A newspaper which often carries leaks of new Labour policies has produced an interesting theory on the fate of the Renters Reform Bill.
The Independent says Prime Minister Rishi Sunak is unwilling to ‘take on’ MPs from his own party who are increasingly concerned about provisions in the Renters Reform Bill.
The newspaper claims there are now “significant doubts” about the future of the Bill which intended to abolish Section 21, create a lettings Ombudsman and a mandatory register of landlords.
Shadow Housing Secretary Lisa Nandy - who this week confirmed that Labour was officially opposed to rent controls - claims tenants are “in limbo” while “ministers and Tory MPs argue amongst themselves” over the fate of the reform legislation.
She says: “Labour will never treat renters as second-class citizens. We will make renting fairer, more secure and more affordable with our Renters’ Charter.
“We will scrap no-fault evictions, introduce a four-month notice period for landlords, a national register of landlords, and a suite of new rights for tenants – including the right to make alterations to your home, the right to request speedy repairs, and the right to have pets.”
The Bill was introduced into the Commons with a fanfare six weeks ago and recently Commons Leader Penny Mordaunt hinted that its Second Reading stage would begin soon.
The Commons summer recess is from July 20 to September 4.
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The Reform Bill is bad for tenants and bad for landlords. Most tenants are happy in their homes.
I got one property back less than a month ago. It’s empty as the tenant left all her crap in it. I’m waiting for her to remove it. But I’m in no rush. I need to refurb it. When finished I can’t rent it anymore as I’ll never get it back? I can’t sell it realistically in this market. The quicker it’s refurbished the longer I risk squatters and refurbing twice.
After getting rid of a nightmare tenant the thought of handing a property over to someone who will be able to dictate everything knowing they will win everything (it’s not going to be impartial is it 😀🤪).. No.
I should be in a hurry to re-let it.
Labour are coming anyway? 🏴☠️☠️🆘💩
It will sell just fine, do it before the CGT goes sky high under Labour 💰💰
That’s one of the main reasons to sell beyond the RRB
In March 2023, Labour shadow chancellor Rachel Reeves said that Labour had “no plans” to increase the rate of capital gains tax (CGT) if it wins the next general election. However, in a recent interview with the BBC’s Today programme, Labour’s deputy leader Angela Rayner stated that a commitment to increase CGT rates could be included in Labour’s election manifesto.
Wealth taxes also being considered, I believe, by Labour. Terrible for property owners as the money may be tied up in the property and there may not be substantial cash. If your property portfolio were valued at 5 million then you might end up having to find £100,000! Take out a loan to pay the tax.
But will they let you offset the interest on the loan to pay their thieving wealth tax. Or will it be like all other finance costs???
All you can do is sell everything and fritter the money away.
Ellie do not fritter the money away, save it to pay for your end of life care.
I might start smoking or do something better with it than be a landlord. Weed looks good. Then I won't need to pay for my own care. I will be identifying as being a cat, a dog, dinosaur or something similar soon anyway. It's easier that way. Everyone want to support you then. Not like being a landlord.
No point in making provision for the future if the money can be taken off you in tax. The policy seems to be to keep taxing the same people and the same properties over and over again. I have already paid well over a million pounds in inheritance tax - do I now have to find more money for further taxation? I had to save to pay the inheritance tax on the property and use my own savings which were not substantial either. I also had to pay income tax and council tax on those properties and licensing fees etc. I was buying smart price food and not putting heating on.
That gives me an idea, I could identify as being a playboy, much more fun than being a landlord (so my friends tell me)
Maluka,
I would recommend switching between Playboy and Playgirl so you can take advantage of of being one or the other. Then you have a good basis to go to a women's prison for tax evasion or killing your useless tenant that you can no longer get rid of.
Good advice Nick, but no need to commit a crime to go to prison for I am sure that sooner or later a landlord will be imprisoned for something a tenant has done.
I am sure Maluka. Has anyone heard about the landlord now needing to be responsible for their tenant's care costs WHEN they can't afford it? And also need to pay for their funerals too?
I had 11 rentals now sold down to only 4 rentals left.
I will never rent another property ever again.
My current 4 tenants are very good and no trouble to me.
The rents I charge are at the affordable end of the scale.
I always offer the properties to the tenants to see if they would like to buy and this way I am able to afford a discount.
It is the right to have pets and the right to make alterations that bothers me most. Tenant DIY could wipe thousands off the value of our property. I can't see housing associations standing quietly by while that comes in though as they don't have the option of selling up like I do.
Our lizard man is due to move out today on section 21 🤞🤞. Not taking a book on whether it will happen after 13 cancelled appointments to meet and replace the smoke alarm! And no response to 2 messages to arrange a time to hand over keys.
All the very best…. If the public only knew. 🫤
If Govt or politicians want to introduce wider 'freedoms' for tenants, then by all means, - But in properties that local Govt ( Councils ) own.
What next, - if a pedestrian, who can't afford a car, sticks their thumb out, will Labour legislate that any passing car driver must stop and pick them up and give them a lift !
Private property owners are not Homeless free taxi's !
A right to make alterations...! I have one who has made alterations to the bathroom by smashing the wash basin and set fire to the kitchen?!?! Don't think these are what Nandy meant.
Sell, sell, sell..... Whilst you still can!!
Because maybe they are starting to see, that all the damage we said would be caused, is now being caused.
Tenants have the right to alter the place they live in- hmm will they be build an extension for me or new kitchen bathroom? I think not. So this tenant right need to know more detail- from labour-
I had a Tenant that took out the shower unis completely but retained the electric shower unit on the wall, formed a rectangular tank with concrete blocks 2 Courses high. A tank for washing the dog.
The amount of work, hassle and costs that was for me, to remove this obstacle buy a new replacement shower but he made all surrounding wall damp as well not to mention mucking up the drainage which was under the ceramic tiled floor. He also disappeared a fire door leaving me with just the frame… pet lovers take note and there was no permission to have a dog in this Flat, just imagine what its going to be like now with Renter’s Reform Bill, they haven’t a clue what they are doing.
I attended a flat inspection by the local council last week. The tenant had removed the cover from a water heater and complained to the council that he was getting electric shocks.
The people who are drawing up this hill- yep have no f idea what the repercussions will be.
The biggest problem in all of these discussions is this assumption that all tenants are sensible, reasonable, intelligent human beings & all LLs are greedy scum tying to rip everyone off just for profit. Until there is a grain of common sense used, decent LLs will just keep walking away.
I have to agree not over crowded at all, alleged over crowding that will do to fine a landlord don’t let facts get in the way.
Council is doing very well out of this person £34k they have taken off him, that beat working which the Council is not capable of doing anyway.
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