Landlords Complain: We're Hounded By Councils

[rollover]

Buy-to-let owners complain of “a creeping plague” of costs. Trish Fowler says overzealous officials have billed her £2.89 for a single day's council tax. Britain’s swelling army of private landlords say they face “persecution” from local authorities who view them as “cash cows ripe for milking”. They complain that local authorities are applying a range of new and unfair charges, making it harder for them to let properties responsibly and for profit. The fact that there is little public sympathy for landlords, or those involved in buying to let, makes it easier for them to be subject to councils’ “stealth taxes”, they say. They push landlords to the point where letting is no longer viable, he warned. The National Landlords Association (NLA) chief executive Richard Lambert said his organisation was gathering information toward taking legal action against a number of local authorities, to fight back against the rising costs. Link

It's not the profit one would expect. Plus all the unexpected costs and expenses before the interest rates will rise.

[Mrs Bear]

'They push landlords to the point where letting is no longer viable,' he warned.

You do have to laugh (very hollow variety). Anyone would think the houses were going to disappear if they were not so nobly providing them. If they can't afford the costs, let them sell to someone who can - or to someone who just wants a home to live in.

[Bland Unsight]

"They push landlords late entrant BTL bank refinancing stooges to the point where letting is no longer viable, he warned.

What did these people think the 25% deposits were for? If there's no perception of risk (by the bank), there's no need for a deposit.

Plenty of people seem convinced that house prices won't fall. The banks do not appear to share the same opinion.

[Bland Unsight]

'They push landlords to the point where letting is no longer viable,' he warned.

You do have to laugh (very hollow variety). Anyone would think the houses were going to disappear if they were not so nobly providing them. If they can't afford the costs, let them sell to someone who can - or to someone who just wants a home to live in.

+1

[GinAndPlatonic]

'They push landlords to the point where letting is no longer viable,' he warned.

You do have to laugh (very hollow variety). Anyone would think the houses were going to disappear if they were not so nobly providing them. If they can't afford the costs, let them sell to someone who can - or to someone who just wants a home to live in.

Ohh the reality of the situation they (btl`rs) find themselves in...finally the pips are squeaking.

edit to add. Businesses go bust every week. why should they be any different, if these businesses are not viable...

Edited March 1, 2014 by GinAndPlatonic

[StainlessSteelCat]

Any BTLer should realise that if there's enough people making money from something, the authorities will find a way of get their cut.

They've had it easy for a long time tax-wise, now it's time for sheep to be sheared.

[Mrs Bear]

Any BTLer should realise that if there's enough people making money from something, the authorities will find a way of get their cut.

Particularly since so much of it is taxpayer money anyway, via HB.

[or in excess of]

" local authorities are applying a range of new and unfair charges". That`s rich coming from landlords, and the "make it up as you go" fees that letting agencies charge.

[DeepLurker]

" local authorities are applying a range of new and unfair charges". That`s rich coming from landlords, and the "make it up as you go" fees that letting agencies charge.

+1

[pokercola]

Dear god this article is like....kryptonite to the typical HPCer

I especially liked:

“I get these letters all of the time. It’s not only a nuisance, it feels like persecution. Landlords are seen as an easy target and the wider public don’t have much sympathy because they think all landlords are rich. I was brought up on a council estate and this business is my pension. I’m a responsible landlord, and I pay all my bills. But what is the reason to charge me for one or two days?”

[btl_hater]

Dear god this article is like....kryptonite to the typical HPCer

I especially liked:

“I get these letters all of the time. It’s not only a nuisance, it feels like persecution. Landlords are seen as an easy target and the wider public don’t have much sympathy because they think all landlords are rich. I was brought up on a council estate and this business is my pension. I’m a responsible landlord, and I pay all my bills. But what is the reason to charge me for one or two days?”

What a *****.

[Bland Unsight]

Businesses go bust every week. why should they be any different, if these businesses are not viable...

Balance of probabilities, I am happy to entertain the idea that post-2007, these "businesses" are designed to go bust, (from the perspective of the banks and the relevant regulatory authorities).

After the Mortgage Market Review findings were finalised regulated high-LTV, high income multiple interest only lending essentially stopped. BTL lending falls outside that regulatory framework and whilst IO BTL remains available, to the best of my knowledge, the deposits required are now larger (25%) than they were before the 2008 financial crisis (5%-15%?).

Viewed from a sufficient distance every time a second stepper buys a house and their slavebox is bought by a BTL landlord the risk associated with the mortgage that results from the fact that the house price price is so divorced from what people can afford (on a repayment basis at anything other than zombie friendly interest rates) is much reduced from the bank's point of view.

After the transaction the bank replaces the single borrower mortgaged on one property with two borrowers, and the BTLers may well own their primary private residence outright, as well as being able to put down a 25% deposit. The bank now has recourse lending backed by maybe four incomes and three properties! It's like taking candy from a baby.

[(Blizzard)]

Dear god this article is like....kryptonite to the typical HPCer

I especially liked:

“I get these letters all of the time. It’s not only a nuisance, it feels like persecution. Landlords are seen as an easy target and the wider public don’t have much sympathy because they think all landlords are rich. I was brought up on a council estate and this business is my pension. I’m a responsible landlord, and I pay all my bills. But what is the reason to charge me for one or two days?”

