x
By using this website, you agree to our use of cookies to enhance your experience.
STAY CONNECTED!
    
newsletter-button

Ray's  Personal Profile View my company profile

icon
Ray Reddington
Sole Trader
1832  Profile Views

About Me

Don't follow the crowd.. I think about the issue from both angles

my expertise in the industry

over 30 years expertise

Ray's Recent Activity

Ray Reddington
This is a brilliant case of comparing apples with oranges. The issue raised by the government is that particularly in two areas, the Lake District and Cornwall, housing shortages have been caused by people renting out their homes as holiday lets with a significantly reduced tax liability over long term Landlords Having empty homes in Wales, or under used second homes is not justification for allowing holiday lets to attract less tax liability .Calling for other types of property to be taxed and not their own is churlish at best Should this quote not read. "it makes more sense to tax these vacant buildings or underused second homes, or short term holiday lets. A tax such as his would also encourage people to either sell holiday lets, empty second homes or let them." The financial contribution or otherwise that holiday lets industry in terms of contribution and employment it makes to the economy is irrelevant. This proposal simply is an introduction of a tax system which is already in place in the private rental sector and has been for a number of years. In the article, they were certainly no complaints about the current tax burden felt by these landlords unlike those who operate in the long-term private sector and who have seen their tax burden and mortgage cost steadily increase over a number of years. That is without mentioning the cost of compliance to every increasing regulation within the private rental sector that isn’t applied to the holiday let business Perhaps what might be equitable would be for the short-term holiday business to lobby the government to allow the same tax breaks and reduced compliance to long-term landlords as they enjoy. This would make it more attractive to rent property on a long-term basis. Using the argument that the holiday let business contributes £27.7 billion allegedly to the economy and that there are already 100,000 empty properties is no justification for the government not introducing a tax in line with the private rental sector.

From: Ray Reddington 05 March 2024 05:45 AM

Ray Reddington
Well if arrears are increasing it shows that rate increases are doing what they intended to do.. cut spending and force suppliers to decrease prices. and take out the money from the above inflation rate wage settlements. The positive from this news is that is a cut in base rate will happen possibly sooner.

From: Ray Reddington 09 February 2024 08:10 AM

Ray Reddington
This is news?.... Would have thought most agents would by now be aware of the proposed changes within this Bill. Thank you for the London Update. Often wondered what was happening in the centre of the Universe

From: Ray Reddington 01 June 2023 06:53 AM

Ray Reddington
Never take too much store by such articles but fact checking may have helped. Various sources including the respected "The Motley Fool' website state an average return of 9.63% over a ten year period. for a Stocks & Share Isa ISA returns are tax free and far more accessible. It won't also require additional investment to make that return unlike a property where repairs and maintenance are required. After all, you can't sell 2 doors and a window when you need quick cash.

From: Ray Reddington 23 February 2022 06:49 AM

Ray Reddington
The point that you have failed to grasp is that HYBR have the Landlord as the Client. It is the Landlord that signs the Terms of Business (Hopefully) and pays for the service. Legally it is the best interest of the Landlord that should be paramount at all times. I would respectfully suggest that established agents act in this way for sound reason.

From: Ray Reddington 26 November 2021 22:44 PM

Ray Reddington
It is not that Agents put Landlords on a. pedestal. It's how the Law of Agency works. In short, an agent can't serve two masters. As Landlords provide the revenue source and tenants do not, it would seem to make sense to be landlord centric. Thats not to say Agents are not fair to tenants, and you might be surprised how many times Agents have to remind Landlords of their obligations. Never had an issue when I worked in Student lets in Bristol ; far from it. Like Matthew above, never experienced any toxicity. Your argument might hold more water had you declared you work(ed) as a developer for HYBR!

From: Ray Reddington 26 November 2021 10:21 AM

Ray Reddington
What a novel idea. Matching Students with Landlords. So much easier attending an event where too many Students all want he same house when they "could be having fun" Should go well with no listings yet on their website for 2022 and 115 rooms for 2021. Looking at their website, they look like a normal student lettings agency that has an extensive menu of charges. If it walks like a duck, talks like a duck......

