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G romit

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my expertise in the industry

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...this what Shelter, Generation Rent, ACORN. et al have been campaigning for and lobbying Government for the last 10 years or more. The increasing regulation demanded and extea taxes just increase the cost of providing properties to rent. Those costs have to be paid out of rents received, meaning increased costs result in higher rents. Classic case of be careful what you wish for. And still they push for more regulation and higher costs for Landlords e.g. abolition of Sec.21 Notices (errobeously named "no fault" evictions) which will increase eviction costs.

From: G romit 22 November 2021 07:51 AM

No mention of the fact that the Government effectively reduced the number of pet friendly properties by restricting Landlords from taking a larger deposit to cover possible damage by pets, ubnder the Tenant Fees Act.

From: G romit 21 October 2021 10:58 AM

Tory proposal " well we introduced legislation that f***ed up the long term letting industry, so lets introduce more legislation that'll f*** up the tourist industry, and while we're at it let's introduce more legislation (aka abolishing Sec.21) to f*** up the rental market even more".

From: G romit 04 August 2021 07:25 AM

Unbelievable. The Tory have spent the last 6 years beinging in anti-Landlord rules, regulations and taxes (with even more in the pipeline like abolishing Sec.21) driving Landlords out of the PRS and then express surprise when there's no properties to rent! @AnthonyMangnal1

From: G romit 04 August 2021 02:17 AM

The Government should lead by example and show some consideration and fairness to Landlords

From: G romit 13 November 2020 20:40 PM

Councils are just driving more and more good Landlords out of the PRS. Evicted Tenants then are made homeless and is causing massive inceeased costs to Councils to provide temporary accommodation at 3 or 4 times the cost in the PRS. Some Councils are giving Landlords huge golden handshakes to provide accommodation to people on their homeless list. Talk about shooting themselves in the foot - DUH!!

From: G romit 01 April 2019 22:18 PM

What this article doesn't mention is the effective rate of taxation. You really can't compare what tax is paid by different organisations without regard to their profit. to Feb '16 to Feb '17 to Feb '18 Turnover £53,933m £55,917m £57,491m EPS 5.6p 8p 11p Operating Profit £1,072m £1,017m £1,837m Total Operating Expense £52,861m £54,900m £55,654m Net Profit £138m -£40m £1,206m Net Profit Before Taxes £202m £145m £1,298m Net Profit After Taxes £256m £58m £992m ...implies Tesco profit for 2017/18 to be £306m so not sure where the NLA has got its figures from. Apologies for the formatting is looks OK when I'm entering/editing it.

From: G romit 12 March 2019 09:47 AM

Stephen Ludlow ought to know the difference between a tax relief and a legitimate business expense. I called him out on the 12 months ago even explained the difference, obviously a very slow learner. Perhaps he ought to publicise all the tax relief his business receives from the HMG in the form of salaries, premises costs, gas/electricity/ telecoms, vehicles, etc.

From: G romit 01 February 2019 11:34 AM

...and how many will be affordable/social?

From: G romit 22 January 2019 10:10 AM

Nationwide like the majority of the general public, large corporates, and the media have been indoctrinated over decades that Shelter is wonderful and that it provides homes for people. In reality they do not do this, in fact quite the opposite their vendetta against Landlords and letting agents causes more homelessness, by driving good Landlords out of the PRS. They think they are untouchable - well so did Jimmy Savile until...............

From: G romit 07 December 2018 10:33 AM

This is symptomatic of the disconnect between the Shelter workers on the ground and its fatcat executives. On the ground the people want to work with Landlords, but the executive just want to bash Landlords and Letting Agents. TO ALL DONORS MAKE YOUR DONATIONS TO CHARITIES THAT ACTUALLY PROVIDE ROOFS OVER PEOPLES HEADS NOT LINE THE POCKETS OF SHELTER EXECUTIVES.

From: G romit 07 December 2018 10:17 AM

This is Government pandering to populist propaganda put out by faux charities like Shelter (who do not provide homes for anyone except themselves). Avergage tenancies already last in excess of 4 years (meaning many are much longer) and 93% of all tenancies are ended by the tenants themselves. The only people calling for longer tencies are the rogue tenants who get evicted every 6 or 12 months for non payment of rent, damaging the property or abusing the neighbours. There has to be an efficient way of evicting such people.

From: G romit 03 December 2018 09:26 AM

State run utiities tend to be so inefficient, that private companes are able to do a better job, more cheaply and make a profit.

From: G romit 15 June 2018 10:58 AM

Rents have to rise because the Government is increasing Landlords costs. Without substantial increase in rent Landlords woul face rates of tax in excess of 100%. Yes that's right the Government takes all the profit and more esides. You are getting State control in all but name! The Government has set up landlords as the whipping boy for their tax grab.

