Letting Landlords be Landlords
Post Election View
Well – the political landscape is now changing colour to a Tsunami of new political voting. With the Liberal Democrats all but wiped out – and labour licking their wounds on what has been a damaging election night, we are seeing a wave of relief in the industry and markets regarding property and housing.
The suggestion to cap landlords rents and stifle the market seemed the ‘nanny state’ had gone into overdrive. Given relief on stamp duty in the housing market so that owners could reap the reward by artificially increasing asking prices to reflect the reduction in tax would have led to an inflatory bubble in house prices that placed further upward strain on a compressed housing market.
Let Alliance themselves emailed all their contacts today announcing “What a Relief!” as they were genuinely worried that the marketplace would be waking up to a Labour coalition government with the SNP placing an inevitable stranglehold on property and housing causing huge uncertainty in what has been a market hit by the storms of recession.
The recovery, though fragile, is underway, and this bodes well for 1.3million tenants being helped to buy their own homes, and the panic that comes with change has receded for now.
It has long been a principal of Regalty Estates to allow homeowners to enjoy the benefits of home ownership without the grasp of rapacious absentee landlords charging excessive service charges and ground rents. However, we stand utterly opposed to the intervention of government in determining markets – preferring to support our many buy to let landlords who have become investors in property and who wish to enjoy home ownership has a vehicle to their pension plans.
At Regalty Estates, we are commmited to helping such investors grow and prosper through low service charges and excellent service, no matter what challenges lie ahead, and you can rely on us to be in your corner, no matter what colour the country goes.