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Additional Details
hi - just to add, the interest ... |
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bigdaddy_fc | What should be done about buy-to-let owners? |
This was inspired by a question asked just a little while ago. What has gone wrong where houses are being used to make money out of by people who clearly already have enough? Since when did houses stop being for families to live in and enjoy and become an 'investment' for rich people? Should we raises taxes on buy-to-let houses? Force the owners to pay the council tax instead of the people renting it (this is my prefered one although they would just pass the bill on)? Opinions/solutions on this subject would be greatly appreciated. If you disagree please state whether you are a buy to let/second home owner, if you don't i will assume you are.
Additional Details
Thank you for your comments so far. On reflection i should have added that i live in Somerset on the edge of both Dorset and Devon where second home owners are sending prices through the roof and causing a shortage of houses. I'm not talking city renting. My apologies, i forget no-body knows where i live. |
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Anti theist
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The credit crunch is sorting them out.
Many people have remortgaged their houses to buy "Buy to let" properties.
As house prices are now falling these people are left with negative equity on these properties and are in real financial trouble. |
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BELLISBETULACAS
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people that are buying to let are pushing house prises up and that why first time buyer are having a hard time there,'s a tax insentive buying to let even though they have to pay taxes on there investment there are still benefit like getting tax reduction on doing repairs to the building as that is classed bussiness expences and charging tenant as much as they can get away with if everybody was allowed a hundred percent morage over 30 years then more people would be able to get on the housing market and there should be some control on what people are allowed to charge for rent as it's very tough on the low paid |
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Jean D
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Second/third home owners are the ones that kill me.
Down here in Cornwall,young people cannot get a house.
Why? They have been bought by people from other counties as holiday homes. Most of them are empty for at least 10 months of the year.Plus the prices are astronomical. Nothing down here for less than £200k. |
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paul
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More regulation. There is a "Decent Homes Standard" for social housing: it does not apply to private landlords. And it would be a good idea if "Right to Buy" were extended to private tenants but not to housing association tenants. Most buy-to-let owners are just interested in making a few bucks rather than in providing housing to those who need it. |
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Veronica Alicia
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Owners renting out properties isn't a recent phenomenon - pre-1960's very few people could afford to move into their own houses, particularly newly-weds, who either lived with parents or rented.
To be able to rent a property, there have always been people who have seen owning to let as an investment.
My parents married in 1929 and bought their first house, in which we had been living as a rented property, in the 50's; when I married in 1959 we were one couple in thousands in Bristol who rented a flat for 4 years while we struggled to save for a deposit.
My Gt. grandparents seem to have moved from one rented property to another almost on an annual basis.
Women couldn't take out a mortgage as recently as the early 60's, anyway, so they were always forced to rent or find a man who would stand as guarantor.
Without rented properties, thousands of people would be homeless even now, and the landlords would have invested their money in stocks and shares.
Apart from our house (mortgage paid since we are both in our 70's) we have a small boat which we do use as a Country cottage for ourselves. |
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Away With The Fairies
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Isn't this the whole point of democracy and capitalism? |
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Lesley S
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the problem with increaing rates/tax etc for buy to let owners is that all they do is force rents up to cover the costs.
What we need is more social housing, allowing councils to sell social housing was the biggest crime of the 1980's. We are suffering for this now by leaving low income families at the mercy of private landlords.
I also think that council tax deductions for single professional people living in five bedroom houses is wrong. If the tax is too high downsize. |
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Happy
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Interesting question. Housing/property has always been an investment, landlords have to declare the rent as unearned income and do pay tax. If they don't buy the houses to rent where will people find homes to rent? local council certainly don't provide them anymore. Council tax is to pay for the services the residents use so I don't see why the landlord should pay and as you say they would pass it on anyway. Maggie Thatcher with her right to buy has a lot to answer for. The government/local councils need to somehow get hold of all the empty homes and rent them at FAIR rents |
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Blondie
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I don't know why you're getting so agitated by it? To me this is clearly a jealously issue, if you had the opportunity to make more money through whatever avenue that might be, would you not take it?
I don't own a second property although both myself and my husband have considered it but not at this present time due to the slump in the market.
Secondly rental properties help a lot of people in that not everyone can afford a mortgage at this moment in time for whatever reason that might be, and also rent cannot be charged in excess of the comparibles in the area.
I used to work as a letting coordinator and I don't recall any tenants have such issues.
Nobody is forcing you to rent a house so why concern yourself with it. Have you not noticed that various businesses extort money out people on a daily basis? That's life and money will be made whether you agree with it or not. Sorry to be harsh but that's the truth in it. |
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susie03
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I am NOT a buy to let owner. However I see nothing wrong in the scheme. Until this became common most rental properties were owned by a few very rich landlords and accommodation standards for tenants were generally low. Individuals owning just one or two properties tend to maintain them in far better condition and are usually more caring landlords.
So as a tenant you either pay your money to a muliti-millionaire corporation or an individual or somewhere in between, either way you wouldn't get it for free!
There is also no economic reason to suggest that buy-to-let sales have reduced availability for home-buyers. |
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ascoile
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Banks and building societies make money out of people buying houses.
If you make it difficult for people to let out houses, they will just invest their money elsewhere and there will be less property to rent. That disadvantages those who need to rent.
I am not a landlord. |
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takanoa
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i am a buy to let owner. i believe that we are providing a service for people who either cant afford or dont want to pay large deposits for a house and mortgage. Especially in this current economic climate i think we are very much required. As people cant get mortgaes of their own, they can rent of people like me. I provide excellent service. I sort any problems swiftly. i have a good repore with my tenant and they respect my house. I have had tenant who only want to live in the area for a small amount of time fo a 6 month contract is perfect for them instead of having to buy a house!
i think your opinion is fairly onesided and portrays us as money grabbing greedy pigs! i make hardly any money out of my tenany and bourght the house for investment purposes only. i also like having the option of moving in if i need to.
....im done. |
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Knownow't
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Yes I am, but they are holiday cottages.....but no doubt you will tar us all with the same brush...to put things into perspective....the houses I bought were seven years old and had been on the market for that length of time at a cheap price and the locals were not interested. I bought them and have spent several thousands of pounds improving them....so I have not yet made a profit....I pay Business rates, a mortgage, high insurance rates, employ local people to do the management, employ local businesses to do the maintenance improvements...and Capital gains tax when I sell....they were bought as an investment...as most are....many people now mistrust the Pension schemes available and prefer to invest in property, although the present credit crunch is hurting....I am not rich...I count myself as prudent, as rather than piss my money against the wall or on Sky TV or holidays, I invested......now it is my free will what I do with my money, as it is with you.
Edit
As for Jean D's remark...it always amazes me that the purchasers are always blamed...if local people in pretty villages wanted to locals to buy them, why not sell them to a local at 100k below market value....do they? No....they want the best money they can....so don't just blame the incomers...those selling the houses must take a proportion of the blame
Further Edit
Big Daddy, my comment above applies to you then...when you sell, will you sell to a local at a low price so they can live in the village they have lived in all their lives...or will you say, 'Sod it' and grab the filthy money.....now ponder on that whilst you are blaming the purchasers....they dont fix the prices, the sellers do. |
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aria
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This is ridiculous. Hwo jealous are people?
I agree with blondie. Some people make money, some people can't make money and they are mad towards the people that make it.
Get a job! |
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