Housing Minister denies Renters’ Rights Bill will harm supply

Fit for his purpose and that of this government. Rents though seem to have peaked, certainly in my area with more properties available and yet more new builds so adding all the extra costs from this bill on to renters seems unlikely. With property values falling and all the costs of running rentals the profit margin hardly makes it worthwhile, especially now with the added risks.

Reply to the comment left by Jim K at 01/10/2025 – 12:37
It will be “proportionate”.

Pennycook as he calls himself is an ambitious MP with delusions of grandeur. He will toe the line, support anything the party wants as he did with Angela. He is another political graduate with no technical knowledge or ability. High ambitions, meaning don’t rock the boat and support everything the party wants. Pointless arguing with him as he is the type to have an excuse for everything and answer for everything. Plus they lie about the stats, which, as we know stats can be manipulated to tell what story you want. What criteria does he base “roughly the same since 2013”? Simple fact is labour need something to actually get done and despite the Lords trying to delay it is going to happen. Over 300 amendments put forward by the Lords, not one implemented.

Oh.
Must be just me quitting then.
I thought there would be loads.

Reply to the comment left by David100 at 01/10/2025 – 15:14
you are not alone. Pennycock may be in denial, but tenants will see the reality soon enough.

Reply to the comment left by David at 01/10/2025 – 13:00
I agree with you. The same in my area. The rents have fallen from previous 2 years, as a lot of empty office buildings have been converted into small studios for students and made them attractive by having games and social rooms. This is all new and to attract the students. Though these rooms are small, they are inclusive of bills and allow the students to budget. So private properties are less in demand. We have to find new ways to rent them out this year and the following years. We are hoping to sell at least 5 to 6 properties within 2 years, as the fixed rates expires, out of these 4 within 12 months. Pennycook, clearly don’t care what happens in 5 years, as he will be retired and be out of politics by than. Harm would be done by then. Currently, he feels strong as part of an elected government, who are so called socialist but pay themselves huge salaries and expenses.

Reply to the comment left by Bryan at 01/10/2025 – 13:17
Pennycook, like other MPs know how to spend others money, while pay themselves huge expenses, living in London, the travel costs, the lifestyle, heavily subsidise restaurant and bars in the House of Commons.
He clearly hates LLs, who have worked hard to purchase properties, paid huge taxes initially, and consistently pay more taxes and all the other nuances they have to cope with. Finding these expenses is not an easy task for all working LLs. Landlords work a lot harder than some of the so called workers. Unfortunately the work carried out by landlords does not count, as they cannot charge this to the tenants. LLs do not work, they believe.
Between 2 to 5 years there will be even less properties available for rent. They are counting on Ll selling to other landlords. I am selling one to another landlord and one to owner occupier (1st time buyer). So this is what they are counting on but forgets the increase in population, forget the migrants coming to this country. Pennycook has a small and narrow mind and cannot see beyond his nose.

Reply to the comment left by Bryan at 01/10/2025 – 13:17
Knowing Keir Starmer’s team, they never looked at all 300 amendments. They don’t know how to judge as they have taken a stubborn stance to it.

The labour reform will kill the PRS.if Mr pennycock dont want to see the landlords making profit how in earth they are going to invest in improving the property for good tenants or invest in more which will directly or indirectly impact the sale of building materials/electrical manufacturing at large thus will increase the risk of closing more businesses,generate more unemployment ?Good old labour days.
Furthermore how can a landlord prove if there were more occupants than the one’s on the tenancy contract plus may get attacked by a dogs that labour is adamant for allowing pets, when visiting tenants then getting accused of harassment by the same tenants. If someone buys the peoperty on buy to let mortgage the interest generated plus tax on profits goes to government too if this market shrinks along with other trades,and putting general building contractors out of work because private rental sector is no more then the economy will suffer and more people out of work,a phrase for government to put a country in debt then call general election. After which New goverment will impose more cutbacks to bring down the country’s debt level the result will be more general public suffering who have no skills to find employment and may breed more public disorder.
Section 21 should never be abolished it should be improved to hold the bad landlords or tenants responsibile to account. We think the government is making sure by bringing in RRBill to drive away business’s and make public to pay for debt in the end which will include the complaining tenants of section 21 rather than trying to improve thier relation with good landlord’s.
Joe

Reply to the comment left by Ian Narbeth at 01/10/2025 – 12:29
Pennycock has got form when it comes to his dubious use of statistics. In the past he has quoted the size of the PRS as having doubled since 2002. Why 2002? Nothing significant happened then … it just happened to be the year when the PRS was half the size of the PRS in 2024. Of course he ignored the downturn since 2016 (when Osborne’s S24 and loss of furnished reliefs came in). He is the classic “oh look there’s a dead cat over there” detractor and fails to acknowledge the real issues. A dreadful Housing Minister albeit slick when a camera is pointing at him