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Khalil: What hope can landlords get from the White Paper on Housing?
• Will the promises of the government’s Housing White Paper turn out to be a white elephant for landlords?
• Is there any hope the rental sector can glean from the changes we face in the coming years?
• If you are a landlord and want to understand what is about to hit you, and what may help you, in the near future, read on.
What does the Housing White Paper have in store for you?
The Government promises to fix a “broken” housing market, and it wants to start applying its remedies immediately. But is the cure worse than the disease for landlords?
Certainly the proposals start off on a good foot. Throughout there are songs of praise to the important role that private landlords play in housing the nation.
Yet many landlords hoped that the airy tunes would be backed with something more substantial.
In particular it was hoped that there would be some dilution of the Section 24 legislation, which will hit small landlords hard, with its introduction of a tax on income rather than profit.
Steve Bolton, founder of the Tenant Tax campaign, commented that the government’s commitment to increasing the availability of homes is seriously undermined by the tax changes due to come into effect in April. These will “seriously derail investment in the rental sector”.
The Association of Residential Letting Agents (ARLA) saw some positives in the government’s recognition that owner-occupation is only one option available for those looking for a home. This bodes well for the future of the rental sector.
“It is important that we have a housing market that works for everyone, not just for those who own their own property,” said David Cox, managing director at ARLA.
However, Cox also saw a potential sting in the tail. He noted that the new focus on encouraging institutional investment could be at the expense of small landlords, who actually make up the bulk of the private rented sector.
Here’s a real message of hope for Brighton landlords
Change is the only constant for landlords. But Brighton landlords, at least, can guarantee one important thing. And that’s their rent.
Khalil’s Rent Guarantee Scheme does what it says on the tin. Our unambiguous message to landlords is simple: we will guarantee your rent.
There are no if’s or but’s here. You lease your property to us for five years and we deal with the tenants, compliance issues and daily maintenance. We pay you rent every month regardless of whether your property is currently occupied or not.
No longer will you face void periods or rent arrears.
And that, at least, is a message of hope for landlords.
For an easier way to manage your property investments, talk to us about our Rent Guarantee Scheme by calling Ahmed Khalil on 0784015669 or 01273 573960, emailing email@example.com, visiting us at Khalil Properties (124 Lewes Road, Brighton, BN2 3LG) or finding us online at www.khalilproperties.co.uk.