NRLA warns Labour that rent controls could spark rental crisis

There’s already a rental crisis. Labour will not make it any less severe. They have an ambition and manifesto pledge to build 1.5 million homes over the course of this Parliament.

Labour will introduce punitive taxes to try to stop landlords selling up. Unfortunately, their predecessors have already forced landlords into financial jeopardy with taxable losses.

Landlords that are making losses or that are threatened with making losses will fight back. Many will have no choice but to sell.

Fix the people problem and the housing problem will resolve itself.

Rent control is not a Labour policy.

Ending section 21 is a Labour policy that will be a disaster for tenants and landlords, why aren’t the NRLA opposing that?

Reply to the comment left by Monty Bodkin at 14/08/2024 – 08:39
The NRLa needs there to be landlords. Stopping landlords existing the sector is in NRLA’s best interests.

So smiling boy WARNs the government, so much for looking after landlords interest, he should be opposing it – after all the yearly NRLA subscription is now £199. It seems the NRLA are now only a money making machine there to milk landlords.

The NRLA are an absolute joke. Strong opposition to CGT increase, Abolition of Section 21, the ‘hardship test’, EPC C and selective licensing should be at the forefront of their strategic focus. Unfortunately a boy doing an adults job. If he can’t provide suitable opposition then someone needs recruiting to do so. Did someone state that membership fees have increased? Not surprising given the drop off in membership in response to their limp approach to the Renters Reform Bill. I have asked the agent who manages my portfolio to ask our local MP for a sit down to discuss Landlord concerns. He has approached the MP requesting this. If The LNRLA (Limp prefix) won’t provide a robust challenge it becomes incumbent upon us at the grass roots to do so in the best way we can. Please reach out to local agents to request the same. Messages will hopefully get fed back. Whether of not the Stasi do anything about them is another matter. I am on the brink of issuing sections 21s all round, selling up and investing overseas. What else would you expect from a far right racist fascist greedy landlord?

I wonder what form rent controls might take? I doubt it will be a total freeze, but if it is, all landlords had better be charging the market rate when any legislation comes in. The Scottish model allows you to increase rent but only within certain boundaries. According to Shelter Scotland you can increase rent by a maximum of 12% based on the gap between the actual rent and the market value rent. If the gap is more than 6%, a formula is used to keep the rent below the market value. Rent. So you will never be able to achieve market rent. The Scottish Government have an online calculator https://rentcalculator.service.gov.scot/ that tells you the maximum allowed increase. Example: you are charging £800/month and the market rate is £1100/month, which you are seeking. Put the figures in and the potential allowable rent is only £896 a short-fall of £204.

Reply to the comment left by northern landlord at 14/08/2024 – 15:44
SNP messed things up ! A good example of socialism doesn’t work. Just a pipe dream for Labour Politian’s to a job!

Reply to the comment left by northern landlord at 14/08/2024 – 15:44
What other businesses get taxed on revenue and told what their maximum revenue can be? I can’t think of any. We supposedly live in a free market economy, this is just another step towards Marxist ideology.

I have not renewed my membership as it is not good value for money.

Landlords with properties that have not risen in value and therefore not subject to capital gains tax would do well to sell and invest elsewhere. I have sold a number of properties and invested at slightly higher income rates but with far more long term stability and liquidity should I wish to sell quickly and reinvest. What I find disturbing is the rude and abnoxious rhetoric toward all landlords from politicians, media and charities

COULD???

Will!