According to a recent survey that polled landlords about the budget and its effects, 65% are seriously considering raising rents because of mortgage interest relief will be reduced by the government.
The Government of course is taking the stance that the previously announced cuts should have no ill determined affect upon landlords and therefore they do not envisage a rise in rents.
George Osborne firmly believes that landlords have better tax incentives than existing or new homeowners. However the Institute of Fiscal Studies and the government’s think tank, Policy Exchange, are not in agreement with the Tories’ summation, as landlords have to pay income tax on rent as well as capital gains.
Richard Merrick of PIMS, said: “It is hardly surprising that a majority of landlords are considering raising their rents because of the budget. We cannot understand why the government is introducing these measures; surely they should be supporting the sector in providing ‘homes’ because of the housing crisis?
“The economic situation caused lower wages to be introduced due to supply vs demand, and the drop in household income has caused the necessity of the private rented sector. Fewer and fewer people are able to enter the property ladder.”
“Landlords should be treated as any business, they are not homeowners.”
Immigration Act revised 2016 should a landlord or letting agent fail to ensure ALL tenants/occupiers have a righto reside for the duration of the tenancy then they may be fined £3000 for each breach. The Secretary of State may instruct the landlord to remove such persons without the need of a court order by way of reasonable force
Labour market enforcement - restriction on illegal migrants to work. A labour market enforcement undertaking (an “LME undertaking”) is an undertaking by the person giving it (the “subject”) to comply with any prohibitions, restrictions and requirements set out in the undertaking
Under section 42 of the County Courts Act 1984 it is possible for the Court to transfer a matter from the County Court to the High Court for enforcement but leave (permission) of the Court is required first. The transfer time varies from court to court and can take up to 28 days, but normally takes far less. An application to seek permission can be made either at the time of making the possession claim or after possession has been ordered.