Quote:
Originally Posted by Incas
Thanks, Skydragon. Why would there be a law to force landowners to sell their property? Wouldn't this law discourage availability of rental property?
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It was all part of the 1967 'right to buy', it seemed to be aimed at those who had rented the same property for 20 odd years, who, if they got a new landlord could at short notice, be removed and the property let to higher payers. They have had to tighten the law somewhat to try to avoid the speculators. (Now you can only apply after 5+ years and if you resell before a certain time, you must repay the discount received and/or offer your previous landlord 1st refusal).
It has meant a decrease in the properties available for long term lease, which means that even good tenants only get offered short term leases and to protect the landlord, they are replaced after a few years.
However, with the discounts that can be claimed by tenants seeking to buy, there are few reliable ways to deal with the problem. Some people complain about landowners using the properties as 'holiday homes', but it is one way of ensuring the properties are kept in good order, whilst returning a slight profit.
I found this article on the right to buy and Prince Charles.
http://www.telegraph.co.uk/news/news...egal-case.html