Wednesday, 16 March 2016

Why an Uxbridge letting agent thinks the EU is good for Landlords in Uxbridge

 

Jeremy Wasden the owner of Belvoir Lettings in Uxbridge, Middlesex has posted the following on his website.

Why I think the EU is good for Landlords in Uxbridge

Going to wear my heart on my sleeve here and say that I think that the EU is good for local landlords, consequently good for me as a letting agent and also for the wider UK.
So why is that?

Economic Stability

Providing economic stability allowing companies to grow and invest.  I don't think europe is perfect and we are out performing the continental markets.  Like landlords thinking of a property purchase, business and investment thrives on certainties which the EU is set to deliver by comparison to unknown alternatives. 

Longer term I see unfettered access to the world's largest market as a key benefit of EU membership.  And our area has benefitted heaviliy from this.

Heathrow / European Head Offices

Hillingdon Borough is more likely to benefit from European trade being so close to one of our major ports, Heathrow. 

We also benefit from many local European Head Offices which provide many high quality jobs such as those found in and around Uxbridge, Heathrow and of couse Stockley Park.  Could we benefit from more of these in future?  I think this is likely with continued EU membership.

I accept however that Britain could trade successfully as an independent country.  We have some amazingly talented people in this country!
And are we going to be better off if we can attract high quality people to the UK?

Movement of People

Free movement of people brings demand from tenants for property.  Be they people working locally or commuting in to London.

This both works in helping to allow people to rent out their home as they go and work in Belgium for a few years for example or for tenants from Europe working in the UK wanting to rent property here.

If we left trade would not cease and we would form new trading partnerships but there would be uncertainty.

Legislation

I find that most of the legislation that causes consternation for Landlords is from Parliament.  Such as recentl changes to Section 21 notices and deposit protection legislation which originates in this Scepter'd Isle, as does changes in SDLT and taxation of mortgage interest.

The EU does not by any means have a monopoly on poor legislation.

If you as a landlord think the other way I would be happy to hear the counter argument.
Contact him here

Notes: We have received permission from the writer Jeremy Wasden  to re-publish this article here. His business is in Uxbridge where Boris Johnson the present Mayor of London is the Member of Parliament for Uxbridge and South Ruislip. Boris Johnson  is currently very much involved with the leave the EU campaign.

Editor's Comment: This is a very interesting article. In my experience EU residents in the south Bucks / east Berks area have been excellent tenants. Apart from working in the community, by renting they are keeping the local buy to let market exceptionally active.

Regarding Jeremy's comments on rental legislation. It is easy for a landlord to blame it all on Brussels and the EU (or even Europe as many call it). We have very complex rental regulations in the UK these days and more ahead. Where do they come from? Parliament in Westminster, The Welsh Assembly, The Northern Ireland Assembly and the Scottish Parliament. 

If you look at rental legislation in other European countries and EU Member states, it is all individual to the Government of the particular country. They all make their own rental legislation.

One piece of legislation that is common is the efficiency of energy report. So it might be a Diagnostic de Performance Energ├ętique - DPE in France, a Building Energy Rating - BER in Ireland or an Energy Performance Certificate - EPC in the UK.