Why I’m Quitting Buy-to-let Property Market скачать в хорошем качестве

Why I’m Quitting Buy-to-let Property Market

The latest episode of the Charles Kelly Money Tips Podcast he explores the truth behind the buy-to-let market and exactly why he is getting out of buy-to-let after 30 years. Please like and subscribe -    / @charleskellymoneytipspodca9121   My story of finding a rental property before BTL and pre-ASTs - It was worse than now. No council house building since the 1970s and the introduction of right to buy The BTL model has worked well since the 1990’s. Properties were relatively cheap Returns were good, even with higher mortgage rates With higher interest rates so you could just about break-even, but enjoy fast capital growth Now the government thinks the pendulum swung too far in favour of landlords. Tenants are unhappy about high rents and insecurity. But is that the fault of landlords or a symptom of 50 years of short-term thinking government policy? We are now living in a new socialist regime after 30 years of relatively business friendly government, which includes the Blair labour government. 30 years dealing with tenants - nothing against tenants, I just haven’t got the patience for it anymore! New threats from various BPU’s (business prevention units) Lack of social housing being built for 50 years Mass immigration from all governments since the Blair years leading to an unprecedented population explosion Swinging from unrestrictive to tighter lending Planning hold-ups leading to housing shortage Anti-landlord policy starting with Conservative Chancellor George Osbourne and his Section 24 landlord tax Renters rights bill, which was born out of a conservative policy End of section 21 no fault of evictions and a ban on so-called “back door” evictions Open end of tenancies – how is that going to work in practice? New minimum housing standards and more red tape - many councils and large housing associations would fail these standards but only private landlords will be hit Ban on Advanced rent payments, often used where tenants fail referencing or are from overseas. Even more rights for tenants Less security for property owners Ban “discrimination” Right to request adaptation of Properties in the case of disabilities Restrictions on rent increases Rent repayment orders More powers for local councils to sanction landlords New digital Landlord database, but no rouge tenant database County court backlogs, meaning that enforced evictions will take up to a year If a tenant wants to keep a pet at home, landlords will not be able to unreasonably withhold their consent. If a tenant feels you’ve made an unfair decision they can challenge it by taking their complaint to the Private Rented Sector Ombudsman or even to court. Soaring house prices means it’s difficult to get a positive yield on straightforward buy-to-let property Landlords have turned to HMO strategies, but local authorities are introducing more article 4 areas. The yields on properties in London and the Southeast have been driven down by high prices. Landlords are increasingly buying in the Midlands and the north of England. Many have adapted and move into furnished Holiday lettings in order to avoid section 24 and the end of section 21 notices. Tax changes abolishing the advantages of furnished holiday Lettings , brought in by Jeremy “Hunt” the left leaning former Chancellor under the last ‘high tax’ conservative government. I know some landlord I’ve spoken to are happy to stay in the market and feel that they can adapt to the new laws. That’s fine there’s still a profit (sorry if that’s a dirty word, but without profit there is no service) to be made and in a long-term it’s still a good investment, but not for me and thousands of other landlords anymore. As the TV Dragons say, I’m out! Am I quitting property altogether? No! Property is still a good long-term investment and will survive the idiots that run the country downwards because the markets and demand will prevail. Despite warnings of our demise, the UK will also survive the fools in power. See other videos: Labour’s Renter’s Rights Bill and the end to Sec 21 ‘no fault evictions’ -    • How Labour’s New Renters Rights Bill 2024 ...   Nigel Farage SLAMS HMO BUY-to-Let Landlords In an astonishing attack on private enterprise, right wing Farage claimed that HMOs are not only damaging communities but are increasingly being used to house illegal migrants and asylum seekers, often at the taxpayer’s expense. Watch video -    • Farage SLAMS HMOs: "Blaming Landlord for H...   Better property strategies are needed. Learn property strategies from experts There are many more money making property strategies than buy-to-let. The important thing is to get the right property education from experts who have made millions in UK property. For more information on a free “NO MONEY DOWN PROPERTY” webinar, email [email protected] #NigelFarage #HMOScandal #UKHousingCrisis #IllegalImmigrationUK #AsylumSeekersUK #HMOUK #PropertyInvesting #LandlordLife #UKPolitics #MoneyTips