
Originally Posted by
Andy Bee
A lot of these figures are skewed at the moment especially down south. They've got the tenants rights bill coming in or already in? They've got the 90 day rule in London for holiday lets and serviced accommodation and Sect 24 for the same cohort. Registration for HLs and SAs (it's unbelievable we don't know the amount of holiday lets and SAs there are) and the big one, stamp duty rises coming in April for landlords, also the CGT changes and probably more changes if there's another interim budget. I'm not sure what of these has been implemented in Scotland but they should be looking at the added measures for HLs and SAs if they aren't.
Just anecdotal but I've noticed a lot of property developers/landlords getting into renovating old Victorian houses down south which are fairly abundant and converting them into 6,7,9 sometimes 12 bed HMOs and leasing them straight to the council for a fixed fee per room for years, they basically pass on all the obligations to the council and sit back collecting the rent, surely it's cheaper just to build the houses? There's a whole industry growing because of the property shortage, rent to rents where one landlord rents from another, takes on all the management of the property, refurbishes it and rents it out as serviced accommodation for a large profit. You've got people scouring the property sales sites or sending letters to prospective sellers looking for deals, finalising the deals then selling the deals on to property investors for £3 - £5k. You've got the BRRR scheme where landlords buy unmortgageable or run down properties using cash or a bridging loan, refurbish the property, rent the property and then have it revalued at it's higher rate and refinance with a normal mortgage then use that to finance the next deal. The whole thing is becoming far bigger than just your normal buy to let punter that's looking to enhance his/her pension.
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