Harringay, Haringey - So Good they Spelt it Twice!
Croydon goes for the Newham landlord licencing model
ie all private landlords need a licence, and the licence fee pays for the cost of inspectors. In this case, £350 for five years for early applications, £750 if late. £20k fine for failing to register.
I know Haringey is watching the progress of the Newham scheme with interest, it's being seen as a pilot by many. How long before it comes here? £1.35 a week seems like a reasonable amount to declare yourself right and proper.
Replies to This Discussion
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Permalink Reply by John McMullan on
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Per property? One local landlord is trying to dump 150 properties as carefully as they can onto the market.
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Permalink Reply by pamish on
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Per property, on the Croydon scheme. So £200 pw for your mystery flogger, the income from one room.
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It's actually one of the estate agents on Green Lanes... Starts with A.
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I wish I knew. I can't think of anything better to do with pots of Yuan at the moment. By better I don't mean "better".
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Permalink Reply by Justin Guest on
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I would have thought that if you owned 150 rental properties that would leave you pretty exposed to the London property market. I assume they are all in the Harringay/Haringey (dare I say it) location. If so, you are even more tightly geared to the housing market in this corner of the world.
Also, if you own 150 properties there is a fair assumption that it has taken you a few years to get this far (heaven knows how long it takes to get a hotel in Monopoly…). So, the owner is likely to be getting on a bit.
150 at the best part of £500k per… Thats a lot of dough tied up.
Time to cash in your chips and think about retiring would make sense to me...
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Not if he owns them through an offshore registered company.
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Permalink Reply by Finsbury Park Ranger on
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Lots of landlords are thinking of cashing in their chips now the generous 10% wear and tear tax subsidy has been limited to strickly receipts only expenses and the tax relief on interest payments has been slashed.
However with China devaluing their currency and a currency war looming, more house price inflation is looking on the cards as even more money will start chasing the same amount of commodities, tempting the landlords to chase the capital appreciation. Especially as London is still considered a 'safe haven'.
It's a weird situation of a free market London 'success' story ramping house prices out of the budgets of even professional Londoners which perhaps only a good bit of Corbynomics can be trusted to stop. -
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