Private Tenant – Right to Buy Report

Filed in Landlords by on 24th October, 2018 0 Comments

The Government is considering the introduction of a private sector  “right-to-buy” scheme for private rented sector tenants who have rented the same property for a minimum term of three years.

Proposed by think tank “Onward”, their “Make a House a Home Report” suggests that Capital Gains Tax is scrapped and a gain share scheme is adopted where the tenant and landlord share the difference between purchase value and market value (less allowances).

The tenant’s share being used as a first time buyer deposit.

Some landlords will be concerned that this is the first step toward a compulsory right-to-buy scheme. The current proposal requires both the landlord and tenant agree to the scheme.

Other landlords seeking to deplete their portfolio, may find this an opportunity not to be missed.

It is expected that the introduction of this right-to-buy scheme will be announced in this year’s November budget.

Click here for a copy of the Make a House a Home Report: 061018-Make-a-House-a-Home-Final-1-1

About the Author ()

Rob Crawford is the chairman of the Association of Local Landlords (Wessex). Rob is a practicing landlord with a property portfolio that includes small private residential properties and HMO's. Rob is a qualified letting agent and former owner of Kingfisher Lettings & Management. He is now a share holder of the successful online lettings company Lettingsupermarket.com.

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