriously (I doubt anyone else does in the real world), he is just another forum nutter, who doesn't live in the real world.

Rinoa

The govt's plan to allow housing assoc. homes to be sold off apply only to those properties 'gifted' to the HA by the local authority, in other words ex. council houses.

Homes bought by a housing assoc. themselves won't be sold.

Let's hope this time the govt. allows new homes to be built with the proceeds.

wotsthat

cells wrote: »

Right to buy social homes was swapping one subsidy with another, in many cases especially over the last 5-10 years it was profitable to do so for the state

Think of it this way

What is a million pound home worth with an AST ... a million pounds

What is a million pound home worth with a regulated tenant paying only £400 per month who can gift it to their kids who can gift it to theors etc. Well in that case the property is not worth a milliom pounds nowhere near it. Its true value is probably no more than £100k


council homes should not be valied on the price of normal home sales or BTL sales they should be valued as the net present value of future profit that would be more sane. In which case a lot of RTBs were sold at a big profit

..or bung the regulated tenants £10k to do one and suddenly the council has increased the value of the house from £100k to £1m.

45002

Just for Reference

In Certain circumstances, Regulated Tenants have the right to buy.

The rights of first refusal -Part 1 landlords and tenants Act 1987 (as amended by the 1996 housing act)

http://www.communities.gov.uk/docume...df/leaflet.pdf

Page 54

zagubov

Singapore did this from 1966 onwards under its Land Acquisition Act. It forced a cartel of landlords to sell at submarket prices until the government share of land ownership rose from 31 to 76%.