Labour review calls for National Landlords Register, rent ‘stabilisation’ and tenant security

last LL out, slam the door behind you...in fact nail it closed. No one will be going back into the PRS if all this sees the light of day...

The buy to let market will crash - if fact it wont legally exist because you can't buy to let if (according to the plans) you don't plan in living in the property as your main home first BEFORE you let it out!???!

I can't see any of this being attractive to the big build to rent corps either.. capped rents according to wage growth or CPI - that's going to create absolutely zero investment in poorer/Northern areas/rural spots.

I could go on......

Reply to the comment left by Reluctant Landlord at 17/05/2024 - 08:57
Measures to PREVENT rent rises short term = measures to create rent rises in the medium and longer term…as ably demonstrated by the SNP in Scotland.

Rent rises are inevitable. The debate should be only about how much they should be, what’s fair market rent, and how frequent they should be.

The trouble with every party that introduces controls on rent or even talks about it is that no landlord or agent then has the choice to hold rents down slightly to reduce the risk of void periods because he or she might not be able to do it later when interest rates rise and other additional costs imposed by government come in. Restricting choice for landlords also restricts choice for tenants.

BECAUSE the Labour Party has now produced this paper and everybody is anticipating a labour government lots of people who weren’t previously thinking about putting up rents will do it now because they may not be able to do it later.

On behalf of all tenants thank you Labour Party for making our lives harder.

Reply to the comment left by Beaver at 17/05/2024 - 10:20
PS: Whilst I am not a tenant my daughter is: The Labour Party just increased the risk for her of a significant rent rise...genius.

My tenants has security.

I provided a good home in return for a modest rent.

Then the Government opened the borders, raised taxes, treated landlords with contempt. This meant costs rocketed and rents had to rise.

My rents were 10% to 30% below market rate and well below the LHA Rates. I’ve increased them by 15% this year and will do so again next year. And the year after if the tenants still haven’t got the hint.

Then, I’ll consider having a few holiday lets instead.

They on another planet.
want to sell a property ‘should not be a ground for ending the tenancy’.

So u cannot sell something that is yours-Are u supposed to keep it forever? When u aged 90?

My last tenants to leave, a professional couple who had two children whilst renting from me. They were both teachers and were with me for 9 years. I never increased the rent and always made repairs as required.
When they left the rent that they were paying was 50% lower than the going market rate.
If these proposals came to being then I would only be able to charge my new tenants a little above 50% of market rate.
Under these proposals I would have had to insist the rents were increased every year over the 9 years that they were with me in order to be able to achieve market rates, so that the lovely tenants would not benefit from my generosity.
So another unintended consequence of this proposal.
Nobody seems to be thinking through this crazy war on landlords.

Reply to the comment left by Juan Degales at 18/05/2024 - 08:34
Yes,

Never come to ask Landlords do they.
I've said same.
I'd have to start leaving all mine with Letting Agents, & they'd now have to pay deposits & 2024 deposits at that. About £1500+ each tenant would have to find when nothing going wrong as it is.
We can't cope with all these changes. More work requires more younger brain letting agent from my view.

How many more of these sodding reports do we need, ALL of this stuff has been reported before many many times. Looks like to justify your job you write a report.

Reply to the comment left by Mick Roberts at 18/05/2024 - 07:50
Making selling a discretionary ground would only work if the government made BTL an attractive investment.

Perhaps allowing property to be wrapped up in an ISA. Maybe capped at £250k per person.

Perhaps reducing CGT to 10% if the tenanted property is sold to another landlord.

Perhaps allowing tenancies to start afresh with the new landlord (to allow deposits to be properly protected etc.,).

Without making BTL attractive, landlords will be forced to sell with vacant possession. Otherwise, landlords will be bankrupt and the creditors will force the property to be sold.

Reply to the comment left by GlanACC at 18/05/2024 - 10:06
This report amounts to sequestration of assets.
There is so much unfairness in the current RRB and to think Labour have to commission another report just to tighten the screw further.
It has occured to me that even with the current RRB it will be almost impossible to get vacant possession even when we have to sell because we will be relying on permission from a Judge.
Our details will also be on an open register where everyone can find where we live, the address of our all our properties and more.
This must be a scammers delight.
Yet we are not allowed to have a tenants register because there are only "bad" landlords and only "good" tenants.
It beggars belief !