As I write this short update I am thinking about all the changes that have been imposed on Landlords over the past few years including the Stamp Duty Surcharge, Right to Rent checks; Legionella controls, changes to Income Tax allowances for High Rate Tax paying Landlords and the impending ban on Letting Agents fees which will inevitably see some Letting Agents give up, sell up or put their prices up! This is not an exhaustive list of the changes being imposed but merely a snapshot!
Although it is tempting for some Landlords and Letting Agents to give in to the negativity (fueled in no small part by the media) I cannot help but think of all the positives for those of us who are in this business for the long term that these circumstances create.
We expect more people to need to rent in 2018 and beyond i.e. more tenants that need housing! We expect to see some amateur Landlords sell some or all of their stock meaning that there will be more property available for purchase and with interest rates remaining at an all time low (for now) then Q4 of 2017 and 2018 should provide Landlords with a range of opportunities for extending their portfolios.
At Giraffe HQ we have always said that Landlords need to comply with the letter and spirit of all relevant property laws, ensure that their borrowing costs are well controlled and ensure that they vet tenants properly along with managing the tenancy professionally from start to finish. Landlords who continue to do this and aspire to the very highest standards have absolutely nothing to fear about the next few years in my opinion.
Giraffe Lets Ltd
27th Sept 2017