Btl Scum Regrouping And On The Offensive. -- Merged

[rantnrave]

1 hour ago, oatbake said:

Nice to see a mention for HPC on an EA website

[thewig]

campaign "Axe the DEBTjunkie tax" incoming... ??

[Guest]

On 23/10/2018 at 19:14, Bear Hug said:

That thread just keeps on giving.  I am not sure if I am missing something here but it really looks like this guy is just asking £100 each from poverty118 muppets so he can troll anyone remotely anti-BTL on twitter.

And he is pretending that it's some sort of campaign and there are some sort of costs that he is not charging yet.

And he is calling himself a CEO!!! 

Absolutely brilliant!  He is on our side.  

Fungus, Dross, Busta, this new guy..  What a team!!

Think you could be right - he's a closet HPCer. Now trying to crash the Sheffield & Croydon housing markets by advising his 61 followers to 'sell, sell, sell':

 

 

 

[spyguy]

1 hour ago, highYield said:

Think you could be right - he's a closet HPCer. Now trying to crash the Sheffield & Croydon housing markets by advising his 61 followers to 'sell, sell, sell':

 

 

 

'Invest overseas'

Ah but theyd need mactualy money to do that rather than bank leverage.

And most oversea countries have much much much stricter laws on landlording.

[Man of Kent]

If ever you wanted proof that landlords aren't proper business people, just look at how they're queuing up to give a hundred quid each to Sweeney no questions answered.

[Dyson Fury]

2 hours ago, Man of Kent said:

If ever you wanted proof that landlords aren't proper business people, just look at how they're queuing up to give a hundred quid each to Sweeney no questions answered.

To be fair, quite a number of them aren't:

https://www.property118.com/final-call-members/#comment-107315

Quote

simply to call yourself a union and say, give us your money so we can save the day is no where near good enough
set up a proper union with proper rules and safeguards and a proper constitution and i will happily join
but until such time this is all just hot air

Quote

I would not feel comfortable joining this organisation because I have been following the twitter feed, @landlords_ltd which I'm sorry to say is cringe-worthy and very party political

Quote

twice I have tried to email to pledge my £100, and each time it wont complete, says the email address is not recognised or something similar???

Quote

Im very interested and willing to join once a bit more information is available. Do you have a website yet, I can't find one?

I shall watch with interest how this develops.

[Dyson Fury]

https://twitter.com/landlords_ltd/status/1056822488800378880

Quote

This is what this body which represents landlords is about. Flogging courses on portable appliances . The Alliance does not flog courses.

No, it flogs dead horses....

[Dyson Fury]

https://twitter.com/landlords_ltd/status/1056907579706744832

Quote

New members flock to the Alliance as existing organisations fail to represent their members as we do

like sheep?

[dragging boot straps]

Random anecdote probably best here: I speak to a lot of professionals and paper tiger rich as part of my work i.e the demographic most likely to be a leveraged amateur landlord. 

In the last week I've spoken to two people who have blurted out that they've had a nasty tax bill shock that they have to pay in January. End result is they are now selling the property. 

I've taken great delight in saying instantly "oh yes section 24, I saw that on the horizon a couple of years ago and it looked to me like the government wanted amateur landlords out of the market so I sold my BTLs". 

I've never owned any but love rubbing the salt in. Absolute amateurs to not be aware of something like that. Can't wait to watch the market crash. 

[Man of Kent]

12 hours ago, Dyson Fury said:

To be fair, quite a number of them aren't:

https://www.property118.com/final-call-members/#comment-107315

I shall watch with interest how this develops.

They've taken down quite a few of the critical comments, too. But there are still plenty of them willing to sign up. A fool and his money...

[oatbake]

51 minutes ago, Man of Kent said:

They've taken down quite a few of the critical comments, too. But there are still plenty of them willing to sign up. A fool and his money...

That Twitter account is an early Christmas present to any journalist who wants to do an Anti-BTL article. It sounds like an official organisation, if you overlook the spelling, punctuation and grammar. Selective quoting would not paint landlords in a good light!

Edited November 2, 2018 by oatbake
Spelling #ironic

[Man of Kent]

Yes, exactly. If we couldn't identify this guy we'd be forgiven for thinking he was some kind of poe.

[Pop321]

2 hours ago, dragging boot straps said:

Random anecdote probably best here: I speak to a lot of professionals and paper tiger rich as part of my work i.e the demographic most likely to be a leveraged amateur landlord. 