Persecuted? They should be chased out of the village with torches and pitchforks.

******ing parasites.

[cybernoid]

'They push landlords to the point where letting is no longer viable,' he warned.

You do have to laugh (very hollow variety). Anyone would think the houses were going to disappear if they were not so nobly providing them. If they can't afford the costs, let them sell to someone who can - or to someone who just wants a home to live in.

Yes! "he warned". On no, so renters might be able to actually buy a home.. the horror.. the horror…

What about that old chestnut that they can just raise their rents to cover the costs? You mean there's an actual market operating in relation to housing?? Affordability from earned money actually comes into it somehow!??! Someone must do … something !

[GinAndPlatonic]

Balance of probabilities, I am happy to entertain the idea that post-2007, these "businesses" are designed to go bust, (from the perspective of the banks and the relevant regulatory authorities).

After the Mortgage Market Review findings were finalised regulated high-LTV, high income multiple interest only lending essentially stopped. BTL lending falls outside that regulatory framework and whilst IO BTL remains available, to the best of my knowledge, the deposits required are now larger (25%) than they were before the 2008 financial crisis (5%-15%?).

Viewed from a sufficient distance every time a second stepper buys a house and their slavebox is bought by a BTL landlord the risk associated with the mortgage that results from the fact that the house price price is so divorced from what people can afford (on a repayment basis at anything other than zombie friendly interest rates) is much reduced from the bank's point of view.

After the transaction the bank replaces the single borrower mortgaged on one property with two borrowers, and the BTLers may well own their primary private residence outright, as well as being able to put down a 25% deposit. The bank now has recourse lending backed by maybe four incomes and three properties! It's like taking candy from a baby.

Nice post..so now the banks are going after the btl`rs. In turn doesn`t this mean that housing, really is becoming a traded commodity..Maybe I`m naive to put it this way, and wasn`t it always.! Maybe not in quite such an obvious way. The UK population is the last commodity.?

[cybernoid]

"But what is the reason to charge me for one or two days?”

Because you owe for one or two days? Are they seriously complaining about handing over 6 quid?

[Dorkins]

Imagine that, landlords having to pay council tax for periods in which they are the ones legally responsible for paying it. What is this country coming to?

[The Knimbies who say No]

The complaint seems to be centred on a council billing for a few quid; fair point, it is a waste of time but surely does not happen routinely, maybe a **** up. Most people would expect a utility company to issue a final account even if only a few quid.

Loving the continued delusional comments about BTLers being able to pass on costs arbitrarily and at will. Yeah, right.

[erat_forte]

Because you owe for one or two days? Are they seriously complaining about handing over 6 quid?

I know! It is terrible. When I go into Tesco, eve if I only choose one or two things they always insist on payment! Tis afternoon I only got one packet of bacon but they insisted I hand over £1.75 beofre I could leave the shop! It's persecution, that's what it is!

[Si1]

I know! It is terrible. When I go into Tesco, eve if I only choose one or two things they always insist on payment! Tis afternoon I only got one packet of bacon but they insisted I hand over £1.75 beofre I could leave the shop! It's persecution, that's what it is!

Not if you're a landlord, I heard the righteous landlord class get free Bacon and a complimentary BJ

[Dorkins]

I know! It is terrible. When I go into Tesco, eve if I only choose one or two things they always insist on payment! Tis afternoon I only got one packet of bacon but they insisted I hand over £1.75 beofre I could leave the shop! It's persecution, that's what it is!

Did you try telling the checkout girl that it doesn't matter anyway as you'll just pass the cost of the bacon on to your customers?

Edited March 1, 2014 by Dorkins

[Venger]

Trish Fowler and her husband, John, own 26 properties in the north Bristol area. She has found it incredible that South Gloucestershire Council has been charging landlords for council tax for just one day.

Pic of them in the Telegraph. These victims. http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/10668774/Landlords-complain-Were-hounded-by-councils.html

[Dorkins]

Because you owe for one or two days? Are they seriously complaining about handing over 6 quid?

I'm really glad the roof over somebody's head is in the hands of a person with such a reasonable sense of proportion.

[notMyName]

I received a invoice from Sheffield city council for £0.30 a few months ago. The postage probably cost twice that, and then I paid by card, which I image had some kind of charge. Sometimes I wonder why we bother.

But anyway, back on track. The BTL market shouldn't be seen as a safe place for the 'accidental landlords' to put their money, so I think that it should be treated more like a business than an investment, attracting business costs etc. It may get rid of the casual investors.

[Venger]

Probably their company; or one of them?

https://www.companiesintheuk.co.uk/director/1131425/patricia-fowler

Him previously a banker, maybe? You might need an account to have less restricted access here.

https://www.duedil.com/company/04026660/abbeywood-estates-limited/people

Seeing a few companies on duedil marked with that exclamation warning "changed credit score in the last 60/90 days. Difficult to know whether it really has any bearing though.