Updating post from Reddit.
Genuine question:
My property, like others, is in a block - as a Leaseholder i can not change the fabric of the building.
Say my property is a D and the recommended upgrades to achieve a C all require material changes to the fabric of the building (windows, heat pump, Insulation, solar) Who the F is going to pay for that? The freeholder?
I was wondering this too, I also looked into can landlords eviction to sell if they can't afford the works and apparently this will not avoid the fines and isn't really allowed. So what the hell are those landlords supposed to do?
Labour are clueless twunts. If it gets really bad i will just let the mortgage co reposes it. They can have it.
Finally you leeches getting what you deserve. Hopefully normal every day people can buy that house and live in it instead of it propping your retirement up at societies expense.
Just interested to know where you expect people who can't afford to buy a house will live if all the rentals are sold? What do you think happens to rent when there are less rental properties available?
Council houses exist for those who can’t afford their own housing and that’s where the ex council houses should be sold back to. The only other source of renting should be from universities. Everyone that has a job would be able to afford a house or qualify for a council house with the increased supply in their hands and on the market. Instead you leeches thank Maggy for giving you cheap property that you can then exploit the poor and young with.
Do you know what the current waiting list is for council houses? It's insane.
That’s because they were all sold off to private landlords to then exploit the poor and young. Did you even read my reply?
The government has also not built anywhere near enough social housing over the last decades. It's already hard enough to get a rental property, if the rental stock reduces further then rents will continue to rise and it will become even more insane to try and get a house to rent. You need private rentals even if you are against them. It's just the reality. There will never be enough social housing and what about the middle earners who aren't eligible for social housing but can't afford their own house? It's not as simple as you are making out.
You really are clueless, you and the rest of the landlords. Do you realise how much property is owned by landlords? Yes I completely agree social housing but also all other kinds of housing has not been built anywhere near enough. That doesn’t mean that shouldn’t change and that doesn’t mean if rentals were banned that councils would then have much greater supply still to offer and give better service for instead of waiting for your crusty asses to get up and fix a boiler. Not to mention the much larger supply on the market would cause the prices to fall. That’s where the middle earners would go. You stole those council houses for less than 20k in parts of the country just to rent them out room by room for over a grand a month. Don’t even try to defend it anymore, if you still can’t understand my point of basic supply and demand then speaking to you any further is clearly pointless.
They were sold to tenants and became a family asset. Are you old enough to be online?
You’re seriously saying ex council houses haven’t been sold as rental property now? Well guess what you can’t be more wrong. More than 40% of the total supply sold off is now used as private rentals. You landlords really are that uneducated aren’t you. You just sit at home ignoring problems like ventilation and a broken boiler or leaks then spout utter nonsense that is proven wrong with a quick and simple search.
lol. No they don’t.
If council houses dont exist for those who need it then who does it exist for. And no before you answer for landlords to buy them up cheaply then exploit the poor and young, no that answer doesn’t count.
10m more guests arriving in the next decade. more landlords selling up = reduced liquidity in the housing market.
You’re suggesting more state aid for their retirement?
🤦♂️
You could insulate internally.
How would that pass an EPC?
Better insulation improves the EPC rating...
My response to you got Auto-deleted.
In short - dont be so naive.
What are you suggesting? slap some 35mm closed cell backed plasterboard up and replaster? you think EPC recognises that as insulation? Or should i reduce the internal space in my property by putting 100mm kingspan foam on all external walls and box that in?
Have you ever been on a building site or done a minutes worth of real work on a property?
You cant just smeg up some insulation and gain an EPC grade. It doesnt work like that.
You don't seem to understand much at all do you?
Yes I have. I'm a landlord, property developer. I've built multiple new builds, as well as renovated and retrofitted old.
I have literally installed insulation by lowering a ceiling.. And guess what.. It improved the EPC rating. I've also done external insulation then clad over it.. Again, improved the EPC.
You have to look at what is currently reducing your property and work with that, and with the inspector.
Out of curiosity, how do you think it works? If adding insulation doesn't?
The epc guidelines are quite clear and when you have an inspection, the registered inspector will score your property based on set criteria, the evidence of meeting which needs to be evident or implied by what they can witness at the property.
