Right to buy on privately rented homes

lisyloo

MobileSaver wrote: »

LOL, you have no idea what you are talking about do you? :rotfl:

No he doesn’t AG47/RealElement47/DannyGold (oops that was almost Fanny) has no idea about real success and has some history of financial failure.

I’d love to have a massive CGT bill.

Malthusian

chucknorris wrote: »

I think that the only way that it would work would be if it was voluntary scheme, along the lines of the discount being funded by, the saving of an estate agents fee, a Gov grant for the tenant buyer, and a CGT free sale for the owner.

Corbyn's Labour aren't going to hand a bung to people who are already well-off enough to buy a house, for the ultimate enrichment of landlords.

The point of this plan is to smash landlords, not enrich them with a government bung via the buyer and a tax break. The entire point of the proposal is that tenants should be able to buy their homes at the landlord's expense, not the government's.

MobileSaver wrote: »

Really? Do you have a source for that [landlords being prevented from evicting tenants before they acquire right to buy] or did you just make it up as usual?

AG/RE/DG isn't making it up, it's an inevitable part of the proposal, whether it's made explicit or not.

If landlords have the right to freely eject a renter and renters acquire a right to enrich themselves at the landlord's expense after three years then inevitably all landlords will eject their tenant after two years. Alternatively, they will massively hike the rent in the third year to cover the potential cost of the right-to-buy discount.

Tenant right-to-buy therefore must include banning landlords from evicting tenants at will, and hiking rents by more than inflation. Socialism has a solution to every problem, especially the ones it created.

Of course most landlords will evict them anyway because most renters won't challenge them in the courts. Those that do will settle for a few hundred or thousand to compensate them for the inconvenience of finding a new rental after an illegal eviction. Small landlords will not be able to afford these shenanigans, so the consequence of Corbyn's proposal is that big property companies who can absorb this as a business expense will hoover up rental properties being dumped on the market by smaller landlords who can no longer bear the risk. The decrease in competition will push up rents and lower living standards.

westernpromise

As others have pointed out, it does make you wonder why if this is such a great idea it can;t be applied more widely.

If you rent a car you get to buy it at a discount funded by the car hire company. If you use a Boris bike you get to keep it. If you rent a film off Netflix you get to keep it.

It's a winner.

SpiderLegs

westernpromise wrote: »

As others have pointed out, it does make you wonder why if this is such a great idea it can;t be applied more widely.

If you rent a car you get to buy it at a discount funded by the car hire company. If you use a Boris bike you get to keep it. If you rent a film off Netflix you get to keep it.

It's a winner.

And of course, work for me for two years and you can apply* to have half my salary paid directly into your bank account.


* you will get sacked at 1year 364 days

RealElement47

There will obviously be rules put into place to minimise loopholes.

And besides who wants all the headache of being a landlord having to look for new tenants very few years

chucknorris

Malthusian wrote: »

Corbyn's Labour aren't going to hand a bung to people who are already well-off enough to buy a house, for the ultimate enrichment of landlords.

It wouldn't be a bung though, it would merely cover the discount, and put the landlord in the same position as if he had sold the property on the open market and paid the CGT. The bung would be to the tenant buying.

It won't smash landlords, they will leave the market, and it will actually hurt renters.

Thrugelmir

westernpromise wrote: »

As others have pointed out, it does make you wonder why if this is such a great idea it can;t be applied more widely.

These ideas are to attract support from the electorate. If you've got nothing. Then you've nothing to lose. Taxation of the tech giants will no doubt follow shortly.

DannyGold

Thrugelmir wrote: »

These ideas are to attract support from the electorate. If you've got nothing. Then you've nothing to lose. Taxation of the tech giants will no doubt follow shortly.

Yes it’s all about buying votes.

Renters are now in larger numbers than at any time in the UKs history.

Whichever party appeals to this large number and gets their votes will get the majority.

Right to buy at a discount from your private landlord will win a majority. This is the only way Labour can win.

Question what will happen to somebody who converted their large family house into two or more separate flats? Will they be forced to sell part of their house?

MobileSaver

DannyGold wrote: »

Right to buy at a discount from your private landlord will win a majority. This is the only way Labour can win.

It's called populism; politicians say what they think people want to hear with little concern for whether they can follow through or not.

For example, after almost three years how much of Trump's wall has been built and paid for by Mexico? "Crooked" Hilary Clinton - how many days did Trump "Lock Her Up" for?

DannyGold wrote: »

Question what will happen to somebody who converted their large family house into two or more separate flats? Will they be forced to sell part of their house?

By Jove, I think he's got it!

It's plainly obvious that the populist sound-bites from Labour do not stand up to scrutiny. As you say, how could it work for HMOs. Similarly, how would it work for properties with large mortgages? The government is going to force banks to take a haircut? Somehow I don't think so.

The only way it would work is if it was voluntary and if the government covered the discount.

DannyGold

MobileSaver wrote: »

It's called populism; politicians say what they think people want to hear with little concern for whether they can follow through or not.

For example, after almost three years how much of Trump's wall has been built and paid for by Mexico? "Crooked" Hilary Clinton - how many days did Trump "Lock Her Up" for?



By Jove, I think he's got it!

It's plainly obvious that the populist sound-bites from Labour do not stand up to scrutiny. As you say, how could it work for HMOs. Similarly, how would it work for properties with large mortgages? The government is going to force banks to take a haircut? Somehow I don't think so.

The only way it would work is if it was voluntary and if the government covered the discount.

Couldn’t agree more about politicians promises.

Look at Modi in India, he promised every home in India would have an electric light bulb by 2019 if they voted for him. He got all the votes and now hope people forget his promises.

I suspect it will be the same with this proposal of right to buy private rented properties.

But the very talk of it, this proposal has already spooked the property market. Many LLs are getting out and foreign property owners are wanting to sell UK.