Old Conservatives don't understand

[motorbiking]

And you add lost income from your 30 year business plan at say £1k/month = £360k. So the worth to you is £499k but the bricks and mortar value is £320k. If you sell a RTB at up to 70% off you could have a worth to you of £499k but selling for £96k. Madness...

But I don't and you can't.

New builds take around 26 weeks start to finish. That is my total loss of rent. During the 5 years of having a tenant I have 260 weeks of rent less the period needed to replace the sold asset.

And you are still ignoring the terms and conditions of RTB. You do not get a 70% discount on a house worth £499k after 5 years of renting it.. Please read the rules... again.

 

[denso13]

But I don't and you can't.

Yes, you might not like it but that is how asset valuation in social housing works.

You do not get a 70% discount on a house worth £499k after 5 years of renting it.

What's five years got to do with it? It isn't tied to one property, it is being a social housing tenant that counts. Someone could have numerous different tenancies but it all counts as one towards the up to 70% discount. It's basic stuff...

 

[motorbiking]

Yes, you might not like it but that is how asset valuation in social housing works.

What's five years got to do with it? It isn't tied to one property, it is being a social housing tenant that counts. Someone could have numerous different tenancies but it all counts as one towards the up to 70% discount. It's basic stuff...

No it doesn't. Assets are assets income is income, lets not go in to your accounting knowledge again.

You cannot get 70% discount on a property worth £499k ever. Not after 1 year not after 100 years.

Read the rules. They aren't hard to get your head around

You get a 35% discount if you’ve been a public sector tenant for between 3 and 5 years.

After 5 years, the discount goes up 1% for every extra year you’ve been a public sector tenant, up to a maximum of 70% or £96,000 across England and £127,900 in London boroughs (whichever is lower).

Your discount will be less if your landlord has spent money building or maintaining your home.

 

[motorbiking]

So youre happy being forced to sell your rentals?

Sure if I got a grant to build them and didn't have to pay the usual taxes. You know.. like a public housing body. You do know right to acquire covers all public housing? You do understand that the private rented sector is not public housing, so they don't get grants to build or tax exemptions?

 

[Deleted member 221031]

And you add lost income from your 30 year business plan at say £1k/month = £360k. So the worth to you is £499k but the bricks and mortar value is £320k. If you sell a RTB at up to 70% off you could have a worth to you of £499k but selling for £96k. Madness...

Take out the maintenance and running costs etc and the x2 way is a way better.

 

[Deleted member 221031]

No it doesn't. Assets are assets income is income, lets not go in to your accounting knowledge again.

You cannot get 70% discount on a property worth £499k ever. Not after 1 year not after 100 years.

Read the rules. They aren't hard to get your head around

That will be approx 25% max then.

Silly Denny

 

[motorbiking]

Not to mention "Your discount will be less if your landlord has spent money BUILDING or MAINTAINING..." My caps

 

[JonathanM]

Read the rules. They aren't hard to get your head around

After 5 years, the discount goes up 1% for every extra year you’ve been a public sector tenant, up to a maximum of 70% or £96,000 across England and £127,900 in London boroughs (whichever is lower).

Your discount will be less if your landlord has spent money building or maintaining your home.

I really struggle with accounting, so please bear with me. Using your example of an average new build house which costs £139K to build but has a market value of £320K. Are they saying the maximum discount would be 70% of £320K. So that is £224K maximum discount. But this is subject to an absolute limit of £96K in England and £127.9K in London?

 

[denso13]

Not to mention "Your discount will be less if your landlord has spent money BUILDING or MAINTAINING..." My caps

Yes, could, if, should, maybe's. The max RTB to discount is up to 70% whether you like it or not.

 

[denso13]

and the x2 way is a way better.

No it isn't.

 

[Deleted member 221031]

No it isn't.

Councils are glad to get rid of old housing stock and build new ones.

It’s that simple.

 

[denso13]

No it doesn't. Assets are assets income is income, lets not go in to your accounting knowledge again.

And 30 year plans are 30 year plans. A 30 year plan shows rental income over 30 years and the expected income that generates. To sell it off early means you lose that expected income. Is that too hard to grasp?

 

[Deleted member 221031]

And 30 year plans are 30 year plans. A 30 year plan shows rental income over 30 years and the expected income that generates. To sell it off early means you lose that expected income. Is that too hard to grasp?

So you’re saying every council uses a 30 year plan ? Yes/no please

 

[denso13]

Councils are glad to get rid of old housing stock and build new ones.

Not all the time.

It’s that simple.

It really isn't.

 

[Deleted member 221031]

Not all the time.

It really isn't.

A simple “No” then.

So you’re logic of a 30 year plan is irrelevant