Labour would devastate the rented housing market

by Property118.com News Team

9:00 AM, 25th November 2019
About A year ago

Labour would devastate the rented housing market

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Labour would devastate the rented housing market

Plans by the Labour Party would threaten to close down the private rented sector according to the RLA.

The development of annual ‘Property MOT’s’, a Charter of Renters’ rights, open ended tenancies and rent controls all combined would drive thousands of landlords out of the sector. This would lead to a massive shortage of properties driving rents up and increasing homelessness.

David Smith, Policy Director for the Residential Landlords Association (RLA), said:

“These proposals have not been thought through. We have been at the forefront of wanting to drive criminal landlords out of the market, but to place such ill-thought out burdens on the majority of good landlords would lead to a serious rental housing crisis, which would only hurt tenants as they struggle to find a place to live. The sector does not need new obligations, but better enforcement of those that already exist. We hope that should Labour come to power they will work with us to bring in proposals that would better protect tenants against criminal landlords whilst still encouraging good landlords to invest in the supply that is needed to meet demand.”


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Comments

Whiteskifreak Surrey

10:47 AM, 25th November 2019
About A year ago

Some discussion of that looming disaster is here: https://www.propertytribes.com/labour-proposals-for-cgt-for-landlords-t-127643800.html
And the link to the Grey Book of Horrors is here: https://labour.org.uk/wp-content/uploads/2019/11/Funding-Real-Change-2019.pdf
Time to sell up, pack up and leave this country for good.

john mcghee

11:33 AM, 25th November 2019
About A year ago

I have voted labour all my life and am horrified to see their intentions towards landlords. The tories are to blame but now labour are jumping on the band wagon. We had 20 properties at the start of the year but have sold 6 already, the rest are also on the market.
I can't believe l am actually thinking about going tory.
I am an ex-miner and it horrifies me.
Come on Jeremy think about us !!!!!!

Kathy Evans

18:15 PM, 25th November 2019
About A year ago

I just wish all mine were not in negative equity as I'd sell the lot tomorrow if I could, but there are three houses for sale in the same street as one of them and they've been on the market for ages with no takers.

paul robinson

19:02 PM, 25th November 2019
About A year ago

From own experience of the HMO rental sector is already heavily regulated, however there is a serious lack of enforcement so rentals owned by the bad/rouge landlords just don’t get sorted, so tenants see no improvements should they be unfortunate enough to rent one.

Decent landlords will eventually exit the market as trying to jump through more badly thought out and implemented legislation will sadly be just too difficult to achieve. Or feel they no longer want to be political pawns and blamed heavily for the housing crisis.

Should labour get into power I sinserly hope they get on with building some social housing quickly, otherwise fear the crisis is only going to get a lot worse!

Whiteskifreak Surrey

12:15 PM, 26th November 2019
About A year ago

Just sent to my Inbox by City am: https://www.cityam.com/new-poll-has-labour-closing-gap-on-tories/
I am utterly horrified that "Labour received a boost today from 168 economists who published a letter in the Financial Times in support of Corbyn’s radical economic agenda.
The signatories included former Bank of England rate-setter David Blanchflower, and professors from London School of Economics and Oxford."
I cannot believe which country I am living in...


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