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EverybodyDannsNow SE19 29 Jul 21 1.13pm | |
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Originally posted by ASCPFC
You make a good point. You wonder why we can't properly legislate for private renting. Loads of other countries do. It would not be making landlords lose, rather they would just make slightly less profit. Both Britain and Ireland have this issue. The longest lease is six months at twice or three times the price of a mortgage. Edited by ASCPFC (29 Jul 2021 11.31am) Honestly, private landlords have already been squeezed to breaking point and if you ignore capital appreciation, it's barely profitable being a landlord in London these days - most of zone 1 or 2 you're lucky to find a 3% yield on an buy-to-let property. Factor in the cap on deposits, ban on tenant fees and the supremely tenant-friendly eviction processes, and it's barely worth it. We need to encourage good landlords to continue to provide housing, and ensure there is enough of an incentive for them to do it - as it is, tons of good landlords are cashing out and selling up, and the only ones still turning a profit are the ones cutting corners and over-filling properties.
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Badger11 Beckenham 29 Jul 21 1.14pm | |
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I would also like to see 5 year leases with the rent spelled out for each year e.g. Year 1 10,000 pa That way both parties know what what they are getting into and the landlord can't jack up the rent on a whim. Edited by Badger11 (29 Jul 2021 1.15pm)
One more point |
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croydon proud Any european country i fancy! 29 Jul 21 2.13pm | |
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Originally posted by EverybodyDannsNow
Honestly, private landlords have already been squeezed to breaking point and if you ignore capital appreciation, it's barely profitable being a landlord in London these days - most of zone 1 or 2 you're lucky to find a 3% yield on an buy-to-let property. Factor in the cap on deposits, ban on tenant fees and the supremely tenant-friendly eviction processes, and it's barely worth it. We need to encourage good landlords to continue to provide housing, and ensure there is enough of an incentive for them to do it - as it is, tons of good landlords are cashing out and selling up, and the only ones still turning a profit are the ones cutting corners and over-filling properties. Yes, l,have to concur, once you have paid for this certificate and that certificate, unless you were a greedy landlord with sky high rents, theres not a lot in the rental game.
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cryrst The garden of England 29 Jul 21 3.03pm | |
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Originally posted by croydon proud
Yes, l,have to concur, once you have paid for this certificate and that certificate, unless you were a greedy landlord with sky high rents, theres not a lot in the rental game. A but would be the value of the property increases year on year normally so if the mortgage, repairs and any taxes etc are covered then a majority cannot lose. If you are relying on buy to let as a business and unless you have multiple properties it's a gamble.
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croydon proud Any european country i fancy! 29 Jul 21 3.12pm | |
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Originally posted by cryrst
A but would be the value of the property increases year on year normally so if the mortgage, repairs and any taxes etc are covered then a majority cannot lose. If you are relying on buy to let as a business and unless you have multiple properties it's a gamble. Indeed they could - but I doubt any are as fair as I have been over the years. Its hard to run any business these days without council/gov certificates and updates every year, all costly, not all needed, they are coming for you if you run your own business. Thats why I have come to the conclusion you are better off on the cards with no outlay!
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PalazioVecchio south pole 29 Jul 21 5.51pm | |
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Originally posted by EverybodyDannsNow
heavy taxes on homes that are not owner occupied. so crucify holiday homes, investor homes, and buy to let. Also, heavy taxes on overseas owners....and go easy on Nigel & Sharon in the UK.
Kayla did Anfield & Old Trafford |
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cryrst The garden of England 29 Jul 21 8.18pm | |
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Originally posted by croydon proud
Indeed they could - but I doubt any are as fair as I have been over the years. Its hard to run any business these days without council/gov certificates and updates every year, all costly, not all needed, they are coming for you if you run your own business. Thats why I have come to the conclusion you are better off on the cards with no outlay! Why I am paye with holidays,sick,pension,van,uniform,tools,work,
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croydon proud Any european country i fancy! 29 Jul 21 8.49pm | |
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Originally posted by cryrst
Why I am paye with holidays,sick,pension,van,uniform,tools,work, Yes, i agree, wasn"t actually meaning you mate, i ment you as people. But you seem to have a nice number so fair play, what I ment was they are coming for you in whatever business you are in, new taxi 70k, 5% on every card job goes to the card company, certs for this and that changing every year, etc etc.
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cryrst The garden of England 29 Jul 21 9.21pm | |
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Originally posted by croydon proud
Yes, i agree, wasn"t actually meaning you mate, i ment you as people. But you seem to have a nice number so fair play, what I ment was they are coming for you in whatever business you are in, new taxi 70k, 5% on every card job goes to the card company, certs for this and that changing every year, etc etc. Tbh I do not envy the self employed. I was many years ago and felt the crash of 50% wage drop and single rate OT. I didn't have to find the work though as was employed by a n other. This was forced though due to the firm I worked for paye going South a few years before. 20p in the pound and all that from the administators. I had a great boss on my last self employed role. Being potless he took me on and loaned me a monkey no charge, payable over the next 10 weeks wages. Proper gesture of a friend I worked with paye before on that company that went south.
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croydon proud Any european country i fancy! 29 Jul 21 10.56pm | |
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Originally posted by cryrst
Tbh I do not envy the self employed. I was many years ago and felt the crash of 50% wage drop and single rate OT. I didn't have to find the work though as was employed by a n other. This was forced though due to the firm I worked for paye going South a few years before. 20p in the pound and all that from the administators. I had a great boss on my last self employed role. Being potless he took me on and loaned me a monkey no charge, payable over the next 10 weeks wages. Proper gesture of a friend I worked with paye before on that company that went south. Yes, We all need to put in to the pot, including those with off shore accounts!Do you still have that bloke who lent you the loan as a pal ?
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cryrst The garden of England 30 Jul 21 5.27am | |
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Originally posted by croydon proud
Yes, We all need to put in to the pot, including those with off shore accounts!Do you still have that bloke who lent you the loan as a pal ? He owned the firm but lost touch now. Over 30 years ago but you don't forget things like that and will always be a friend and in my thoughts; might meet again one day. Yup all should pay tax and avoidance is being more scrutinised than ever. Morally wrong but a great many do pay whether optionally or coerced.
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jeeagles 30 Jul 21 8.32am | |
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Originally posted by EverybodyDannsNow
Honestly, private landlords have already been squeezed to breaking point and if you ignore capital appreciation, it's barely profitable being a landlord in London these days - most of zone 1 or 2 you're lucky to find a 3% yield on an buy-to-let property. Factor in the cap on deposits, ban on tenant fees and the supremely tenant-friendly eviction processes, and it's barely worth it. We need to encourage good landlords to continue to provide housing, and ensure there is enough of an incentive for them to do it - as it is, tons of good landlords are cashing out and selling up, and the only ones still turning a profit are the ones cutting corners and over-filling properties. Surely if you have an asset in Zone 1 or Zone 2 the majority of the income will be based on its long term appreciation when you come to sell? Elsewhere in the country you'll get higher yields, but on a much lower value, so a much lower income, but you also wouldn't get the same level of appreciation in the assets. I have heard that sales of buy-to-let properties owned by individuals are at a record high.
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