From: G romit 15 June 2018 10:43 AM

They did see it coming but their BTR buddies haven't taken up the slack! (Nor as yet handed out lucrative non-exec Directorships).

From: G romit 15 June 2018 10:35 AM

See my previous comment

From: G romit 15 June 2018 10:31 AM

Your confusing this Government with someone who gives a s**t!

From: G romit 15 June 2018 10:30 AM

Presumably you have the same opinion of supermarkets, water companies,electricity companies, gas companies, your local butcher, grocer. Get real!

From: G romit 15 June 2018 10:28 AM

The Government are going to do anything that cost them (central Government)money or loses them revenue. If they do then they'll make charges for those services (e.g. Housing Courts fees) or increase taxes, or put the costs out to local Government

From: G romit 02 October 2017 11:49 AM

................so Corbyn must really happy that this leftist Tory Government is executing his PRS plan for him (and taking the liability when it all goes pear-shaped).

From: G romit 29 September 2017 14:56 PM

you are crediting the Government & their advisor with more intelligence than is justifiable.

From: G romit 29 September 2017 14:52 PM

At last some at the helm of Shelter who seems to understand a bit about the economics of the lettings business. Let's hope she'll change Shelters stance on Sec.24.

From: G romit 29 September 2017 08:00 AM

"The steady fall in the number of homes available to rent in London has been driven by a drop in the number of landlords buying since the new stamp duty rates". Undoubtedly Stamp Duty will have an effect but only to deter further growth. As yields in London have been pretty thin in general, the effects of s.24 will make letting a property uneconomical for many Landlords resulting in them selling up, as the Treasury/HMRC will now be taxing them on fictitious profits. So the effect of s.24 will be to reduce the number of properties available to rent, and that on its own will drive rents higher. THat's on top s.24 driving up rents in its own right just to pay the extra tax.

From: G romit 14 August 2017 09:26 AM

Needs to be a co-operative arrangement between NLS, RLA & ARLA.

From: G romit 01 July 2017 15:28 PM

Many Landlords haven't crunched the numbers to determine what impact s.24 is going believing that is can't be all that bad as it was a Conservative Government that introduced this measure. How wrong they are! Effective rates of tax on actual profits can be over 100%. Rents will need to be raised from between 20% to 40% just to pay the extra tax. And if the local market cannot bear this then they'll have to evict and sell up

From: G romit 10 May 2017 07:09 AM

Please do share your research with us as it contradicts the finding of reputable independent research organisations, and Governments own statistics publish in the English Housing Survey. Far from clogging up the market Landlords provide investment in new development by buying off-plan which provides the seed funding for development to proceed. They bring derelict houses back into use, and covert overly large properties into HMOs or smaller flats. BTW mortgage interest is a legitimate business expense not a relief. If this measure was applied to all businesses the expansion of business in the UK would dry up overnight

From: G romit 03 April 2017 13:13 PM

It looks like this Government have chosen to learn the hard way, and cause untold misery to millions along the way.

From: G romit 23 January 2017 19:49 PM

............a degree in History and "O" level maths.

From: G romit 23 January 2017 19:47 PM

More mindless regurgitation of George Osborne's sophistry. Even HMRC have admitted they've underestimated the number of Landlords that will be affected, and that they have no idea how many Tenants will be affected. Separate estimations say that 4.6m Tenants will be affected by the changes.

From: G romit 23 January 2017 19:46 PM

What it fails to mention is that the currently Tory Government with its punitive taxing of the BLT sector is a far far bigger threat to stability. Of course, the BoE is always right, just look what happened in the last crash in 2008 did private Landlords flee the market ? errr No but just look what is happening due to George Osborne's insane Tenant Tax aka S.24 Finance Act 2015 is doing and it hasn't even started to bite yet!! Thi Government is a set of "own goal merchants"

From: G romit 02 December 2016 10:10 AM

Theresa May in her conference speech yesterday said her Government would fight injustice. Well here's her first test is she going to defend Sec.24 or do the right thing correct this injustice and repeal it?

From: G romit 06 October 2016 06:23 AM

Theresa May in her conference speech yesterday said her Government would fight injustice. Well here's her first test is she going to defend Sec.24 or do the right thing correct this injustice and repeal it?

From: G romit 06 October 2016 06:23 AM

In reality the Chancellors measures will make it harder fro FTB's as Landlords raise their rents, and prospective buyers currently renting have less money to save for a deposit.

From: G romit 01 March 2016 11:37 AM

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