(09-04-2023, 01:40 PM)zqwerty Wrote: Surely it's a play on the word slumlord.
I have no doubt that it is, but it reverses the meaning. He might be a slumlord but the article actually doesn't demonstrate that he is and these days if he was, he would be getting hit far harder than the awards shown in the article. He indicated that he both keeps it cheap to provide cheap rent, but has also spent big dollars on renovations. So possibly working towards full compliance as required. Until July 2024 many of the new rules still only kick in after a change in tenant.
(09-04-2023, 01:41 PM)Zurdo Wrote: He sounds like a landlord, maybe one of many, in my town, he owns over 50 rentals...although when there was a sniff of Capital Gains Tax, he dumped 2 or 3 in my street, maybe others too. They are all worse than the Government rentals, he only does minimal repairs, only just pass any inspection...so all good. (one of my kids had one of his rentals, no complaints, but no insulations, no heatpump, etc, etc.) A service to the community I expect....
Capital gains tax is only a factor when you sell. Rental investors don't usually sell, although in a large portfolio selling a few might clear debt and the height of the pricing was probably a good time to do that. Other than that, investors don't sell and won't be affected by CGT.
Insulation did have to be done by 2021 but heatpumps (or equivalent) are only mandatory for new tenancies at the moment.