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Tenancies Reform Bill Fails On Technicality

Tenancies Reform Bill Fails On Technicality

Tenancies Reform Bill Fails On Technicality

UK private rental sector (PRS) and social landlords were able to breathe a sigh of relief on Friday 28th November 2014, when the controversial Revenge Eviction Bill, or to use its correct title, the Tenancies Reform Bill, presented by Lib Dem MP Sarah Teather, failed to progress past its first reading in the House of Commons.

Rather than failing on a vote, the bill failed on a technicality after MP’s Philip Davies and Christopher Chope chose to talk it out, known as filibustering, because there were not enough MP’s present in the House of Commons to vote for the Bill. The debate started at approximately 9.30am and parliamentary procedure dictates that only Bills which remain unopposed after 2.30pm may make further progress.

MP’s who supported the Bill tried bringing forward a closure motion, to end the debate and call for an early vote, however for a successful majority, at least 100 MP’s must support it, but the motion was only supported by 60 MP’s and the debate on the Bill subsequently ended.

In order for the Tenancies Reform Bill to become law by the next election it must pass a second reading stage in the House of Commons, but it is not certain whether the Government will commit more parliamentary time to debate the Tenancies Reform Bill to try to force it through.

UK PRS and social tenants do need to be protected from the small minority of rogue landlords, and so do good, reliable, law abiding landlords.

It is far from fair that the majority of upstanding landlords should be expected to alter legal business practices because of criticism drawn by a few rogue operators within the UK’s private rented sector.

The Tenancies (Reform) Bill proposed restrictions on the serving of section 21 notices even where only a “hazard awareness notice” has been issued by a council. Landlords wouldl also be prevented from serving a section 21 notice where an improvement notice has been served on a rental property relating to category 1 or category 2 Hazards under the HHSRS rating system, or where the rental property requires emergency remedial action.

Tenants would also be able to challenge section 21 notices where they had complained to the landlord or council before the notice was issued, but the council was still deciding whether to even inspect the property in question.

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Flipping Property To Be Made More Difficult By Government

Flipping Property To Be Made More Difficult By Government

Flipping Property To Be Made More Difficult By Government
In A Bid To Boost Revenue

In the week when I have just purchased my first property to flip, the UK Government announced that they are planning to crack down on the profits made by property developers and property investors who flip property.

The Government want action due to the demand for housing greatly outstripping the supply to market and they want a slice of the revenue that they feel the country is missing out on. This could greatly affect my business plans, so I thought I would examine the issue in more detail:

Flipping property is considered by Government to be the process of changing your main residence before selling a property in order to avoid paying capital gains tax (CGT).

However, as many property people will tell you, “flipping” is buying a property at one price and reselling it again within a relatively short time frame (6 month rules apply) at a higher price, whether you have done any work to improve the property or not.

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