EG cavity wall insulation is not assessed by cracking open the wall cavity, they look to see if the injection points are visibile in the exterior brick work.
Adding a layer of insulation to an interior wall wouldnt be visible, and they wouldnt be able to test for its presence or absence.
Also, for my property, Insulation is NOT something that would move me up an EPC rating as that isnt a part of the rating i can improve - this varies between properties.
Thats how it works and you can find the guidance points on the EPC report of your property on the public register, searchable with your property postcode.
So I'm a qualified energy assessor, your comment was about you can't gain a better rating just by putting in insulation. Tell me how?
If you're qualified, why dont you tell me where i am wrong?
The EPC rating is not about insulation, or even thermal efficiency of a property.
I cant just add insulation and get a better EPC score, which is what you are insinuating.
If an EPC isn't about insulation, what is it about?
We are at this moment adding internal insulation to a building we are refurbishing to raise the EPCs of the flats. It absolutely is one of the criteria used when scoring a property for EPC ratings.
You could, I don't know 🤔 take pictures of the install and show them to the assessor 🙄
Admittedly I had one that 'assumed' no loft insulation because they couldn't be arsed to look 🤦
For the current rulings (requiring band E compliance) there are exceptions and a price cap on improvements spend. Don't know how easy it is to get one, but there are procedures listed.
I suspect it will depend a lot on types of property. If you're renting a drafty old semi in the suburbs, then I would assume you'll struggle to get an exception. If you're renting a leasehold flat or maisonette, then it's probably possible. YMMV
Guess 🤣
Crazy. Just means the rental pool will be shrunk as all the period properties largely our ancient town and city centres are no longer eligible.
Yep, rural England is about to get purged of rental properties.
Good luck to all the people trying to get a rental property I guess. Rents gonna go up.
Apparently you can't evict to sell and use you can't meet EPC net zero rating as the reason. I really do not understand this part as surely a landlord can evict to sell for any reason.
Of course you don't understand it, it's mindless and exacerbates the housing crisis.
Yep, exactly why mine is now on the market. Even if I had the money to do it sat in the bank, the house wouldn't turn a profit again until I'm 68. Oh well.
But it would double in value every 10 years. Not only that but the policy won't even come in and will be scrapped after the gov have given billions away in grants
It didn't double over the last ten years... and I can't risk the policy coming in. Frankly, it's not been worth the effort anyway.
lol just means people will be paying for dodgy ratings.
Gonna clean up as property is already a C
What if the metrics change by then and all current C becomes a D or E grade by net zero?
Fucked then init
But that's life.
I'll just vacate the property and hold for value increases
Don't forget the long term empty council tax premium it doubles each year in my area 200% 400% council tax
Then I sell up.
What ya gonna do
You also can't sell up to avoid the fines for not hitting the target. So yes you can s8 because you want to sell but this is what I don't understand is that they forbid not hitting net zero target as a suitable reason.
Can you run that past me again?
Are you saying that a property owner can be forbidden from selling a property under this?
Apparently so they have put in measures to stop landlords from avoiding net zero by just selling up. You can still sell up but you need to make the courts happy that your intent to sell was not to avoid net zero. Assuming this will be a s8 eviction under rent reform policy when live. This is what I find very crazy, they expect landlords to take out the grants/loans available and do the work than to sell up.
I’ll believe that when I see it. Sounds like sensational journalism to me.
Nobody is going to be able to prevent someone selling a house, tenanted or otherwise.
Like I said it's not forbidding selling but the fines etc will still be pushed on you from what I can tell unless you settle the courts for the eviction and have a genuine reason for the sale other than avoiding the met zero. I am more worried about my c raited property being downgraded to a D by some future bullshit changes then making more liability issues.
Exactly. You can’t force landlords to get loans.
Or a way of denying the actual reason for a mass sell off, basically stats manipulation.
Good point. How is this enforced? I mean how does the council find out?
They know when council tax was last paid unfortunately. I only know because I bought a btl in 2018 and decided it needed work to make it nice. Then the suprise letter stating my monthly council tax was 200% because the owner before me had it sat empty for many years. Yes it transfers to new owners as in the clock doesn't reset. I just had to pay double and finish the works as quickly as possible.
