Landlords getting £140m in benefits

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    Landlords getting £140m in benefits

    Interesting article on the beeb website:

    http://news.bbc.co.uk/1/hi/northern_ireland/6918588.stm

    Interesting to note the comment asking for a review of how rents are set!!! Looks like a knee jerk reaction to me without those knowing the facts.
    Liability statement. My liability to you is not to exceed the amount you are paying for my recommendations or advice.

    I see a bright new future, where chickens can cross the road with no fear of having their motives questioned

    #2
    Originally posted by Wickerman View Post
    Interesting article on the beeb website:

    http://news.bbc.co.uk/1/hi/northern_ireland/6918588.stm

    Interesting to note the comment asking for a review of how rents are set!!! Looks like a knee jerk reaction to me without those knowing the facts.
    They haven't thought that through very well have they.

    If they push it too much, private LL will just stop accepting HB tenants and then where will the people live?

    Knee jerk reaction is an understatment I think!!

    Comment


      #3
      Private Landlords

      There's a certain school of thought amoungst a big chunk or our population which automatically thinks - always has done and probably always will do - "private landlord bad, local authority landlord good!"
      What they fail to realise (and probably never will, because they have a mindset that thinks big beauracratic "government" will solve all our problems and is responsiblbe for everything) is that private landlords provide a vital, cost effective and efficient service in every community.
      Yes, local authorities could house everyone, but where does the money come from to build thousands of new homes?
      Lets increase the rates by 100% - that might do it?
      But would they really spend your money wisely? Do you really believe that if all that money were raised in taxes it would actually be spent on providing cost effective and efficiently managed accommodation?
      Surveys of tenants show that satisfaction levels of private tenants is always significantly higher that satisfaction levels of local authority tenants.
      Council workmen work 9 to 5 x 5 - private landlords work 24/7 - enough said?

      Comment


        #4
        Originally posted by Editor View Post
        There's a certain school of thought amoungst a big chunk or our population which automatically thinks - always has done and probably always will do - "private landlord bad, local authority landlord good!"
        What they fail to realise (and probably never will, because they have a mindset that thinks big beauracratic "government" will solve all our problems and is responsiblbe for everything) is that private landlords provide a vital, cost effective and efficient service in every community.
        Yes, local authorities could house everyone, but where does the money come from to build thousands of new homes?
        Lets increase the rates by 100% - that might do it?
        But would they really spend your money wisely? Do you really believe that if all that money were raised in taxes it would actually be spent on providing cost effective and efficiently managed accommodation?
        Surveys of tenants show that satisfaction levels of private tenants is always significantly higher that satisfaction levels of local authority tenants.
        Council workmen work 9 to 5 x 5 - private landlords work 24/7 - enough said?
        Very well put.

        But watch this space, the powers that be see private LL's as an easy touch, nothing they seem to love more than creating red tape and taxing the life out of us.
        Just have a look at the current situation with all these private equity companies, the government issue tax breaks to encourage investment, then pull up all the people that make the most of the rules and question them on how come they are so successful and why are they not paying more tax.

        I think there may well come a time when enough is enough ( not yet ) and I will flog the lot and be done with it.

        Comment


          #5
          GOVERNMENT HEALTH WARNING: I am a woman and am therefore prone to episodes of PMT... if you don't like what I have to say you can jolly well put it in your pipe and SMOKE IT!!

          Oh and on a serious note... I am NOT a Legal person and therefore anything I post could be complete and utter drivel... but its what I have learned in the University called Life!

          Comment


            #6
            If the tenant is unable to meet any shortfall in their housing benefit to make up the market rent as is often the case then some local authorities do have an avenue where tenants can apply for an additional supplement to cover this; I was only listening yesterday at a lettings advisory group to a thoughful chap from Leicester City Council who have such a facility.

            Also one of the other LAs in the county has an excellent scheme whereby HB tenants who get into arrears in private housing must pay off the arrears before thye are considered for council housing. If the private landlord subsequently evicts them via a S.8 Ground 8 Notice then social services have to take on the risk if children under 16 are involved, as the LA don't want to know, and have no interest in helping them!
            The advice I give should not be construed as a definitive answer, and is without prejudice or liability. You are advised to consult a specialist solicitor or other person of equal legal standing.

            Comment


              #7
              The councils should build more flats instead. As a tax payer I'm not happy that council tenants are being housed in buy to lets. I want value for tax money. Landlords should cater for the young professional types, students etc not council tenants. In the long run this must be costing us a fortune not even the social deterioration this has on good areas.

              Comment


                #8
                Originally posted by Brit1234 View Post
                young professional types
                arrrghhhh

                Can we put this to bed once and for all, these people simply do not exist in the way you wish them to

                You are talking about any old office monkey in a suit, the factory workers of the past if you will

                Professionals are airline pilots, lawyers, doctors etc, and I can't imagine there's enough to go around all your BTL flats

                More bad Buy to let news : HM Revenue and Customs estimate 750,000 BTLers are not declaring their income

                You do realise you need to tell the taxman don't you? even if you're not making a profit?

                oh dear

                Comment


                  #9
                  Originally posted by nick.. View Post

                  You do realise you need to tell the taxman don't you? even if you're not making a profit?

                  oh dear
                  Certainly do. I've just paid my accountant a tidy amount for him to put down in black and white the loss I made last year from having a tenant who was quite happy to live in my property without paying rent!

                  Comment


                    #10
                    Originally posted by DianeB View Post
                    Certainly do. I've just paid my accountant a tidy amount for him to put down in black and white the loss I made last year from having a tenant who was quite happy to live in my property without paying rent!
                    On some things I am very knowledgeable, on other things I am stupid. Trouble is, sometimes I discover that the former is the latter or vice versa, and I don't know this until later - maybe even much later. Because of the number of posts I have done, I am now a Senior Member. However, read anything I write with the above in mind.

                    Comment


                      #11
                      That will easily be recouped from the BTLers not declaring incomes or buying on OO mortgages

                      Comment


                        #12
                        Originally posted by Wickerman
                        We will pay CGT though.
                        Wickerman, I have almost the same situation as you, however you won't have to pay CGT if you NEVER sell !!!!!

                        Pass the properties onto your kids and then the only issue will be IHT, no CGT to worry about.

                        Comment

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