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Building Housing For Rent
What changes in the law over the years, brough about the demise of long term rental properties in this country? What laws would have to be made or repealed to encourage businesses to build for the rental market on a large scale?
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The Housing Act 1980 which allows council tenants to buy their homes at a discount.
http://en.wikipedia.org/wiki/Right_to_Buy_Sche me
http://en.wikipedia.org/wiki/Right_to_Buy_Sche me
Rent Act 1977 (and its predecessors) gave tenants extra rights. That deterred private landlords.
Housing Act 1988 reinvigorated private sector lettings industry, by rebalancing L's rights- more even handed now.
Income tax relief used to help house mortgagors (borrowers), and abolition of old Schedule A income tax meant no ongoing tax payabe on one's only or main home.
As most people want to own/occupy, because potential for large tax-free gains, new-build-for-let market is a thing of the past.
Housing Act 1988 reinvigorated private sector lettings industry, by rebalancing L's rights- more even handed now.
Income tax relief used to help house mortgagors (borrowers), and abolition of old Schedule A income tax meant no ongoing tax payabe on one's only or main home.
As most people want to own/occupy, because potential for large tax-free gains, new-build-for-let market is a thing of the past.
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