From: Ray Reddington 26 November 2021 08:09 AM

Ray Reddington
This is a well intentioned Petition that will undoubtedly receive support from Private Landlords. It must however be set to fail for a number of reasons; the argument is flawed. The issue is not the rating but how the properties are assessed when for example, heating is taken into account. Gas central heating is set to removed from new build in 2025 and yet it helps a property achieve a higher rating than modern electric convector heaters. Asking the Government to not to seek an improved rating should not be the issue. By this petition ; 1. You are in effect asking the Government not to improve the "Perceived improvement " to the housing stock in terms of energy efficiency 2. There will be little support in the House from Labour not to improve the "Lot" of the tenant whose viewpoint will ably be supported by Shelter & Generation Rent. 3. The Government are equally committed to helping the tenant over the Landlord as seen by the support of the removal of Section 21 Notices and its lack of support for Landlords during the pandemic. 4. Band C is just over the mid point of the total banding. Leaving Band E (the 5th lowest banding from 7) as the standard could not be seen as reasonable. You can't legally buy an electrical appliance with an energy efficiency rating of C, 5. The Government in November 21 is hosting the UN Conference on Climate change. Can not see them deferring a measure to delay the reduction of carbon emissions. 6. For existing tenancies, the measures do not take effect until 2028. A potential 7 years away. So worst case scenario, new tenant in 2024 and still another 4 years to implement. Fair notice Perhaps, it would be better to swim with the tide, but on the Landlords terms rather than the Governments.

From: Ray Reddington 08 February 2021 16:45 PM

Ray Reddington

From: Ray Reddington 07 December 2020 16:31 PM

Ray Reddington
i don't disagree that the effects of Furlough, poor job security will take its toll. I struggle with that fact that this press release one month later gives such a less positive impression of the market last from last month. It was clear to all in April , that furlough especially for those employed in lower paid employment was set to continue for some months hence, possibly ending in redundancy.

From: Ray Reddington 31 May 2020 16:15 PM

Ray Reddington
Please help us... we want the penny and the bun Despite pleading to reopen the estate agency and lettings market , we didn't realise that we don't have the money to pay our staff? Despite 1. Countrywide pleading with the Government to re-open because it supported so many other people particularly tradesman 2. Rightmove & Zoopla producing figures showing demand increasing by up to 139 % on the first morning and Zoopla still claiming demand up 88% last week 3. Buyer sentiment was around 94% but today whoops 59% that still want to proceed 3. Zoopla claiming 373,000 of transaction worth £82Bn. Government estimate 450,000 transactions 4. Anectdotal evidence of agents saying they were agreeing lots of sales , phones were ringing, people clamouring for viewings 5. And of course, Russell Quirke saying prices won't be affected by any recession With so much positive fact driven news, why wouldn't any agent want to be back at work ??? That would be my answer if I was Rishi Sunak.

From: Ray Reddington 29 May 2020 17:50 PM

Ray Reddington
Don't understand how in April Chestertons : boast "Nearly 800 properties brought to market during lockdown" with the headline "Chestertons does thousands of virtual viewings and agrees hundreds of new tenancies' ( 23 April ) and now they are saying there is a reduced appetite from renters in the London Market after stating on 04 May 20 they were bringing out all of their staff from furlough" They now say 'Existing tenants on furlough or worried about their future income are delaying committing to new leases as they consider cheaper accommodation options, including moving back with family" That seems to imply that the hundreds who agreed tenancies in April didn't realise like the rest of us that the lockdown was going to last more than a month and are surprised they've not returned to work. What do you believe...?

From: Ray Reddington 29 May 2020 17:33 PM

Ray Reddington
Taking a payment holiday is not good business sense at all; it is a last resort. Not sure why he assumes there will be difficulty in securing tenants with a good credit history and payment record. They boast on their website created in 2020, "Our rent collection track record boasts a staggering 99% of timely rents. That's 10 times better than the industry standard." Clearly the need to promote rental payment plans would suggest they have more of a problem. The company having only been set up 2 years ago and based from home, not sure this article is anymore than a bad sales pitch for the company.

From: Ray Reddington 21 May 2020 02:51 AM

Breaking News
MovePal MovePal MovePal