Keep Calm and Carry On - Where There is Adversity There is Opportunity

This episode is Kevin´s initial reaction to the UK´s Spring Budget of 2024 and other reforms. Including the Renter´s Reform Bill, the abolition of section 24, changes to the furnished holiday let tax regime, new short-term rental regimes, enhanced fire safety standards, the Tour Operators Margin Schemes (TOMS) and more. Kevin explains why despite the changes, building and running a property portfolio is still an excellent business option, especially the various SA models. Listen to find out how to navigate these changes and turn them to your advantage. KEY TAKEAWAYS Changes to legislation, the market etc. are inevitable. No matter what that change is the answer is always to stay calm, adapt and carry on. Lots of people are put off by change, so will leave the sector, which creates more opportunities for those who persevere. Often, seemingly negative changes actually generate more opportunities e.g. SA went nuts during CoVid. There are always ways around things. New ways to do business. Most of the SA-related changes do not affect hotels or B&Bs. The rent to SA playing field just got better. More Buy to Let landlords are going to say yes to rent to SA. The VAT changes creates more opportunities. Commercial conversion to SA is not affected by the new legislation. BEST MOMENTS ‘When more people pull out of the sector that just creates opportunities.’ ‘The Renter´s Reform Bill is actually going to help serviced accommodation.’ ‘Hysterical headlines are going to help.’   VALUABLE RESOURCES Discovery Day Sign-Up Page -  https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676 The Serviced Accommodation Property Podcast- https://itunes.apple.com/gb/podcast/the-serviced-accommodation-property-podcast/id1436005279?mt=2 https://propertysoldier.co.uk/ Serviced Accommodation Success by Kevin Poneskis Rich Dad, Poor Dad by Robert T Kiyosaki ABOUT THE HOST Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans. Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.  CONTACT METHOD https://en-gb.facebook.com/propertysoldier [e-mail]