UK Landlord Forum / Life

I mean, it can't be a serious proposal that would ever make it through parliament....could it? What does everyone think the reaction would be?

I personally would have a fixed term tenancy that would remove the tenant before any kind of mandatory purchase rights were invoked. Why would a landlord, who pays market price for the property, pays market price for upkeep of the property, and pays tax on all income, then have to accept a below market price that was arbitrarily set by politicians?

Surely this would be disastrous for tenants who might have to move on a very regular basis if landlord did not want to accept this.

I think (and hope) this is just an attention grabbing headline that would never come to reality.

Quote from: El Porto on September 03, 2019, 01:20:15 PM
I personally would have a fixed term tenancy that would remove the tenant before any kind of mandatory purchase rights were invoked.

I reckon they'd propose to cover that off by abolishing assured shortholds - tenants would have the right to stay indefinitely, probably with some rent controls thrown in for good measure.

If Labour did get in with a workable majority at the next election, and somehow managed to get it past all the private landlords in the Commons and Lords, the upshot would be that private landlords would simply sell up and invest their capital elsewhere - it's not that great an investment as it is - and we'd be left with an even greater shortage of property to rent.

There are more "have-nots" (Tenants) than there are "haves" (Landlords) so, as policy, it would be sensible and appealing to the composite body we call Voters (which includes the haves and have-nots and Others).

Are you saying property is theft comrade?

If a tenant does not pay rent, it can take a long time and expense to the landlord to evict them and to try and regain your money.  If they become an owner of your property under this scheme, they will have to pay an admin for the mortgage, if theymiss a mortgage payment they will receive a nasty letter from the bank which could have a charge of thirty pounds, extra interest etc, all of which are very different compared with not paying or being late with their rent.  If something needs doing in their rental property they can phone the landlord or LA and demand its done at no cost to them, they don't need to take time off work as LA or landlord will be expected to be there. Once they own the property they will have to organise this and pay immediately . As an owner if they don't maintain property repairs will cost more and their property will devalue.  How many current tenants will want to do this once they realise the full implications.

I have just stopped being a landlord in the last 3 weeks, we asked LA to issue a section 21 notice to our tenant of over 3 years. We did this as we were worried about the abolishment of section 21.  We did not want to give notice but felt there was no choice.  Right to buy is another reason why we feel we made the correct decision We only owned one apartment which was our pension.

This is theft and pure cowardice for they are targeting private individuals rather than big organizations such as Bank of England which they could have tackled on low interest rate for savings, for example - to make other forms of safe investment more attractive. They could have proposed nationalisation of transport and energy - to give customers more money in their pockets, so that they could save quicker and have a deposit to buy without any help. But no, they have to go for redistribution of private property.

I hope it doesn't pass. I supported Labour all these years, even after their disappointing stance on Brexit, i.e. them  not properly supporting the other [just under] half who voted to Remain. But this is the last straw for me, I won't vote for them if they insist on compulsory element on this proposal.
The way I see it, the housing crisis is not a problem of my making. I was working for a measly salary in civil service for many years and were paying taxes which the governments, including Labour, misspent instead of building more affordable homes. And now they want to shaft me, as if my one rental property makes me some sort of capitalist beast?!

Yep,another Labour voter here who will be voting Lib.Dem.To think I used to really admire Corbyn for his stance on hunting and animal rights issues.

If manifesto promises were ever meant to be delivered on we'd all be living in a better country by now.. they all lie to snatch votes and I seriously doubt that any Government will rewrite laws that violate our own rights as Landlords to own property and retain ownership in the event of no desire to sell.. unless, that is, they intend to drive a High Speed Rail network or a new by-pass through the gardens..

I've no intention of selling up, but if I did it would be on my terms.. I don't see how this could ever become a legal threat to any of us but I stand to be corrected.. and probably will be.