With the lead up to the general election just over 3 weeks away, the parties have released their manifestos, which could impact landlords.
We’ve broken down what each party is advising below;
Labour
In their manifesto, they are looking to introduce open-ended tenancies, the scrapping of Section 21 ‘no-fault evictions’, and new rent controls which are designed to restrict increases in inflation.
They propose annual property MOTs as a minimum standard for private rented properties as well as increased sanctions, with landlords being fined £100,000 or rent repayment for substandard properties.
Some of their wider policies include building an extra 150,000 council and social homes annually, ending the Right to Buy of council homes and introducing a £1 billion Fire Safety Fund to fit sprinklers and other fire safety measures in all high-rise council and association tower blocks.
The full manifesto can be read on the National Landlords Association website.
Conservative
The party have pledged to introduce a new scheme to allow tenants to transfer their tenancy deposits when they move home. The proposed scheme is to help renters and make the process of moving home easier and cheaper, as opposed to waiting for landlords to release their deposits, which could delay them moving home.
Their other main points for the general election are to abolish Section 21 and they pledge a target of £1 million in new homes within the next five years.
The full manifesto can be read on the National Landlords Association website.
Lib Dems
Their main pledge is to build 300,000 new homes in a year, and for tenants, there are plans to help with up-front deposit costs through Help to Rent loans for first-time renters under 30.
With plans to build more energy-efficient housing and help younger renters into the marketplace, their manifesto plans are a mixed bag for landlords.
The full manifesto can be read on the National Landlords Association website.