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John McKay
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About Me

my expertise in the industry

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John McKay
Now why would someone leave a house empty when they could be renting it out? Hmmm, let's see.... 1. S24 (disallowing of finance costs) 2. Bad tenants often supported by the so-called charity by name of Shelter 3. Premium of 8% CGT when selling property 4. Banning of letting agent fees 5. Halving of lettings relief 6. Prospective banning of ‘No DSS’ wording in adverts 7. Promised banning of S21 notice 8. Growing trend of councils charging hefty licence fees per property 9. Changes to HMO regs including minimum room sizes 10. Right to rent checks (now shown to be discriminatory and there is no guidance on how to deal with EU immigrants) 11. Benefit tenants migrated to UC causing lengthy delays in rent payments and often substantial arrears 12. Deregulation Act 13. Scrapping of Wear & Tear allowance 14. Introduction of EPC minimum requirements (even on HMOs) which can be difficult to meet with older properties 15. Unfit for human habitation legislation 16. CO detectors must be fitted 17. 100%+ council tax on properties being refurbished between tenancies. Not even the 25% single person discount 18. Substantial increases in court costs for use of S8, thus making S21 more popular 19. Membership of compulsory redress scheme for agents (and most likely for landlords soon) 20. Limit on amount of deposit we’re allowed to take 21. Rogue landlord database 22. Proposed 3 year minimum tenancies though not sure what the value of this would be with the abolition of S21 23. Some councils now charging council tax on HMO rooms

From: John McKay 24 January 2020 08:44 AM

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