My property went from an E to a C during the latest inspection. I didn’t question the sudden jump at all.
Mine became a C cause I added loft/cavity/UFH/hive TRVs when I owned it.
Mine was a C when I bought it and since added led bulbs, new boiler, better rads with trv so fingers crossed 😅
This can only result in less available housing stock available and rents going up. Net zero is a luxury for the upper classes and drives up living costs and reduces everyone else's standard of living.
Yep very sad. They forget lots of us aren't rich
I also wonder what this means for landlords at the low end of housing will they want to improve to a C grade at a cost of many thousands knowing their tenants probably only pay the low LA housing rate or just sell up. Where will all these low income renters end up?
Probably can't afford cardboard boxes with green taxes and inflation
They’ll exempt social housing.
This is compulsory purchase at depressed prices by the back door.
But most social housing is private landlords now isn't it? Basically I can contact my council and say hey I have a house for your social tenant and they will push one my way albeit for the undervalued housing allowance they provide.
Is that zero employment, zero growth
2008 all over again
If it were to happen, we would simply sell up at the end of the tenancy as being a landlord is shit anyway. That said, 5 years would have been a challenge, 3 years is impossible.
Why not just sell anyway? The returns are shit and the hassle is high.
I'm only a landlord as I'm not in the UK in the short term
Waiting until I retire to minimize the CGT bill.
Fair enough.
What I would say though is my SIPP is up approx 30% in the last 5 years, compared to house prices which have remained flat (at least where I am). Reducing your tax bill could be costing you money compared to maxing your ISA every year.
But appreciate every situation is different. I just feel like uk governments don't want landlords anymore!
I have two BTL of my portfolio with EPC grade D, I am thinking to sell it in this year, do not want to do any upgrade to waste money
Barmy! Every time I see Milibands face I want to be sick!
Dodgy EPC assessment folks are about to make a killing.
They'll counter that by letting the tenant get their own EPC and use it to get a rent repayment order if it fails.
Is this England only?
With a third Heathrow runway?
Bloody loser.
What about properties where the EPC states that it cannot be improved beyond what it is now?
I suspect they will change the EPC methodology which means that a lot of C rated properties would be re-rated to D meaning more properties will require upgrades. I wouldn’t be surprised if this happened to squeeze even more out of landlords.
Labour going to blow the one shot they had by pandering to this crap. Honestly, it feels like reform might the only party that is actually going to represent my interests and try and stimulate the economy.
I mean Liz truss thought doing what everyone wanted overnight was a good idea and we all saw it wasn't.
Reform do have some very different ideas which is why they stand out putting aside the racial stuff they do seem the only one to want to break the mould which clearly hasn't worked for my entire working career and the last few governments.
I think we are too far gone by that point to ever see a recovery in my lifetime. Hope I am proven wrong but generations mine and after me have truly been shafted.
I don't dispute make changes to rental market but it does seem like a pile of shit all at once with not a care to the impact it will have on both tenants and rents. Then the lasting effects of landlords going bust and banks being handed the keys to failed investments create a black hole in their pockets then. Sort of feels like the foundations to 2008.
Liz truss economically knew what she was doing; politically and market wise she had zero clue.
The UK is fixable with time, look at whats happening in Argentina economically within one term for example.
I guess but we have a lot going against us in terms of trade, boarder control, NHS, schooling, crime, tax. Then we have USA and Europe wanting to control us with our economy stuck in the middle. I don't understand why we imposed bigger taxes on China imports when it's not like our country/ economy can physically ever start manufacturing the stuff they produce that we all want. I do hope I can see at least 1 political/economic decent term before I'm gone.
What does that mean? Surely if she 'economically knew what she was doing' then the markets would have been very happy?
No.
Markets don't like uncertainty and they don't like unfunded borrowing.
She has the right idea but tried to do too much too fast, didn't engage with the right people and processes and did it all in mini budget lol
Respectfully, then I think she *didn't* know what she was doing economically. Understanding the markets *is* economics; understanding how much change the economy/the markets/trading partners could accept, at what speed, is economics — if you're PM (or chancellor).
Her aspirations were correct; the execution was botched.
We've had zero growth since 2008; it's very clear keeping the status quo isn't going to work.