Politics of Taxing BTL Landlords

ScorpiondeRooftrouser

jjlandlord wrote: »

It's not that a poster does not agree.

Many posters here clearly have an issue with landlords.

I suppose that for whatever reasons they rent when they would prefer not to. OK, we get it.
But that's not landlords' fault, is it? If anything without private landlords they would be on the street.

People should abstain from always blaming others for their own situation.

Lastly, those who claim that private landlords do not produce anything surely also think that hotels, B&B, and all hiring businesses in general do not produce anything.
People are just stupid enough to hand money to businesses that do not provide anything of value in exchange...

And when there'll only be 2-3 landlords controlling your whole local letting market you will be completely stuck.

Stop making foolish assumptions. I have nothing against landlords, and I have owned my own property since I bought my first at the very bottom of the slump in 1997 (purely due to fortunate timing). In fact I have considered going into the buy to let market but decided against it. I don't think it's evil. I don't kid myself that it is performing some useful function for society, though.

If you still don't see that being a middle man is only productive when you are adding value, I can't help you. Think of he situation like this, person A wants to buy a house for 100,000. Person B buys it for 110,000 and rents it out to person A. All you have produced is a self-perpetuating housing bubble. Yes, some rented property is necessary for society but we have a massive oversupply and people who want to buy, and would be better off buying, are forced to rent because they are priced out of the market by competition created by landlords. How is that productive?

jjlandlord

mwpt wrote: »

It's astounding that you guys run businesses based on property and you don't get this simple economic truth about the market.

We get it, don't worry.

Your reasoning is flawed: You assume that if a BTL landlord sells up the properties will be bought by tenants.
That's obviously not the case, otherwise tenants would have bought by now (if they wanted and/or could).

silvercar

If we had a massive oversupply then rents would fall and properties would be empty, that may be true in small areas of the country, but in most places rents have risen.

ScorpiondeRooftrouser

silvercar wrote: »

If we had a massive oversupply then rents would fall and properties would be empty, that may be true in small areas of the country, but in most places rents have risen.

There's a general shortage of property but an oversupply of private rental property within that - that is, people would prefer to be buying but are forced to rent.

ScorpiondeRooftrouser

jjlandlord wrote: »

We get it, don't worry.

Your reasoning is flawed: You assume that if a BTL landlord sells up the properties will be bought by tenants.
That's obviously not the case, otherwise tenants would have bought by now (if they wanted and/or could).

You're not aware of the fact that competition to buy drives up prices?

padington

Landlords do provide benefits, they have also enjoyed too much reward for their effort through capital apprication because of the side effect of QE. It was inevitable that extra taxes would come because of this. In the same way that if their was a currency implosion and gold rocketed, the government would raise taxes on that.

When some assets suck in so much of our own wealth ( energy ) it can be poor for our country because that energy could have been developed making groundbreaking new technological advances etc through new business ventures.

This budget will encourage more people to think, BTl no longer is a compete walk in the park. It may even incur more taxes in the future. So more money ( energy ) will start being transferred elsewhere. If this means more ex BTL landlords actually setting up successful business and employing full time workers etc or crowd funding others more , this could be a great development for everyone.

Personly I think the important thing is that everyone should consider what they are bringing to the party. Have you had great idea's you've done nothing with ? Are you sitting in a government paid position or taking government money other ways which currently requires the existing establishment to exist to pay for it ?

Are you a part of the problem or part of the solutition ?

varghesejim

I could relate this discussion with the "payday loans" argument.

What exactly is wrong with payday loans? The people are desperate to get money and they understand and sign the papers for a 1500% APR. What is the issue in providing them?

Answer: This is exploiting another persons helplessness for profit.

Letting business is not that bad, but close.

mwpt

jjlandlord wrote: »

We get it, don't worry.

Your reasoning is flawed: You assume that if a BTL landlord sells up the properties will be bought by tenants.
That's obviously not the case, otherwise tenants would have bought by now (if they wanted and/or could).

So who are they being bought by?!!!

Sorry, this is exasperating.