Too many risks, too much tax at over 50% if you get your full rent paid promptly, a big if that, too much maintenance costs when tenants change over, too much paperwork and governance and PRTB useless when it comes to owners rights and tenant accountability. Costs for accountant whilst not essential needs to be costed, insurance costs etc etc ,
Most of the investment properties however are being bought by owner/occupiers according to the reportHaven't read the article but presume some of those exiting are/were accidental landlords? Though Palerider's points are true is it any harm if the accidental landlords leave and the market is left more to professional landlords?
Looked a property investing myself and it's just not worth the hassle , I've been buying REITs like sarenco mentioned seems much easier and shares also , I'm sitting on a lot of cash myself no idea what to do it with , it's funny how all the free advice I get off people is to buy a few houses rent them out and clean up . Nobody talks about the hassles.
I bet those offering the free advice don't have rental properties. I've heard that too and when you mention tax etc, it's normally greeted with a blank stare.it's funny how all the free advice I get off people is to buy a few houses rent them out and clean up . Nobody talks about the hassles.
As a renter: a rental property is worth exactly what somebody is prepared to pay to rent it. From this perspective, LPT comes of the landlord's bottom line just like any other expense except that LPT is not tax deductible.I think that it might be so one could argue the case that it is the tenant who is paying the LPT.
Since LPT has been introduced rents have increased a lot. Could it's introduction be part of the reason for that increase? I think that it might be so one could argue the case that it is the tenant who is paying the LPT.
Furthermore, maybe tenants are paying double the LPT everyone else is paying to give the landlord's his/her LPT payment once 50% tax etc. is paid?
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