In the last week I've spoken to two people who have blurted out that they've had a nasty tax bill shock that they have to pay in January. End result is they are now selling the property. 

I've taken great delight in saying instantly "oh yes section 24, I saw that on the horizon a couple of years ago and it looked to me like the government wanted amateur landlords out of the market so I sold my BTLs". 

I've never owned any but love rubbing the salt in. Absolute amateurs to not be aware of something like that. Can't wait to watch the market crash. 

I have seen a few landlords who are starting to panic. Low rates and phasing of S24 mean it’s a slow burn and they can manage a a while longer but it is sinking in. So the panic is there....but the urgency not quite. 

I know 2 with low end, non appreciated houses eg Newcastle, Stoke can’t sell up because they have MEW’d so have buried their heads for now...but when rates creep up these are the ones who could set the market and drive prices down. 

Those with big CGT gains are more slightly more bullish about their own prospects but they are seeing they need to sell in the near future. 

I know one guy who has no debt and half a dozen well positioned houses.....old money, and he also has a varied range of investments (equities, antiques, gold) not just property. Any extensive knowledge of world markets, economics, demographics and politics.  He thinks the leveraged BTL’ers are muppets and is waiting for a 50% drop to maybe buy something. 

Something else I am definitely seeing....’putting up rents’ isn’t working. If it’s a £750 house marketed for £800 pcm then it just doesn’t let. Also standards are rising....low end one bed flats need to be nicely done. Old kitchens and bathrooms are staying on the market for months regardless of price (well, unless they offer a 30% reduction).  It’s not about super quality but it is about clean, modern and nicely presented places. Woodchip and 1980’s kitchens won’t cut it anymore....even at the bottom end. 

S24 is well designed....it will have impact and if rates creep up then we will see some decent falls. ?

[disenfranchised]

Did we have this one?

https://www.telegraph.co.uk/money/consumer-affairs/chancellor-must-cut-absurd-property-taxes-solve-housing-crisis/

Chairman of the Scumlordz striking back through the Torygraph

[oatbake]

1 minute ago, disenfranchised said:

Did we have this one?

https://www.telegraph.co.uk/money/consumer-affairs/chancellor-must-cut-absurd-property-taxes-solve-housing-crisis/

Chairman of the Scumlordz striking back through the Torygraph

Haha, I love the idea that more of the same is what we need to fix the housing crisis. 10 out of 10 for comedy ?

Meanwhile, the next ramping up of S24 is on the way and the much-anticipated January 2019 tax bills are being readied! 

The more these guys ignore the elephant in the room, the worse they will fare and the harder any correction will be when it comes. We are already seeing the beginnings of a firesale...

[spyguy]

https://www.ft.com/content/4f180ee8-de97-11e8-9f04-38d397e6661c

US job market and wages pretty much on fire.

That stupid Canuck had a chance to move roughly with the FED.

Declined it - for Brexit, or not for Brexit, too much snow, too much sun.

Idiot.

BoE is now far behind, so rather than go for sveral small icnrment,s wich should have started last year. hes going to have to put up BoE rates in large chunks.

Looks like its not only Brown, Gdiots rep for economic mamgement that will be burned in the 2007 fall out.

 

[spyguy]

1 hour ago, disenfranchised said:

Did we have this one?

https://www.telegraph.co.uk/money/consumer-affairs/chancellor-must-cut-absurd-property-taxes-solve-housing-crisis/

Chairman of the Scumlordz striking back through the Torygraph

Eridicating smallpox was a good thing.

So is getting rid of IO BTL loons.

 

[mrtickle]

11 hours ago, dragging boot straps said:

Random anecdote probably best here: I speak to a lot of professionals and paper tiger rich as part of my work i.e the demographic most likely to be a leveraged amateur landlord. 

In the last week I've spoken to two people who have blurted out that they've had a nasty tax bill shock that they have to pay in January. End result is they are now selling the property. 

I've taken great delight in saying instantly "oh yes section 24, I saw that on the horizon a couple of years ago and it looked to me like the government wanted amateur landlords out of the market so I sold my BTLs". 

I've never owned any but love rubbing the salt in. Absolute amateurs to not be aware of something like that. Can't wait to watch the market crash. 

