Sorry maybe I wasn't being clear. I'm not saying Im advising the person to go ahead and rent.. I know full well that its against Local authority rules.. what Im saying is I object to the rule itself! I can see why they need to have it in first place but maybe it should be ok to live there for a few years then rent?Just thinking out loud!
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Sorry maybe I wasn't being clear. I'm not saying Im advising the person to go ahead and rent.. I know full well that its against Local authority rules.. what Im saying is I object to the rule itself! I can see why they need to have it in first place but maybe it should be ok to live there for a few years then rent?Just thinking out loud!
D
dub boy
Guest
If I rent out an affordable home but keep all the bills in my name and say that the home is still my principle residence, is this a way to get round this loophole?
No. That's simply fraud and illegal.
Sorry, I just don't buy this reasoning at all. What you're saying is you see no reason why people should not be able to acquire a home at a greatly reduced price, live in it for a couple of years (how many?), then move out and start renting it (presumably charging market rent), and pocketing a nice profit.
Why on earth should people be allowed to acquire investment properties that are in effect subsidised by the local authorities?
It's not exactly what was intended by the measures introducing affordable housing, now is it? :mad:
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colsku
Guest
Is it possible to rent out a room in a one bed apartment under the rent-a-room scheme?
I would like to rent out my affordable apartment while I'm away with work, and still kep it as my PPR?
I would like to rent out my affordable apartment while I'm away with work, and still kep it as my PPR?
Rookieinvest
Registered User
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There are income tax, capital gains tax on the sale of the porperty, and stamp duty clawback issues if you rent your appartment out. If you don't live in the property it's not your ppr.
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