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10:24 AM, 20th June 2024, About A week ago 14
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Labour says it will crackdown on ‘unscrupulous landlords’ who are strangling growth in the private rented sector (PRS).
The party is adding details to its manifesto which was launched last week.
It says there will be a clampdown on ‘unscrupulous landlords ripping off tenants with extortionate rents and lurid living conditions’.
Labour adds that renters will be ‘better off under Labour’ and Section 21 ‘no-fault’ evictions will be abolished.
There’s also a promise to improve conditions and tenant bidding wars will be made illegal.
Labour also says it will bring greater security for renters by ending ‘massive’ up-front rent payments.
Labour’s deputy leader, Angela Rayner, said: “Time and time again, the Tories have failed to stand up for renters.
“From endless delays to no-fault evictions, to failure to sort damp, cold and mouldy homes, the Conservatives are failing working people.
“Labour will call time on a decade of Tory vested interest and put renters first.”
She added: “An affordable, secure private rented sector is vital for economic growth, allowing young people to save for a mortgage with more money in their pockets to spend in the day-to-day economy.
“Our plans will support good landlords, but we are calling time on unscrupulous landlords strangling growth.”
Labour is also promising to end fuel poverty and reduce energy bills.
The bidding war promise comes after the New Economics Foundation thinktank found that last year, tenants had to pay an extra £100 above the asking price per month for their home.
The plan’s details haven’t been confirmed but it is believed the party is looking at other countries, such as New Zealand, where a similar policy has been successful.
Labour also says that stiff competition for a rented home has seen some tenants handing over several months of rent in advance to secure the property.
Again, there are no details on how this will be tackled.
Ms Rayner also says that Labour’s plan to build 1.5 million more homes is the ‘only real way’ to make renting affordable.
The Guardian also reports that Labour’s bid to end the ‘rip-off private rented sector’ will also see:
Ben Twomey, the chief executive of Generation Rent, said: “The Labour Party’s commitment to supporting renters is welcome. The process of reform cannot be held back by landlords’ vested interests any longer and the next government must stand up to people profiting from weak tenants’ rights.
“Labour has promised to enable tenants to challenge unreasonable rent increases, but in order to do so must go further to slam the brakes on soaring rents, limiting increases to the lower of wage growth or inflation.
“Tenants looking for a new place to live can face horrendous exploitation, including being asked to bid against other renters for homes, or pay up to six months’ rent in one go to get hold of the keys.”
He added: “This makes it particularly hard for people on low incomes to secure a tenancy.
“Landlords and letting agents should be required to charge only the advertised rent, and just one month plus the deposit up front.
“The commitment to raise minimum energy efficiency standards in privately rented homes to EPC Band C is an essential step towards lifting one in four private renters out of fuel poverty.
“Upgrading insulation and heating systems will also help counteract damp and mould problems that damage our health and belongings.”
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LincolnshireLandlord
8:42 AM, 22nd June 2024, About A week ago
So Labour say they want to improve energy efficiency to save tenants up to £250 per year
So I as a landlord have to spend thousands of pounds to save the tenant £250
are they mad the tenants rents will be increased to pay for this and by more than £250 per year
city boy
9:08 AM, 22nd June 2024, About A week ago
So “excessive deposits” - the tenant fees act capped deposits at 5 weeks rent - so legislation (with hefty penalties already exists)
If Labour mean 6 months or so rent up front - that often suits a tenant and/or they can’t pass referencing (been out of the country for long periods, new to the uk, poor credit rating etc) - I won’t rent without rent and legal insurance (and good luck with Labour removing that right..) so don’t pass referencing and no 6/12 months up front no rental.
As for the “bidding wars” I can only assume they will say that you can only take an offer at the asking price and not above (having to take the first offer doesn’t work as it could be very low and etc) which will mean landlords will advertise at higher rents to protect themselves.
I already (like most landlords) if I get an offer at the asking price and they pass referencing accept the tenants.
In all of the above the tenants will suffer - unintended consequences once more.
But frankly it’s time to get out of being a landlord - I will put my money in 5 to 9 % yielding portfolio of REITS and have a hassle free life.
Priten Patel
9:33 AM, 22nd June 2024, About A week ago
“failure to sort damp, cold and mouldy homes..”
This area needs way more work. What can a landlord physically do to ensure their property meets a sensible level of airflow or extraction? There is no answer.
I could put the best fans in, and air bricks everywhere, but then the complaint will be about being cold. Never mind the fan being switched off, or vents not being blocked.
I’ve got a tenant who has lived with mould in my flat for several months apparently, and decided not to tell me. She told me a month ago, after her furniture started getting damaged and the rest. I’m now having to pay for all that.
But she’s gone to the council and I’m now trying to fire fight. She’s been telling them it’s been going on for months and I’ve done nothing! So the narrative portrayed is villain landlord and poor victim tenant.
I’ve put together a 6 page report with 10 or so accompanying documents. In there it includes things like tenant had advised she cooks food and sells it, her staff member (who comes to the flat to help) isn’t being paid etc. No wonder there’s mould! It’s not a commercial kitchen, it’s a 2 bed flat. Treat it like one.
Going back to the point, there needs to be clear guidance on what a landlord should do to ensure adequate ventilation (this will be subjective to the property, as well as what can be done within leaseholder terms for flats etc). If that’s met, and mould growth occurs, then the tenant needs to own that problem.
TheMaluka
9:48 AM, 22nd June 2024, About A week ago
Reply to the comment left by TheBiggerPicture at 20/06/2024 - 11:38
Diane Abbott for Chancellor?