Posts tagged “#landlords #tenants #renting”

A brief overview of some of the manifesto pledges that may have an impact on the private rental sector. It is not meant to be a comprehensive analysis of the pledges, just the key points that have been pledged. Comments in italics are my own: 
One million new homes to be built in 5 years, aiming for 300000 new houses per year by the mid 2020's. 
New mortgage scheme with long term fixed rates and 5% deposit to help renters buy their first home. 
£6.3 billion grants for environmental upgrades to homes. 
Section 21 'no fault' evictions to be abolished. This has cross party support but should included a better and more efficient route to regain possession of a property using exisiting and updated Section 8 powers. 
Single 'lifetime' deposit which moves with the tenant. No detail provided on this at all - industry commentators unclear how this could work. 
£75 billion for 100000 new council homes a year by 2024 and 50000 affordable homes through Housing Associations. 
Upgrade almost all of the UK's 27 million homes to the highest energy efficiency standards by 2030 
Abolish Right to Buy and give councils money and pwer to buy back former council homes. 
Cap Rent increases to national inflation rate.  
Section 21 'no fault' evictions to be abolished. This has cross party support but should included a better and more efficient route to regain possession of a property using exisiting and updated Section 8 powers. 
Liberal Democrats: 
Build 300000 new homes a year by 2020 including 100000 for social rent. 
Help young people get into the rental market with government backed tenancy deposit loans for all first time renters under 30. 
£15 billion over the enxt parliament to retrofit insulation in 26 million homes. 
Green Party: 
100000 new zero carbon homes for social rent each year. 
Scrap help to Buy and Right to Buy schemes 
Nationwide insulation programme covering every UK home that needs it by 2030 with 10 million homes to reach the top energy rating within 10 years. 
Brexit Party: 
Make it easier for councils to borrow from central government to build council houses. 
5 year residency qualifcation for any non-uk buyers of residential property. 
Social housing for UK Citizens only. 
We are without doubt going through the most significant period of change for the UK in decades. Regardless of your views on Brexit (and lets be frank the vote wasn't that far off a 50/50 split so there is bound to be division on the issue), leaving the EU will mean changes in many different ways. The Private Rental Sector was already being closely examined by Government and changes have already been implemented in 2019. 
Undoubtedly if there is to be an election, and it would seem likely that one way or another an election will be called in the not too distant future, the political parties will be positioning themselves with a range of ideas that could directly or indirectly affect the Private Rental Sector.  
So, I am going to attempt to pull together some of the key things that perhaps have already been proposed as well as highlighting anything new that may affect the PRS. My comments on any proposals I hope will be neutral to encourage comment and debate, but I also hope this will help provide some clarity as undoubtedly there will be lots of information being bandied about before and during an election campaign. Is this intended to influence how you may vote? No, most certainly not, it is merely a commentary on the issues being proposed.  
I will however make one personal comment: I believe the partnership between a Landlord and Tenant can be extremely positive, indeed I see this all the time. The greatest failing in the Private Rental Sector in my opinion is that when things go wrong the remedy for either the Landlord or the Tenant is rarely straight-forward and if a remedy is available it is either lengthy or very expensive or both. Having somewhere safe to live is a basic right and as the need for housing increases the basis on which any new legislation or regulation is made should be that it is fair to all parties and easy to achieve a meaningful remedy if things go wrong. The starting point should be that it is accepted that the vast majority of Landlords and Tenants are decent human beings who have a respect for one another, because that actually is the truth. In the minority of cases there are Landlords who flout the law and Tenants who do the same and they of course should be dealt with. New Legislation should have purpose and not be a knee jerk reaction to a perceived problem, nor should it be proposed as vote winner in a manifesto. The long term issues of providing suitable housing for a growing population are undoubtedly complicated and the need for the Private Rental Sector will continue to grow so the challenge of getting the legislation 'fit for purpose' is a serious one for the future. I hope those that are elected are up to the challenge and dare I say it perhaps they could all work together for once to achieve and work for the common good that provides a sustainable future for all parties involved in the Private Rental Sector. 
More in due course! 
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