Brilliant! I'd shake you by the hand if I could! Please continue with everyone else if you get the chance!

If you want to push it "yes, it was announced in 2015, so what do you mean 'it was a shock'?"

 

this doesn't look so good:

https://www.propertytribes.com/selective-licensing-scheme-overturned-t-127637173.html

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iHowz have been in dispute with Brighton & Hove City Council (BHCC) regarding their proposed Selective Licensing scheme (see background – below).

As part of the process, BHCC had to apply to the Secretary of State for Housing, Communities and Local Government (SoS) to obtain his confirmation for the scheme.

The SoS gave confirmation to BHCC on September 10^th 2018, but iHowz objected and wrote to both BHCC and the SoS stating their reasons why this confirmation was unlawful.

After appropriate thought and consideration on October 31^st 2018 the SoS has notified iHowz that he has now withdrawn his confirmation and has agreed to reconsider the matter.  This will also require BHCC to re-consider their position.

 

[This time]

I wonder what proportion of people don't get around to doing their self assessment until the 31st of January. What proportion of them just won't have the funds available to pay a bill of thousands when they're expecting hundreds?

[mrtickle]

1 minute ago, This time said:

I wonder what proportion of people don't get around to doing their self assessment until the 31st of January. What proportion of them just won't have the funds available to pay a bill of thousands when they're expecting hundreds?

Good point. "Money Box" on BBC Radio 4 often covers this, and the deadline, when is the latest you can do it by paper (which is an earlier deadline than online) - along with warnings that the system is going to be slow on the last few days and people shouldn't leave it too late.

If someone really does only find out right at the end of Jan, there's no time to even get through to anyone for help or advice. It's "show HMRC the money" time!

[Confusion of VIs]

31 minutes ago, This time said:

I wonder what proportion of people don't get around to doing their self assessment until the 31st of January. What proportion of them just won't have the funds available to pay a bill of thousands when they're expecting hundreds?

I wonder what proportion will adjust their return to make the problem go away.

[mrtickle]

4 hours ago, Confusion of VIs said:

I wonder what proportion will adjust their return to make the problem go away.

If they do that (for year 1 of tapering, 25%) they'll be sealing their fate for next year (year 2, 50%).

If they massage the numbers again for year 2, it will be obvious what they did the first time for year 1, and they will have provided the evidence HMRC need for huge fines etc. Same with years 3 and 4.

There are so many beautiful things about section 24, and this is one more of them!

Edited November 3, 2018 by mrtickle

[wish I could afford one]

On 01/11/2018 at 16:56, spyguy said:

'Invest overseas'

Ah but theyd need mactualy money to do that rather than bank leverage.

And most oversea countries have much much much stricter laws on landlording.

I also love the 'invest overseas' comment.  Firstly, buying housing with huge amounts of debt is not an investment.  Buying a home 100% with cash could be considered an investment.  Instead, it's a  leveraged gamble on interest rate direction and government policy.  Those that got in early have ended up on black.  The question is will the current lot end up on black or red.  Secondly, how would they 'buy' overseas.  Who's going to give them the debt?

[wish I could afford one]

Why are they so against licensing?  Licensing is just about ensuring minimum standards are met and as professional business people surely they want to protect their investment by keeping their assets in a condition far above the minimum.  I know in the business I work planned predictable maintenance is essential from a business continuity perspective.

[Dorkins]

1 hour ago, wish I could afford one said:

Why are they so against licensing?

They've become accustomed to operating in a total Wild West environment - little/no tax, minimal accountability to either the government or tenants for standard of service. If all else fails just S21 and get a new lot in who don't know what the problems with the property are and will have to put up with it for at least a year or two as they won't want to move again so soon.

Twice now I've moved into private rentals to find that the boiler was only semi-functional in a way that wasn't detected just by running the hot tap during the viewing e.g. running for a bit but then cutting out despite the hot tap still being open. Clearly in both cases the previous tenants would have known about this but for whatever reason couldn't be bothered to chase the landlords to get it fixed. In both cases it took huge amounts of chasing from our end to get the landlords to have the necessary repairs done - explains why the previous tenants hadn't bothered.

Our current landlord is a classic example of the good ol' British BTLer, every time he says he's going to get a quote to get some work done I mentally roll my eyes as I know perfectly well by now that he will sit back in his retirement home >200 miles away in SW England and do absolutely nothing.