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Tuesday, September 03, 2019

Reaction to Labours 'Right to Buy'

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Unknown said...

I have just stopped buying any more property. Until I see if the idoits get in. And if they get in I will sell what ever, I have. Some of my tenants have been with me for 11 years. Why do they think they have the right to discount my business.

Anonymous said...

here here
Why have we invested in our business for the government to poke their noses in do they interfere with the price of our goods, I'd love a new car please can I have a 80% discount?
What am I on?
The planet of everyone else providing the labour and investment for someone to come and destroy our country and practices.
The councils were run by the government so I understand that they had a say in how their investments were dispensed with but these are my investments and I haven't received a penny from the government so clearly they have no say in my property business just like I cannot have a reduction on a new vehicle of a different kind.
If all landlords exit the market together the market will crash maybe this is what the Labour government are hoping for?

Cybermouse said...

Okay. So Labour would like to introduce a 'right to buy' scheme for private rented property. Here’s a way that might be a route around it. If I can guarantee that a tenant with a lease is not wishing to buy the property ever, then I would be secure against their legislation. So… I rent my property to a company (Ltd. with myself as director) who take a long lease on the property. They then (because I have allowed the company in the agreement to sub-let all or part of the property to another tenant at their discretion) re-let the property as their own agent. The tenant is therefore effectively renting from an agency that does not own the property and only has rights to it under a lease arrangement. The agent does not own the property so cannot be forced to sell something they do not possess. The owner of the property has no direct 'line of sight' arrangement with the occupier (or tenant) and is only concerned that the company holding the head lease performs as it should according to the agreement.

Cybermouse said...

Dear Anonymous, if we all did that at the same time the only thing that would crash would be our net worth. The house prices we were able to obtain in that kind of market would make the tenant discount look favourable to resale, especially after the Capital Gains worm ate into them. (Thank you very much Gordon Brown)