adarmo Posted October 17, 2018 Share Posted October 17, 2018 https://www.theguardian.com/money/2018/oct/16/taxes-buy-to-let-landlords-rents-generation-rent-buyers Warnings by landlords that taxes on buy-to-letwould cripple the property market, driving down supply and pushing up rents, have turned out to be entirely hollow, according to research by campaign group Generation Rent. It found that since the “bombshell” introduction of taxes on buy-to-let landlords in George Osborne’s 2015 budget, rents have fallen in real terms. Quote Link to comment Share on other sites More sharing options...
Unmoderated Posted October 17, 2018 Share Posted October 17, 2018 haha, proves market rates were already being charged Quote Link to comment Share on other sites More sharing options...
BeyondAJoke Posted October 17, 2018 Share Posted October 17, 2018 It was ridiculous reading how landlords claimed they would just whack up the rent if taxes went up. As if they weren't already squeezing every last drop out of renters that they could. Let's use this good news to expedite S24. Quote Link to comment Share on other sites More sharing options...
longgone Posted October 17, 2018 Share Posted October 17, 2018 has the price of "do not use tape gone up" ? Quote Link to comment Share on other sites More sharing options...
spyguy Posted October 17, 2018 Share Posted October 17, 2018 7 hours ago, Unmoderated said: haha, proves market rates were already being charged Nope. LL hypothecated that more taxes would mean higher rents. However, it looks like the more you tax LL, the lower rents go. Crank up the taxation...... Quote Link to comment Share on other sites More sharing options...
adarmo Posted October 17, 2018 Author Share Posted October 17, 2018 18 minutes ago, spyguy said: Nope. LL hypothecated that more taxes would mean higher rents. However, it looks like the more you tax LL, the lower rents go. Crank up the taxation...... It doesn't show that. It shows that taxes can't be passed on to the tenant because they're already paying top dollar or as much as the market can bear. Ergo, cet.par market rates being charged. Quote Link to comment Share on other sites More sharing options...
msi Posted October 17, 2018 Share Posted October 17, 2018 Will this be conveniently ignored by the goons at povertylater? Quote Link to comment Share on other sites More sharing options...
Switch625 Posted October 17, 2018 Share Posted October 17, 2018 Who would have thought it? Rents were already at the maximum possible that the market could bear. Well I never! I totally believed the hollow self-interested threats of the landlords. I wonder how long it will be before they realise that they are firmly in the sites of government as a possible income source with few downsides politically speaking. Quote Link to comment Share on other sites More sharing options...
Arpeggio Posted October 17, 2018 Share Posted October 17, 2018 Incompetence and greed are probably two weaknesses banks look to exploit. Many Landlords appear have both of these. Quote Link to comment Share on other sites More sharing options...
Lord D'arcy Pew Posted October 18, 2018 Share Posted October 18, 2018 It's all about supply and demand. The landlords demand you supply them with it all. Quote Link to comment Share on other sites More sharing options...
oatbake Posted October 18, 2018 Share Posted October 18, 2018 Missed the link to this article on the Axe the Tenant Tax FB page... Quote Link to comment Share on other sites More sharing options...
dugsbody Posted October 18, 2018 Share Posted October 18, 2018 The argument was always hollow. Firstly, it only applies to BTL landlords with leverage and only those that are "amateur" in that they're not registered through a ltd company. This group do not command the market therefore they cannot set the margin and will lose out to others who the loss of tax relief will not impact and can charge lower rents. Secondly, part of the equation is the price of the asset ie. the house. New entrants who want to avoid the ltd company route will be aware (or should be) of the additional tax costs and should base their valuation of a potential property with that in mind when calculating the yield. In other words, prices of the asset can fall to maintain yields. Quote Link to comment Share on other sites More sharing options...
mrtickle Posted October 19, 2018 Share Posted October 19, 2018 7 hours ago, oatbake said: Missed the link to this article on the Axe the Tenant Tax FB page... post it!! Quote Link to comment Share on other sites More sharing options...
oatbake Posted October 19, 2018 Share Posted October 19, 2018 13 minutes ago, mrtickle said: post it!! Haha they have dropped any pretence that they are representing tenants... dissenters (tenants) just get called a troll and banned. Little more than that echo chamber that is parasite118 unfortunately. I still like to read the posts on ATTT and roll my eyes at the formulaic responses (rent increases, homelessness etc). The desperation reassures me that some of these guys are really feeling the pain and will be, like it or not, offloading their portfolios in the near future at firesale prices. Keep your powder dry ? Quote Link to comment Share on other sites More sharing options...
byron78 Posted October 19, 2018 Share Posted October 19, 2018 This is pretty much exactly the same argument that gets wheeled out whenever someone threatens to raise taxes on a group with more assets or earnings than most. "You can't make the rich pay more - they'll leave the country!" What... and take the income they were earning in the UK with them (a lot of the often being derived from land/property)? Yeah... good luck sneaking that 20000 acre chunk of Suffolk through customs... Quote Link to comment Share on other sites More sharing options...
mrtickle Posted October 19, 2018 Share Posted October 19, 2018 16 hours ago, oatbake said: Haha they have dropped any pretence that they are representing tenants... dissenters (tenants) just get called a troll and banned. [...] Keep your powder dry ? Fair enough. They haven't spotted the dissenting Ha-Has that I've been adding then, the thickos. More Ha-Has are always welcome of course folks! Quote Link to comment Share on other sites More sharing options...
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