Landlords’ problems
Sir,—So the Housing Corporation is to be turned into a pseudodetective agency to sniff out illegal rent increases by the Minister of Housing. This encroachment into the private lives of landlords is just another item in the saga of their demise. Most are suffering crippling cost increases, i.e. mortgage rates (on renewal) yet cannot apply for a rent increase on these grounds without evidence of near bankruptcy and proof that their rents have not been increased for two years. Some landlords, fearing even harsher legislation next year, which would make their properties (if tenanted) valueless, are seriously studying the economics of evicting tenants fairly soon and preparing their properties for sale to private ownership.' The small return on invested capital provided by rents is all that remains for the landlord now capital gains are taxed on a ten-year or less ownership. Can landlords be blamed for wanting to quit? — Yours, etc., J. KITSON. June 30, 1983.
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Press, 4 July 1983, Page 20
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158Landlords’ problems Press, 4 July 1983, Page 20
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