Fiscal reform for the private rented sector
We’ve already seen some landlords leaving the private rented sector because of substantially increased taxes. To compensate for the losses incurred through additional regulation and interest rates rises, taxation must be addressed as a matter of urgency. Property lets are the only businesses in the UK which do not have taxes off-set: the playing field must be levelled.
Greater appreciation for the role that the private rented sector plays in addressing homelessness
Politicians – of all parties – seem to be oblivious of the role that the private rented sector plays in providing housing for those who may be homeless due to a lack of council / social housing – a deficit which is growing by the day. A change in focus – from penalising 'rogue landlords' to encouraging the many fair and honest landlords is much needed.
Energy efficiency demands made of landlords
Landlords are currently in a limbo when it comes to EPCs – the requirement to achieve a grade C has been scrapped, for now. Making energy efficiency structural changes is a long term process which needs to be managed around rental voids and so landlords need a clearer timeframe for any future change. Consideration also needs to be given to whether the requirements are reasonable in the light of growing costs to landlords.
Rental reform
The failure of the much-anticipated Renters Reform Bill to pass into law is a significant setback for both landlords and tenants. While many of the Bill's provisions were contentious - including concerns over periodic tenancies, the abolition of Section 21 and the associated issues of court delays along with the inclusion of the right to request a pet - we believed that continued dialogue and amendments would have addressed the concerns of all stakeholders, ultimately benefiting the rental market.
The failure to pass the Bill highlights the need for comprehensive housing policies that provide stability and address the critical issues facing the sector, principally the undersupply of good-quality rental homes.
As the UK faces a housing crisis, it is imperative that the incoming government prioritises housing policies that ensure stability and long-term solutions. Over the past 13 years, there have been 16 different housing ministers, demonstrating a lack of continuity and commitment. We urge the next administration to place housing at the heart of its agenda, providing the consistency and long-term focus that the sector desperately needs.
* Allison Thompson is National Lettings Managing Director of Leaders Romans Group *
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We don't need more legislation at all. There is a huge amount of legislation already controlling how landlords may let their properties.
We need less legislation. If all tenancy agreements were contractual i.e. not controlled by Housing Acts then it would be much easier for all categories of tenants to find accommodation and no concern about how long they could stay. Rents would invariably fall.
Another example of why I will never use LRG. 😠 “ The failure of the much-anticipated RRB to pass into law is a significant setback for both landlords and tenants”😡
Really, Allison? 😠 Find me some landlords who believe it was a significant setback! Are none of your client landlords selling up because of it? I suspect she is another one living in the London bubble. 😂
Well said AL!
The next RRB had better set things right with landlords. Period!
Let’s hope they consult landlords and not Allison Thompson or Bungling Boy Beadle! 🙏
It’s not a set back for landlords stop telling lies, it’s a relief grow up and listen to yourself.
Some landlords are in Limbo alright, others are in Purgatory and the rest of us are in a living Hell.
Does a letting agents opinion r
R, it does!
But bear in mind she works for LRG so their client landlords' opinions do not count. Now if they were a small, independent agent, I would take much more notice.
Does a letting agents opinion really matter?
Surely the only opinions that really matter are those of the people who actually own the properties. In order to attract or retain landlords there needs to be profit and the workload needs to be adequately rewarded. Contrary to government opinion rental income certainly isn't unearned.
With savings accounts paying over 5% why would people invest in property if profits weren't somewhat higher?
Obviously historically house values have risen but the same can be said for the stock market. Both can be seen as a bit of a gamble depending on luck and timing.
The current tax regime is obscene. Entering, exiting and during ownership landlords are treated appalling. The current government have done everything in their power to destroy the PRS with over taxation, with absolutely no regard to the 20 million or so tenants who live in the PRS. These are people who usually don't want and/or don't qualify for either mortgages or Social Housing.
We need to return to a traditional method of taxation and have indexation or taper relief on GCT so we aren't penalised for long service.
EPCs have no correlation to heating bills. Even if they did many people would far rather rent a conveniently located property with a mediocre EPC instead of a new build miles from amenity. The extra amount on their gas bill for 4 or 5 months in the winter is often a fraction of the additional transport costs living somewhere less convenient would entail.
The RRB was seriously flawed. There are already numerous enforcement measures open to the authorities for dealing with rogue landlords. All the RRB did was persuade numerous landlords to sell up years before they would otherwise have done. If Build to Rent was the plan B it seems to have got the timings several years wrong.
As I nsaid above, it does!
But bear in mind she works for LRG so their client landlords' opinions do not count. Now if they were a small, independent agent, I would take much more notice. Any agent who does not take notice of their client landlords opinions and wishes deserves to go broke. I recall a previous employer stating unequivocally that now he was managing the property, he did not need to consult the landlord. I did not last long befor forming my own agency where the landlord comes first.
The Renters Reform Bill was sham and never required, now Mr Michael Gove walks away just like Mr George Osborne before him having caused mayhem and turned the whole business upside down.
The point that’s missed about Section 21 is people saying they didn’t use it very much which is true, So what Government, Shelter, Generation Rent & Councils are saying is not right, they need to get rid of it because of over use is false.
Of course it wasn’t used very much because it was there, the Tenants knew it was there and you could do something about it, take it away and you’ll soon see what happens.
On the GOOD NEWS front:
Housing Secretary Michael Gove faces eviction from his government-owned mansion on 5th July, the morning after the election.
After years spent trying to solve the housing crisis and promising to ban no fault evictions, the Tory politician might soon be homeless, reports The Standard.
Gove has been living at One Carlton Gardens (main image), just down the road from Buckingham Palace since November 2021, following his separation from his wife and newspaper columnist Sarah Vine.
The decision to let him live at the £25 million property - which is usually reserved for the Foreign Secretary - was partly motivated by security concerns.
Gove has thoroughly enjoyed his stay, regularly hosting events and has even been ticked off by neighbours for taking guests onto the roof.
What a shame the neighbours didn't get an ASBO on him.
Ah yes, was he paying rent did the landlord have a Share code for him, did he receive How 2 Rent guide, a squatter living for free or grace in favour
accommodation.
Can he refuse to move out until it goes to court and bailiffs come?
Should get him another year or 2.
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